Lower Keys Chamber of Commerce

Nonprofit profile at a glance

EIN
591035427
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Big Pine Key, FL, USA
Phone
3056191877
Rating
43
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$265,976
Expenses
$281,025
Assets
$227,333
Liabilities
$-1,427

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

Leadership & pay

6 people listed

Executive titles in this filing

  • HEIDI MORRIS (President)
  • KEITH HUGHES (Vice President)
  • LESLIE VALANT (PRESIDENT)

Highest reported compensation

  • Steve Miller (Executive Dir.): $60,017 total reported compensation

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

Overview

Mission

A voluntary partnership of business and professional people working together to build a healthy economy and improve the quality of life in the lower keys.

What it reported doing in 2024

Monthly dinners provide a forum for the members to network, socialize and interact with other chamber members to promote their businesses and exchange information regarding the business enviroment in the lower keys.

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

MIXED - Program spending has grown recently. A relatively small share of voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 51
  • Transparency & Controls: 54
  • Accountability: 0
  • Sustainability: 26
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 58%; rating input score 58
  • Program expense ratio: 54.9%; rating input score 55
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 9th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 0 of 8 controls in place; rating input score 0
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -5.7%; rating input score 28; 28th percentile among comparable filings
  • Total-asset coverage ratio: 0.81; rating input score 35; 35th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 21.4%; rating input score 18; 18th percentile among comparable filings

Growth

  • Program expense growth: 21.4% per year; rating input score 100; 85th percentile among comparable filings
  • Revenue growth: 2.3% per year; rating input score 100; 36th percentile among comparable filings
  • Asset growth: 3.6% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: 58% of revenue deployed · 54.9% of spending went to programs
  • Governance: 0 of 5 board members independent · 0 of 8 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $60K · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 20 of 21 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Financial Efficiency: Mission deployment rate scored 58/100.
  • High — Accountability: Governance controls: 7 of 7 not reported.
  • Review — Financial Efficiency: Program expense ratio scored 55/100.
  • High — Sustainability: Operating margin scored 28/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 35/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 18/100.