Greater Holyoke Chamber Centennial Foundation Inc

Nonprofit profile at a glance

EIN
110339109
IRS 990-EZ coverage
2018–2021
Forms available
Form 990 2017, Form 990-EZ 2021
Location
Holyoke, MA, USA
Phone
4135343376
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Employment Procurement Assistance

Reported finances

Revenue
$184,010
Expenses
$190,139
Assets
$6,150
Liabilities
$0

Source: IRS Form 990-EZ. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

12 people listed

People named in this filing

  • KEVIN MCCAFFREY (PAST CHAIR)
  • BRIAN SULLIVAN (DIRECTOR)
  • CHELSEA FALCETTI (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-EZ. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote adult and family literacy in the holyoke area and to assist in job placement for unemployed community residents in local businesses.

What it reported doing in 2021

The foundation contributes to the economic development and economic vitality of the community by working collaboratively with and in support of the chamber of commerce. It advises chamber members and the broader community by guiding and participating in programs and initiatives related to: - human capital, education and workforce development. - research and strategic planning to guide the chamber of commerce policies related to business needs and economic development of the region. - business education and support for entrepreneurship. - fundraising: finding the resources to achieve chamber objectives and access funding opportunities. - special projects of strategic importance to the business community.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Grant intermediary. The nonprofit sent 99% 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. Revenue has declined or grown slowly and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 100
  • Transparency & Controls: 82
  • Sustainability: 27
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -3.3%; rating input score 19; 19th percentile among comparable filings
  • Total-asset coverage ratio: 0.03; rating input score 4; 4th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 79; 79th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 65; 65th percentile among comparable filings

Growth

  • Program expense growth: 10.6% per year; rating input score 100; 67th percentile among comparable filings
  • Revenue growth: -38.1% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: -50.1% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $190K in reported program spending
  • Leadership: top reported pay $0 · 12 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 4 filing years from 2018 to 2021
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 19/100.
  • High — Sustainability: Total-asset coverage ratio scored 4/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.