Lima Area Chamber Foundation

Nonprofit profile at a glance

EIN
341536300
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Lima, OH, USA
Phone
4192226045
Rating
83
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$715,651
Expenses
$599,226
Assets
$7,630,973
Liabilities
$5,786,480

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

Leadership & pay

8 people listed

People named in this filing

  • LINDA BIENERT (PAST TREASUR)
  • T BLAIN BROCK (MEMBER)
  • ANGELA FINNERTY (SECRETARY/TR)

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 lima area chamber foundation is organized for the purpose of establishing and operating non-profit education programs in the lima and allen county community.

What it reported doing in 2024

The college access/gear up program strives to assist individuals in lima/allen county, and surrounding counties, in pursuing an education beyond high school. The program provides workshops, individual or group sessions, and classroom presentations on academic and college preparation.

Operating model

Revenue model
Donor-supported. 84% of the money available for current operations came from contributions and gifts.
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 liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 92
  • Accountability: 76
  • Sustainability: 72
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 82.3%; rating input score 82
  • Program expense ratio: 97.9%; rating input score 98
  • 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: 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: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 16.3%; rating input score 72; 72nd percentile among comparable filings
  • Total-asset coverage ratio: 12.73; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.76; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 9.2% per year; rating input score 100; 60th percentile among comparable filings
  • Revenue growth: 3.4% per year; rating input score 100; 34th percentile among comparable filings
  • Asset growth: 6.2% per year; rating input score 100; 44th percentile among comparable filings

Details

  • Where the money goes: 82.3% of revenue deployed · 97.9% of spending went to programs
  • Governance: 6 of 6 board members independent · 3 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $587K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.