Taylor Chamber of Commerce

Nonprofit profile at a glance

EIN
740934175
IRS 990 coverage
2015–2024
Forms available
Form 990 2024, Form 990-EZ 2020
Location
Taylor, TX, USA
Phone
5123526364
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$366,238
Expenses
$385,022
Assets
$605,280
Liabilities
$197,329

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

Leadership & pay

16 people listed

Executive titles in this filing

  • TIA STONE (PRESIDENT)

Highest reported compensation

  • TIA STONE (PRESIDENT): $74,000 total reported compensation

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

Overview

Mission

1) the promotion of economic development of taylor.2) the promotion of tourism in taylor; serving as the disbursing agent of the city's hotel/motel funds for that purpose

What it reported doing in 2024

Promoted tourism and commerce in the community; served as disbursing agent for city's hotel/motel tax. The chamber worked with the city and other agencies to establish a 'brand' for the community. The chamber also supports member businesses with tools and connections to them grow.

Operating model

Revenue model
Earned-program. 87% of the money available for current operations came from fees and other program revenue.
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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 55
  • Transparency & Controls: 90
  • Accountability: 95
  • Sustainability: 33
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 61.8%; rating input score 62
  • Program expense ratio: 60.8%; rating input score 61
  • Fundraising efficiency: $0.34 raised per $1 spent on fundraising; rating input score 4; 4th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 7 of 8 controls in place; rating input score 88
    • 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -5.1%; rating input score 29; 29th percentile among comparable filings
  • Total-asset coverage ratio: 1.57; rating input score 53; 53rd percentile among comparable filings
  • Liabilities to assets ratio: 0.33; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 19.2%; rating input score 20; 20th percentile among comparable filings

Growth

  • Program expense growth: 28.7% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: 8.9% per year; rating input score 100; 69th percentile among comparable filings
  • Asset growth: 20.2% per year; rating input score 100; 85th percentile among comparable filings

Details

  • Where the money goes: 61.8% of revenue deployed · 60.8% of spending went to programs
  • Governance: 16 of 16 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $234K in reported program spending
  • Leadership: top reported pay $74K · 16 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 8 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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: Fundraising efficiency scored 4/100.
  • High — Sustainability: Operating margin scored 29/100.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 53/100.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.
  • High — Sustainability: Officer compensation ratio scored 20/100.