Greater Fort Myers Chamber of Commerce Foundation Inc

Nonprofit profile at a glance

EIN
650502789
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Fort Myers, FL, USA
Phone
2393322930
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Education N.E.C.

Official website

Reported finances

Revenue
$56,822
Expenses
$41,056
Assets
$153,783
Liabilities
$38,563

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

Leadership & pay

13 people listed

People named in this filing

  • NEFTALI FELICIANO (DIRECTOR)
  • MICHELE HOOVER (DIRECTOR)
  • MATT KARASTAMATIS (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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of the greater fort myers chamber of commerce foundation, inc. Is to support and assist local education at a variety of levels in our community. The foundation, founded in 2004, does this in a variety of ways including the following: providing scholarships for college students; providing grants to educators and educational institutions; supporting educational programs; supporting seminars and workshops of interest for the benefit of the business community and providing recognition for outstanding educators and students.

What it reported doing in 2024

Provide scholarships and grants for students, educators and educational institutions as well as provide educational programs, seminars and workshops for the benefit of the community. For the fiscal year ended june 30, 2024, the foundation awarded four grants/scholarships to educational institutions.

Operating model

Revenue model
Donor-supported. 96% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 84% of its reported program spending out as grants.

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 assets have declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 90
  • Accountability: 88
  • Sustainability: 58
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 72.3%; rating input score 72
  • Program expense ratio: 100%; rating input score 100
  • 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; 64th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 27.7%; rating input score 77; 77th percentile among comparable filings
  • Total-asset coverage ratio: 3.75; rating input score 44; 44th percentile among comparable filings
  • Liabilities to assets ratio: 0.25; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 18.1% per year; rating input score 100; 83rd percentile among comparable filings
  • Revenue growth: 2.6% per year; rating input score 100; 70th percentile among comparable filings
  • Asset growth: -4.5% per year; rating input score 0; 22nd percentile among comparable filings

Details

  • Where the money goes: 72.3% of revenue deployed · 100% of spending went to programs
  • Governance: 13 of 13 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $41K in reported program spending
  • Leadership: top reported pay $0 · 13 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • 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.

  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 44/100.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.