Torrance Area Chamber of Commerce

Nonprofit profile at a glance

EIN
951302850
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Torrance, CA, USA
Phone
3105405858
Rating
47
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$683,286
Expenses
$661,577
Assets
$559,526
Liabilities
$139,965

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

Leadership & pay

32 people listed

Executive titles in this filing

  • ANDREA SALA (President & CEO)

Highest reported compensation

  • DONNA DUPERRON (Secretary): $200,575 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 organization's primary exempt purpose is to promote the welfare of the community via civic and business activities pursuant to the Chamber's charter.

What it reported doing in 2024

Programs and Events: the organization sponsors a number of annual events, including Black History Celebration, Chinese New Year Celebration, Gourmet Food and Wine Festival, and the Japanese Reception. The programs include Networking at Noon, Legislative Lunches, Business Expo, Economic Summit, Green Expo, State of the Region, State of Education, and State of the City. The organization has ongoing participation in ribbon cuttings and open houses for new businesses. It is committed to being a valuable resource to its members by sponsoring breakfast meetings and specially focused groups to promote members' interests and causes.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 - Most voting board members are independent and program spending has grown recently. 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: 24
  • Transparency & Controls: 55
  • Accountability: 69
  • Sustainability: 36
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 27%; rating input score 27
  • Program expense ratio: 27.9%; rating input score 28
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 12th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 3.2%; rating input score 45; 45th percentile among comparable filings
  • Total-asset coverage ratio: 0.85; rating input score 37; 37th percentile among comparable filings
  • Liabilities to assets ratio: 0.25; rating input score 28; 28th percentile among comparable filings
  • Officer compensation ratio: 30.3%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: 5.8% per year; rating input score 100; 46th percentile among comparable filings
  • Revenue growth: 2.4% per year; rating input score 100; 27th percentile among comparable filings
  • Asset growth: 12.3% per year; rating input score 100; 66th percentile among comparable filings

Details

  • Where the money goes: 27% of revenue deployed · 27.9% of spending went to programs
  • Governance: 31 of 31 board members independent · 2 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $803K in reported program spending
  • Leadership: top reported pay $201K · 32 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 23 of 24 current checks pass · 1 finding to review
  • Schedules: 4 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
  • 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 27/100.
  • High — Financial Efficiency: Program expense ratio scored 28/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 45/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 37/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 7/100.
  • High — Sustainability: Liabilities to assets ratio scored 28/100.