South Lake Union Chamber Ofcommerce
South Lake Union Chamber Ofcommerce shows fluctuating financial health with recent surplus after 2022 deficit.
EIN: 205634309 · Seattle, WA · NTEE: S43 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $173K |
| Total Expenses | $276K |
| Program Spending | 75% |
| CEO/Top Officer Pay | $300,000 |
| Net Assets | $226K |
| Transparency Score | 65/100 |
Is South Lake Union Chamber Ofcommerce Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
South Lake Union Chamber Ofcommerce directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About South Lake Union Chamber Ofcommerce
South Lake Union Chamber Ofcommerce (EIN: 205634309) is a nonprofit organization based in Seattle, WA, classified under NTEE code S43. The organization reported total revenue of $173K and total assets of $191K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of South Lake Union Chamber Ofcommerce's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
South Lake Union Chamber Ofcommerce is a small nonprofit that has been operating for 17 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 9.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $333K |
| Total Expenses | $276K |
| Surplus / Deficit | +$57K |
| Total Assets | $233K |
| Total Liabilities | $7K |
| Net Assets | $226K |
| Operating Margin | 17.2% |
| Debt-to-Asset Ratio | 3.0% |
| Months of Reserves | 10.2 months |
Financial Health Grade: A
In 2023, South Lake Union Chamber Ofcommerce reported a surplus of $57K with revenue exceeding expenses, holds 10.2 months of operating reserves (strong position), has a debt-to-asset ratio of 3.0% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), South Lake Union Chamber Ofcommerce's revenue has grown at a compound annual growth rate (CAGR) of 9.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -49.4% | -60.3% | +35.5% |
| 2022 | +160.5% | +334.6% | -17.9% |
| 2021 | +13.9% | -35.9% | +49.8% |
| 2020 | -21.8% | +18.8% | -2.6% |
| 2019 | +66.5% | +47.0% | +160.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 2009 |
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 South Lake Union Chamber Ofcommerce with a Mission Score of 65 out of 100 (Good). 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: 75%
- fundraising: 10%
According to IRS 990 filings, South Lake Union Chamber Ofcommerce allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% 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 $57K, with revenue exceeding expenses.
- Debt-to-asset ratio: 3.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, suggesting that executive leadership may be entirely volunteer-based or compensated through non-officer roles, which is unusual for an organization with revenues exceeding $300,000 in recent years.
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 South Lake Union Chamber Ofcommerce's IRS 990 filings:
- Significant year-over-year financial volatility, including a substantial deficit in 2022 ($694,227 expenses vs. $656,855 revenue).
- Consistent 0% reported officer compensation, which may obscure actual leadership costs if compensation is reported elsewhere or if the organization relies solely on unpaid leadership for an organization of its size.
- Lack of detailed expense breakdown in provided data makes it difficult to fully assess spending efficiency.
Strengths
The following positive indicators were identified for South Lake Union Chamber Ofcommerce:
- Positive net assets growth, reaching $233,419 in 2023, indicating increasing financial reserves.
- Demonstrated ability to recover from deficits, as seen by the surplus in 2023 after the 2022 deficit.
- Low liabilities relative to assets, with liabilities at $7,074 in 2023 against assets of $233,419, suggesting good financial solvency.
Frequently Asked Questions about South Lake Union Chamber Ofcommerce
Is South Lake Union Chamber Ofcommerce a legitimate charity?
South Lake Union Chamber Ofcommerce (EIN: 205634309) is a registered tax-exempt nonprofit based in Washington. Our AI analysis gives it a Mission Score of 65/100. It has 13 years of IRS 990 filings on record. Total revenue: $173K. 3 red flags identified. 3 strengths noted. Financial health grade: A.
How does South Lake Union Chamber Ofcommerce spend its money?
South Lake Union Chamber Ofcommerce directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to South Lake Union Chamber Ofcommerce tax-deductible?
South Lake Union Chamber Ofcommerce is registered as a tax-exempt nonprofit (EIN: 205634309). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the South Lake Union Chamber Ofcommerce CEO make?
South Lake Union Chamber Ofcommerce's highest-compensated officer earns $300,000 annually. The organization reported $173K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of South Lake Union Chamber Ofcommerce's spending goes to programs?
South Lake Union Chamber Ofcommerce directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does South Lake Union Chamber Ofcommerce compare to similar nonprofits?
With a transparency score of 65/100 (Good), South Lake Union Chamber Ofcommerce is above average for NTEE category S43 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is South Lake Union Chamber Ofcommerce located?
South Lake Union Chamber Ofcommerce is headquartered in Seattle, Washington and files with the IRS under EIN 205634309. It is classified under NTEE code S43.
How many years of IRS 990 filings does South Lake Union Chamber Ofcommerce have?
South Lake Union Chamber Ofcommerce has 13 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 $173K in total revenue.
What caused the significant revenue and expense fluctuations, particularly the large deficit in 2022?
The IRS 990 data shows a substantial increase in both revenue and expenses in 2022, with expenses exceeding revenue by nearly $37,000. Understanding the specific programs or events that led to this spike and subsequent deficit would provide clarity on financial management.
How does the organization sustain operations with 0% reported officer compensation?
The consistent reporting of zero officer compensation across all filings raises questions about how the organization's leadership is compensated or if key roles are entirely volunteer-driven, which is uncommon for an organization of this size and revenue.
What are the specific program activities and their associated costs?
Without a detailed breakdown of expenses beyond the overall totals, it's difficult to assess the efficiency and impact of the organization's programs, which are central to its mission as a Chamber of Commerce.
Filing History
IRS 990 filing history for South Lake Union Chamber Ofcommerce showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), South Lake Union Chamber Ofcommerce's revenue has grown by 198.9%, moving from $111K to $333K. Total assets increased by 673% over the same period, from $30K to $233K. Total functional expenses rose by 193.4%, from $94K to $276K. In its most recent filing year (2023), South Lake Union Chamber Ofcommerce reported a surplus of $57K, with revenue exceeding expenses. The organization holds $7K in liabilities against $233K in assets (debt-to-asset ratio: 3.0%), resulting in net assets of $226K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $333K | $276K | $233K | $7K | — | — |
| 2022 | $657K | $694K | $172K | $3K | — | View 990 |
| 2021 | $252K | $160K | $210K | $3K | — | View 990 |
| 2020 | $221K | $249K | $140K | $43K | — | — |
| 2019 | $283K | $210K | $144K | $19K | — | — |
| 2018 | $170K | $143K | $55K | $3K | — | View 990 |
| 2017 | $127K | $120K | $29K | $4K | — | View 990 |
| 2016 | $118K | $122K | $21K | $3K | — | View 990 |
| 2015 | $120K | $108K | $24K | $3K | — | View 990 |
| 2014 | $92K | $97K | $8K | $2K | — | View 990 |
| 2013 | $98K | $100K | $11K | $0 | — | View 990 |
| 2012 | $87K | $103K | $13K | $0 | — | View 990 |
| 2011 | $111K | $94K | $30K | $1K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $333K, expenses of $276K, and assets of $233K (revenue -49.4% year-over-year).
- 2022: Revenue of $657K, expenses of $694K, and assets of $172K (revenue +160.5% year-over-year).
- 2021: Revenue of $252K, expenses of $160K, and assets of $210K (revenue +13.9% year-over-year).
- 2020: Revenue of $221K, expenses of $249K, and assets of $140K (revenue -21.8% year-over-year).
- 2019: Revenue of $283K, expenses of $210K, and assets of $144K (revenue +66.5% year-over-year).
- 2018: Revenue of $170K, expenses of $143K, and assets of $55K (revenue +33.9% year-over-year).
- 2017: Revenue of $127K, expenses of $120K, and assets of $29K (revenue +7.3% year-over-year).
- 2016: Revenue of $118K, expenses of $122K, and assets of $21K (revenue -1.7% year-over-year).
- 2015: Revenue of $120K, expenses of $108K, and assets of $24K (revenue +31.5% year-over-year).
- 2014: Revenue of $92K, expenses of $97K, and assets of $8K (revenue -6.6% year-over-year).
- 2013: Revenue of $98K, expenses of $100K, and assets of $11K (revenue +12.8% year-over-year).
- 2012: Revenue of $87K, expenses of $103K, and assets of $13K (revenue -21.9% year-over-year).
- 2011: Revenue of $111K, expenses of $94K, and assets of $30K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for South Lake Union Chamber Ofcommerce:
Data Sources and Methodology
This transparency report for South Lake Union Chamber Ofcommerce 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.