NOVATO 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

Principal Officer

COREE CAMERON

Phone

4158971164

Tax Period

2023-01-01 to 2023-12-31

NOVATO CHAMBER OF COMMERCE is a small nonprofit that reported $569K in total revenue in fiscal year 2023. Expenses of $541K left a modest 5% surplus.

Mission

THE NOVATO CHAMBER OF COMMERCE PROMOTES CIVIC AND COMMERCIAL ACTIVITIES AND ECONOMIC DEVELOPMENT.

Program Service Accomplishments

Program 1

TRANSIENT OCCUPANCY PROGRAM: THE CITY OF NOVATO HAS AN ONGOING CONTRACT WITH THE NOVATO CHAMBER OF COMMERCE FOR A PORTION OF THE TRANSIENT OCCUPANCY TAX (TOT). THE CHAMBER USES THE FUNDS TO PROVIDE THE CONTRACTED SERVICES INCLUDING: TOURISM PROMOTION VIA ADVERTISING AND OTHER METHODS, MAINTAIN A VISIT NOVATO WEBSITE, VISITOR CENTER SERVICES, PROMOTE VISITOR SPENDING IN NOVATO AND PROMOTE BUSINESS TRAVEL TO NOVATO.

Program 2

MEMBERSHIP, NEWSLETTERS, SEMINARS AND EVENTS: A PROCESS OF DEVELOPING PROGRAMS DESIGNED TO PROMOTE RECRUITMENT AND RETENTION OF BUSINESS AND INDIVIDUAL MEMBERS. PROGRAMS INCLUDE MEMBER EVENTS, MEMBER TO MEMBER DISCOUNTS, FOCUS DISCUSSION BENEFITS, NETWORKING MEETINGS AND PUBLICATION OF REFERRAL DIRECTORY. THE CHAMBER HAS PUBLICATIONS DISTRIBUTED TO MEMBERS WHICH CONTAIN INFORMATION AND PAST EVENTS AND UPDATES ON CHAMBER PROGRAMS. THE CHAMBER ALSO SPONSORS MANY SEMINARS AND PROGRAMS DESIGNED TO BENEFIT THE BUSINESS COMMUNITY.

Program 3

LEADERSHIP PROGRAM: AN EDUCATION PROGRAM DESIGNED TO IDENTIFY AND DEVELOP EFFECTIVE COMMUNITY LEADERS WHO WILL HELP CREATE A SPIRIT OF COOPERATION FOR ADDRESSING COMMUNITY CHALLENGES. PARTICIPANTS...

LEADERSHIP PROGRAM: AN EDUCATION PROGRAM DESIGNED TO IDENTIFY AND DEVELOP EFFECTIVE COMMUNITY LEADERS WHO WILL HELP CREATE A SPIRIT OF COOPERATION FOR ADDRESSING COMMUNITY CHALLENGES. PARTICIPANTS ENROLLING IN THIS PROGRAM IDENTIFY AND ADOPT ISSUES OF COMMON COMMUNITY CONCERN AND IMPLEMENT A PLAN TO ADDRESS THE ISSUES THROUGH TEAMWORK AND COMMUNITY OUTREACH.

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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 $3,755

Program Service Revenue $430,483

Investment Income $6,718

Other Revenue $128,515

TOTAL REVENUE $569,471

Expense Breakdown

Grants Paid $0

Salaries & Benefits $218,122

Fundraising Expenses $0

Other Expenses $322,994

TOTAL EXPENSES $541,116

Year-over-Year Comparison

	2023	2022	Change
Revenue	$569,471	$529,874	+0.1%
Expenses	$541,116	$508,851	+0.1%
Net Income	$28,355	$21,023	+0.3%

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

100

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

$110,814

Total Directors