Is Greater Norwich Area Chamber Of Commerce Incorporated Legit?
Quick charity verification for Greater Norwich Area Chamber Of Commerce Incorporated (EIN: 200625785)
Verdict: Greater Norwich Area Chamber Of Commerce Incorporated appears trustworthy
85/100Mission Score
$335KRevenue
$193KAssets
1Red Flags
4Strengths
Red Flags
Liabilities represent a notable portion of assets (e.g., $86,041 liabilities vs. $192,914 assets in 202406), warranting monitoring.
Strengths
Consistent 0% reported officer compensation, indicating efficient use of funds.
Long history of IRS 990 filings (14 filings), demonstrating transparency.
Assets have shown consistent growth over the past decade, from $96,045 in 201506 to $192,914 in 202406.
Revenues generally cover expenses, indicating sustainable operations (e.g., 202406 revenue $240,367 vs. expenses $239,371).
Spending Breakdown
How Greater Norwich Area Chamber Of Commerce Incorporated allocates its funds across programs, administration, and fundraising.
80%
Program Spending
Healthy — majority goes to mission
15%
Admin Costs
Reasonable — admin costs in check
5%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Greater Norwich Area Chamber Of Commerce Incorporated
Is Greater Norwich Area Chamber Of Commerce Incorporated a legitimate charity?
Based on AI analysis of IRS 990 filings, Greater Norwich Area Chamber Of Commerce Incorporated (EIN: 200625785) appears trustworthy. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
Is Greater Norwich Area Chamber Of Commerce Incorporated a good charity to donate to?
Greater Norwich Area Chamber Of Commerce Incorporated has a Mission Score of 85/100. Revenue: $335K. Assets: $193K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Greater Norwich Area Chamber Of Commerce Incorporated?
The Employer Identification Number (EIN) for Greater Norwich Area Chamber Of Commerce Incorporated is 200625785. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Greater Norwich Area Chamber Of Commerce Incorporated spend its money?
Greater Norwich Area Chamber Of Commerce Incorporated allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Greater Norwich Area Chamber Of Commerce Incorporated's tax-exempt status?
You can verify Greater Norwich Area Chamber Of Commerce Incorporated's tax-exempt status using EIN 200625785 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
The Greater Norwich Area Chamber Of Commerce Incorporated demonstrates consistent financial activity, with revenues generally tracking expenses over the past decade. In the latest period (202406), the organization reported revenues of $240,367 against expenses of $239,371, indicating a near break-even operation. While assets have fluctuated, they have shown growth from $96,045 in 201506 to $192,914 in 202406, suggesting some financial stability. Liabilities have also increased over time, reaching $86,041 in 202406, which is a notable portion of their assets.
The organization's transparency is bolstered by its consistent filing of IRS Form 990s, with 14 filings available. A key aspect of their financial management is the reported 0% officer compensation across all available periods, which is a strong indicator of volunteer leadership or that compensation falls below reporting thresholds, contributing positively to their spending efficiency. However, without a detailed breakdown of expenses into program, administrative, and fundraising categories, a precise assessment of spending efficiency is challenging. The NTEE code S41 (Chambers of Commerce) suggests a focus on community and business development, which would typically involve significant program-related activities.
Overall, the Chamber appears to be a stable, community-focused organization with a history of prudent financial management, particularly regarding executive compensation. Their ability to maintain operations with revenues closely matching expenses, while also growing assets, points to a sustainable model. Further transparency on the allocation of expenses would provide a more complete picture of their operational efficiency and program impact.