Is Monmouth Regional Chamber Of Commerce Inc Legit?
Quick charity verification for Monmouth Regional Chamber Of Commerce Inc (EIN: 210724285)
Verdict: Monmouth Regional Chamber Of Commerce Inc appears trustworthy
85/100Mission Score
$256KRevenue
$129KAssets
2Red Flags
4Strengths
Red Flags
Unusual $0 assets and liabilities reported in the latest 2023 filing, requiring further clarification.
Periods of deficit spending, such as in 2022 and 2021, where expenses exceeded revenue.
Strengths
Consistent reporting of 0% officer compensation across all filings, indicating low administrative overhead.
Long history of IRS 990 filings, demonstrating transparency and stability.
Generally stable revenue generation, with surpluses in several recent years (e.g., 2023, 2020, 2018, 2017).
Positive net assets in most years prior to the 2023 filing, indicating financial reserves.
Spending Breakdown
How Monmouth Regional Chamber Of Commerce Inc 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 Monmouth Regional Chamber Of Commerce Inc
Is Monmouth Regional Chamber Of Commerce Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Monmouth Regional Chamber Of Commerce Inc (EIN: 210724285) appears trustworthy. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
Is Monmouth Regional Chamber Of Commerce Inc a good charity to donate to?
Monmouth Regional Chamber Of Commerce Inc has a Mission Score of 85/100. Revenue: $256K. Assets: $129K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Monmouth Regional Chamber Of Commerce Inc?
The Employer Identification Number (EIN) for Monmouth Regional Chamber Of Commerce Inc is 210724285. 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 Monmouth Regional Chamber Of Commerce Inc spend its money?
Monmouth Regional Chamber Of Commerce Inc allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Monmouth Regional Chamber Of Commerce Inc's tax-exempt status?
You can verify Monmouth Regional Chamber Of Commerce Inc's tax-exempt status using EIN 210724285 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 Monmouth Regional Chamber Of Commerce Inc demonstrates a generally stable financial position, with revenues consistently covering expenses in most recent years. For instance, in 2023, the organization reported revenues of $262,649 against expenses of $246,417, indicating a surplus. However, there have been periods of deficit spending, such as in 2022 where expenses ($237,681) exceeded revenues ($195,858). The organization's assets have fluctuated, reaching a high of $227,957 in 2018 but showing $0 in assets and liabilities in the latest 2023 filing, which could indicate a change in reporting or asset management. The consistent reporting of 0% officer compensation across all available filings suggests a volunteer-led or very lean executive structure, which is a positive indicator for donor confidence regarding administrative overhead.
Spending efficiency appears reasonable given the nature of a chamber of commerce, which typically focuses on member services and community engagement. Without a detailed breakdown of program vs. administrative expenses, it's challenging to precisely quantify efficiency, but the overall financial health suggests operations are sustainable. The lack of reported officer compensation is a significant strength in terms of minimizing administrative costs. The organization's consistent filing of IRS Form 990s over many years demonstrates a commitment to transparency, providing a clear historical record of its financial activities.
While the 2023 filing shows $0 for both assets and liabilities, which is unusual and warrants further investigation, the overall trend points to a well-established entity. The organization's ability to generate consistent revenue streams, primarily from membership and events, supports its mission. The absence of executive compensation is a strong positive for spending efficiency, implying that a significant portion of funds can be directed towards its core activities of supporting local businesses and economic development.