National Gay & Lesbian Chamber of Commerce
Nonprofit profile at a glance
- EIN
- 134219714
- IRS 990 coverage
- 2015–2024
- Forms available
- Form 990 2024
- Location
- Washington, DC, USA
- Phone
- 2022349181
- Rating confidence
- Limited
- Sector
- Chambers of Commerce & Business Leagues
Reported finances
- Revenue
- $10,769,698
- Expenses
- $9,346,229
- Assets
- $17,064,904
- Liabilities
- $5,663,752
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
13 people listed
Executive titles in this filing
- CHANCE MITCHELL (CO-FOUNDER, CEO)
- JUSTIN NELSON (CO-FOUNDER, PRESIDENT)
Highest reported compensation
- CHANCE MITCHELL (CO-FOUNDER, CEO): $667,112 total reported compensation
- JUSTIN NELSON (CO-FOUNDER, PRESIDENT): $645,189 total reported compensation
- ANTHONY WISNIEWSKI (EXECUTIVE VP): $220,978 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Advocating on behalf of gay, lesbian, bi-sexual and transgender (lgbt) owned businesses, professional, student of business, and corporations. Formation of a broad-based coalition representative of various interests of lgbt-owned and friendly business; and to help expand opportunities, growth, innovation and equality within the lgbt community.
What it reported doing in 2024
Nglcc has partnered with USAID in an initiative to promote lgbt business growth in specific countries in latin america and other selected locales around the world. In addition assisting member countries in launching their own lgbt chamber of commerce and creating avenues for us lgbt businesses to become trading and strategic partners with nascent lgbt businesses in targeted program countries, it will also encourage program country businesses to become suppliers to the international 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.
- Includes noncash contributions: Reported contributions include donated property or goods.
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: 82
- Accountability: 81
- Sustainability: 57
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 93.3%; rating input score 93; 14th percentile among comparable filings
- Pay-setting controls: 5 of 6 controls in place; rating input score 83
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Pass
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 45.5%; rating input score 45; 11th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 75%; rating input score 75; 14th 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: 13.2%; rating input score 73; 73rd percentile among comparable filings
- Total-asset coverage ratio: 1.83; rating input score 58; 58th percentile among comparable filings
- Liabilities to assets ratio: 0.33; rating input score 43; 43rd percentile among comparable filings
- Officer compensation ratio: 22.7%; rating input score 3; 3rd percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 10.6% per year; rating input score 100; 76th percentile among comparable filings
- Asset growth: 26.6% per year; rating input score 100; 95th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 6 of 8 board members independent · 8 of 9 filing controls reported
- Programs: 3 filed program accomplishments
- Leadership: top reported pay $667K · 13 people listed · 5 of 6 pay-setting controls reported
- Highest-paid contractors: 2 contractors listed · $229K reported
- Consistency: 17 of 18 current checks pass · 1 finding to review
- Schedules: 9 filed schedules · includes major donors, grants, executive pay, and related organizations
- Filing history: 9 filing years from 2015 to 2024
- Contacts: How to reach this organization
- Money network: 76 filed money-flow records
- Related organizations: 69 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.
- Moderate — Transparency & Controls: Grant itemization coverage scored 45/100.
- Review — Accountability: Governance controls: Other executive compensation review process not reported.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- Review — Sustainability: Total-asset coverage ratio scored 58/100.
- High — Sustainability: Officer compensation ratio scored 3/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 43/100.