FLORENCE AREA CHAMBER OF COMMERCE (EIN 930559732) - Form 990 Financial Analysis & Trantor Score

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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

1975

Legal Domicile

Principal Officer

BETTINA HANNIGAN

Phone

5419973128

Tax Period

2022-07-01 to 2023-06-30

FLORENCE AREA CHAMBER OF COMMERCE, founded in 1975, is a small nonprofit that reported $499K in total revenue in fiscal year 2022. Revenue decreased 13% compared to the prior year.

Mission

FLORENCE AREA CHAMBER OF COMMERCE ACTIVITY PROMOTES OUR MEMBER'S BUSINESSES TO VISITORS AND THE LOCAL COMMUNITY. THE CHAMBER'S MISSION IS TO ENHANCE THE IMAGE OF OUR BUSINESS COMMUNITY ENABLING BUSINESSES TO GROW AND PROSPER.

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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 (2022)

Revenue Breakdown

Contributions & Grants $139,227

Program Service Revenue $355,615

Investment Income $178

Other Revenue $3,503

TOTAL REVENUE $498,523

Expense Breakdown

Grants Paid $0

Salaries & Benefits $150,806

Fundraising Expenses $0

Program Expenses $488,239

Other Expenses $185,092

TOTAL EXPENSES $527,756

Year-over-Year Comparison

	2022	2021	Change
Revenue	$498,523	$570,670	-0.1%
Expenses	$527,756	$425,323	+0.2%
Net Income	$-29,233	$145,347	-1.2%

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICH COLTON	BOARD MEMBER	2.00	Director	$0	$0	$0
NEIL ECKER	BOARD MEMBER	2.00	Director	$0	$0	$0
JASON HAWKINS	BOARD MEMBER	2.00	Director	$0	$0	$0
GEORGE HENRY	BOARD MEMBER	2.00	Director	$0	$0	$0
BRITTANY HORNUNG	TREASURER	2.00	Officer Director	$0	$0	$0
ANGELA NELSON	SECRETARY	2.00	Officer Director	$0	$0	$0
AL ROJAS	CHAIRPERSON	4.00	Officer Director	$0	$0	$0
BETH RUDOMETKIN	BOARD MEMBER	2.00	Director	$0	$0	$0
STEVE SHREWSBURY	BOARD MEMBER	2.00	Director	$0	$0	$0
DAVE TWOMBLY	BOARD MEMBER	2.00	Director	$0	$0	$0
BONNIE WELCH	PAST CHAIRPE	2.00	Officer 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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$498,523	$527,756	$599,480	$-29,233
2022	$570,670	$425,323	$646,802	$145,347
2021	$357,443	$220,327	$536,516	$137,116
2020	$300,190	$307,043	$370,755	$-6,853
2019	$436,853	$380,729	$378,519	$56,124

FLORENCE AREA CHAMBER OF COMMERCE