Franklin-simpson Chamber of Commerce

Nonprofit profile at a glance

EIN
610661855
IRS 990 coverage
2022–2025
Forms available
Form 990 2025, Form 990-EZ 2021
Location
Franklin, KY, USA
Phone
2705867609
Rating
80
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$178,907
Expenses
$188,815
Assets
$104,772
Liabilities
$4,512

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • KELCIE RICHART (PRESIDENT)
  • CHRIS YOUNG (PAST PRESIDENT)

People named in this filing

  • KELCIE RICHART (PRESIDENT)
  • DARLA KNIGHT (TREASURER)
  • TAMMIE CAREY (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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote franklin-simpson county area

What it reported doing in 2025

The chamber promotes the commercial, industrial, agricultural, civic, and general interests of the franklin-simpson trade area.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 92
  • Accountability: 64
  • Sustainability: 30
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.2%; rating input score 93
  • Program expense ratio: 88.2%; rating input score 88
  • Fundraising efficiency: $20.13 raised per $1 spent on fundraising; rating input score 55; 55th 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: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th 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: -5.5%; rating input score 24; 24th percentile among comparable filings
  • Total-asset coverage ratio: 0.55; rating input score 27; 27th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 28; 28th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: -0.7% per year; rating input score 0; 26th percentile among comparable filings
  • Revenue growth: 1.9% per year; rating input score 100; 29th percentile among comparable filings
  • Asset growth: 5.8% per year; rating input score 100; 48th percentile among comparable filings

Details

  • Where the money goes: 93.2% of revenue deployed · 88.2% of spending went to programs
  • Governance: 9 of 9 board members independent · 1 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $167K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 4 filing years from 2022 to 2025
  • 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 — Accountability: Governance controls: 5 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 55/100.
  • High — Sustainability: Operating margin scored 24/100.
  • High — Sustainability: Total-asset coverage ratio scored 27/100.
  • High — Sustainability: Liabilities to assets ratio scored 28/100.