Queens Chamber of Commerce Foundation Inc

Overview

Mission

Provide scholarships to students and support for businesses suffering catastrophic losses.

What it reported doing in 2024

Provided scholarships to various needy students and provided disaster relief for victims of hurricane sandy. To provide educational and other assistance to relief to needy queens residents and businesses. Provide scholarships to students and support for businesses suffering catastrophic losses. Provide educational and other assistance to needy queens residents and businesses. Provide assistance to businesses suffering for catistrophic losses. Provided disaster relief for victims of hurricane sandy.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 85% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

Nonprofit profile at a glance

EIN
113514824
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2020, Form 990-N 2011
Location
Jackson Heights, NY, USA
Phone
7188988500
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$33,412
Expenses
$278,224
Assets
$499,067
Liabilities
$31,904

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

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 91
  • Transparency & Controls: 68
  • Accountability: 84
  • Sustainability: 15
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 88.1%; rating input score 88
  • Fundraising efficiency: $11.49 raised per $1 spent on fundraising; rating input score 56; 56th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90.9%; rating input score 91; 27th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -732.7%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 1.79; rating input score 32; 32nd percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -74.6% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: 20.6% per year; rating input score 100; 94th percentile among comparable filings
  • Asset growth: 16.2% per year; rating input score 100; 88th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 88.1% of spending went to programs
  • Governance: 10 of 11 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $245K in reported program spending
  • Leadership: top reported pay $252K · 11 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 24 of 24 current checks pass
  • Schedules: 7 filed schedules · includes grants and executive pay
  • Filing history: 3 annual filings from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 8 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 6/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 56/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 32/100.
  • High — Sustainability: Liabilities to assets ratio scored 20/100.

Leadership & pay

11 people listed

Highest reported compensation

  • THOMAS J GRECH (VICE PRESIDENT): $252,373 total reported compensation

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