Corsicana Area Chamber of Commerce

Nonprofit profile at a glance

EIN
750211120
IRS 990 coverage
2012–2023
Forms available
Form 990 2023
Location
Corsicana, TX, USA
Phone
9038744731
Rating
57
Verdict
MIXED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$165,068
Expenses
$220,625
Assets
$144,363
Liabilities
$150,446

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

5 people listed

Highest reported compensation

  • JOANNA FRITZ (DIRECTOR): $75,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote Corsicana and the surrounding area.

What it reported doing in 2023

To promote the City of Corsicana and the surrounding area.

Operating model

Revenue model
Membership-supported. 65% 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

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: 31
  • Transparency & Controls: 90
  • Accountability: 82
  • Sustainability: 15
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 39.3%; rating input score 39
  • Program expense ratio: 29.2%; rating input score 29
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 4 of 8 controls in place; rating input score 57
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Limited
    • 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: Fail

Sustainability

  • Operating margin: -33.7%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 0.65; rating input score 30; 30th percentile among comparable filings
  • Liabilities to assets ratio: 1.04; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 34%; rating input score 9; 9th percentile among comparable filings

Growth

  • Program expense growth: -8.9% per year; rating input score 0; 13th percentile among comparable filings
  • Revenue growth: -5.4% per year; rating input score 0; 11th percentile among comparable filings
  • Asset growth: -1.8% per year; rating input score 0; 19th percentile among comparable filings

Details

  • Where the money goes: 39.3% of revenue deployed · 29.2% of spending went to programs
  • Governance: 14 of 14 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $64K in reported program spending
  • Leadership: top reported pay $75K · 5 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 8 filing years from 2012 to 2023
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 39/100.
  • High — Financial Efficiency: Program expense ratio scored 29/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 9/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 30/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.
  • High — Sustainability: Officer compensation ratio scored 9/100.