Colorado Chamber of Commerce Fka Co Assn of Commerce & Industry
Nonprofit profile at a glance
- EIN
- 840174402
- IRS 990 coverage
- 2015–2024
- Forms available
- Form 990 2024
- Location
- Denver, CO, USA
- Phone
- 3038317411
- Rating
- 44
- Verdict
- MIXED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $3,793,570
- Expenses
- $3,261,163
- Assets
- $5,862,306
- Liabilities
- $3,758,754
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
60 people listed
Executive titles in this filing
- LOREN FURMAN (PRESIDENT &)
Highest reported compensation
- LOREN FURMAN (PRESIDENT &): $396,272 total reported compensation
- DAVID TABOR (EVP BUSINESS): $264,782 total reported compensation
- LISA REEVES (SECRETARY): $188,832 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 Colorado chamber of commerce mission is to enhance the business climate of the state of Colorado by promoting a positive legislative and regulatory environment and providing programs and services for its members, economic education, support for local chambers of commerce throughout the state of Colorado, and services to trade associations that benefit member companies.
What it reported doing in 2024
Work with public, private, legislative bodies to explain the impact of legislative and regulatory procedures on the economic future of the state.
Operating model
- Revenue model
- Earned-program. 97% of the money available for current operations came from fees and other program revenue.
- 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: 66
- Accountability: 94
- Sustainability: 52
- 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; 63rd percentile among comparable filings
- Pay-setting controls: 1 of 6 controls in place; rating input score 17
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 97.6%; rating input score 98; 27th percentile among comparable filings
- Governance controls: 8 of 9 controls in place; rating input score 89
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 14%; rating input score 69; 69th percentile among comparable filings
- Total-asset coverage ratio: 1.8; rating input score 58; 58th percentile among comparable filings
- Liabilities to assets ratio: 0.64; rating input score 15; 15th percentile among comparable filings
- Officer compensation ratio: 45.7%; rating input score 2; 2nd percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 6.6% per year; rating input score 100; 52nd percentile among comparable filings
- Asset growth: 12.6% per year; rating input score 100; 68th percentile among comparable filings
Details
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 40 of 41 board members independent · 8 of 9 filing controls reported
- Programs: 2 filed program accomplishments
- Leadership: top reported pay $396K · 60 people listed · 1 of 6 pay-setting controls reported
- Consistency: 14 of 15 current checks pass · 1 finding to review
- Schedules: 5 filed schedules · includes executive pay
- Filing history: 10 filing years from 2015 to 2024
- Contacts: How to reach this organization
- Money network: 7 filed money-flow records
- 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
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.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- Review — Accountability: Governance controls: Form 990 shared with the board not reported.
- Review — Sustainability: Total-asset coverage ratio scored 58/100.
- High — Sustainability: Officer compensation ratio scored 2/100.
- High — Sustainability: Liabilities to assets ratio scored 15/100.