Independence Business Alliance

Nonprofit profile at a glance

EIN
208060756
IRS 990 coverage
2016–2023
Forms available
Form 990 2023, Form 990-EZ 2015
Location
Philadelphia, PA, USA
Phone
2155570190
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$451,472
Expenses
$379,479
Assets
$494,266
Liabilities
$146,689

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

Leadership & pay

24 people listed

Executive titles in this filing

  • ZACHARY WILCHA (CEO)
  • ANNE GEARY (PRESIDENT)

Highest reported compensation

  • ZACHARY WILCHA (CEO): $112,000 total reported compensation

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

Overview

Mission

The mission of the independence business alliance is to promote greater philadelphia's lesbian, gay, bisexual, transgender and queer business and leadership communities to enhance financial opportunities, foster diversity, develop leadership and collaboration and advocate for positive change.

What it reported doing in 2023

Each june, the organization hosts an annual event which includes the election of officers, an opportunity for the members and guests to network and includes a program of speakers that include elected officials, representatives of other chambers of commerce and a report of the status of the organization from the president of the independence business alliance.

Operating model

Revenue model
Earned-program. 66% 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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 92
  • Accountability: 69
  • Sustainability: 50
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 69.2%; rating input score 69
  • Program expense ratio: 82.3%; rating input score 82
  • Fundraising efficiency: $5.45 raised per $1 spent on fundraising; rating input score 23; 23rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 15.9%; rating input score 70; 70th percentile among comparable filings
  • Total-asset coverage ratio: 1.3; rating input score 47; 47th percentile among comparable filings
  • Liabilities to assets ratio: 0.3; rating input score 17; 17th percentile among comparable filings
  • Officer compensation ratio: 29.5%; rating input score 11; 11th percentile among comparable filings

Growth

  • Program expense growth: 17.3% per year; rating input score 100; 81st percentile among comparable filings
  • Revenue growth: 8.5% per year; rating input score 100; 68th percentile among comparable filings
  • Asset growth: 23.6% per year; rating input score 100; 87th percentile among comparable filings

Details

  • Where the money goes: 69.2% of revenue deployed · 82.3% of spending went to programs
  • Governance: 23 of 23 board members independent · 2 of 8 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $112K · 24 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 2 filed schedules · includes major donors
  • Filing history: 8 filing years from 2016 to 2023
  • 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.

  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 23/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 47/100.
  • High — Sustainability: Officer compensation ratio scored 11/100.
  • High — Sustainability: Liabilities to assets ratio scored 17/100.