Wayne County Area Chamber of Commerce Inc

Nonprofit profile at a glance

EIN
350956400
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Richmond, IN, USA
Phone
7659621511
Rating
82
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$593,565
Expenses
$524,813
Assets
$834,705
Liabilities
$147,067

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

Leadership & pay

33 people listed

Executive titles in this filing

  • MELISSA VANCE (PRESIDENT/CEO)

Highest reported compensation

  • MELISSA VANCE (PRESIDENT/CEO): $105,213 total reported compensation

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

Overview

Mission

Promote, lead, unite, and serve members, businesses, and the community in order for wayne county to be a great place to live, learn, and do business.

What it reported doing in 2024

Business education liaison program to educate school age children about the richmond wayne county business community including employment opportunities and the benefits of staying in school.

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 98% 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. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 92
  • Accountability: 90
  • Sustainability: 53
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.1%; rating input score 74
  • Program expense ratio: 82.3%; rating input score 82
  • Fundraising efficiency: $6.89 raised per $1 spent on fundraising; rating input score 26; 26th percentile among comparable filings

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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd 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: 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: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 11.6%; rating input score 64; 64th percentile among comparable filings
  • Total-asset coverage ratio: 1.59; rating input score 58; 58th percentile among comparable filings
  • Liabilities to assets ratio: 0.18; rating input score 34; 34th percentile among comparable filings
  • Officer compensation ratio: 20%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: 5.5% per year; rating input score 100; 45th percentile among comparable filings
  • Revenue growth: 4.7% per year; rating input score 100; 41st percentile among comparable filings
  • Asset growth: 11.1% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • Where the money goes: 74.1% of revenue deployed · 82.3% of spending went to programs
  • Governance: 32 of 32 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $432K in reported program spending
  • Leadership: top reported pay $105K · 33 people listed
  • Consistency: 32 of 32 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 13 filing years from 2011 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.

  • High — Financial Efficiency: Fundraising efficiency scored 26/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 58/100.
  • High — Sustainability: Officer compensation ratio scored 15/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 34/100.