Bay County Chamber of Commerce Inc

Nonprofit profile at a glance

EIN
590391375
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Panama City, FL, USA
Phone
8507855206
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$1,235,680
Expenses
$1,181,098
Assets
$1,676,815
Liabilities
$67,623

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

Leadership & pay

28 people listed

Executive titles in this filing

  • AL MCCAMBRY (CEO/PRESIDEN)
  • CAROL ROBERTS (PAST CEO/PRE)
  • PATRICK CHAPIN (PAST CEO/PRE)

Highest reported compensation

  • PATRICK CHAPIN (PAST CEO/PRE): $145,612 total reported compensation
  • CAROL ROBERTS (PAST CEO/PRE): $24,029 total reported compensation

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

Overview

Mission

To develop, enhance, and maintain a viable business climate and provide leadership in the development of economic growth and quality of life.

What it reported doing in 2024

Share the future: to fund the expansion of existing business enterprises in bay county. Economic development alliance: the economic development alliance is a program dedicated to creating new quality jobs which increase the wealth in the community while sustaining and growing the existing economic base.

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 - 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: 41
  • Transparency & Controls: 90
  • Accountability: 90
  • Sustainability: 48
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 44.4%; rating input score 44
  • Program expense ratio: 45.1%; rating input score 45
  • Fundraising efficiency: $3.96 raised per $1 spent on fundraising; rating input score 13; 13th percentile among comparable filings

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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd 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: 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: Fail

Sustainability

  • Operating margin: 4.4%; rating input score 49; 49th percentile among comparable filings
  • Total-asset coverage ratio: 1.42; rating input score 54; 54th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 55; 55th percentile among comparable filings
  • Officer compensation ratio: 14.4%; rating input score 24; 24th percentile among comparable filings

Growth

  • Program expense growth: 0.9% per year; rating input score 100; 21st percentile among comparable filings
  • Revenue growth: 0.5% per year; rating input score 100; 16th percentile among comparable filings
  • Asset growth: 4.5% per year; rating input score 100; 36th percentile among comparable filings

Details

  • Where the money goes: 44.4% of revenue deployed · 45.1% of spending went to programs
  • Governance: 25 of 25 board members independent · 6 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $533K in reported program spending
  • Leadership: top reported pay $146K · 28 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 44/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 45/100.
  • High — Financial Efficiency: Fundraising efficiency scored 13/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 49/100.
  • Review — Sustainability: Total-asset coverage ratio scored 54/100.
  • High — Sustainability: Officer compensation ratio scored 24/100.
  • Review — Sustainability: Liabilities to assets ratio scored 55/100.