Brooklyn Chamber of Commerce Inc

Overview

Mission

The primary purpose of brooklyn chamber of commerce, inc.("bcc") is to assist brooklyn businesses by providing services, including marketing, education and advocacy, in ways that promote and monitor economic growth.

What it reported doing in 2024

Membership events and activities - events and activities throughout the year to foster networking between, and provide topical business information to, members/non-members of the brooklyn community and to give recognition to outstanding individuals and businesses.

Operating model

Revenue model
Earned-program. 82% of the money available for current operations came from fees and other program revenue.
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
110577070
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Brooklyn, NY, USA
Phone
7188751000
Rating confidence
Limited

Official website

Reported finances

Revenue
$868,110
Expenses
$864,843
Assets
$548,741
Liabilities
$404,459

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: 79
  • Accountability: 94
  • Sustainability: 28
  • Growth: 0

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: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 97.6%; rating input score 98; 26th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0.4%; rating input score 37; 37th percentile among comparable filings
  • Total-asset coverage ratio: 0.63; rating input score 29; 29th percentile among comparable filings
  • Liabilities to assets ratio: 0.74; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 35.1%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: -14.7% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: -0.8% per year; rating input score 0; 12th percentile among comparable filings
  • Asset growth: -0.3% per year; rating input score 0; 17th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 41 of 42 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $332K in reported program spending
  • Leadership: top reported pay $350K · 45 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 15 of 15 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 15 annual filings from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • 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.

Key Signals

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

  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 37/100.
  • High — Sustainability: Total-asset coverage ratio scored 29/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 5/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.

Leadership & pay

45 people listed

Highest reported compensation

  • RANDOLPH PEERS (PRESIDENT & CEO): $350,337 total reported compensation
  • KATHIE LEE (EXECUTIVE VICE PRESIDENT): $223,949 total reported compensation
  • CHANDRABAN MOTILALL (CHIEF FINANCIAL OFFICER): $188,049 total reported compensation

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