Abilene Chamber of Commerce Foundation

Nonprofit profile at a glance

EIN
237248959
IRS 990 coverage
2017–2024
Forms available
Form 990 2024, Form 990-EZ 2020
Location
Abilene, TX, USA
Phone
3256777241
Rating
82
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$227,921
Expenses
$211,608
Assets
$587,390
Liabilities
$31

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

Leadership & pay

6 people listed

Executive titles in this filing

  • DOUGLAS PETERS (PRESIDENT AN)

Highest reported compensation

  • DOUGLAS PETERS (PRESIDENT AN): $353,085 total reported compensation
  • FRANCES WILLIAMSON (CFO): $79,084 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The purpose of the organization is to provide knowledge and understanding of economics, matters of public concern, finance, education, and training, and problems of minority groups thereby promoting the economy and quality of life in abilene, Texas.

What it reported doing in 2024

Community programs - vaious contributions supporting the programs of the abilene regional growth alliance, the abilene chamber of commerce, and other local non-profit entities.

Operating model

Revenue model
Donor-supported. 94% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 89% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 79
  • Accountability: 95
  • Sustainability: 54
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.6%; rating input score 93
  • Program expense ratio: 97.7%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 99.5%; rating input score 99; 60th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd 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: 7.2%; rating input score 55; 55th percentile among comparable filings
  • Total-asset coverage ratio: 2.78; rating input score 67; 67th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 59; 59th percentile among comparable filings
  • Officer compensation ratio: 28.5%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: -9.7% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: 4.7% per year; rating input score 100; 51st percentile among comparable filings
  • Asset growth: 10.7% per year; rating input score 100; 68th percentile among comparable filings

Details

  • Where the money goes: 92.6% of revenue deployed · 97.7% of spending went to programs
  • Governance: 4 of 4 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $207K in reported program spending
  • Leadership: top reported pay $353K · 6 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 6 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 5 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.
  • Review — Sustainability: Operating margin scored 55/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 12/100.
  • Review — Sustainability: Liabilities to assets ratio scored 59/100.