Rockford Chamber of Commerce
Nonprofit profile at a glance
- EIN
- 381886122
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Rockford, MI, USA
- Phone
- 6168662000
- Rating
- 77
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $397,177
- Expenses
- $342,869
- Assets
- $280,624
- Liabilities
- $162,273
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
12 people listed
Executive titles in this filing
- JOEL KOCH (PRESIDENT)
Highest reported compensation
- MEGAN DEAN (EXECUTIVE DI): $59,775 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The rockford chamber of commerce and its member businesses create a successful, profitable and positive business environment that strengthens and enhances the quality of life in the rockford area.
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 a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 64
- Transparency & Controls: 90
- Accountability: 88
- Sustainability: 45
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 68.4%; rating input score 68
- Program expense ratio: 78.8%; rating input score 79
- Fundraising efficiency: Limited
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: 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: Pass
- 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: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 13.7%; rating input score 66; 66th percentile among comparable filings
- Total-asset coverage ratio: 0.82; rating input score 35; 35th percentile among comparable filings
- Liabilities to assets ratio: 0.58; rating input score 10; 10th percentile among comparable filings
- Officer compensation ratio: 17.4%; rating input score 22; 22nd percentile among comparable filings
Growth
- Program expense growth: 8.6% per year; rating input score 100; 66th percentile among comparable filings
- Revenue growth: 9.9% per year; rating input score 100; 72nd percentile among comparable filings
- Asset growth: 11.5% per year; rating input score 100; 70th percentile among comparable filings
Details
- Where the money goes: 68.4% of revenue deployed · 78.8% of spending went to programs
- Governance: 13 of 13 board members independent · 5 of 7 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $60K · 12 people listed
- Consistency: 25 of 25 current checks pass
- Schedules: 2 filed schedules
- Filing history: 15 filing years from 2010 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.
- Review — Accountability: Governance controls: Independent financial-statement audit not reported.
- Moderate — Sustainability: Total-asset coverage ratio scored 35/100.
- High — Sustainability: Liabilities to assets ratio scored 10/100.
- High — Sustainability: Officer compensation ratio scored 22/100.