Columbia Chamber of Commerce

Nonprofit profile at a glance

EIN
430223250
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Columbia, MO, USA
Phone
5738741132
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$1,578,043
Expenses
$1,555,170
Assets
$1,705,279
Liabilities
$574,067

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

Leadership & pay

10 people listed

Executive titles in this filing

  • LILY BOYD (INTERIM CEO)
  • MATT MCCORMICK (PRESIDENT & CEO)

Highest reported compensation

  • MATT MCCORMICK (PRESIDENT & CEO): $211,483 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 mission of the columbia chamber of commerce is to lead our community, drive commerce in our region and advance community and regional collaborations, therby enhancing the quality of where we live, learn, work and play.

What it reported doing in 2024

Economic development for business members and residents of the community

Operating model

Revenue model
Other-operating. 95% of the money available for current operations came from other operating revenue.
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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. Fundraising costs are high for each dollar raised and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 54
  • Transparency & Controls: 66
  • Accountability: 95
  • Sustainability: 38
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 60.3%; rating input score 60
  • Program expense ratio: 61.8%; rating input score 62
  • Fundraising efficiency: $0 raised per $1 spent on fundraising; rating input score 1; 1st percentile among comparable filings

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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1.4%; rating input score 40; 40th percentile among comparable filings
  • Total-asset coverage ratio: 1.1; rating input score 46; 46th percentile among comparable filings
  • Liabilities to assets ratio: 0.34; rating input score 22; 22nd percentile among comparable filings
  • Officer compensation ratio: 13.6%; rating input score 26; 26th percentile among comparable filings

Growth

  • Program expense growth: -2% per year; rating input score 0; 12th percentile among comparable filings
  • Revenue growth: 2.3% per year; rating input score 100; 26th percentile among comparable filings
  • Asset growth: 1.3% per year; rating input score 100; 22nd percentile among comparable filings

Details

  • Where the money goes: 60.3% of revenue deployed · 61.8% of spending went to programs
  • Governance: 24 of 24 board members independent · 7 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $961K in reported program spending
  • Leadership: top reported pay $211K · 10 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2011 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.

  • High — Financial Efficiency: Fundraising efficiency scored 1/100.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 40/100.
  • Review — Accountability: Governance controls: Conflict-of-interest policy not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 46/100.
  • High — Sustainability: Liabilities to assets ratio scored 22/100.
  • High — Sustainability: Officer compensation ratio scored 26/100.