Wake Forest Area Chamber Of Commerce
EIN: 561122169 · Wake Forest, NC
Is Wake Forest Area 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 Wake Forest Area Chamber Of Commerce
Wake Forest Area Chamber Of Commerce (EIN: 561122169) is a nonprofit organization based in Wake Forest, NC. The organization reported total revenue of $590K and total assets of $802K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Wake Forest Area Chamber Of Commerce's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Analysis Pending
AI enrichment for Wake Forest Area 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 Wake Forest Area 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.
Frequently Asked Questions about Wake Forest Area Chamber Of Commerce
Is Wake Forest Area Chamber Of Commerce a legitimate charity?
Based on AI analysis of IRS 990 filings, Wake Forest Area Chamber Of Commerce (EIN: 561122169) insufficient data. 0 red flags identified, 0 strengths noted.
How does Wake Forest Area Chamber Of Commerce spend its money?
Detailed spending breakdown data is not yet available for Wake Forest Area Chamber Of Commerce. Check back for updated IRS 990 analysis.
Are donations to Wake Forest Area Chamber Of Commerce tax-deductible?
Wake Forest Area Chamber Of Commerce is registered as a tax-exempt nonprofit (EIN: 561122169). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Filing History
IRS 990 filing history for Wake Forest Area Chamber Of Commerce showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Wake Forest Area Chamber Of Commerce's revenue has grown by 60.5%, moving from $322K to $517K. Total assets increased by 52.1% over the same period, from $422K to $641K. Total functional expenses rose by 43.8%, from $315K to $453K. In its most recent filing year (2023), Wake Forest Area Chamber Of Commerce reported a surplus of $64K, with revenue exceeding expenses. The organization holds $12K in liabilities against $641K in assets (debt-to-asset ratio: 1.9%), resulting in net assets of $629K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $517K | $453K | $641K | $12K | — | View 990 |
| 2022 | $515K | $440K | $566K | $391 | — | View 990 |
| 2021 | $495K | $412K | $495K | $7K | — | — |
| 2020 | $475K | $548K | $563K | $159K | — | View 990 |
| 2019 | $505K | $516K | $492K | $15K | — | View 990 |
| 2018 | $534K | $450K | $491K | $3K | — | View 990 |
| 2017 | $457K | $444K | $452K | $48K | — | View 990 |
| 2016 | $442K | $418K | $476K | $84K | — | View 990 |
| 2015 | $328K | $347K | $484K | $116K | — | View 990 |
| 2014 | $365K | $305K | $510K | $123K | — | View 990 |
| 2013 | $343K | $354K | $565K | $238K | — | View 990 |
| 2012 | $358K | $330K | $402K | $64K | — | View 990 |
| 2011 | $322K | $315K | $422K | $111K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $517K, expenses of $453K, and assets of $641K (revenue +0.5% year-over-year).
- 2022: Revenue of $515K, expenses of $440K, and assets of $566K (revenue +4.0% year-over-year).
- 2021: Revenue of $495K, expenses of $412K, and assets of $495K (revenue +4.1% year-over-year).
- 2020: Revenue of $475K, expenses of $548K, and assets of $563K (revenue -6.0% year-over-year).
- 2019: Revenue of $505K, expenses of $516K, and assets of $492K (revenue -5.4% year-over-year).
- 2018: Revenue of $534K, expenses of $450K, and assets of $491K (revenue +16.9% year-over-year).
- 2017: Revenue of $457K, expenses of $444K, and assets of $452K (revenue +3.4% year-over-year).
- 2016: Revenue of $442K, expenses of $418K, and assets of $476K (revenue +34.8% year-over-year).
- 2015: Revenue of $328K, expenses of $347K, and assets of $484K (revenue -10.3% year-over-year).
- 2014: Revenue of $365K, expenses of $305K, and assets of $510K (revenue +6.5% year-over-year).
- 2013: Revenue of $343K, expenses of $354K, and assets of $565K (revenue -4.1% year-over-year).
- 2012: Revenue of $358K, expenses of $330K, and assets of $402K (revenue +11.0% year-over-year).
- 2011: Revenue of $322K, expenses of $315K, and assets of $422K.
Data Sources and Methodology
This transparency report for Wake Forest Area 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.