Greater New Smyrna Beach Chamber of Commerce

Nonprofit profile at a glance

EIN
590542380
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
New Smyrna Beach, FL, USA
Phone
3864282449
Rating
84
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$371,464
Expenses
$399,134
Assets
$189,600
Liabilities
$110,199

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

Leadership & pay

16 people listed

People named in this filing

  • KAISEY BALBOA (BOARD MEMBER)
  • KHELSEA BAUR (BOARD MEMBER)
  • JARRETT CORY (BOARD MEMBER)

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 chamber convenes local businesses and governmental entities to build partnerships that foster community. They nurture businesses and their employees through leadership programs, community forums, networking, and special events. By taking on big challenges, they gain greater exposure beyond southeast volusia.

What it reported doing in 2024

The sev chamber has made significant strides in fostering community engagement and economic development through its various initiatives. The ambassador program stands out as a key achievement, with dedicated volunteers enhancing member relations and promoting chamber events. The chamber's committees, covering areas such as economic development, workforce, and education, have been instrumental in driving strategic initiatives and addressing local issues. Throughout the year, the chamber hosts a variety of special events, including a business expo, networking mixers, and educational workshops, all aimed at supporting local businesses and strengthening the regional economy. These accomplishments reflect the chamber's commitment to creating a vibrant and prosperous community.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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.

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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 28
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.7%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -7.4%; rating input score 26; 26th percentile among comparable filings
  • Total-asset coverage ratio: 0.48; rating input score 23; 23rd percentile among comparable filings
  • Liabilities to assets ratio: 0.58; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 7.7% per year; rating input score 100; 63rd percentile among comparable filings
  • Revenue growth: 5.5% per year; rating input score 100; 55th percentile among comparable filings
  • Asset growth: 2.3% per year; rating input score 100; 35th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.7% of spending went to programs
  • Governance: 16 of 16 board members independent · 3 of 7 filing controls reported
  • Programs: 4 filed program accomplishments
  • Leadership: top reported pay $0 · 16 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 5 filing years from 2020 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.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Sustainability: Operating margin scored 26/100.
  • High — Sustainability: Total-asset coverage ratio scored 23/100.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.