Midland Chamber of Commerce
Nonprofit profile at a glance
- EIN
- 750436936
- IRS 990 coverage
- 2012–2024
- Forms available
- Form 990 2024
- Location
- Midland, TX, USA
- Phone
- 4326833381
- Rating confidence
- Limited
Reported finances
- Revenue
- $3,120,633
- Expenses
- $2,733,019
- Assets
- $1,656,259
- Liabilities
- $135,479
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
16 people listed
Executive titles in this filing
- EVAN THOMAS (PRESIDENT AND CEO)
- ROBERT BURNS (FORMER PRESIDENT AND CEO)
Highest reported compensation
- ROBERT BURNS (FORMER PRESIDENT AND CEO): $217,521 total reported compensation
- EVAN THOMAS (PRESIDENT AND CEO): $213,536 total reported compensation
- REBECCA THOMAS (FORMER EXECUTIVE VP ADMINI): $175,252 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 midland chamber of commerce provides resources and services to promote and foster business growth and success for its members and the community.
What it reported doing in 2024
The midland chamber of commerce sponsors and hosts a program called young professionals of midland. This program is dedicated to service-related projects and the development of young professionals, ages 21 to 40, who live and work in midland, Texas. Young professionals of midland is charged with providing an avenue for young professionals to develop professional and leadership skills, build a network with like-minded peers, establish roots in the community, and energize efforts that benefit and serve midland.
Operating model
- Revenue model
- Earned-program. 70% 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: 68
- Accountability: 94
- Sustainability: 46
- Growth: 100
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: 1 of 6 controls in place; rating input score 17
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 95.7%; rating input score 96; 30th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 97.3%; rating input score 97; 27th percentile among comparable filings
- Governance controls: 8 of 9 controls in place; rating input score 89
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 12.4%; rating input score 67; 67th percentile among comparable filings
- Total-asset coverage ratio: 0.61; rating input score 22; 22nd percentile among comparable filings
- Liabilities to assets ratio: 0.08; rating input score 62; 62nd percentile among comparable filings
- Officer compensation ratio: 22.2%; rating input score 10; 10th percentile among comparable filings
Growth
- Program expense growth: 1.6% per year; rating input score 100; 20th percentile among comparable filings
- Revenue growth: 1.9% per year; rating input score 100; 20th percentile among comparable filings
- Asset growth: 7.6% per year; rating input score 100; 48th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 36 of 37 board members independent · 8 of 9 filing controls reported
- Programs: 5 filed program accomplishments · $832K in reported program spending
- Leadership: top reported pay $218K · 16 people listed · 1 of 6 pay-setting controls reported
- Highest-paid contractors: 1 contractor listed · $114K reported
- Consistency: 13 of 14 current checks pass · 1 finding to review
- Schedules: 5 filed schedules · includes grants and executive pay
- Filing history: 13 filing years from 2012 to 2024
- Contacts: How to reach this organization
- Money network: 11 filed money-flow records
- Related organizations: 8 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.
- 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 — Sustainability: Total-asset coverage ratio scored 22/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- Review — Accountability: Governance controls: Other executive compensation review process not reported.
- High — Sustainability: Officer compensation ratio scored 10/100.