Six Corners Chamber of Commerce

Nonprofit profile at a glance

EIN
824524479
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2023, Form 990-N 2020
Location
Chicago, IL, USA
Phone
7736854955
Rating
53
Verdict
MIXED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$49,704
Expenses
$40,038
Assets
$13,374
Liabilities
$15,120

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

Leadership & pay

5 people listed

People named in this filing

  • LINDA STAGNER (Executive Dir.)
  • ASGHAR ALI KHAN (Chairman/Pres.)
  • CARLOS SOLORIO (Treasurer)

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

Influence public policy and foster a climate in which businesses can operate profitably as well as encourage and promote positive, well-balanced economic growth through business development.

What it reported doing in 2024

Create a unique and vital shopping/entertainment district that enriches the business community, embraces history, celebrates the arts, preserves our natural environment and promotes quality events to instill a "sense of place" in our community.

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

MIXED - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 45
  • Transparency & Controls: 90
  • Accountability: 30
  • Sustainability: 46
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 40.3%; rating input score 40
  • Program expense ratio: 50%; rating input score 50
  • Fundraising efficiency: $11.2 raised per $1 spent on fundraising; rating input score 56; 56th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 0%; rating input score 0; 9th 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: 19.4%; rating input score 72; 72nd percentile among comparable filings
  • Total-asset coverage ratio: 0.33; rating input score 14; 14th percentile among comparable filings
  • Liabilities to assets ratio: 1.13; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -86.6% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: -87.6% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: -138.9% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 40.3% of revenue deployed · 50% of spending went to programs
  • Governance: 0 of 5 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 2 filing years from 2022 to 2024
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 40/100.
  • High — Accountability: Independent voting board scored 0/100.
  • Review — Financial Efficiency: Program expense ratio scored 50/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 56/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Total-asset coverage ratio scored 14/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.