Tolland County Chamber of Commerce

Nonprofit profile at a glance

EIN
060719601
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Vernon, CT, USA
Phone
8608720587
Rating
49
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$137,987
Expenses
$130,185
Assets
$205,924
Liabilities
$36,726

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

Leadership & pay

23 people listed

Executive titles in this filing

  • MARIE O'BRIANT (CHAMBER PRESIDENT)
  • MELISSA SMITH (EXECUTIVE DIRECTOR)

Highest reported compensation

  • MELISSA SMITH (EXECUTIVE DIRECTOR): $65,000 total reported compensation

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

Overview

Mission

To promote the business and civic prosperity of the chamber's community.

What it reported doing in 2024

The organization runs programs throughout the year for its members and the chamber's community. Programs such as the annual meeting, seminars, and business networking. The organization held a golf tournament this year as well.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

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: 13
  • Transparency & Controls: 90
  • Accountability: 71
  • Sustainability: 43
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 14%; rating input score 14
  • Program expense ratio: 15.2%; rating input score 15
  • Fundraising efficiency: Limited

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: 94.1%; rating input score 94; 26th percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • 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: 5.7%; rating input score 52; 52nd percentile among comparable filings
  • Total-asset coverage ratio: 1.58; rating input score 53; 53rd percentile among comparable filings
  • Liabilities to assets ratio: 0.18; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 49.9%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: -0.6% per year; rating input score 0; 28th percentile among comparable filings
  • Revenue growth: -2% per year; rating input score 0; 17th percentile among comparable filings
  • Asset growth: -0.3% per year; rating input score 0; 24th percentile among comparable filings

Details

  • Where the money goes: 14% of revenue deployed · 15.2% of spending went to programs
  • Governance: 16 of 17 board members independent · 3 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $20K in reported program spending
  • Leadership: top reported pay $65K · 23 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 14/100.
  • High — Financial Efficiency: Program expense ratio scored 15/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Operating margin scored 52/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 53/100.
  • High — Sustainability: Officer compensation ratio scored 4/100.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.