Prince William Chamber Foundation

Nonprofit profile at a glance

EIN
852781085
IRS 990 coverage
2023–2024
Forms available
Form 990 2024
Location
Manassas, VA, USA
Phone
7033686600
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Public Foundations

Reported finances

Revenue
$290,212
Expenses
$545,056
Assets
$136
Liabilities
$366,093

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

Leadership & pay

13 people listed

Executive titles in this filing

  • BOB SWEENEY (President & CEO)

People named in this filing

  • JENNA NORRIS (Director)
  • GAYLE WHITLOCK (Director)
  • CHRIS PEDEN (Director)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

The foundation mission is to engage and connect the greater prince william county businesses with initiatives that bridge gaps in the areas of education, underserved populations and community building; all to grow and enhance workforce development. The foundation exists to advance the ability of our partners to engage with the community to solve challenges and build on past successes. Accordingly, the foundation will build teams, implement strategies and foster solutions that require buy-in from prince william businesses & community leaders. We will utilize our existing network to enlist those leaders and identify the path to future successes.

What it reported doing in 2024

The foundation mission is to engage and connect the greater prince william county businesses with initiatives that bridge gaps in the areas of education, underserved populations and community building; all to grow and enhance workforce development. The foundation exists to advance the ability of our partners to engage with the community to solve challenges and build on past successes. Accordingly, the foundation's program events synergizes teams, implements strategies and fosters solutions that require buy-in from prince william businesses & community leaders. The foundation utilizes an existing network of local businesses to enlist their leaders and to identify the path to future successes.

Operating model

Revenue model
Earned-program. 79% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 91% 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. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 94
  • Accountability: 88
  • Sustainability: 9
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 81%; rating input score 81
  • Fundraising efficiency: $1.74 raised per $1 spent on fundraising; rating input score 8; 8th 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: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -87.8%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: 2,691.86; rating input score 0; 0th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 33.5% per year; rating input score 100; 92nd percentile among comparable filings
  • Revenue growth: -2.9% per year; rating input score 0; 14th percentile among comparable filings
  • Asset growth: -3.6% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 81% of spending went to programs
  • Governance: 13 of 13 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $442K in reported program spending
  • Leadership: top reported pay $0 · 13 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 8/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 2/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 0/100.