Greater Wilmington Chamber Foundation

Nonprofit profile at a glance

EIN
237337244
IRS 990 coverage
2016–2024
Forms available
Form 990 2024, Form 990-EZ 2020
Location
Wilmington, NC, USA
Phone
9107622611
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$1,687,069
Expenses
$1,668,202
Assets
$2,472,476
Liabilities
$1,794,600

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

Leadership & pay

10 people listed

Executive titles in this filing

  • NATALIE ENGLISH (PRESIDENT/SECRETARY)

Highest reported compensation

  • NATALIE ENGLISH (PRESIDENT/SECRETARY): $292,326 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 foundation operates to administer programs to promote and increase public knowledge, awareness and understanding of matters of public concern, and for improvements of health, safety, education and welfare of the citizens of wilmington, North Carolina.

What it reported doing in 2024

Leadership wilmington - the objective of leadership wilmington is to educate, challange and motivate leaders and future leaders to utilize their leadership skills to work for the betterment of our community. The components that are stressed throughout the program are leadership skills/styles, community issues and challenges, dynamic or regional social and economic change, diversity and team projects.

Operating model

Revenue model
Grant-funded. 67% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 99% 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 the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 71
  • Accountability: 73
  • Sustainability: 43
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97.1%; rating input score 97
  • Program expense ratio: 97%; rating input score 97
  • 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; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90%; rating input score 90; 23rd percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • 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: Pass

Sustainability

  • Operating margin: 1.1%; rating input score 39; 39th percentile among comparable filings
  • Total-asset coverage ratio: 1.48; rating input score 55; 55th percentile among comparable filings
  • Liabilities to assets ratio: 0.73; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 1.3%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 30.6% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: 34% per year; rating input score 100; 94th percentile among comparable filings
  • Asset growth: 20.8% per year; rating input score 100; 83rd percentile among comparable filings

Details

  • Where the money goes: 97.1% of revenue deployed · 97% of spending went to programs
  • Governance: 9 of 10 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.6M in reported program spending
  • Leadership: top reported pay $292K · 10 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 7 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 39/100.
  • Review — Sustainability: Total-asset coverage ratio scored 55/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.