Outer Banks Chamber of Commerce Inc

Nonprofit profile at a glance

EIN
560899110
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Kill Devil Hills, NC, USA
Phone
2524418144
Rating
65
Verdict
SUPPORTED
Rating confidence
Standard

Reported finances

Revenue
$448,468
Expenses
$454,888
Assets
$333,802
Liabilities
$139,101

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

Leadership & pay

21 people listed

Executive titles in this filing

  • KAREN BROWN (President)

Highest reported compensation

  • KAREN BROWN (President): $100,202 total reported compensation

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

Overview

Mission

Empower the Outer Banks business community by promoting and developing economic prosperity.

What it reported doing in 2024

Membership services include distribute brochures & directories on the Outer Banks. Respond to inquiries and general promotion of the area. Approx. 1000 members.

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. 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: 35
  • Transparency & Controls: 100
  • Accountability: 87
  • Sustainability: 30
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 36.1%; rating input score 36
  • Program expense ratio: 35.5%; rating input score 36
  • Fundraising efficiency: $5.29 raised per $1 spent on fundraising; rating input score 23; 23rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 95.2%; rating input score 95; 26th 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: -1.4%; rating input score 36; 36th percentile among comparable filings
  • Total-asset coverage ratio: 0.73; rating input score 33; 33rd percentile among comparable filings
  • Liabilities to assets ratio: 0.42; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 22%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: -4.4% per year; rating input score 0; 18th percentile among comparable filings
  • Revenue growth: 1.4% per year; rating input score 100; 31st percentile among comparable filings
  • Asset growth: -7.5% per year; rating input score 0; 8th percentile among comparable filings

Details

  • Where the money goes: 36.1% of revenue deployed · 35.5% of spending went to programs
  • Governance: 20 of 21 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $162K in reported program spending
  • Leadership: top reported pay $100K · 21 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Financial Efficiency: Mission deployment rate scored 36/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 36/100.
  • High — Financial Efficiency: Fundraising efficiency scored 23/100.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 36/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 33/100.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.
  • High — Sustainability: Officer compensation ratio scored 17/100.