Chamber of Commerce of Independence

Nonprofit profile at a glance

EIN
480275180
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Independence, KS, USA
Phone
6203311890
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$475,692
Expenses
$503,403
Assets
$545,205
Liabilities
$50,443

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

Leadership & pay

17 people listed

Executive titles in this filing

  • APRIL NUTT (PRESIDENT)

People named in this filing

  • ALICIA YATES (DIRECTOR)
  • EMILY S VAIL-KELLER (TREASURER)
  • TOMMY WOODS (DIRECTOR)

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

Contribute to economic development, community members' leadership, tourism, and promotes community development primarily for the city and citizens of independence, ks.

What it reported doing in 2024

The independence chamber of commerce contributes to the development of community member leadership abilities and provides funds for economic development, tourism, and promotion of the community and economic development in the southeast Kansas area.

Operating model

Revenue model
Other-operating. 61% of the money available for current operations came from other operating revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 47% for direct work, and 53% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 93
  • Accountability: 64
  • Sustainability: 37
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 73.8%; rating input score 74
  • Program expense ratio: 69.7%; rating input score 70
  • Fundraising efficiency: $6.94 raised per $1 spent on fundraising; rating input score 30; 30th percentile among comparable filings

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: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -5.8%; rating input score 28; 28th percentile among comparable filings
  • Total-asset coverage ratio: 1.08; rating input score 43; 43rd percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 27; 27th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 4.5% per year; rating input score 100; 52nd percentile among comparable filings
  • Revenue growth: 2.6% per year; rating input score 100; 39th percentile among comparable filings
  • Asset growth: 4% per year; rating input score 100; 43rd percentile among comparable filings

Details

  • Where the money goes: 73.8% of revenue deployed · 69.7% of spending went to programs
  • Governance: 17 of 17 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $351K in reported program spending
  • Leadership: top reported pay $0 · 17 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 15 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.

  • High — Accountability: Governance controls: 5 of 6 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 30/100.
  • High — Sustainability: Operating margin scored 28/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 43/100.
  • High — Sustainability: Liabilities to assets ratio scored 27/100.