Boothbay Harbor Region Chamber of Commerce

Nonprofit profile at a glance

EIN
010220724
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Boothbay Harbor, ME, USA
Phone
2076332353
Rating
43
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$398,910
Expenses
$400,173
Assets
$494,445
Liabilities
$255,709

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

Leadership & pay

14 people listed

Executive titles in this filing

  • JULIE ROBERTS (PRESIDENT)

Highest reported compensation

  • LISA WALBY (EXECUTIVE DI): $39,397 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 mission of the boothbay harbor region chamber of commerce is to promote a positive business climate by focusing on advocacy, access, and leadership.

What it reported doing in 2024

The boothbay harbor region chamber of commerce promotes not only the entire boothbay region but also the midcoast area from which many of its members do business. The majority of its membership comes from the robust tourism industry offered by our region but also serves to promote the marine industry, a host of non-profits and the businesses that enhance the quality of life enjoyed by our community in the midcoast region of Maine. Our regular chamber offices enjoyed serving over 1,300 visitors last season and we received over 325,000 views on our website. The chamber distributed 25,000 copies of their annual regional guide between may and october. The chamber organizes boothbay lights and partners with coastal Maine botanical gardens with their gardens aglow event. We have also partnered with friends of windjammer days and organize the annual street parade. We help raise awareness and partner with 1st friday art tours. The chamber continues to work with municipalities and local organizations to help promote businesses and foster economic growth.

Operating model

Revenue model
Donor-supported. 60% of the money available for current operations came from contributions and gifts.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

MIXED - 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: 0
  • Transparency & Controls: 92
  • Accountability: 69
  • Sustainability: 36
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Pass
    • 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: -0.3%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 1.24; rating input score 46; 46th percentile among comparable filings
  • Liabilities to assets ratio: 0.52; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 9.8%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -2.7% per year; rating input score 0; 15th percentile among comparable filings
  • Asset growth: -2.6% per year; rating input score 0; 16th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 13 of 13 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $39K · 14 people listed
  • Consistency: 10 of 11 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 38/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 46/100.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.
  • High — Sustainability: Officer compensation ratio scored 29/100.