Venice Area Chamber of Commerce Inc

Nonprofit profile at a glance

EIN
590493595
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Venice, FL, USA
Phone
9414882236
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$652,982
Expenses
$659,208
Assets
$1,147,456
Liabilities
$415,721

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

Leadership & pay

17 people listed

Executive titles in this filing

  • KATHLEEN LEHNER (President & CEO)

Highest reported compensation

  • KATHLEEN LEHNER (President & CEO): $119,962 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 commerce in the venice / nokomis area

What it reported doing in 2024

Publishes monthly newsletter which is distributed to all members. Produces area guidebook and maps that are distributed gratis to visitors & residents.

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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of total spending goes to programs and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 54
  • Transparency & Controls: 90
  • Accountability: 95
  • Sustainability: 38
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 60.8%; rating input score 61
  • Program expense ratio: 59.2%; rating input score 59
  • 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: 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: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -1%; rating input score 33; 33rd percentile among comparable filings
  • Total-asset coverage ratio: 1.74; rating input score 60; 60th percentile among comparable filings
  • Liabilities to assets ratio: 0.36; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 18.2%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: 69.5% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: -4.6% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: 5.7% per year; rating input score 100; 42nd percentile among comparable filings

Details

  • Where the money goes: 60.8% of revenue deployed · 59.2% of spending went to programs
  • Governance: 15 of 15 board members independent · 7 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $931K in reported program spending
  • Leadership: top reported pay $120K · 17 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 6 filing years from 2019 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: Program expense ratio scored 59/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 33/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Officer compensation ratio scored 17/100.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.