Martinsivlle-hc Chamber Partnership for Economic Growth

Nonprofit profile at a glance

EIN
541627126
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Martinsville, VA, USA
Phone
2766326401
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Official website

Reported finances

Revenue
$347,954
Expenses
$353,876
Assets
$1,059,211
Liabilities
$59,235

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

Leadership & pay

13 people listed

Executive titles in this filing

  • JAY DICKENS (PRESIDENT)

People named in this filing

  • AMANDA WITT-COX (DIRECTOR)
  • MIKE GROGAN (DIRECTOR)
  • JOHN PARKINSON (SECRETARY/TREASURER)

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

Private funds and support for economic development in martinsville-henry county

What it reported doing in 2024

Providing funds for economic development projects in martinsville-henry county, Virginia, and encouragement, promotion, and assistance with economic, civic, and cultural development.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 62% for direct work, and 38% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - 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 revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 77
  • Accountability: 64
  • Sustainability: 49
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 85%; rating input score 85
  • Program expense ratio: 81.6%; rating input score 82
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 85.7%; rating input score 86; 3rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 64.5%; rating input score 65; 45th 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: 1 of 7 controls in place; rating input score 14
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -1.7%; rating input score 35; 35th percentile among comparable filings
  • Total-asset coverage ratio: 2.99; rating input score 69; 69th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 31; 31st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 4.1% per year; rating input score 100; 50th percentile among comparable filings
  • Revenue growth: -0.5% per year; rating input score 0; 22nd percentile among comparable filings
  • Asset growth: 8% per year; rating input score 100; 59th percentile among comparable filings

Details

  • Where the money goes: 85% of revenue deployed · 81.6% of spending went to programs
  • Governance: 13 of 13 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $289K in reported program spending
  • Leadership: top reported pay $0 · 13 people listed
  • Consistency: 22 of 24 current checks pass · 2 findings to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 10 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 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: 5 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 35/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 31/100.