Hoover Chamber Of Commerce
EIN: 590751597 · Hoover, AL
| Metric | Value |
|---|---|
| Total Revenue | $595K |
| Total Expenses | $528K |
| Net Assets | $166K |
Is Hoover Chamber Of Commerce Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Hoover Chamber Of Commerce
Hoover Chamber Of Commerce (EIN: 590751597) is a nonprofit organization based in Hoover, AL. The organization reported total revenue of $595K and total assets of $252K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hoover Chamber Of Commerce's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Hoover Chamber Of Commerce is a small nonprofit that has been operating for 48 years, with 12 years of IRS 990 filings on record (2011–2022). Revenue has grown at a compound annual rate of -1.3%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $406K |
| Total Expenses | $528K |
| Surplus / Deficit | $-121,923 |
| Total Assets | $332K |
| Total Liabilities | $166K |
| Net Assets | $166K |
| Operating Margin | -30.0% |
| Debt-to-Asset Ratio | 50.1% |
| Months of Reserves | 7.5 months |
Financial Health Grade: C
In 2022, Hoover Chamber Of Commerce reported a deficit of $122K with expenses exceeding revenue, holds 7.5 months of operating reserves (strong position), has a debt-to-asset ratio of 50.1% (high leverage).
Financial Trends
Over 12 years of filings (2011–2022), Hoover Chamber Of Commerce's revenue has declined at a compound annual growth rate (CAGR) of -1.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -13.3% | +8.6% | -24.8% |
| 2021 | +43.4% | +55.7% | -4.6% |
| 2020 | -20.3% | -24.9% | +53.8% |
| 2019 | -0.1% | -7.8% | +0.3% |
| 2018 | -14.9% | -5.3% | -11.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1978 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Hoover Chamber Of Commerce has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Hoover Chamber Of Commerce with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $122K, with expenses exceeding revenue.
- Debt-to-asset ratio: 50.1%.
Frequently Asked Questions about Hoover Chamber Of Commerce
Is Hoover Chamber Of Commerce a legitimate charity?
Hoover Chamber Of Commerce (EIN: 590751597) is a registered tax-exempt nonprofit based in Alabama. It has 12 years of IRS 990 filings on record. Total revenue: $595K. No red flags identified. Financial health grade: C.
How does Hoover Chamber Of Commerce spend its money?
Hoover Chamber Of Commerce reported $595K in total revenue in IRS 990 filings. 12 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Hoover Chamber Of Commerce tax-deductible?
Hoover Chamber Of Commerce is registered as a tax-exempt nonprofit (EIN: 590751597). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Hoover Chamber Of Commerce located?
Hoover Chamber Of Commerce is headquartered in Hoover, Alabama and files with the IRS under EIN 590751597.
How many years of IRS 990 filings does Hoover Chamber Of Commerce have?
Hoover Chamber Of Commerce has 12 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 $595K in total revenue.
Filing History
IRS 990 filing history for Hoover Chamber Of Commerce showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2011–2022), Hoover Chamber Of Commerce's revenue has declined by 12.9%, moving from $467K to $406K. Total assets increased by 8.5% over the same period, from $306K to $332K. Total functional expenses rose by 9.5%, from $483K to $528K. In its most recent filing year (2022), Hoover Chamber Of Commerce reported a deficit of $122K, with expenses exceeding revenue. The organization holds $166K in liabilities against $332K in assets (debt-to-asset ratio: 50.1%), resulting in net assets of $166K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $406K | $528K | $332K | $166K | — | View 990 |
| 2021 | $469K | $487K | $441K | $154K | — | View 990 |
| 2020 | $327K | $313K | $463K | $157K | — | View 990 |
| 2019 | $410K | $416K | $301K | $10K | — | — |
| 2018 | $411K | $451K | $300K | $3K | — | View 990 |
| 2017 | $483K | $477K | $340K | $2K | — | View 990 |
| 2016 | $474K | $466K | $332K | $101 | — | View 990 |
| 2015 | $550K | $496K | $325K | $0 | — | View 990 |
| 2014 | $473K | $433K | $271K | $0 | — | View 990 |
| 2013 | $455K | $446K | $231K | $0 | — | View 990 |
| 2012 | $460K | $486K | $222K | $0 | — | View 990 |
| 2011 | $467K | $483K | $306K | $59K | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $406K, expenses of $528K, and assets of $332K (revenue -13.3% year-over-year).
- 2021: Revenue of $469K, expenses of $487K, and assets of $441K (revenue +43.4% year-over-year).
- 2020: Revenue of $327K, expenses of $313K, and assets of $463K (revenue -20.3% year-over-year).
- 2019: Revenue of $410K, expenses of $416K, and assets of $301K (revenue -0.1% year-over-year).
- 2018: Revenue of $411K, expenses of $451K, and assets of $300K (revenue -14.9% year-over-year).
- 2017: Revenue of $483K, expenses of $477K, and assets of $340K (revenue +1.7% year-over-year).
- 2016: Revenue of $474K, expenses of $466K, and assets of $332K (revenue -13.8% year-over-year).
- 2015: Revenue of $550K, expenses of $496K, and assets of $325K (revenue +16.4% year-over-year).
- 2014: Revenue of $473K, expenses of $433K, and assets of $271K (revenue +4.0% year-over-year).
- 2013: Revenue of $455K, expenses of $446K, and assets of $231K (revenue -1.2% year-over-year).
- 2012: Revenue of $460K, expenses of $486K, and assets of $222K (revenue -1.4% year-over-year).
- 2011: Revenue of $467K, expenses of $483K, and assets of $306K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Hoover Chamber Of Commerce:
Data Sources and Methodology
This transparency report for Hoover Chamber Of Commerce 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.