Albany Area Chamber Foundation Inc

Nonprofit profile at a glance

EIN
581821204
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Albany, GA, USA
Phone
2294348700
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$82,385
Expenses
$92,457
Assets
$547,593
Liabilities
$50,841

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

Leadership & pay

11 people listed

Highest reported compensation

  • BARBARA RIVERA HOLMES (SECRETARY): $139,351 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 aims and purposes of the albany area chamber foundation shall include, but not be limited to, the advancement and diffusion of knowledge and understanding of economics, matters of public concern, finance, education and training, housing, human relations, problems of minority groups, science and technology, economic planning and development, international relations, and other subjects related to improve efficiency, development, international relations and other subjects related to improve efficiency, development and acceleration of both the quality of and quantity of economic growth and employment opportuntities.

What it reported doing in 2024

Expenses for entrepreneurial and innovation inititatives including "albany- dougherty county works talent development strategy 2.0", "flex aby" (albany's first youth entrepreneursip competition), and "propel+" - a youth talent development initiative that through connection nutures, provides for and empowers albany's female youth to design their paths.

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.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 92
  • Accountability: 58
  • Sustainability: 40
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90%; rating input score 90
  • Program expense ratio: 64.5%; rating input score 65
  • 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; 27th percentile among comparable filings
  • Governance controls: 1 of 8 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -12.2%; rating input score 44; 44th percentile among comparable filings
  • Total-asset coverage ratio: 5.92; rating input score 52; 52nd percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: 21.8%; rating input score 13; 13th percentile among comparable filings

Growth

  • Program expense growth: -10.6% per year; rating input score 0; 28th percentile among comparable filings
  • Revenue growth: -6.9% per year; rating input score 0; 38th percentile among comparable filings
  • Asset growth: 2.5% per year; rating input score 100; 54th percentile among comparable filings

Details

  • Where the money goes: 90% of revenue deployed · 64.5% of spending went to programs
  • Governance: 9 of 10 board members independent · 1 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $60K in reported program spending
  • Leadership: top reported pay $139K · 11 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • 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.

  • High — Accountability: Governance controls: 6 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 44/100.
  • Review — Sustainability: Total-asset coverage ratio scored 52/100.
  • High — Sustainability: Officer compensation ratio scored 13/100.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.