Whitesboro Chamber of Commerce

Nonprofit profile at a glance

EIN
750720023
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023
Location
Whitesboro, TX, USA
Phone
9035643331
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$142,616
Expenses
$115,342
Assets
$179,379
Liabilities
$1,456

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

Leadership & pay

13 people listed

People named in this filing

  • PHIL HARRIS (DIRECTOR)
  • MANDY SANDERS (DIRECTOR)
  • JAMIE OAKLEY (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Promoting the city of whitesboro, tx for mutual benefit of residents and neighbors

What it reported doing in 2024

All activities of the whitesboro area chamber of commerce are to promote economic development within city, along with promoting spirit and pride among the residents of the community. This is done by hosting community events such as the annual peanut festival, chile fest, hometown christmas and various other events that showcase the towns residents, schools, businesses and community.

Operating model

Revenue model
Other-operating. 70% of the money available for current operations came from other operating revenue.
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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. 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: 42
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 63
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 43.4%; rating input score 43
  • Program expense ratio: 53.1%; rating input score 53
  • Fundraising efficiency: $1.22 raised per $1 spent on fundraising; rating input score 6; 6th percentile among comparable filings

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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: 19.1%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 1.56; rating input score 52; 52nd percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 47; 47th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 3.2% per year; rating input score 100; 42nd percentile among comparable filings
  • Asset growth: 3.9% per year; rating input score 100; 42nd percentile among comparable filings

Details

  • Where the money goes: 43.4% of revenue deployed · 53.1% of spending went to programs
  • Governance: 12 of 12 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $61K in reported program spending
  • Leadership: top reported pay $0 · 13 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 3 filed schedules
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 43/100.
  • Review — Financial Efficiency: Program expense ratio scored 53/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 6/100.
  • Review — Sustainability: Total-asset coverage ratio scored 52/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 47/100.