Waltham Chamber of Commerce Inc

Nonprofit profile at a glance

EIN
041944360
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Waltham, MA, USA
Phone
7818944700
Rating confidence
Limited

Reported finances

Revenue
$283,104
Expenses
$334,217
Assets
$162,350
Liabilities
$75,362

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

Leadership & pay

20 people listed

Executive titles in this filing

  • DOUGLAS G WAYBRIGHT (PRESIDENT)
  • MOLYNA RICHARDS (EXECUTIVE DIRECTOR)

Highest reported compensation

  • MOLYNA RICHARDS (EXECUTIVE DIRECTOR): $103,035 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 is dedicated to promoting sound economic growth and opportunity for its membership and a strong quality of life for the community through leadership, education, information and advocacy.

What it reported doing in 2024

Programs carried out by the chamber contribute towards coordinating the concerns & efforts of the business & professional community in improving the local business climate.

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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 92
  • Accountability: 87
  • Sustainability: 17
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 95%; rating input score 95; 26th 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -18.1%; rating input score 15; 15th percentile among comparable filings
  • Total-asset coverage ratio: 0.49; rating input score 24; 24th percentile among comparable filings
  • Liabilities to assets ratio: 0.46; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 30.8%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -2.4% per year; rating input score 0; 16th percentile among comparable filings
  • Asset growth: -3.5% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 19 of 20 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $103K · 20 people listed
  • Consistency: 11 of 11 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 15/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Total-asset coverage ratio scored 24/100.
  • High — Sustainability: Officer compensation ratio scored 10/100.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.