Madison Black Chamber Of Commerce
Madison Black Chamber Of Commerce experiences rapid revenue growth and maintains 0% officer compensation.
EIN: 202877968 · Madison, WI · NTEE: S41 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.1M |
| Total Expenses | $1.2M |
| Program Spending | 80% |
| Net Assets | $726K |
| Transparency Score | 85/100 |
Is Madison Black Chamber Of Commerce Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Madison Black Chamber Of Commerce directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Madison Black Chamber Of Commerce
Madison Black Chamber Of Commerce (EIN: 202877968) is a nonprofit organization based in Madison, WI, classified under NTEE code S41. The organization reported total revenue of $1.1M and total assets of $1.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Madison Black Chamber Of Commerce's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Madison Black Chamber Of Commerce is a mid-size nonprofit that has been operating for 7 years, with 8 years of IRS 990 filings on record (2016–2023). Revenue has grown at a compound annual rate of 65.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.6M |
| Total Expenses | $1.2M |
| Surplus / Deficit | +$442K |
| Total Assets | $1.3M |
| Total Liabilities | $598K |
| Net Assets | $726K |
| Operating Margin | 27.6% |
| Debt-to-Asset Ratio | 45.2% |
| Months of Reserves | 13.7 months |
Financial Health Grade: A
In 2023, Madison Black Chamber Of Commerce reported a surplus of $442K with revenue exceeding expenses, holds 13.7 months of operating reserves (strong position), has a debt-to-asset ratio of 45.2% (moderate leverage).
Financial Trends
Over 8 years of filings (2016–2023), Madison Black Chamber Of Commerce's revenue has grown at a compound annual growth rate (CAGR) of 65.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +421.0% | +366.6% | +342.8% |
| 2022 | +3.7% | +62.5% | +39.5% |
| 2021 | +95.0% | +30.2% | +253.4% |
| 2020 | +67.6% | +28.2% | +0.7% |
| 2019 | -3.0% | +2.3% | +52.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 2019 |
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 Madison Black Chamber Of Commerce 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, Madison Black Chamber Of Commerce 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 (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $442K, with revenue exceeding expenses.
- Debt-to-asset ratio: 45.2%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no compensation was paid to officers, which is highly favorable for a nonprofit of its size and growth.
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 Madison Black Chamber Of Commerce's IRS 990 filings:
- Significant increase in liabilities from $35,243 in 2022 to $597,902 in 2023, warranting further investigation.
Strengths
The following positive indicators were identified for Madison Black Chamber Of Commerce:
- Exceptional revenue growth from $47,880 in 2016 to $1,597,496 in 2023, indicating strong support and expanding operations.
- Consistent 0% officer compensation across all filings, demonstrating a commitment to directing funds to mission.
- Healthy asset growth, from $28,912 in 2016 to $1,324,095 in 2023, reflecting financial stability and capacity.
- Positive net assets in all reported periods, indicating financial solvency.
Frequently Asked Questions about Madison Black Chamber Of Commerce
Is Madison Black Chamber Of Commerce a legitimate charity?
Madison Black Chamber Of Commerce (EIN: 202877968) is a registered tax-exempt nonprofit based in Wisconsin. Our AI analysis gives it a Mission Score of 85/100. It has 8 years of IRS 990 filings on record. Total revenue: $1.1M. 1 red flag identified. 4 strengths noted. Financial health grade: A.
How does Madison Black Chamber Of Commerce spend its money?
Madison Black Chamber Of Commerce directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Madison Black Chamber Of Commerce tax-deductible?
Madison Black Chamber Of Commerce is registered as a tax-exempt nonprofit (EIN: 202877968). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Madison Black Chamber Of Commerce's spending goes to programs?
Madison Black Chamber Of Commerce directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Madison Black Chamber Of Commerce compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Madison Black Chamber Of Commerce 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 Madison Black Chamber Of Commerce located?
Madison Black Chamber Of Commerce is headquartered in Madison, Wisconsin and files with the IRS under EIN 202877968. It is classified under NTEE code S41.
How many years of IRS 990 filings does Madison Black Chamber Of Commerce have?
Madison Black Chamber Of Commerce has 8 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 $1.1M in total revenue.
Is Madison Black Chamber Of Commerce a good charity?
Based on the available data, the Madison Black Chamber Of Commerce shows strong financial growth and a commendable commitment to not paying officer compensation. Its rapid expansion suggests increasing impact. However, a full assessment of 'goodness' would benefit from a detailed breakdown of program spending versus administrative and fundraising costs, which is not provided in this summary.
What caused the significant increase in liabilities from 2022 to 2023?
The liabilities increased from $35,243 in 2022 to $597,902 in 2023. This substantial jump, while accompanied by asset growth, requires further examination of the organization's 990 filing for 2023 to understand the specific nature of these liabilities (e.g., program-related debt, grants payable, or other obligations).
How does the organization manage its rapid revenue growth?
The organization has experienced significant revenue growth, from $47,880 in 2016 to $1,597,496 in 2023. This growth suggests successful fundraising and program expansion. The corresponding increase in assets from $28,912 to $1,324,095 indicates effective asset management alongside this growth.
Filing History
IRS 990 filing history for Madison Black Chamber Of Commerce showing financial trends over 8 years of public records:
Over 8 years of IRS 990 filings (2016–2023), Madison Black Chamber Of Commerce's revenue has grown by 3236.5%, moving from $48K to $1.6M. Total assets increased by 4479.7% over the same period, from $29K to $1.3M. Total functional expenses rose by 2708.1%, from $41K to $1.2M. In its most recent filing year (2023), Madison Black Chamber Of Commerce reported a surplus of $442K, with revenue exceeding expenses. The organization holds $598K in liabilities against $1.3M in assets (debt-to-asset ratio: 45.2%), resulting in net assets of $726K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.6M | $1.2M | $1.3M | $598K | — | — |
| 2022 | $307K | $248K | $299K | $35K | — | View 990 |
| 2021 | $296K | $152K | $214K | $11K | — | View 990 |
| 2020 | $152K | $117K | $61K | $0 | — | — |
| 2019 | $90K | $91K | $60K | $34K | — | View 990 |
| 2018 | $93K | $89K | $39K | $13K | — | View 990 |
| 2017 | $74K | $66K | $63K | $40K | — | View 990 |
| 2016 | $48K | $41K | $29K | $13K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.6M, expenses of $1.2M, and assets of $1.3M (revenue +421.0% year-over-year).
- 2022: Revenue of $307K, expenses of $248K, and assets of $299K (revenue +3.7% year-over-year).
- 2021: Revenue of $296K, expenses of $152K, and assets of $214K (revenue +95.0% year-over-year).
- 2020: Revenue of $152K, expenses of $117K, and assets of $61K (revenue +67.6% year-over-year).
- 2019: Revenue of $90K, expenses of $91K, and assets of $60K (revenue -3.0% year-over-year).
- 2018: Revenue of $93K, expenses of $89K, and assets of $39K (revenue +26.7% year-over-year).
- 2017: Revenue of $74K, expenses of $66K, and assets of $63K (revenue +53.7% year-over-year).
- 2016: Revenue of $48K, expenses of $41K, and assets of $29K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Madison Black Chamber Of Commerce:
Data Sources and Methodology
This transparency report for Madison Black 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.