Michigan Chamber of Commerce

Nonprofit profile at a glance

EIN
381626029
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Lansing, MI, USA
Phone
5173712100
Rating confidence
Limited

Official website

Reported finances

Revenue
$5,572,053
Expenses
$4,953,894
Assets
$7,868,901
Liabilities
$2,582,945

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

Leadership & pay

87 people listed

Executive titles in this filing

  • JAMES HOLCOMB (PRESIDENT & CEO)

Highest reported compensation

  • JAMES HOLCOMB (PRESIDENT & CEO): $556,409 total reported compensation
  • GWENDOLYN BLOCK (VP BUSINESS ADVOCACY/MEMBER ENGAGEMENT): $275,681 total reported compensation
  • ROBERT THOMAS (COO): $256,412 total reported compensation

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

Overview

Mission

To promote conditions favorable to job creation and business success in Michigan.

What it reported doing in 2024

Significant activities include business advocacy, member services, and educational and compliance services. Business advocacy involves the support of pro-business legislation that encourages job creation and economic growth in Michigan. Member services involves cost savings programs such as insurance benefits, discounted credit card processing and utility savings. Educational and compliance services involves offering labor law publications and providing educational seminars on business related topics.

Operating model

Revenue model
Earned-program. 82% of the money available for current operations came from fees and other program revenue.
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

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 91
  • Accountability: 99
  • Sustainability: 50
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 5th percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 96.4%; rating input score 96; 31st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 97.5%; rating input score 98; 27th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 11.1%; rating input score 64; 64th percentile among comparable filings
  • Total-asset coverage ratio: 1.59; rating input score 54; 54th percentile among comparable filings
  • Liabilities to assets ratio: 0.33; rating input score 32; 32nd percentile among comparable filings
  • Officer compensation ratio: 37.3%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -4.7% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: 0.5% per year; rating input score 100; 14th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 39 of 40 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $556K · 87 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $482K reported
  • Consistency: 13 of 14 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, executive pay, and related organizations
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 10 filed money-flow records
  • Related organizations: 9 filed related-organization links
  • 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 — Growth: Revenue growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Sustainability: Total-asset coverage ratio scored 54/100.
  • High — Sustainability: Officer compensation ratio scored 3/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 32/100.