Greater San Fernando Valley Chamber of Commerce

Nonprofit profile at a glance

EIN
951329756
IRS 990 coverage
2013–2023
Forms available
Form 990 2023
Location
Van Nuys, CA, USA
Phone
8189890300
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$1,116,113
Expenses
$1,118,051
Assets
$80,737
Liabilities
$255,570

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

18 people listed

Executive titles in this filing

  • Nancy Hoffman (Secretary/CEO)

Highest reported compensation

  • Nancy Hoffman (Secretary/CEO): $88,529 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote economic development in general, support, and retain business in the region, create networking and promotional opportunities among chamber members, facilitate community outreach to augment and support local educational and vocational endeavors.

What it reported doing in 2023

Generated and maintained membership, heightened membership involvement and increased networking and promotional opportunities among participants. Attracted and provided support for businesses in the San Fernando Valley region and enhanced and promoted economic development. Facilitated community outreach programs, supported local educational and vocational endeavors, and instilled pride in the community. Improved relationships with local government and business for the betterment of our communities.

Operating model

Revenue model
Earned-program. 77% 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.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 60
  • Accountability: 90
  • Sustainability: 24
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 85.1%; rating input score 85
  • Program expense ratio: 85%; rating input score 85
  • 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: 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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: -0.2%; rating input score 37; 37th percentile among comparable filings
  • Total-asset coverage ratio: 0.07; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: 3.17; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 7.9%; rating input score 44; 44th percentile among comparable filings

Growth

  • Program expense growth: 22.2% per year; rating input score 100; 84th percentile among comparable filings
  • Revenue growth: 22.7% per year; rating input score 100; 87th percentile among comparable filings
  • Asset growth: 6.5% per year; rating input score 100; 46th percentile among comparable filings

Details

  • Where the money goes: 85.1% of revenue deployed · 85% of spending went to programs
  • Governance: 17 of 17 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $89K · 18 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 23 of 23 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 10 filing years from 2013 to 2023
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Sustainability: Operating margin scored 37/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.
  • Moderate — Sustainability: Officer compensation ratio scored 44/100.