Southern Palmetto Regional Chamber of Commerce
Nonprofit profile at a glance
- EIN
- 570656387
- IRS 990 coverage
- 2022–2024
- Forms available
- Form 990 2024, Form 990-EZ 2018, Form 990-N 2021
- Location
- Barnwell, SC, USA
- Phone
- 8035285383
- Rating
- 66
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $111,818
- Expenses
- $111,069
- Assets
- $12,989
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
1 person listed
Executive titles in this filing
- Robert Snead (President and CEO)
People named in this filing
- Robert Snead (President and CEO)
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 Southern Palmetto Regional Chamber serves to foster economic prosperity throughout Barnwell and Allendale Counties with education promotion and collaboration supporting a healthy business community.
What it reported doing in 2024
Propel Business Lab is an innovative small-business incubator hosted by the Southern Regional Palmetto Chamber of Commerce to support entrepreneurs startups and nonprofit leaders across the region. This program provides hands-on training coaching and technical assistance to help participants develop sustainable business models strengthen financial and operational skills and prepare for long-term growth. Through workshops mentorship and community partnerships the Propel Business Lab empowers emerging businesses to thrive and contributes to the economic vitality of the Southern Regional Palmetto area.
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.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 73
- Transparency & Controls: 80
- Accountability: 36
- Sustainability: 39
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 73.3%; rating input score 73
- Program expense ratio: 73.8%; rating input score 74
- Fundraising efficiency: $30.67 raised per $1 spent on fundraising; rating input score 67; 67th percentile among comparable filings
Transparency & Controls
- Consistency checks: 88.9%; rating input score 89; 5th 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: Limited
- Governance controls: 6 of 7 controls in place; rating input score 86
- 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: Pass
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 0.7%; rating input score 41; 41st percentile among comparable filings
- Total-asset coverage ratio: 0.12; rating input score 7; 7th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings
Growth
- Program expense growth: 21.1% per year; rating input score 100; 85th percentile among comparable filings
- Revenue growth: 8.8% per year; rating input score 100; 69th percentile among comparable filings
- Asset growth: -12.9% per year; rating input score 0; 5th percentile among comparable filings
Details
- Where the money goes: 73.3% of revenue deployed · 73.8% of spending went to programs
- Governance: 6 of 7 filing controls reported
- Programs: 11 filed program accomplishments · $86K in reported program spending
- Leadership: top reported pay $0 · 1 people listed
- Consistency: 32 of 40 current checks pass · 8 findings to review
- Schedules: 2 filed schedules
- Filing history: 3 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.
- Review — Accountability: Governance controls: Independent financial-statement audit not reported.
- Moderate — Sustainability: Operating margin scored 41/100.
- High — Sustainability: Total-asset coverage ratio scored 7/100.
- High — Growth: Asset growth scored 0/100.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX Advertising column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX FeesForServicesAccounting column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX FeesForServicesOther column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX Insurance column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX Occupancy column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX OfficeExpenses column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX Travel column sum did not reconcile in the filed values.