Greater Irving-las Colinas Chamber of Commerce

Nonprofit profile at a glance

EIN
750679582
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Irving, TX, USA
Phone
2142178484
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$4,438,259
Expenses
$4,420,237
Assets
$1,695,569
Liabilities
$244,245

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

Leadership & pay

45 people listed

Executive titles in this filing

  • BETH BOWMAN (PRESIDENT/CEO)

Highest reported compensation

  • BETH BOWMAN (PRESIDENT/CEO): $424,401 total reported compensation
  • DIANA VELAZQUEZ (VP-ECON DEV): $273,281 total reported compensation
  • JOE CHAPA (VP-INTERNATIONAL): $172,117 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To create, advance and promote economic growth for our member investors and community.

What it reported doing in 2024

Economic development - focuses on recruiting new companies into irving while retaining and growing companies with an existing presence in irving. Economic development is responsible for these focus areas in an effort to provide quality jobs and assist in maintaining and growing the local tax base in order to maintain a vibrant economy in irving and its 12,000 acre mixed-use, master-planned community, las colinas.

Operating model

Revenue model
Earned-program. 76% of the money available for current operations came from fees and other program revenue.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 61
  • Transparency & Controls: 83
  • Accountability: 95
  • Sustainability: 28
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68.7%; rating input score 69
  • Program expense ratio: 69.1%; rating input score 69
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 10th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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; 63rd percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0.4%; rating input score 35; 35th percentile among comparable filings
  • Total-asset coverage ratio: 0.38; rating input score 13; 13th percentile among comparable filings
  • Liabilities to assets ratio: 0.14; rating input score 51; 51st percentile among comparable filings
  • Officer compensation ratio: 19.7%; rating input score 13; 13th percentile among comparable filings

Growth

  • Program expense growth: 3.6% per year; rating input score 100; 31st percentile among comparable filings
  • Revenue growth: 2.3% per year; rating input score 100; 22nd percentile among comparable filings
  • Asset growth: 5.7% per year; rating input score 100; 38th percentile among comparable filings

Details

  • Where the money goes: 68.7% of revenue deployed · 69.1% of spending went to programs
  • Governance: 42 of 42 board members independent · 8 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $3.1M in reported program spending
  • Leadership: top reported pay $424K · 45 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $513K reported
  • Consistency: 29 of 30 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 2 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.

  • Moderate — Sustainability: Operating margin scored 35/100.
  • High — Sustainability: Total-asset coverage ratio scored 13/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 13/100.
  • Review — Sustainability: Liabilities to assets ratio scored 51/100.