Greater Indianapolis Chamber of Commerce Foundation Inc

Nonprofit profile at a glance

EIN
356017715
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Indianapolis, IN, USA
Phone
3174642200
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$3,079,042
Expenses
$738,694
Assets
$2,707,603
Liabilities
$249,132

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

Leadership & pay

13 people listed

Executive titles in this filing

  • JULIE GRICE (PRESIDENT)

Highest reported compensation

  • JULIE GRICE (PRESIDENT): $315,907 total reported compensation
  • E ZENAI SAVAGE (Chief Finance & Administrative Officer (As of July 2024)): $90,488 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 greater indianapolis chamber of commerce foundation's mission is to encourage, aid or promote educational or charitable organizations' endeavors or economic development activities and to operate for the benefit of the charitable, educational and economic development purposes of the greater indianapolis chamber of commerce.

What it reported doing in 2024

Educational and Charitable Activities: The Chamber Foundation provides grant funding for the charitable and educational components of the Chamber's mission to improve the viability of the economy and to attract and retain businesses in the Greater Indianapolis area for the benefit of the residents of the area.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 57% for direct work, and 43% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 47
  • Transparency & Controls: 75
  • Accountability: 82
  • Sustainability: 82
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 24%; rating input score 24
  • 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: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd 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; 63rd percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 76%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 3.67; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 60; 60th percentile among comparable filings
  • Officer compensation ratio: 4.7%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 3.2% per year; rating input score 100; 28th percentile among comparable filings
  • Revenue growth: 11.5% per year; rating input score 100; 73rd percentile among comparable filings
  • Asset growth: 13.4% per year; rating input score 100; 70th percentile among comparable filings

Details

  • Where the money goes: 24% of revenue deployed · 100% of spending went to programs
  • Governance: 11 of 11 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $739K in reported program spending
  • Leadership: top reported pay $316K · 13 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 18 of 18 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 9 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 4 filed related-organization links
  • 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 — Financial Efficiency: Mission deployment rate scored 24/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • Review — Sustainability: Officer compensation ratio scored 56/100.