Monticello Chamber of Commerce and Industry

Nonprofit profile at a glance

EIN
411504510
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-EZ 2022
Location
Monticello, MN, USA
Phone
7632952700
Rating
54
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$300,061
Expenses
$282,428
Assets
$180,748
Liabilities
$5,100

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

Leadership & pay

11 people listed

Highest reported compensation

  • DEBRA MEYER (ASSISTANT DIRECTOR): $84,209 total reported compensation
  • MARCY ANDERSON (DIRECTOR): $35,170 total reported compensation

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

Overview

Mission

Economic & community development

What it reported doing in 2024

Promote economic & community development. Encourage growth of existing businesses while assisting businesses seeking to locate in the monticello area. Support activities beneficial to the community.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

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: 29
  • Transparency & Controls: 83
  • Accountability: 64
  • Sustainability: 38
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 31.7%; rating input score 32
  • Program expense ratio: 33.6%; rating input score 34
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 22nd 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: 1 of 8 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • 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: 5.9%; rating input score 52; 52nd percentile among comparable filings
  • Total-asset coverage ratio: 0.64; rating input score 30; 30th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 37; 37th percentile among comparable filings
  • Officer compensation ratio: 42.3%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: -4.1% per year; rating input score 0; 19th percentile among comparable filings
  • Revenue growth: 2.1% per year; rating input score 100; 35th percentile among comparable filings
  • Asset growth: 6.8% per year; rating input score 100; 55th percentile among comparable filings

Details

  • Where the money goes: 31.7% of revenue deployed · 33.6% of spending went to programs
  • Governance: 11 of 11 board members independent · 1 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $84K · 11 people listed
  • Consistency: 21 of 22 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 7 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 32/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 34/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Review — Sustainability: Operating margin scored 52/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 30/100.
  • High — Sustainability: Officer compensation ratio scored 6/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 37/100.