Cape Charles Va Main Street Inc

Nonprofit profile at a glance

EIN
823611632
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-N 2017
Location
Cape Charles, VA, USA
Phone
7576782303
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Community Service Clubs

Reported finances

Revenue
$516,652
Expenses
$476,024
Assets
$273,919
Liabilities
$216,260

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

Leadership & pay

12 people listed

Executive titles in this filing

  • William Stramm (President B of D)
  • Patricia Harris (Vice President B of D)
  • Karen Zamorski (Executive Director)

Highest reported compensation

  • Karen Zamorski (Executive Director): $57,656 total reported compensation

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

Overview

Mission

Create a vibrant and attractive downtown that preserves historical character, encourages economic development and enhances the quality of life

What it reported doing in 2024

Streetscape beautification design and implementation projects were carried out during the fiscal year to help make the Cape Charles Historic District a more beautiful and appealing place to shop, stay and play. The major projects, among several others, were maintaing a historic train that is prominently displayed in the Historic District, the acquisition of lighting used for display in the Historic District, and design costs for a visitor center.

Operating model

Revenue model
Grant-funded. 63% of the money available for current operations came from government grants.
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

STRONG - 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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 93
  • Accountability: 84
  • Sustainability: 39
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 85.7%; rating input score 86
  • Program expense ratio: 90.4%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 8th 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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 7.9%; rating input score 57; 57th percentile among comparable filings
  • Total-asset coverage ratio: 0.58; rating input score 27; 27th percentile among comparable filings
  • Liabilities to assets ratio: 0.79; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 12.1%; rating input score 30; 30th percentile among comparable filings

Growth

  • Program expense growth: 25.8% per year; rating input score 100; 88th percentile among comparable filings
  • Revenue growth: 23.9% per year; rating input score 100; 89th percentile among comparable filings
  • Asset growth: 23.4% per year; rating input score 100; 86th percentile among comparable filings

Details

  • Where the money goes: 85.7% of revenue deployed · 90.4% of spending went to programs
  • Governance: 11 of 11 board members independent · 5 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $430K in reported program spending
  • Leadership: top reported pay $58K · 12 people listed
  • Consistency: 24 of 25 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 4 filing years from 2020 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.

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 27/100.
  • Review — Sustainability: Operating margin scored 57/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.
  • Moderate — Sustainability: Officer compensation ratio scored 30/100.