The Chamber of Commerce of Eastern Connecticut Foundation Inc
Nonprofit profile at a glance
- EIN
- 061419657
- IRS 990-EZ coverage
- 2015–2024
- Forms available
- Form 990 2016, Form 990-EZ 2024
- Location
- New London, CT, USA
- Phone
- 8607019113
- Rating
- 93
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Arts, Culture, and Humanities N.E.C.
Reported finances
- Revenue
- $146,979
- Expenses
- $169,002
- Assets
- $293,254
- Liabilities
- $47,653
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
10 people listed
People named in this filing
- Lou Ziegler (Chairman)
- Holly DePerry (Treasurer)
- Karen Roman (Board Member)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To promote initiatives that enhance and enrich education and economic opportunities, especially for children and families, in the Chamber service area.
What it reported doing in 2024
The Holiday Gala is the Foundations largest annual fundraiser, which collects funds through tickets, sponsorships, auctions, and donations in order to provide grants to nonprofit organizations whose mission and programs align with those of the Foundation. These grants are the Foundation's single largest expense. The Bowlathon is a smaller fundraiser whose proceeds support the Foundation's annual scholarship fund for high school students in eastern Connecticut.
Operating model
- Revenue model
- Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
- 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
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and revenue has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 98
- Transparency & Controls: 100
- Sustainability: 37
- Growth: 40
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 95.3%; rating input score 95
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
Sustainability
- Operating margin: -15%; rating input score 11; 11th percentile among comparable filings
- Total-asset coverage ratio: 1.74; rating input score 76; 76th percentile among comparable filings
- Liabilities to assets ratio: 0.16; rating input score 20; 20th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 63; 63rd percentile among comparable filings
Growth
- Program expense growth: 0.7% per year; rating input score 100; 32nd percentile among comparable filings
- Revenue growth: -2.3% per year; rating input score 0; 14th percentile among comparable filings
- Asset growth: -0.2% per year; rating input score 0; 27th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 95.3% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 2 filed program accomplishments · $161K in reported program spending
- Leadership: top reported pay $0 · 10 people listed
- Consistency: 8 of 8 current checks pass
- Schedules: 3 filed schedules
- Filing history: 8 filing years from 2015 to 2024
- Contacts: How to reach this organization
- Money network: 3 filed money-flow records
- 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 — Sustainability: Operating margin scored 11/100.
- High — Growth: Revenue growth scored 0/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Liabilities to assets ratio scored 20/100.