Frisco Chamber of Commerce

Nonprofit profile at a glance

EIN
752149200
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Frisco, TX, USA
Phone
9723359522
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,731,688
Expenses
$1,554,298
Assets
$1,441,429
Liabilities
$160,338

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

Leadership & pay

20 people listed

Executive titles in this filing

  • CHRISTAL L HOWARD (CEO/PRESIDENT)

Highest reported compensation

  • CHRISTAL L HOWARD (CEO/PRESIDENT): $169,100 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 frisco chamber of commerce is a voluntary member based organization of business and professional men and women who have joined together for the purpose of promoting the civic and business community. The chamber strives to develop strong businesses and vibrant economy through business advocacy and leadership, through programs such as networking, committees, membership meetings and business educational programs. The frisco chamber's goal is to "empower your success".

What it reported doing in 2024

Each year, the frisco chamber of commerce recognizes outstanding entities and individuals at its annual gala, attended by over 600 influential local leaders. Nominations are reviewed by a diverse committee of business professionals. Besides standard awards, the chamber's president and chair each honor a significant contributor to the chamber. Nominations open every fall. Revenue $283,622 with direct expenditures $204,386.

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 most voting board members are independent. Some related-organization disclosures are missing and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 61
  • Accountability: 100
  • Sustainability: 50
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74%; rating input score 74
  • Program expense ratio: 82.3%; rating input score 82
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 19th 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: No; rating input score 0

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • 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: 10.2%; rating input score 62; 62nd percentile among comparable filings
  • Total-asset coverage ratio: 0.93; rating input score 40; 40th percentile among comparable filings
  • Liabilities to assets ratio: 0.11; rating input score 41; 41st percentile among comparable filings
  • Officer compensation ratio: 10.9%; rating input score 34; 34th percentile among comparable filings

Growth

  • Program expense growth: 6.7% per year; rating input score 100; 50th percentile among comparable filings
  • Revenue growth: 6.8% per year; rating input score 100; 53rd percentile among comparable filings
  • Asset growth: 4.2% per year; rating input score 100; 35th percentile among comparable filings

Details

  • Where the money goes: 74% of revenue deployed · 82.3% of spending went to programs
  • Governance: 18 of 18 board members independent · 8 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $1.3M in reported program spending
  • Leadership: top reported pay $169K · 20 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 28 of 29 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 10 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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 — Transparency & Controls: Related-party transparency scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 40/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 34/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 41/100.