Carolinas Lgbt Chamber of Commerce

Nonprofit profile at a glance

EIN
561930236
IRS 990 coverage
2021–2024
Forms available
Form 990 2024, Form 990-N 2019
Location
Charlotte, NC, USA
Phone
4088322195
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Business and Industry

Official website

Reported finances

Revenue
$336,589
Expenses
$402,742
Assets
$42,065
Liabilities
$0

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

Leadership & pay

12 people listed

Executive titles in this filing

  • CHAD TURNER (CEO)

People named in this filing

  • MELISSA MORRIS (CHAIR)
  • BRYAN VANHUYSTEE (DIRECTOR OF FINANCE)
  • MATTHEW HUMPHREY (VICE-CHAIR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To grow and advance economic success, equity & inclusion across the carolinas for lgbtq+ and allied businesses and professionals.

What it reported doing in 2024

Supplier diversity intiatives - this program focuses on empowering minority small businesses within the lgbtq community through comprehensive training, guidance, and support. We offer assistance to these businesses to help them obtain certifications, navigate procurement opportunities, and enhance their ability to respond to rfps. This program is a catalyst for fostering inclusivity, economic growth, and business success.

Operating model

Revenue model
Membership-supported. 69% of the money available for current operations came from membership dues.
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. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 100
  • Accountability: 83
  • Sustainability: 26
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 83.8%; rating input score 84
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 91.7%; rating input score 92; 25th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -19.7%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 0.1; rating input score 7; 7th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 25.6% per year; rating input score 100; 88th percentile among comparable filings
  • Revenue growth: 14.8% per year; rating input score 100; 82nd percentile among comparable filings
  • Asset growth: -33% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 83.8% of spending went to programs
  • Governance: 11 of 12 board members independent · 5 of 7 filing controls reported
  • Programs: 4 filed program accomplishments · $337K in reported program spending
  • Leadership: top reported pay $0 · 12 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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 — Sustainability: Operating margin scored 14/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Total-asset coverage ratio scored 7/100.
  • High — Growth: Asset growth scored 0/100.