Morrisville Chamber of Commerce

Nonprofit profile at a glance

EIN
561712502
IRS 990 coverage
2011–2024
Forms available
Form 990 2024, Form 990-EZ 2009
Location
Morrisville, NC, USA
Phone
9194637150
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$352,446
Expenses
$361,861
Assets
$333,927
Liabilities
$171,049

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

Leadership & pay

7 people listed

Executive titles in this filing

  • Rose Cornelious (Former Executive Director)
  • Christie Moser (Chamber President)

Highest reported compensation

  • Rose Cornelious (Former Executive Director): $97,560 total reported compensation
  • Christie Moser (Chamber President): $2,534 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 business, enhance economic and community development while serving as a champion for improving the overall quality of life in the region.

What it reported doing in 2024

The Chamber has successfully developed and produced programs and events and has provided its members with numerous opportunities for networking and growing the economy of Morrisville.

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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. Fundraising costs are high for each dollar raised and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 55
  • Transparency & Controls: 84
  • Accountability: 90
  • Sustainability: 29
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 61.4%; rating input score 61
  • Program expense ratio: 59.8%; rating input score 60
  • Fundraising efficiency: $2.82 raised per $1 spent on fundraising; rating input score 13; 13th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 25th 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: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -2.7%; rating input score 33; 33rd percentile among comparable filings
  • Total-asset coverage ratio: 0.92; rating input score 38; 38th percentile among comparable filings
  • Liabilities to assets ratio: 0.51; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 27.7%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: -2.5% per year; rating input score 0; 22nd percentile among comparable filings
  • Revenue growth: -0.8% per year; rating input score 0; 21st percentile among comparable filings
  • Asset growth: -2.5% per year; rating input score 0; 16th percentile among comparable filings

Details

  • Where the money goes: 61.4% of revenue deployed · 59.8% of spending went to programs
  • Governance: 20 of 20 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $216K in reported program spending
  • Leadership: top reported pay $98K · 7 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 12 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 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.

  • High — Financial Efficiency: Fundraising efficiency scored 13/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 33/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 38/100.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.
  • High — Sustainability: Officer compensation ratio scored 12/100.