Hopewell Prince George Chamber of Commer

Nonprofit profile at a glance

EIN
540251652
IRS 990 coverage
2014–2024
Forms available
Form 990 2024, Form 990-EZ 2013
Location
Hopewell, VA, USA
Phone
8045412461
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$292,413
Expenses
$275,400
Assets
$315,009
Liabilities
$0

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

Leadership & pay

6 people listed

Executive titles in this filing

  • BECKY MCDONOUGH (CHIEF EXECUTIVE OFFICER)
  • KERRICK LOYD (PRESIDENT)
  • ANDREW PARKER (VICE PRESIDENT)
  • DANA NEWCOMER (PAST PRESIDENT)

Highest reported compensation

  • BECKY MCDONOUGH (CHIEF EXECUTIVE OFFICER): $80,000 total reported compensation

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

Overview

Mission

Mission is to champion a thriving, viable, and energized business community to improve the quality of life in this region.

What it reported doing in 2024

Member benefits include business help desk, corporate social responsibility, pro-business advocacy, member gatherings, and marketing and promotion. The chamber also manages the regional tourism programs and a new military affairs council launched for the region.

Operating model

Revenue model
Earned-program. 98% 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

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: 80
  • Transparency & Controls: 90
  • Accountability: 74
  • Sustainability: 48
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.5%; rating input score 87
  • Program expense ratio: 95%; rating input score 95
  • 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 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: 5.8%; rating input score 52; 52nd percentile among comparable filings
  • Total-asset coverage ratio: 1.14; rating input score 44; 44th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 29%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: 3% per year; rating input score 100; 45th percentile among comparable filings
  • Revenue growth: 2.5% per year; rating input score 100; 38th percentile among comparable filings
  • Asset growth: 4.2% per year; rating input score 100; 43rd percentile among comparable filings

Details

  • Where the money goes: 87.5% of revenue deployed · 95% of spending went to programs
  • Governance: 6 of 6 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $262K in reported program spending
  • Leadership: top reported pay $80K · 6 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 10 filing years from 2014 to 2024
  • 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.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Review — Sustainability: Operating margin scored 52/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 44/100.
  • High — Sustainability: Officer compensation ratio scored 12/100.