Polk County Chamber of Commerce

Nonprofit profile at a glance

EIN
740839754
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-EZ 2016
Location
Livingston, TX, USA
Phone
9363274929
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$184,838
Expenses
$182,722
Assets
$193,093
Liabilities
$2,067

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

Leadership & pay

16 people listed

Highest reported compensation

  • YVONNE KING (Executive Dir.): $45,392 total reported compensation
  • BRENDA CLIFTON (Executive Dir.): $26,805 total reported compensation

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

Overview

Mission

Mission Statement of the Chamber is to enhance the success of business, tourism, and the economic and civic interest in Polk County and to promote the quality of life for all citizens.

What it reported doing in 2024

The organization promotes and enhances the success of business, tourism and the economic and civic interest in the local area.

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.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 53
  • Transparency & Controls: 83
  • Accountability: 63
  • Sustainability: 38
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 59.8%; rating input score 60
  • Program expense ratio: 60.5%; rating input score 60
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 22nd 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: 1 of 8 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 1.1%; rating input score 42; 42nd percentile among comparable filings
  • Total-asset coverage ratio: 1.06; rating input score 42; 42nd percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 45; 45th percentile among comparable filings
  • Officer compensation ratio: 39.5%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: 29.1% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: 0.1% per year; rating input score 100; 24th percentile among comparable filings
  • Asset growth: -2.7% per year; rating input score 0; 16th percentile among comparable filings

Details

  • Where the money goes: 59.8% of revenue deployed · 60.5% of spending went to programs
  • Governance: 14 of 14 board members independent · 1 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $45K · 16 people listed
  • Consistency: 24 of 25 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 9 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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 — Accountability: Governance controls: 6 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 42/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 42/100.
  • High — Sustainability: Officer compensation ratio scored 6/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 45/100.