Martinsville-henry County Chamber of Commerce Inc

Nonprofit profile at a glance

EIN
540675121
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Martinsville, VA, USA
Phone
2766326401
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$350,658
Expenses
$322,024
Assets
$564,260
Liabilities
$170,429

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

Leadership & pay

16 people listed

People named in this filing

  • CORY HART (DIRECTOR)
  • KENDALL DAVIS (DIRECTOR)
  • AMY GUILLIAMS (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 martinsville-henry county chamber of commerce, inc. Is organized for the purpose of advancing the commercial, industrial, and civic inerests of the city of martinsville and henry county, Virginia

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

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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 90
  • Accountability: 82
  • Sustainability: 53
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.8%; rating input score 92
  • Program expense ratio: 100%; rating input score 100
  • 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: 4 of 7 controls in place; rating input score 57
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 8.2%; rating input score 57; 57th percentile among comparable filings
  • Total-asset coverage ratio: 1.75; rating input score 56; 56th percentile among comparable filings
  • Liabilities to assets ratio: 0.3; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -2.2% per year; rating input score 0; 23rd percentile among comparable filings
  • Revenue growth: -2% per year; rating input score 0; 17th percentile among comparable filings
  • Asset growth: 8.1% per year; rating input score 100; 60th percentile among comparable filings

Details

  • Where the money goes: 91.8% of revenue deployed · 100% of spending went to programs
  • Governance: 16 of 16 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $322K in reported program spending
  • Leadership: top reported pay $0 · 16 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 6 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • 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.

  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Operating margin scored 57/100.
  • Review — Sustainability: Total-asset coverage ratio scored 56/100.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.