Ocala-Marion County Chamber of Commerce Inc

Nonprofit profile at a glance

EIN
590345090
IRS 990 coverage
2012–2023
Forms available
Form 990 2023
Location
Ocala, FL, USA
Phone
3526298051
Rating
62
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$3,790,992
Expenses
$3,694,767
Assets
$2,350,733
Liabilities
$993,018

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

35 people listed

Executive titles in this filing

  • Kevin Sheilley (President & CEO)

Highest reported compensation

  • Kevin Sheilley (President & CEO): $235,678 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To be a catalyst for a prosperous community by working with membership and providing programs that foster economic development and improved quality of life in Ocala and Marion County.

What it reported doing in 2023

Business services - To engage all participants and ensure that partners needs are met through strategic networking and forums, talent and workforce development and educational opportunities.

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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - Most voting board members are independent and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 49
  • Transparency & Controls: 60
  • Accountability: 90
  • Sustainability: 36
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 54.2%; rating input score 54
  • Program expense ratio: 55.6%; rating input score 56
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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; 64th 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 2.5%; rating input score 44; 44th percentile among comparable filings
  • Total-asset coverage ratio: 0.64; rating input score 23; 23rd percentile among comparable filings
  • Liabilities to assets ratio: 0.42; rating input score 26; 26th percentile among comparable filings
  • Officer compensation ratio: 6.4%; rating input score 43; 43rd percentile among comparable filings

Growth

  • Program expense growth: 10.9% per year; rating input score 100; 68th percentile among comparable filings
  • Revenue growth: 8.4% per year; rating input score 100; 62nd percentile among comparable filings
  • Asset growth: 7.7% per year; rating input score 100; 49th percentile among comparable filings

Details

  • Where the money goes: 54.2% of revenue deployed · 55.6% of spending went to programs
  • Governance: 34 of 34 board members independent · 6 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $2.1M in reported program spending
  • Leadership: top reported pay $236K · 35 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 22 of 22 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 6 filing years from 2012 to 2023
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Review — Financial Efficiency: Mission deployment rate scored 54/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Financial Efficiency: Program expense ratio scored 56/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 44/100.
  • High — Sustainability: Total-asset coverage ratio scored 23/100.
  • High — Sustainability: Liabilities to assets ratio scored 26/100.
  • Moderate — Sustainability: Officer compensation ratio scored 43/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.