Shorewood Area Chamber of Commerce Inc

Nonprofit profile at a glance

EIN
363537902
IRS 990 coverage
2010–2020
Forms available
Form 990 2020, Form 990-EZ 2015
Location
Shorewood, IL, USA
Rating
47
Verdict
MIXED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$45,454
Expenses
$51,606
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • CAROL WAGNER (PRESIDENT)

People named in this filing

  • JAMES SERR (DIRECTOR)
  • SCOTT WISNESKI (DIRECTOR)
  • JAN WOREK (FINANCE 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 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To foster growth, development, and success of shorewood area businesses through on-going programs which educate, encourage, and strengthen chamber members; to represent the members within the business community and the community at large.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 97% of its reported program spending out as grants.

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: 11
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 30
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 12.5%; rating input score 13
  • Program expense ratio: 11.2%; rating input score 11
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: -13.5%; rating input score 47; 47th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: -27.8% per year; rating input score 0; 18th percentile among comparable filings
  • Revenue growth: -3.3% per year; rating input score 0; 56th percentile among comparable filings
  • Asset growth: -9.6% per year; rating input score 0; 15th percentile among comparable filings

Details

  • Where the money goes: 12.5% of revenue deployed · 11.2% of spending went to programs
  • Governance: 8 of 8 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $6K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 5 filing years from 2010 to 2020
  • Contacts: How to reach this organization
  • 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: Mission deployment rate scored 13/100.
  • High — Financial Efficiency: Program expense ratio scored 11/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • Moderate — Sustainability: Operating margin scored 47/100.
  • High — Growth: Asset growth scored 0/100.