Greater Norwich Area Chamber Of Commerce Incorporated
Greater Norwich Area Chamber Of Commerce operates near break-even with no reported officer compensation.
EIN: 200625785 · Norwich, CT · NTEE: S41 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $335K |
| Total Expenses | $239K |
| Program Spending | 80% |
| CEO/Top Officer Pay | $240,000 |
| Net Assets | $107K |
| Transparency Score | 85/100 |
Is Greater Norwich Area Chamber Of Commerce Incorporated Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Greater Norwich Area Chamber Of Commerce Incorporated directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Greater Norwich Area Chamber Of Commerce Incorporated
Greater Norwich Area Chamber Of Commerce Incorporated (EIN: 200625785) is a nonprofit organization based in Norwich, CT, classified under NTEE code S41. The organization reported total revenue of $335K and total assets of $193K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Greater Norwich Area Chamber Of Commerce Incorporated's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Greater Norwich Area Chamber Of Commerce Incorporated is a small nonprofit that has been operating for 22 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 4.2%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $240K |
| Total Expenses | $239K |
| Surplus / Deficit | +$996 |
| Total Assets | $193K |
| Total Liabilities | $86K |
| Net Assets | $107K |
| Operating Margin | 0.4% |
| Debt-to-Asset Ratio | 44.6% |
| Months of Reserves | 9.7 months |
Financial Health Grade: A
In 2024, Greater Norwich Area Chamber Of Commerce Incorporated reported a surplus of $996 with revenue exceeding expenses, holds 9.7 months of operating reserves (strong position), has a debt-to-asset ratio of 44.6% (moderate leverage).
Financial Trends
Over 14 years of filings (2011–2024), Greater Norwich Area Chamber Of Commerce Incorporated's revenue has grown at a compound annual growth rate (CAGR) of 4.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | -0.6% | -6.9% | -11.8% |
| 2023 | +16.5% | +24.9% | -6.1% |
| 2022 | -24.4% | +11.5% | +9.0% |
| 2021 | +39.1% | -10.2% | +61.2% |
| 2020 | -2.6% | -4.1% | +1.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 2004 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Greater Norwich Area Chamber Of Commerce Incorporated with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Greater Norwich Area Chamber Of Commerce Incorporated allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $996, with revenue exceeding expenses.
- Debt-to-asset ratio: 44.6%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that officers either serve on a volunteer basis or their compensation falls below the IRS reporting threshold for Form 990, which is a positive sign for resource allocation relative to the organization's size and revenue of approximately $240,000 annually.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Greater Norwich Area Chamber Of Commerce Incorporated's IRS 990 filings:
- Liabilities represent a notable portion of assets (e.g., $86,041 liabilities vs. $192,914 assets in 202406), warranting monitoring.
Strengths
The following positive indicators were identified for Greater Norwich Area Chamber Of Commerce Incorporated:
- 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).
Frequently Asked Questions about Greater Norwich Area Chamber Of Commerce Incorporated
Is Greater Norwich Area Chamber Of Commerce Incorporated a legitimate charity?
Greater Norwich Area Chamber Of Commerce Incorporated (EIN: 200625785) is a registered tax-exempt nonprofit based in Connecticut. Our AI analysis gives it a Mission Score of 85/100. It has 14 years of IRS 990 filings on record. Total revenue: $335K. 1 red flag identified. 4 strengths noted. Financial health grade: A.
How does Greater Norwich Area Chamber Of Commerce Incorporated spend its money?
Greater Norwich Area Chamber Of Commerce Incorporated directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Greater Norwich Area Chamber Of Commerce Incorporated tax-deductible?
Greater Norwich Area Chamber Of Commerce Incorporated is registered as a tax-exempt nonprofit (EIN: 200625785). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Greater Norwich Area Chamber Of Commerce Incorporated CEO make?
Greater Norwich Area Chamber Of Commerce Incorporated's highest-compensated officer earns $240,000 annually. The organization reported $335K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Greater Norwich Area Chamber Of Commerce Incorporated's spending goes to programs?
Greater Norwich Area Chamber Of Commerce Incorporated directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Greater Norwich Area Chamber Of Commerce Incorporated compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Greater Norwich Area Chamber Of Commerce Incorporated is above average for NTEE category S41 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Greater Norwich Area Chamber Of Commerce Incorporated located?
Greater Norwich Area Chamber Of Commerce Incorporated is headquartered in Norwich, Connecticut and files with the IRS under EIN 200625785. It is classified under NTEE code S41.
How many years of IRS 990 filings does Greater Norwich Area Chamber Of Commerce Incorporated have?
Greater Norwich Area Chamber Of Commerce Incorporated has 14 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $335K in total revenue.
Is the Greater Norwich Area Chamber Of Commerce Incorporated financially stable?
Yes, the organization appears financially stable. While operating near break-even in most years (e.g., 202406 revenue $240,367 vs. expenses $239,371), its assets have grown from $96,045 in 201506 to $192,914 in 202406, indicating a healthy financial trajectory.
How does the organization manage executive compensation?
The organization reports 0% officer compensation across all 14 available filings, suggesting that leadership is either entirely volunteer-based or compensated below IRS reporting thresholds, which is a highly efficient use of funds.
Has the organization experienced significant growth in recent years?
Yes, the organization has shown growth. Revenue has increased from $157,729 in 201506 to $240,367 in 202406, and assets have nearly doubled from $96,045 to $192,914 over the same period.
Filing History
IRS 990 filing history for Greater Norwich Area Chamber Of Commerce Incorporated showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Greater Norwich Area Chamber Of Commerce Incorporated's revenue has grown by 70.5%, moving from $141K to $240K. Total assets increased by 233.8% over the same period, from $58K to $193K. Total functional expenses rose by 67.8%, from $143K to $239K. In its most recent filing year (2024), Greater Norwich Area Chamber Of Commerce Incorporated reported a surplus of $996, with revenue exceeding expenses. The organization holds $86K in liabilities against $193K in assets (debt-to-asset ratio: 44.6%), resulting in net assets of $107K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $240K | $239K | $193K | $86K | — | — |
| 2023 | $242K | $257K | $219K | $113K | — | View 990 |
| 2022 | $208K | $206K | $233K | $112K | — | View 990 |
| 2021 | $275K | $185K | $214K | $94K | — | View 990 |
| 2020 | $198K | $206K | $133K | $104K | — | View 990 |
| 2019 | $203K | $214K | $130K | $93K | — | View 990 |
| 2018 | $175K | $157K | $120K | $72K | — | View 990 |
| 2017 | $161K | $163K | $113K | $71K | — | View 990 |
| 2016 | $167K | $154K | $121K | $76K | — | View 990 |
| 2015 | $158K | $147K | $96K | $64K | — | View 990 |
| 2014 | $175K | $131K | $49K | $28K | — | View 990 |
| 2013 | $151K | $172K | $37K | $61K | — | View 990 |
| 2012 | $142K | $141K | $59K | $61K | — | View 990 |
| 2011 | $141K | $143K | $58K | $61K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $240K, expenses of $239K, and assets of $193K (revenue -0.6% year-over-year).
- 2023: Revenue of $242K, expenses of $257K, and assets of $219K (revenue +16.5% year-over-year).
- 2022: Revenue of $208K, expenses of $206K, and assets of $233K (revenue -24.4% year-over-year).
- 2021: Revenue of $275K, expenses of $185K, and assets of $214K (revenue +39.1% year-over-year).
- 2020: Revenue of $198K, expenses of $206K, and assets of $133K (revenue -2.6% year-over-year).
- 2019: Revenue of $203K, expenses of $214K, and assets of $130K (revenue +16.3% year-over-year).
- 2018: Revenue of $175K, expenses of $157K, and assets of $120K (revenue +8.8% year-over-year).
- 2017: Revenue of $161K, expenses of $163K, and assets of $113K (revenue -3.8% year-over-year).
- 2016: Revenue of $167K, expenses of $154K, and assets of $121K (revenue +5.8% year-over-year).
- 2015: Revenue of $158K, expenses of $147K, and assets of $96K (revenue -9.8% year-over-year).
- 2014: Revenue of $175K, expenses of $131K, and assets of $49K (revenue +15.4% year-over-year).
- 2013: Revenue of $151K, expenses of $172K, and assets of $37K (revenue +6.9% year-over-year).
- 2012: Revenue of $142K, expenses of $141K, and assets of $59K (revenue +0.5% year-over-year).
- 2011: Revenue of $141K, expenses of $143K, and assets of $58K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Greater Norwich Area Chamber Of Commerce Incorporated:
Data Sources and Methodology
This transparency report for Greater Norwich Area Chamber Of Commerce Incorporated is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.