Greater Harlem Chamber of Commerce

Overview

Mission

The mission of the greater harlem chamber of commerce is to improve the quality of life for all of our residents, as well as to develop and attract quality business and professional services.

What it reported doing in 2022

To promote business relationships in the greater harlem area.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% 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
133662434
IRS 990 coverage
2022–2022
Forms available
Form 990 2022
Location
New York, NY, USA
Phone
2128627200
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$435,635
Expenses
$433,574
Assets
$223,922
Liabilities
$40,626

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 47
  • Transparency & Controls: 92
  • Accountability: 94
  • Sustainability: 31
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 53%; rating input score 53
  • Program expense ratio: 53.3%; rating input score 53
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90%; rating input score 90; 24th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: 0.5%; rating input score 42; 42nd percentile among comparable filings
  • Total-asset coverage ratio: 0.52; rating input score 23; 23rd percentile among comparable filings
  • Liabilities to assets ratio: 0.18; rating input score 23; 23rd percentile among comparable filings
  • Officer compensation ratio: 25.5%; rating input score 14; 14th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 53% of revenue deployed · 53.3% of spending went to programs
  • Governance: 18 of 20 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $110K · 20 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 53/100.
  • Review — Financial Efficiency: Program expense ratio scored 53/100.
  • Moderate — Sustainability: Operating margin scored 42/100.
  • High — Sustainability: Total-asset coverage ratio scored 23/100.
  • High — Sustainability: Officer compensation ratio scored 14/100.
  • High — Sustainability: Liabilities to assets ratio scored 23/100.

Leadership & pay

20 people listed

Highest reported compensation

  • LLOYD WILLIAMS (PRESIDENT & CEO): $110,500 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2022.