Latin American Chamber of Commerce of Charlotte
Nonprofit profile at a glance
- EIN
- 415840747
- IRS 990 coverage
- 2014–2024
- Forms available
- Form 990 2024
- Location
- Charlotte, NC, USA
- Phone
- 7043432525
- Rating confidence
- Limited
- Sector
- Chambers of Commerce & Business Leagues
Reported finances
- Revenue
- $724,124
- Expenses
- $1,119,326
- Assets
- $308,004
- Liabilities
- $43,074
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
17 people listed
Executive titles in this filing
- GRISELDA BAILEY (OUTGOING - PRESIDENT & CEO)
- MANUEL REY (INCOMING - PRESIDENT & CEO)
Highest reported compensation
- GRISELDA BAILEY (OUTGOING - PRESIDENT & CEO): $114,850 total reported compensation
- MANUEL REY (INCOMING - PRESIDENT & CEO): $18,958 total reported compensation
- BADIH ARANA (CFO): $9,366 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To foster the economic growth and development of the latin american business community in the charlotte, nc region with a platform of events and programs that include opportunities in networking, mentoring, access, retooling seminars, leadership development, and acculturation to help that business community succeed in the us business environment.
What it reported doing in 2024
Connect and empower latino and non-latino businesses, entrepreneurs, and professionals to do business among each other as well as with large corporations and strategic partners in order to find opportunities for growth, prosperity and faster integration in our economy. The organization hosted 16 events throughout the year with 6 programs and 22 seminars on different topics.
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
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 94
- Accountability: 68
- Sustainability: 13
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
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: 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: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 2 of 9 controls in place; rating input score 22
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -54.6%; rating input score 3; 3rd percentile among comparable filings
- Total-asset coverage ratio: 0.28; rating input score 13; 13th percentile among comparable filings
- Liabilities to assets ratio: 0.14; rating input score 37; 37th percentile among comparable filings
- Officer compensation ratio: 12.8%; rating input score 28; 28th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 12% per year; rating input score 100; 72nd percentile among comparable filings
- Asset growth: 11.9% per year; rating input score 100; 64th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 14 of 14 board members independent · 2 of 9 filing controls reported
- Programs: 4 filed program accomplishments
- Leadership: top reported pay $115K · 17 people listed
- Highest-paid contractors: 1 contractor listed · $202K reported
- Consistency: 10 of 10 current checks pass
- Schedules: 5 filed schedules · includes major donors and grants
- Filing history: 10 filing years from 2014 to 2024
- Contacts: How to reach this organization
- Money network: 3 filed money-flow records
- Related organizations: 1 filed related-organization link
- 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: 6 of 8 not reported.
- High — Sustainability: Operating margin scored 3/100.
- High — Sustainability: Total-asset coverage ratio scored 13/100.
- High — Sustainability: Officer compensation ratio scored 28/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 37/100.