West Michigan Hispanic Chamber of Commerce Foundation

Nonprofit profile at a glance

EIN
275303783
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-EZ 2019, Form 990-N 2017
Location
Grand Rapids, MI, USA
Phone
6164523960
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Economic Development

Official website

Reported finances

Revenue
$2,442,301
Expenses
$1,517,922
Assets
$2,187,337
Liabilities
$906,974

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

Leadership & pay

13 people listed

Executive titles in this filing

  • GUILLERMO CISNEROS (PRESIDENT &)

Highest reported compensation

  • GUILLERMO CISNEROS (PRESIDENT &): $177,887 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 foundation promotes economic development by fostering the next generation of new businesses and creating related employment opportunities.

What it reported doing in 2024

The foundation supports the west Michigan hispanic chamber of commerce and other organzations with similar missions, to increase economic advancement of hispanic owned businesses and to assist the professional growth of hispanic business leaders in west Michigan. A 2024-2025 capital campaign resulted in 573,500 contribution to the chamber to purchase land to build a headquarters. This would allow the chamber to expand current program offerings and services and to serve as a meeting and event space for businesses.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 87
  • Accountability: 84
  • Sustainability: 68
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 61.8%; rating input score 62
  • Program expense ratio: 99.5%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • 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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • 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: Pass

Sustainability

  • Operating margin: 37.8%; rating input score 88; 88th percentile among comparable filings
  • Total-asset coverage ratio: 1.44; rating input score 50; 50th percentile among comparable filings
  • Liabilities to assets ratio: 0.41; rating input score 26; 26th percentile among comparable filings
  • Officer compensation ratio: 1.9%; rating input score 76; 76th percentile among comparable filings

Growth

  • Program expense growth: 24.4% per year; rating input score 100; 89th percentile among comparable filings
  • Revenue growth: 36% per year; rating input score 100; 96th percentile among comparable filings
  • Asset growth: 35.4% per year; rating input score 100; 95th percentile among comparable filings

Details

  • Where the money goes: 61.8% of revenue deployed · 99.5% of spending went to programs
  • Governance: 12 of 12 board members independent · 5 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $1.5M in reported program spending
  • Leadership: top reported pay $178K · 13 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 18 of 18 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 filed related-organization links
  • 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 — Accountability: Governance controls: 3 of 8 not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 50/100.
  • High — Sustainability: Liabilities to assets ratio scored 26/100.