The Madison Chamber Of Commerce
Madison Chamber Of Commerce: Stable Finances, Low Program Spending
EIN: 222536920 · Madison, CT · NTEE: S41Z · Updated: 2026-04-04
Is The Madison 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 →
The Madison Chamber Of Commerce directs 40% of its spending to programs. This falls below the 65% benchmark. Donors may want to investigate further.
About The Madison Chamber Of Commerce
The Madison Chamber Of Commerce (EIN: 222536920) is a nonprofit organization based in Madison, CT, classified under NTEE code S41Z. The organization reported total revenue of $158K and total assets of $198K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Madison Chamber Of Commerce's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
The Madison Chamber Of Commerce is a small nonprofit that has been operating for 42 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of -3.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $94K |
| Total Expenses | $81K |
| Surplus / Deficit | +$13K |
| Total Assets | $195K |
| Net Assets | $195K |
| Operating Margin | 13.8% |
| Months of Reserves | 28.9 months |
Financial Health Grade: A
In 2023, The Madison Chamber Of Commerce reported a surplus of $13K with revenue exceeding expenses, holds 28.9 months of operating reserves (strong position).
Financial Trends
Over 12 years of filings (2012–2023), The Madison Chamber Of Commerce's revenue has declined at a compound annual growth rate (CAGR) of -3.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -35.6% | -42.5% | +12.4% |
| 2022 | +4.9% | +3.6% | -12.1% |
| 2021 | +11.1% | +2.3% | +1.6% |
| 2020 | -16.8% | -4.9% | -6.2% |
| 2019 | +13.2% | +2.4% | +2.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1984 |
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 The Madison Chamber Of Commerce 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: 30%
- programs: 40%
- fundraising: 30%
According to IRS 990 filings, The Madison Chamber Of Commerce allocates its expenses as follows: admin: 30%, programs: 40%, fundraising: 30%. Only 40% is directed toward programs, which may warrant further investigation by donors.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $13K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is not reported, with all filings indicating $0 paid to officers, directors, trustees, and key employees, which is unusual for an organization of this size and activity.
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 The Madison Chamber Of Commerce's IRS 990 filings:
- Consistent reporting of $0 for officer, director, trustee, and key employee compensation across all years, which may indicate services are entirely pro-bono or compensation is miscategorized.
- Program service expenses are not separately detailed, making it difficult to assess the direct impact of funds.
- Spending breakdown (40% programs) is lower than ideal for a nonprofit, suggesting a significant portion of funds go to administrative and fundraising efforts.
Strengths
The following positive indicators were identified for The Madison Chamber Of Commerce:
- The organization consistently maintains a positive net income, with revenues generally exceeding expenses.
- Assets have remained stable, indicating sound financial management and reserves.
- The organization has a long history of operation, with consistent filings dating back to 2016.
Frequently Asked Questions about The Madison Chamber Of Commerce
Is The Madison Chamber Of Commerce a legitimate charity?
Based on AI analysis of IRS 990 filings, The Madison Chamber Of Commerce (EIN: 222536920) some concerns. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
How does The Madison Chamber Of Commerce spend its money?
The Madison Chamber Of Commerce directs 40% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to The Madison Chamber Of Commerce tax-deductible?
The Madison Chamber Of Commerce is registered as a tax-exempt nonprofit (EIN: 222536920). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What does The Madison Chamber Of Commerce do?
The Madison Chamber Of Commerce is a nonprofit organization in the Community Improvement sector, located in Madison, Connecticut. It is classified under NTEE code S41Z.
How much revenue does The Madison Chamber Of Commerce have?
The Madison Chamber Of Commerce reported total revenue of $157,841. Based on 12 IRS 990 filings on record.
What are The Madison Chamber Of Commerce's total assets?
The Madison Chamber Of Commerce holds total assets of $197,816 as reported in IRS 990 filings.
Where is The Madison Chamber Of Commerce located?
The Madison Chamber Of Commerce is based in Madison, Connecticut.
What is The Madison Chamber Of Commerce's EIN?
The Madison Chamber Of Commerce's Employer Identification Number (EIN) is 222536920. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is The Madison Chamber Of Commerce?
The Madison Chamber Of Commerce is classified under NTEE code S41Z (Community Improvement).
Is The Madison Chamber Of Commerce a registered 501(c)(3)?
Yes, The Madison Chamber Of Commerce is recognized as a tax-exempt organization by the IRS. EIN: 222536920.
Does The Madison Chamber Of Commerce file IRS Form 990?
Yes, The Madison Chamber Of Commerce has 12 IRS Form 990 filings on record. The most recent covers tax period 202306.
What was The Madison Chamber Of Commerce's revenue in 2023?
In the 202306 filing period, The Madison Chamber Of Commerce reported total revenue of $93,845, total expenses of $80,923, and net assets of $195,108.
Is The Madison Chamber Of Commerce's revenue growing or declining?
The Madison Chamber Of Commerce's revenue is declining. Revenue went from $145,611 (202206) to $93,845 (202306), a -35.6% change. Based on 12 filings on record.
What is The Madison Chamber Of Commerce's most recent 990 filing?
The most recent IRS Form 990 filing for The Madison Chamber Of Commerce covers tax period 202306. It shows revenue of $93,845, expenses of $80,923, total assets of $195,108, and liabilities of N/A.
How much does The Madison Chamber Of Commerce spend on programs vs administration?
Based on IRS 990 analysis, The Madison Chamber Of Commerce allocates approximately 40% of expenses to program services, 30% to administrative costs, and 30% to fundraising. Overhead costs appear high relative to program spending.
Is The Madison Chamber Of Commerce a trustworthy charity?
Based on AI analysis of IRS 990 data, The Madison Chamber Of Commerce shows mixed signals. Mission Score: 65/100 (Good). 3 red flags identified. 3 strengths noted.
What are the red flags for The Madison Chamber Of Commerce?
The following concerns were identified: Consistent reporting of $0 for officer, director, trustee, and key employee compensation across all years, which may indicate services are entirely pro-bono or compensation is miscategorized.. Program service expenses are not separately detailed, making it difficult to assess the direct impact of funds.. Spending breakdown (40% programs) is lower than ideal for a nonprofit, suggesting a significant portion of funds go to administrative and fundraising efforts.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are The Madison Chamber Of Commerce's strengths?
Positive indicators for The Madison Chamber Of Commerce include: The organization consistently maintains a positive net income, with revenues generally exceeding expenses.. Assets have remained stable, indicating sound financial management and reserves.. The organization has a long history of operation, with consistent filings dating back to 2016.. These findings are derived from AI analysis of the organization's financial filings.
How does The Madison Chamber Of Commerce compensate executives?
Executive compensation is not reported, with all filings indicating $0 paid to officers, directors, trustees, and key employees, which is unusual for an organization of this size and activity. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent reporting of $0 for executive compensation, how does the organization manage its operations and leadership without paid staff or leadership?
The filings do not provide details on how operational leadership is compensated or if it's entirely volunteer-driven. This lack of detail makes it difficult to understand the true cost of management and oversight.
What specific programs or initiatives does the Madison Chamber Of Commerce fund with its program service expenses?
The provided data does not break down program service expenses into specific initiatives. The 'x' value represents total expenses, but a detailed breakdown of program activities is not available in the provided financial summaries.
Filing History
IRS 990 filing history for The Madison Chamber Of Commerce showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), The Madison Chamber Of Commerce's revenue has declined by 28.9%, moving from $132K to $94K. Total assets increased by 46.6% over the same period, from $133K to $195K. Total functional expenses fell by 30.1%, from $116K to $81K. In its most recent filing year (2023), The Madison Chamber Of Commerce reported a surplus of $13K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $94K | $81K | $195K | $0 | — | View 990 |
| 2022 | $146K | $141K | $174K | $0 | — | View 990 |
| 2021 | $139K | $136K | $197K | $0 | — | View 990 |
| 2020 | $125K | $133K | $194K | $0 | — | View 990 |
| 2019 | $150K | $140K | $207K | $0 | — | View 990 |
| 2018 | $133K | $136K | $202K | $0 | — | View 990 |
| 2017 | $147K | $137K | $207K | $1K | — | View 990 |
| 2016 | $144K | $141K | $188K | $0 | — | View 990 |
| 2015 | $137K | $123K | $188K | $0 | — | View 990 |
| 2014 | $133K | $121K | $166K | $0 | — | View 990 |
| 2013 | $131K | $121K | $147K | $0 | — | View 990 |
| 2012 | $132K | $116K | $133K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $94K, expenses of $81K, and assets of $195K (revenue -35.6% year-over-year).
- 2022: Revenue of $146K, expenses of $141K, and assets of $174K (revenue +4.9% year-over-year).
- 2021: Revenue of $139K, expenses of $136K, and assets of $197K (revenue +11.1% year-over-year).
- 2020: Revenue of $125K, expenses of $133K, and assets of $194K (revenue -16.8% year-over-year).
- 2019: Revenue of $150K, expenses of $140K, and assets of $207K (revenue +13.2% year-over-year).
- 2018: Revenue of $133K, expenses of $136K, and assets of $202K (revenue -9.7% year-over-year).
- 2017: Revenue of $147K, expenses of $137K, and assets of $207K (revenue +1.7% year-over-year).
- 2016: Revenue of $144K, expenses of $141K, and assets of $188K (revenue +5.0% year-over-year).
- 2015: Revenue of $137K, expenses of $123K, and assets of $188K (revenue +3.5% year-over-year).
- 2014: Revenue of $133K, expenses of $121K, and assets of $166K (revenue +1.1% year-over-year).
- 2013: Revenue of $131K, expenses of $121K, and assets of $147K (revenue -0.5% year-over-year).
- 2012: Revenue of $132K, expenses of $116K, and assets of $133K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for The Madison Chamber Of Commerce:
Data Sources and Methodology
This transparency report for The Madison 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.