Putnam County Chamber of Commerce

Nonprofit profile at a glance

EIN
620432130
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Cookeville, TN, USA
Phone
9315262211
Rating
45
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,716,154
Expenses
$2,204,592
Assets
$1,462,792
Liabilities
$460,651

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

Leadership & pay

25 people listed

Executive titles in this filing

  • AMY NEW (PRESIDENT/CE)

Highest reported compensation

  • AMY NEW (PRESIDENT/CE): $236,782 total reported compensation
  • LYNNE MATTHEWS (VP OF OPERAT): $82,364 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 strengthen the region by cultivating a vibrant economy and enhancing quality of life. Our primary vision is to be a catalyst for a collaborative and prosperous region.

What it reported doing in 2024

Economic development: strive to create an environment in putnam county where residents can live and work successfully. This includes new job development services to existing business and industry technical training.

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

The verdict

MIXED - 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: 0
  • Transparency & Controls: 76
  • Accountability: 93
  • Sustainability: 17
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 16th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: No; rating input score 0

Accountability

  • Independent voting board: 95.8%; rating input score 96; 26th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -28.5%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 0.66; rating input score 30; 30th percentile among comparable filings
  • Liabilities to assets ratio: 0.31; rating input score 24; 24th percentile among comparable filings
  • Officer compensation ratio: 14.5%; rating input score 24; 24th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 0.5% per year; rating input score 100; 17th percentile among comparable filings
  • Asset growth: 6.9% per year; rating input score 100; 47th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 23 of 24 board members independent · 8 of 9 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $237K · 25 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 15 of 17 current checks pass · 2 findings to review
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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.
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Sustainability: Operating margin scored 6/100.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 30/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 24/100.
  • High — Sustainability: Officer compensation ratio scored 24/100.