Miami-dade Gay & Lesbian Chamber of Commerce Inc

Nonprofit profile at a glance

EIN
650997245
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Miami Beach, FL, USA
Phone
3056734440
Rating
58
Verdict
MIXED
Rating confidence
Standard
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$339,350
Expenses
$365,371
Assets
$87,209
Liabilities
$150,312

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

Leadership & pay

6 people listed

Executive titles in this filing

  • Lisette Garcia (Executive Director)

Highest reported compensation

  • STEVE ADKINS (Director): $119,596 total reported compensation

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

Overview

Mission

The chambers mission is to promote a unified and thriving, gay and gay-friendly, business & professional community throughout miami-dade county

What it reported doing in 2024

Real Estate Council - to promote a unified and thriving gay friendly business and professional opportunities. To provide Real Estate professionals to network and grow their business.

Operating model

Revenue model
Membership-supported. 62% of the money available for current operations came from membership dues.
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

MIXED - 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: 15
  • Transparency & Controls: 100
  • Accountability: 90
  • Sustainability: 17
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 16.2%; rating input score 16
  • Program expense ratio: 15%; rating input score 15
  • Fundraising efficiency: $2.32 raised per $1 spent on fundraising; rating input score 11; 11th percentile among comparable filings

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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -7.7%; rating input score 25; 25th percentile among comparable filings
  • Total-asset coverage ratio: 0.24; rating input score 13; 13th percentile among comparable filings
  • Liabilities to assets ratio: 1.72; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 32.7%; rating input score 9; 9th percentile among comparable filings

Growth

  • Program expense growth: 1% per year; rating input score 100; 35th percentile among comparable filings
  • Revenue growth: -0.6% per year; rating input score 0; 21st percentile among comparable filings
  • Asset growth: 15.7% per year; rating input score 100; 79th percentile among comparable filings

Details

  • Where the money goes: 16.2% of revenue deployed · 15% of spending went to programs
  • Governance: 4 of 4 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $120K · 6 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 16/100.
  • High — Financial Efficiency: Program expense ratio scored 15/100.
  • High — Financial Efficiency: Fundraising efficiency scored 11/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 25/100.
  • High — Sustainability: Total-asset coverage ratio scored 13/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.
  • High — Sustainability: Officer compensation ratio scored 9/100.