Fredericksburg Chamber of Commerce

Nonprofit profile at a glance

EIN
740633163
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Fredericksburg, TX, USA
Phone
8309975000
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$587,873
Expenses
$495,491
Assets
$685,215
Liabilities
$259,389

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

Leadership & pay

15 people listed

Executive titles in this filing

  • JAMES MIKULA (PRESIDENT)

Highest reported compensation

  • JAMES MIKULA (PRESIDENT): $131,800 total reported compensation
  • CHRISTIE BOURQUIN (EXECUTIVE VP): $60,648 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 chamber of commerce's mission is to promote a positive growing business community.

What it reported doing in 2024

The chamber of commerce's primary service is to promote a positive growing business community.

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

SUPPORTED - 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 assets have declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 90
  • Accountability: 68
  • Sustainability: 52
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 73.8%; rating input score 74
  • Program expense ratio: 87.5%; rating input score 87
  • 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: 2 of 9 controls in place; rating input score 22
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 15.7%; rating input score 71; 71st percentile among comparable filings
  • Total-asset coverage ratio: 1.38; rating input score 53; 53rd percentile among comparable filings
  • Liabilities to assets ratio: 0.38; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: 38.8%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: 32.8% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: 4.4% per year; rating input score 100; 39th percentile among comparable filings
  • Asset growth: -1.8% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: 73.8% of revenue deployed · 87.5% of spending went to programs
  • Governance: 13 of 13 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $433K in reported program spending
  • Leadership: top reported pay $132K · 15 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 9 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 6 of 8 not reported.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 53/100.
  • High — Sustainability: Officer compensation ratio scored 4/100.
  • High — Sustainability: Liabilities to assets ratio scored 20/100.