Chamber of Commerce of the Borough of Queens Inc

Overview

Mission

To promote business in the borough of quees, city of New York, and to provide members with the opportunity to expand their businesses and enhance the overall business environment.

What it reported doing in 2024

To foster connections, educate for success, develop and implement programs, and advocate for businesses in the borough of queens.

Operating model

Revenue model
Grant-funded. 69% of the money available for current operations came from government grants.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

Nonprofit profile at a glance

EIN
110559220
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Jackson Heights, NY, USA
Phone
7188988500
Rating confidence
Limited

Reported finances

Revenue
$4,788,198
Expenses
$4,598,662
Assets
$2,812,547
Liabilities
$1,748,500

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

The verdict

- This form does not report enough financial and governance detail to rate the organization. That is normal for this form and is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 76
  • Accountability: 91
  • Sustainability: 32
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 4%; rating input score 47; 47th percentile among comparable filings
  • Total-asset coverage ratio: 0.61; rating input score 22; 22nd percentile among comparable filings
  • Liabilities to assets ratio: 0.62; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 20.4%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: 35.3% per year; rating input score 100; 94th percentile among comparable filings
  • Revenue growth: 16.1% per year; rating input score 100; 83rd percentile among comparable filings
  • Asset growth: 20.2% per year; rating input score 100; 84th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 38 of 38 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $3.4M in reported program spending
  • Leadership: top reported pay $263K · 44 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 16 of 16 current checks pass
  • Schedules: 7 filed schedules · includes major donors, executive pay, and related organizations
  • Filing history: 13 annual filings from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Moderate — Sustainability: Operating margin scored 47/100.
  • High — Sustainability: Total-asset coverage ratio scored 22/100.
  • High — Sustainability: Officer compensation ratio scored 12/100.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.

Leadership & pay

44 people listed

Highest reported compensation

  • THOMAS GRECH (PRESIDENT/CEO): $262,607 total reported compensation
  • JOANNE PERSAD (CHIEF OPERATIONS OFFICER): $170,404 total reported compensation
  • BRENDAN LEAVY (VP, BUSINESS DEVELOPMENT): $149,366 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024.