Wichita Falls Chamber of Commerce and Industry
Nonprofit profile at a glance
- EIN
- 751102461
- IRS 990 coverage
- 2011–2024
- Forms available
- Form 990 2024
- Location
- Wichita Falls, TX, USA
- Phone
- 9407232741
- Rating confidence
- Limited
Reported finances
- Revenue
- $3,291,245
- Expenses
- $2,766,974
- Assets
- $1,710,021
- Liabilities
- $574,702
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
48 people listed
Executive titles in this filing
- RONNIE R KITCHEN (CHIEF EXECUTIVE OFFICER)
Highest reported compensation
- RONNIE R KITCHEN (CHIEF EXECUTIVE OFFICER): $282,378 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 organization's mission is (1)to promote total community development in the city of wichita falls, Texas and the region and to coordinate and mobilize the aggregate manpower and resources available for such total community and regional development;(2)to promote business interests in the city of wichita falls, Texas and the region, including rendering financial and other assistance to the manufacturing, industrial, scientific, educational, governmental and business enterprises situated in the city of wichita falls, Texas and the region; and (3)to induce the location in the city of wichita falls, Texas and the region of other manufacturing, industrial, scientific, educational, governmental and business establishments.
What it reported doing in 2024
Economic development includes maintaining and building a robust local economy by retaining and expanding existing industries, as well as promoting business expansion and attracting new employers.
Operating model
- Revenue model
- Other-operating. 87% of the money available for current operations came from other operating revenue.
- 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: 71
- Accountability: 100
- Sustainability: 47
- Growth: 60
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; 63rd percentile among comparable filings
- Pay-setting controls: 2 of 6 controls in place; rating input score 33
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Missing
- Board or committee approval: Pass
- 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: 8 of 8 controls in place; rating input score 100
- 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: Pass
Sustainability
- Operating margin: 15.9%; rating input score 72; 72nd percentile among comparable filings
- Total-asset coverage ratio: 0.62; rating input score 22; 22nd percentile among comparable filings
- Liabilities to assets ratio: 0.34; rating input score 31; 31st percentile among comparable filings
- Officer compensation ratio: 10.2%; rating input score 29; 29th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 4.6% per year; rating input score 100; 38th percentile among comparable filings
- Asset growth: 2.8% per year; rating input score 100; 23rd percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 47 of 47 board members independent · 8 of 8 filing controls reported
- Programs: 3 filed program accomplishments · $2.7M in reported program spending
- Leadership: top reported pay $282K · 48 people listed · 2 of 6 pay-setting controls reported
- Consistency: 13 of 13 current checks pass
- Schedules: 3 filed schedules · includes executive pay
- Filing history: 13 filing years from 2011 to 2024
- 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.
- High — Sustainability: Total-asset coverage ratio scored 22/100.
- High — Sustainability: Officer compensation ratio scored 29/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 31/100.