The Chamber of Commerce Grand Haven Spring Lake Ferrysburg

Nonprofit profile at a glance

EIN
382467974
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Grand Haven, MI, USA
Phone
6168424910
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$947,215
Expenses
$880,181
Assets
$1,101,736
Liabilities
$976,784

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

Leadership & pay

16 people listed

Executive titles in this filing

  • MARK ALLEN (PRESIDENT)

Highest reported compensation

  • MARK ALLEN (PRESIDENT): $114,664 total reported compensation

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

Overview

Mission

The chamber provides hyper local support, connections and solutions for economic and business growth within northwest ottawa county.

What it reported doing in 2024

The chamber hosts various events and programs providing opportunities for business connections and the sharing of community information. Some of these events include our monthly early bird breakfasts, golf outing, annual meeting, after hours bash events and networking at noon.

Operating model

Revenue model
Other-operating. 88% of the money available for current operations came from other operating 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. 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: 47
  • Transparency & Controls: 100
  • Accountability: 90
  • Sustainability: 45
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 51.7%; rating input score 52
  • Program expense ratio: 55.4%; rating input score 55
  • Fundraising efficiency: Limited

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: Yes; rating input score 100

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: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 7.1%; rating input score 55; 55th percentile among comparable filings
  • Total-asset coverage ratio: 1.25; rating input score 50; 50th percentile among comparable filings
  • Liabilities to assets ratio: 0.89; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 13%; rating input score 28; 28th percentile among comparable filings

Growth

  • Program expense growth: 18.2% per year; rating input score 100; 80th percentile among comparable filings
  • Revenue growth: 1.5% per year; rating input score 100; 22nd percentile among comparable filings
  • Asset growth: 14.2% per year; rating input score 100; 71st percentile among comparable filings

Details

  • Where the money goes: 51.7% of revenue deployed · 55.4% of spending went to programs
  • Governance: 12 of 12 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $115K · 16 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 4 filed schedules · includes related organizations
  • Filing history: 8 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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 — Financial Efficiency: Mission deployment rate scored 52/100.
  • Review — Financial Efficiency: Program expense ratio scored 55/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Review — Sustainability: Operating margin scored 55/100.
  • Review — Sustainability: Total-asset coverage ratio scored 50/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • High — Sustainability: Officer compensation ratio scored 28/100.