Springfieldclark County Chamber of Commerce

Nonprofit profile at a glance

EIN
310452610
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Springfield, OH, USA
Phone
9373258765
Rating
43
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$2,021,047
Expenses
$2,025,437
Assets
$675,167
Liabilities
$397,509

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

Leadership & pay

21 people listed

Executive titles in this filing

  • MICHAEL MCDORMAN (CEO)

Highest reported compensation

  • MICHAEL MCDORMAN (CEO): $306,959 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Part iii, line 1 - to advance important economic development opportunities and issues, to help our members grow their businesses by delivering outstanding opportunities, to connect with each other and the broader community and to partner wtih other organizations and work cooperatively with government, non-profit and community sectors to promote ground- breaking ideas that will make greater springfield, Ohio progressive.

What it reported doing in 2024

Safety council is a program offered in conjunction with the Ohio bureau of workers' compensation designed to increase safety awareness in the workplace. All members who belong to the safety council and attend a minimum required number of monthly meetings will receive reduced workers' comp rates. The chamber is the sponsoring entity for the council and provides accounting and support services for the council. Approximately 275 members are involved in the safety council. Meetings are held on the 3rd tuesday of each month.

Operating model

Revenue model
Other-operating. 71% 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: 71
  • Accountability: 90
  • Sustainability: 22
  • 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: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: -0.2%; rating input score 32; 32nd percentile among comparable filings
  • Total-asset coverage ratio: 0.33; rating input score 11; 11th percentile among comparable filings
  • Liabilities to assets ratio: 0.59; rating input score 17; 17th percentile among comparable filings
  • Officer compensation ratio: 15.2%; rating input score 18; 18th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 4.1% per year; rating input score 100; 35th percentile among comparable filings
  • Asset growth: 0.6% per year; rating input score 100; 14th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 19 of 19 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $307K · 21 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 13 of 14 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 3 filed related-organization links
  • 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.
  • Moderate — Sustainability: Operating margin scored 32/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Sustainability: Total-asset coverage ratio scored 11/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Liabilities to assets ratio scored 17/100.
  • High — Sustainability: Officer compensation ratio scored 18/100.