Owasso Chamber of Commerce

Nonprofit profile at a glance

EIN
731133740
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Owasso, OK, USA
Phone
9182722141
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$524,952
Expenses
$526,201
Assets
$266,129
Liabilities
$13,480

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

Leadership & pay

19 people listed

Executive titles in this filing

  • CHELSEA LEVO FEARY (President/CEO)

Highest reported compensation

  • CHELSEA LEVO FEARY (President/CEO): $133,380 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 develop, encourage promote and protect the commercial, professional, financial, general buiness and residential interests of the owasso community; to promote the civic interests and the general welfare of the community; to extend and promote trade and commerce; and to foster, develop and protect the industry and residential developments of the owasso area.

What it reported doing in 2024

Promote and organize meetings with guests speakers and other activities that promote the civic interests and the general welfare of the community; that promote trade and commerce; and that help to develop, encourage and promote the general business and residential interest of the owasso community.

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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 90
  • Accountability: 69
  • Sustainability: 31
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97.2%; rating input score 97
  • Program expense ratio: 96.9%; rating input score 97
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -0.2%; rating input score 35; 35th percentile among comparable filings
  • Total-asset coverage ratio: 0.51; rating input score 24; 24th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 52; 52nd percentile among comparable filings
  • Officer compensation ratio: 25.3%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: 7% per year; rating input score 100; 51st percentile among comparable filings
  • Revenue growth: 8.8% per year; rating input score 100; 62nd percentile among comparable filings
  • Asset growth: 18.8% per year; rating input score 100; 80th percentile among comparable filings

Details

  • Where the money goes: 97.2% of revenue deployed · 96.9% of spending went to programs
  • Governance: 15 of 15 board members independent · 2 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $510K in reported program spending
  • Leadership: top reported pay $133K · 19 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 10 filing years from 2015 to 2024
  • 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.

  • High — Accountability: Governance controls: 5 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 35/100.
  • High — Sustainability: Total-asset coverage ratio scored 24/100.
  • High — Sustainability: Officer compensation ratio scored 10/100.
  • Review — Sustainability: Liabilities to assets ratio scored 52/100.