Soldotna Chamber of Commerce

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1959

Legal Domicile

Phone

9072629814

Tax Period

2023-01-01 to 2023-12-31

Soldotna Chamber of Commerce, founded in 1959, is a small nonprofit that reported $797K in total revenue in fiscal year 2023. Revenue decreased 8% compared to the prior year.

Mission

TO SERVE AS A RESOURCE THAT WILL REPRESENT, EDUCATE AND ADVOCATE FOR OUR MEMBER BUSINESSES; WHILE PROMOTING RESPONSIBLE GROWTH FOR THE GREATER SOLDOTNA AREA.

Program Service Accomplishments

Program 1

Operate the City of Soldotna Visitor Center. The center services nearly 50,000 visitors per year. During the summer months we increase our visitor center staff to from 1 to 5 employees, 2 full time and 3 part time. From mid-May to mid-September the hours of operation change from Monday - Friday 9-5 to 9-7, 7 days a week.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $159,590

Program Service Revenue $136,887

Investment Income $1,770

Other Revenue $499,239

TOTAL REVENUE $797,486

Expense Breakdown

Grants Paid $0

Salaries & Benefits $416,864

Fundraising Expenses $224,344

Other Expenses $404,414

TOTAL EXPENSES $821,278

Year-over-Year Comparison

	2023	2022	Change
Revenue	$797,486	$868,950	-0.1%
Expenses	$821,278	$810,486	+0.0%
Net Income	$-23,792	$58,464	-1.4%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

$61,822

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MADDY OLSEN	Executive Dir.	2.00	Director	$61,822	$0	$61,822
Monique Burgin	Director	2.00	Director	$0	$0	$0
Regina Davis	Director	2.00	Director	$0	$0	$0
JERRY HERRING	Director	2.00	Director	$0	$0	$0
Tanya Lautaret	Director	2.00	Director	$0	$0	$0
Lance Spindler	Director	0.00	Director	$0	$0	$0
Jordan Chilson	Director	2.00	Director	$0	$0	$0
JILL SCHAEFER	Vice President	2.00	Officer Director	$0	$0	$0
Chuck Winters	President	2.00	Officer Director	$0	$0	$0
Pegge Erkeneff	Director	2.00	Director	$0	$0	$0
Steve Manley	Sec/Treasurer	2.00	Officer Director	$0	$0	$0
Annette Villa	Director	2.00	Director	$0	$0	$0
GREG MEYER	Director	2.00	Director	$0	$0	$0
MIKE FROST	Director	2.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$797,486	$821,278	$929,505	$-23,792
2022	$868,950	$810,486	$994,186	$58,464
2021	$1,495,536	$1,300,449	$941,241	$195,087
2020	$1,103,873	$964,074	$784,715	$139,799
2019	$778,631	$892,925	$605,693	$-114,294
2018	$834,092	$931,942	$714,542	$-97,850