Yancey CountyBurnsville Chamber of Commerce

Nonprofit profile at a glance

EIN
561153002
IRS 990 coverage
2018–2023
Forms available
Form 990 2023, Form 990-EZ 2017
Location
Burnsville, NC, USA
Phone
8286827413
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$488,061
Expenses
$487,779
Assets
$313,285
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • Christine Kay Wood (Executive Director)
  • Kem Muller (President)
  • April Grindstaff (President Elect)

Highest reported compensation

  • Christine Kay Wood (Executive Director): $56,439 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Empowering members through education, advocacy, and partnership.

What it reported doing in 2023

Yancey Chamber After Hours: The Yancey County Chamber of Commerces Business After Hours are premier networking gatherings held at various local businesses througout the county. These events offer Chamber members and local professionals the opportunity to connect, collaborate, and build relationships in a relaxed, after-work setting. Attendees also enjoy refreshments, explore host venues, and engage in meaningful conversations that foster community and business growth. Each event showcases a different local business, providing insights into their operations and contribtuions to the community. With ten events hosted annually, Business After Hours serves as a cornerstone for professional networking and community engagement in Yancey County. Leadership Yancey: Leadership Yancey County is a seven-month leadership development program organized by the Yancey County Chamber of Commerce. Through monthly sessions, participants explore key sectors such as education, industry, health, and human services, small business, tourism, parks and recreation, agriculture, and local government. The program includes site visits and interactive learning experiences designed to deepen understanding of the countys assets and challenges. With a $200 fee covering meals, transportation, and material, Leadership Yancey equips emerging leaders with the knowledge and connections needed to shape the communitys future.

Operating model

Revenue model
Grant-funded. 66% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 94% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing does not identify recipients for some grant dollars and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 90
  • Transparency & Controls: 69
  • Accountability: 74
  • Sustainability: 41
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.6%; rating input score 93
  • Program expense ratio: 92.7%; rating input score 93
  • Fundraising efficiency: $30.97 raised per $1 spent on fundraising; rating input score 68; 68th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 20.1%; rating input score 20; 40th 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: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 0.1%; rating input score 41; 41st percentile among comparable filings
  • Total-asset coverage ratio: 0.64; rating input score 29; 29th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 81; 81st percentile among comparable filings
  • Officer compensation ratio: 11.6%; rating input score 28; 28th percentile among comparable filings

Growth

  • Program expense growth: 21.4% per year; rating input score 100; 84th percentile among comparable filings
  • Revenue growth: 11.8% per year; rating input score 100; 76th percentile among comparable filings
  • Asset growth: 9% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • Where the money goes: 92.6% of revenue deployed · 92.7% of spending went to programs
  • Governance: 11 of 11 board members independent · 3 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $452K in reported program spending
  • Leadership: top reported pay $56K · 12 people listed
  • Consistency: 28 of 29 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 6 filing years from 2018 to 2023
  • 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 — Transparency & Controls: Grant itemization coverage scored 20/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 41/100.
  • High — Sustainability: Total-asset coverage ratio scored 29/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 28/100.