Gay Lesbian Bisexual Transgender Chamber of Commerce Foundation

Nonprofit profile at a glance

EIN
472725448
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-N 2018
Location
Dallas, TX, USA
Phone
2148214528
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Public Foundations

Reported finances

Revenue
$69,044
Expenses
$108,229
Assets
$94,470
Liabilities
$5,525

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

Leadership & pay

14 people listed

Executive titles in this filing

  • ANTHONY P VEDDA (PRESIDENT/CEO)

Highest reported compensation

  • ANTHONY P VEDDA (PRESIDENT/CEO): $92,672 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 Gay Lesbian Bisexual Transgender Chamber of Commerce Foundation develops leaders in the LGBTQ+ community.

What it reported doing in 2024

Leadership InstituteThe LGBT Leadership Institute is a nine-month leadership development program that runs from September through May. In 2024, we graduated the fourth cohort of the lgbt leadership institute. About the LGBT Leadership Institute-The LGBT Chamber of Commerce Foundation Leadership Institute develops leadership skills for LGBT and Ally professionals. We provide a safe and nurturing environment to develop skills and explore the critical issues facing the LGBTQ+ community. The program presents a diverse cohort of participants with valuable leadership skills, knowledge, and a historical view of the LGBTQ+ community and the equality movement. Upon completing the nine-part program, participants will better understand the community and have obtained advanced leadership skills.

Operating model

Revenue model
Donor-supported. 62% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 70% for direct work, and 30% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 93
  • Accountability: 90
  • Sustainability: 24
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 76.3%; rating input score 76
  • Fundraising efficiency: $3.69 raised per $1 spent on fundraising; rating input score 33; 33rd percentile among comparable filings

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: 95.9%; rating input score 96; 56th percentile among comparable filings
  • 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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: -56.8%; rating input score 27; 27th percentile among comparable filings
  • Total-asset coverage ratio: 0.87; rating input score 23; 23rd percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 9.6%; rating input score 16; 16th percentile among comparable filings

Growth

  • Program expense growth: -5.8% per year; rating input score 0; 36th percentile among comparable filings
  • Revenue growth: -23.1% per year; rating input score 0; 17th percentile among comparable filings
  • Asset growth: -5.3% per year; rating input score 0; 20th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 76.3% of spending went to programs
  • Governance: 13 of 13 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $83K in reported program spending
  • Leadership: top reported pay $93K · 14 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 5 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • 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.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 33/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 27/100.
  • High — Sustainability: Total-asset coverage ratio scored 23/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 16/100.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.