Laurens County Chamber of Commerce Foundation Inc

Nonprofit profile at a glance

EIN
874506590
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2021
Location
Clinton, SC, USA
Phone
8648332716
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Voluntarism Promotion

Official website

Reported finances

Revenue
$156,311
Expenses
$202,955
Assets
$202,174
Liabilities
$0

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

Leadership & pay

6 people listed

People named in this filing

  • BRENDA LIGON (SECRETARY)
  • WENDY MEDLOCK (CHAIR)
  • LIZ SELF (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

The laurens county chamber of commerce foundation inc. Will operate as an eleemosynary corporation under the laws of the state of South Carolina for the following purposes: to receive, hold, manage, invest or arrange for investing and to acquire by gift, devise, bequest, purchase or otherwise use property of any kind and funds to advance the mission of the laurens county chamber of commerce.

What it reported doing in 2024

To receive, hold, manage, invest or arrange for investing and to acquire by gift, devise, bequest, purchase or otherwise use property of any kind and funds to advance the mission of the laurens county chamber of commerce.

Operating model

Revenue model
Earned-program. 100% 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: 84
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 34
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 85.8%; rating input score 86
  • 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 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: -29.8%; rating input score 10; 10th percentile among comparable filings
  • Total-asset coverage ratio: 1; rating input score 40; 40th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 18.4% per year; rating input score 100; 83rd percentile among comparable filings
  • Revenue growth: 8.2% per year; rating input score 100; 66th percentile among comparable filings
  • Asset growth: 26.5% per year; rating input score 100; 90th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 85.8% of spending went to programs
  • Governance: 6 of 6 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $174K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Operating margin scored 10/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 40/100.