Chatham Area Chamber of Commerce Inc
Nonprofit profile at a glance
- EIN
- 371307691
- IRS 990 coverage
- 2013–2024
- Forms available
- Form 990 2024
- Location
- Chatham, IL, USA
- Phone
- 2174836450
- Rating
- 47
- Verdict
- MIXED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $106,279
- Expenses
- $83,839
- Assets
- $116,315
- Liabilities
- $12,028
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
11 people listed
Executive titles in this filing
- Tracy Formea (Past President)
- Dr Becca Lamon (Vice President)
- Michael Murphy (President)
People named in this filing
- Zach Thornton (Director)
- Amy Byers (Director)
- Jane Hay (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
Undertake and support activities that promote the general business environment in Chatham, IL, and support charitable organizations in the community.
What it reported doing in 2024
The Chamber successfully awarded two college scholarships to local students entering business programs. They have also had continued growth in the community's business network environment.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- 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.
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: 90
- Accountability: 70
- Sustainability: 61
- Growth: 60
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: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 2 of 7 controls in place; rating input score 29
- 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: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Fail
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 21.1%; rating input score 75; 75th percentile among comparable filings
- Total-asset coverage ratio: 1.39; rating input score 49; 49th percentile among comparable filings
- Liabilities to assets ratio: 0.1; rating input score 26; 26th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 3.5% per year; rating input score 100; 44th percentile among comparable filings
- Asset growth: 3.4% per year; rating input score 100; 40th percentile among comparable filings
Details
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 11 of 11 board members independent · 2 of 7 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $0 · 11 people listed
- Consistency: 12 of 13 current checks pass · 1 finding to review
- Schedules: 3 filed schedules
- Filing history: 11 filing years from 2013 to 2024
- Contacts: How to reach this organization
- 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.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- Moderate — Sustainability: Total-asset coverage ratio scored 49/100.
- High — Sustainability: Liabilities to assets ratio scored 26/100.