Little River Chamber of Commerce and Visitors Cent

Nonprofit profile at a glance

EIN
010810218
IRS 990 coverage
2011–2021
Forms available
Form 990 2021
Location
Myrtle Beach, SC, USA
Rating
68
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$377,755
Expenses
$297,322
Assets
$195,822
Liabilities
$176,559

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

9 people listed

People named in this filing

  • SHERRI CRAWFORD (DIRECTOR)
  • HEIDE MISHOE (DIRECTOR)
  • MATTHEW TOWNS (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 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote local businesses, commerce and the little river, sc area through member services, advertising and promotion of tourism, festivals, and other community events by proactive leadership and community involvement

What it reported doing in 2021

Membership services - part of the chambers mission is to be a community leader and assist in the economic development of the region. The benefits of membership are both direct and significant with opportunities for advertising, networking, referrals, personal and business participation. Business after hours and ribbon cutting grand opening events allow area members to showcasae their business to the local community and fellow businesses festivals and events - the filing organization hosts a variety of community based festivals and events throughout the year. The shrimpfest is an annual festival which attracts over 12000 - 15000 visitors. The world famous blue crab festival is an annual festival which attracts people from the local area as well as tourists in the grand strand area. These fesitvals allow for the promotion of the little river area advertising and promotion of tourism - part of the mission of the little river chamber of commerce is to provide community leadership through the promotion of economic development including tourism. This is accomplished through the resources of state and local accomodation tax (a-tax) funds received from government to use toward advertising and promotion of tourism in various media outlets including the internet. Additionally, the chamber maintains a visitors center where information is displayed and available to the general public about tourism, clubs, organizations, business, industry, relocation and general information about little river, sc area plus where to stay, play, shop and dine, etc

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 37
  • Transparency & Controls: 100
  • Accountability: 88
  • Sustainability: 48
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 35.1%; rating input score 35
  • Program expense ratio: 44.5%; rating input score 44
  • Fundraising efficiency: $8.14 raised per $1 spent on fundraising; rating input score 29; 29th 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: 21.3%; rating input score 68; 68th percentile among comparable filings
  • Total-asset coverage ratio: 0.66; rating input score 25; 25th percentile among comparable filings
  • Liabilities to assets ratio: 0.9; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 70; 70th percentile among comparable filings

Growth

  • Program expense growth: -10% per year; rating input score 0; 16th percentile among comparable filings
  • Revenue growth: 5.5% per year; rating input score 100; 61st percentile among comparable filings
  • Asset growth: 18.1% per year; rating input score 100; 80th percentile among comparable filings

Details

  • Where the money goes: 35.1% of revenue deployed · 44.5% of spending went to programs
  • Governance: 12 of 12 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $132K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 11 filing years from 2011 to 2021
  • 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 — Financial Efficiency: Mission deployment rate scored 35/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 44/100.
  • High — Financial Efficiency: Fundraising efficiency scored 29/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Total-asset coverage ratio scored 25/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.