Illinois State Black Chamber of Commerce Inc

Nonprofit profile at a glance

EIN
364478202
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Peoria, IL, USA
Phone
3097404430
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$805,755
Expenses
$789,513
Assets
$40,394
Liabilities
$0

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

Leadership & pay

19 people listed

Highest reported compensation

  • LARRY D IVORY (PresidentCEO): $133,000 total reported compensation

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

Overview

Mission

The ILBCC is a nonprofit organization dedicated to the economically empowering and sustaining the African American community through entrepreneurship and capitalistic activities in the state of Illinois.

What it reported doing in 2024

Helping African American businesses build capacity through networking, mentoring, and event hosting.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 61
  • Transparency & Controls: 81
  • Accountability: 92
  • Sustainability: 34
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68%; rating input score 68
  • Program expense ratio: 69.4%; rating input score 69
  • Fundraising efficiency: $2.17 raised per $1 spent on fundraising; rating input score 6; 6th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 5th 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: 94.7%; rating input score 95; 25th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 2%; rating input score 42; 42nd percentile among comparable filings
  • Total-asset coverage ratio: 0.05; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 16.8%; rating input score 19; 19th percentile among comparable filings

Growth

  • Program expense growth: -8.4% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: 5% per year; rating input score 100; 43rd percentile among comparable filings
  • Asset growth: 5.4% per year; rating input score 100; 40th percentile among comparable filings

Details

  • Where the money goes: 68% of revenue deployed · 69.4% of spending went to programs
  • Governance: 18 of 19 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $548K in reported program spending
  • Leadership: top reported pay $133K · 19 people listed
  • Consistency: 22 of 23 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 4 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Financial Efficiency: Fundraising efficiency scored 6/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • Moderate — Sustainability: Operating margin scored 42/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Officer compensation ratio scored 19/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.