Southlake Chamber of Commerce

Nonprofit profile at a glance

EIN
751919765
IRS 990 coverage
2013–2024
Forms available
Form 990 2024, Form 990-N 2015
Location
Southlake, TX, USA
Phone
8174818200
Rating
41
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,684,718
Expenses
$1,672,493
Assets
$745,399
Liabilities
$304,112

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

Leadership & pay

25 people listed

Executive titles in this filing

  • MARK GUILBERT (PRESIDENT/CE)

Highest reported compensation

  • MARK GUILBERT (PRESIDENT/CE): $167,279 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 promote the well-being of its members and the southlake, tx area by encouraging the growth of existing businesses while attracting new firms and individuals.

What it reported doing in 2024

Leadership southlake is a dynamic way for business leaders to learn about southlake. Alumni include a variety of community and civic leaders. For over 30 years, leadership southlake has introduced emerging and recognized leaders to the inner workings of our community through a ten-month program on topics that affect our quality of life, providing professional development, leadership training, and network opportunities.

Operating model

Revenue model
Other-operating. 73% of the money available for current operations came from other operating revenue.
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

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: 66
  • Accountability: 82
  • Sustainability: 31
  • 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 96%; rating input score 96; 26th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • 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: 0.7%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 0.45; rating input score 21; 21st percentile among comparable filings
  • Liabilities to assets ratio: 0.41; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: 10%; rating input score 37; 37th percentile among comparable filings

Growth

  • Program expense growth: -15.1% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: 4.7% per year; rating input score 100; 42nd percentile among comparable filings
  • Asset growth: 3.2% per year; rating input score 100; 31st percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 24 of 25 board members independent · 5 of 8 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $167K · 25 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 12 of 13 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 10 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Sustainability: Operating margin scored 38/100.
  • High — Sustainability: Total-asset coverage ratio scored 21/100.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.
  • Moderate — Sustainability: Officer compensation ratio scored 37/100.