Haitian American Chamber Of Commerce Inc
Haitian American Chamber Of Commerce Inc experiences significant revenue growth with volunteer leadership.
EIN: 202373322 · North Miami, FL · NTEE: S41 · Updated: 2026-03-28
Is Haitian American Chamber Of Commerce Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Haitian American Chamber Of Commerce Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Haitian American Chamber Of Commerce Inc
Haitian American Chamber Of Commerce Inc (EIN: 202373322) is a nonprofit organization based in North Miami, FL, classified under NTEE code S41. The organization reported total revenue of $919K and total assets of $110K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Haitian American Chamber Of Commerce Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Haitian American Chamber Of Commerce Inc is a small nonprofit that has been operating for 19 years, with 11 years of IRS 990 filings on record (2012–2022). Revenue has grown at a compound annual rate of 22.0%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $944K |
| Total Expenses | $908K |
| Surplus / Deficit | +$36K |
| Total Assets | $159K |
| Total Liabilities | $86K |
| Net Assets | $73K |
| Operating Margin | 3.8% |
| Debt-to-Asset Ratio | 54.3% |
| Months of Reserves | 2.1 months |
Financial Health Grade: B
In 2022, Haitian American Chamber Of Commerce Inc reported a surplus of $36K with revenue exceeding expenses, holds 2.1 months of operating reserves (limited), has a debt-to-asset ratio of 54.3% (high leverage).
Financial Trends
Over 11 years of filings (2012–2022), Haitian American Chamber Of Commerce Inc's revenue has grown at a compound annual growth rate (CAGR) of 22.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | +341.8% | +334.6% | +34.4% |
| 2021 | +10.5% | +35.1% | +4.1% |
| 2020 | +89.4% | +28.5% | +123.8% |
| 2019 | -27.5% | +0.8% | +139.4% |
| 2018 | -31.0% | -41.6% | +146.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
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 Haitian American Chamber Of Commerce Inc 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, Haitian American Chamber Of Commerce Inc 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 (2022)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $36K, with revenue exceeding expenses.
- Debt-to-asset ratio: 54.3%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that its leadership serves on a volunteer basis, which is highly commendable for a nonprofit of its growing size.
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 Haitian American Chamber Of Commerce Inc's IRS 990 filings:
- Significant increase in liabilities in 2022 ($86,429) compared to previous years, warranting monitoring.
- Lack of detailed expense breakdown in provided data, making it difficult to precisely assess program efficiency.
Strengths
The following positive indicators were identified for Haitian American Chamber Of Commerce Inc:
- Exceptional revenue growth, from $42,509 in 2015 to $943,688 in 2022, indicating expanding reach and impact.
- Consistent 0% officer compensation across all filings, demonstrating strong commitment to volunteer leadership and directing funds to mission.
- Positive net income in most recent periods (e.g., $35,688 in 2022), indicating sound financial management.
- Assets consistently exceeding liabilities in recent years, suggesting a generally stable financial position.
Frequently Asked Questions about Haitian American Chamber Of Commerce Inc
Is Haitian American Chamber Of Commerce Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Haitian American Chamber Of Commerce Inc (EIN: 202373322) some concerns. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
How does Haitian American Chamber Of Commerce Inc spend its money?
Haitian American Chamber Of Commerce Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Haitian American Chamber Of Commerce Inc tax-deductible?
Haitian American Chamber Of Commerce Inc is registered as a tax-exempt nonprofit (EIN: 202373322). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does the organization manage its increasing liabilities, which reached $86,429 in 2022?
While the organization's assets ($159,128 in 2022) still exceed its liabilities, the significant increase in liabilities from previous years warrants attention to ensure sustainable financial health.
What are the specific programs and activities that account for the substantial increase in expenses from $154,668 in 2020 to $908,000 in 2022?
The dramatic rise in expenses suggests a significant expansion of operations or new initiatives, and understanding these would clarify the impact of the increased spending.
What is the organization's strategy for maintaining its volunteer leadership model as its revenue and operational scale continue to grow?
The consistent 0% officer compensation is a strength, and understanding how this is sustained amidst growth is important for long-term planning and donor confidence.
Filing History
IRS 990 filing history for Haitian American Chamber Of Commerce Inc showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2012–2022), Haitian American Chamber Of Commerce Inc's revenue has grown by 631.2%, moving from $129K to $944K. Total assets increased by 4857.3% over the same period, from $3K to $159K. Total functional expenses rose by 600.4%, from $130K to $908K. In its most recent filing year (2022), Haitian American Chamber Of Commerce Inc reported a surplus of $36K, with revenue exceeding expenses. The organization holds $86K in liabilities against $159K in assets (debt-to-asset ratio: 54.3%), resulting in net assets of $73K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $944K | $908K | $159K | $86K | — | View 990 |
| 2021 | $214K | $209K | $118K | $81K | — | View 990 |
| 2020 | $193K | $155K | $114K | $81K | — | View 990 |
| 2019 | $102K | $120K | $51K | $55K | — | View 990 |
| 2018 | $141K | $119K | $21K | $0 | — | View 990 |
| 2017 | $204K | $204K | $9K | $5K | — | View 990 |
| 2016 | $72K | $68K | $4K | $0 | — | View 990 |
| 2015 | $43K | $48K | $254 | $0 | — | View 990 |
| 2014 | $45K | $43K | $5K | $0 | — | View 990 |
| 2013 | $51K | $50K | $4K | $0 | — | View 990 |
| 2012 | $129K | $130K | $3K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $944K, expenses of $908K, and assets of $159K (revenue +341.8% year-over-year).
- 2021: Revenue of $214K, expenses of $209K, and assets of $118K (revenue +10.5% year-over-year).
- 2020: Revenue of $193K, expenses of $155K, and assets of $114K (revenue +89.4% year-over-year).
- 2019: Revenue of $102K, expenses of $120K, and assets of $51K (revenue -27.5% year-over-year).
- 2018: Revenue of $141K, expenses of $119K, and assets of $21K (revenue -31.0% year-over-year).
- 2017: Revenue of $204K, expenses of $204K, and assets of $9K (revenue +184.6% year-over-year).
- 2016: Revenue of $72K, expenses of $68K, and assets of $4K (revenue +68.7% year-over-year).
- 2015: Revenue of $43K, expenses of $48K, and assets of $254 (revenue -6.4% year-over-year).
- 2014: Revenue of $45K, expenses of $43K, and assets of $5K (revenue -10.4% year-over-year).
- 2013: Revenue of $51K, expenses of $50K, and assets of $4K (revenue -60.7% year-over-year).
- 2012: Revenue of $129K, expenses of $130K, and assets of $3K.
Data Sources and Methodology
This transparency report for Haitian American Chamber Of Commerce Inc 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.