West Michigan Hispanic Chamber Of Commerce Inc
West Michigan Hispanic Chamber Of Commerce Inc shows strong growth but recent expenses outpaced revenue.
EIN: 201483629 · Grand Rapids, MI · NTEE: S41 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $3.5M |
| Total Expenses | $1.4M |
| Program Spending | 80% |
| Net Assets | $454K |
| Transparency Score | 85/100 |
Is West Michigan Hispanic Chamber Of Commerce Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
West Michigan Hispanic Chamber Of Commerce Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About West Michigan Hispanic Chamber Of Commerce Inc
West Michigan Hispanic Chamber Of Commerce Inc (EIN: 201483629) is a nonprofit organization based in Grand Rapids, MI, classified under NTEE code S41. The organization reported total revenue of $3.5M and total assets of $3.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of West Michigan Hispanic Chamber Of Commerce Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
West Michigan Hispanic Chamber Of Commerce Inc is a mid-size nonprofit that has been operating for 22 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 20.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.1M |
| Total Expenses | $1.4M |
| Surplus / Deficit | $-328,712 |
| Total Assets | $765K |
| Total Liabilities | $311K |
| Net Assets | $454K |
| Operating Margin | -30.6% |
| Debt-to-Asset Ratio | 40.6% |
| Months of Reserves | 6.5 months |
Financial Health Grade: B
In 2023, West Michigan Hispanic Chamber Of Commerce Inc reported a deficit of $329K with expenses exceeding revenue, holds 6.5 months of operating reserves (strong position), has a debt-to-asset ratio of 40.6% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), West Michigan Hispanic Chamber Of Commerce Inc's revenue has grown at a compound annual growth rate (CAGR) of 20.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +12.7% | +53.4% | -34.6% |
| 2022 | +9.7% | +28.4% | +23.3% |
| 2021 | -12.3% | +10.3% | +24.4% |
| 2020 | +205.0% | +200.1% | +214.3% |
| 2019 | +12.1% | -1.4% | +82.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 2004 |
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 West Michigan Hispanic Chamber Of Commerce Inc 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, West Michigan Hispanic Chamber Of Commerce Inc 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 deficit of $329K, with expenses exceeding revenue.
- Debt-to-asset ratio: 40.6%.
Executive Compensation Analysis
Executive compensation is consistently 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 suggests strong resource allocation towards its mission.
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 West Michigan Hispanic Chamber Of Commerce Inc's IRS 990 filings:
- Expenses exceeded revenue in the latest filing (202312) by $328,712.
- Increase in liabilities from $0 in earlier years to $310,520 in 2023, requiring further scrutiny.
Strengths
The following positive indicators were identified for West Michigan Hispanic Chamber Of Commerce Inc:
- Significant and consistent revenue growth over the past decade, from $130,379 in 2014 to $1,074,768 in 2023.
- Strong asset growth, from $49,868 in 2014 to $764,799 in 2023.
- Consistent reporting of 0% officer compensation across all filings, indicating efficient use of funds.
- Positive net assets in most years, demonstrating financial stability.
Frequently Asked Questions about West Michigan Hispanic Chamber Of Commerce Inc
Is West Michigan Hispanic Chamber Of Commerce Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, West Michigan Hispanic Chamber Of Commerce Inc (EIN: 201483629) some concerns. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
How does West Michigan Hispanic Chamber Of Commerce Inc spend its money?
West Michigan Hispanic Chamber Of Commerce Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to West Michigan Hispanic Chamber Of Commerce Inc tax-deductible?
West Michigan Hispanic Chamber Of Commerce Inc is registered as a tax-exempt nonprofit (EIN: 201483629). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of West Michigan Hispanic Chamber Of Commerce Inc's spending goes to programs?
West Michigan Hispanic Chamber Of Commerce Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does West Michigan Hispanic Chamber Of Commerce Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), West Michigan Hispanic Chamber Of Commerce Inc 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 West Michigan Hispanic Chamber Of Commerce Inc located?
West Michigan Hispanic Chamber Of Commerce Inc is headquartered in Grand Rapids, Michigan and files with the IRS under EIN 201483629. It is classified under NTEE code S41.
How many years of IRS 990 filings does West Michigan Hispanic Chamber Of Commerce Inc have?
West Michigan Hispanic Chamber Of Commerce Inc 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 $3.5M in total revenue.
Is West Michigan Hispanic Chamber Of Commerce Inc a good charity?
Based on the available data, the organization demonstrates strong financial growth, a clear commitment to its mission with 0% officer compensation, and a generally positive financial trajectory. The recent deficit in 2023 warrants further investigation, but overall indicators are positive.
Why did expenses exceed revenue in 2023?
In the 202312 period, expenses were $1,403,480 while revenue was $1,074,768, resulting in a deficit of $328,712. The specific reasons for this are not detailed in the provided summary, but it could be due to strategic investments, one-time expenditures, or a temporary dip in funding.
How has the organization's financial health changed over time?
The organization has experienced significant financial growth, with revenue increasing from $130,379 in 2014 to over $1 million in recent years, and assets growing from $49,868 to $764,799. This indicates a strong upward trend in its capacity and reach.
What is the significance of 0% officer compensation?
0% officer compensation is a significant positive indicator, suggesting that the organization's leadership is either volunteer-based or compensated through other means not classified as officer compensation, allowing more funds to be directed towards program services.
Filing History
IRS 990 filing history for West Michigan Hispanic Chamber Of Commerce Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), West Michigan Hispanic Chamber Of Commerce Inc's revenue has grown by 839.8%, moving from $114K to $1.1M. Total assets increased by 4132.4% over the same period, from $18K to $765K. Total functional expenses rose by 1074.7%, from $119K to $1.4M. In its most recent filing year (2023), West Michigan Hispanic Chamber Of Commerce Inc reported a deficit of $329K, with expenses exceeding revenue. The organization holds $311K in liabilities against $765K in assets (debt-to-asset ratio: 40.6%), resulting in net assets of $454K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.1M | $1.4M | $765K | $311K | — | — |
| 2022 | $953K | $915K | $1.2M | $387K | — | View 990 |
| 2021 | $869K | $712K | $949K | $205K | — | View 990 |
| 2020 | $991K | $646K | $763K | $176K | — | View 990 |
| 2019 | $325K | $215K | $243K | $0 | — | View 990 |
| 2018 | $290K | $218K | $133K | $0 | — | View 990 |
| 2017 | $201K | $211K | $62K | $0 | — | View 990 |
| 2016 | $213K | $211K | $72K | $0 | — | View 990 |
| 2015 | $152K | $133K | $69K | $0 | — | View 990 |
| 2014 | $130K | $125K | $50K | $0 | — | View 990 |
| 2013 | $161K | $126K | $45K | $0 | — | View 990 |
| 2012 | $133K | $128K | $34K | $25K | — | View 990 |
| 2011 | $114K | $119K | $18K | $15K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.1M, expenses of $1.4M, and assets of $765K (revenue +12.7% year-over-year).
- 2022: Revenue of $953K, expenses of $915K, and assets of $1.2M (revenue +9.7% year-over-year).
- 2021: Revenue of $869K, expenses of $712K, and assets of $949K (revenue -12.3% year-over-year).
- 2020: Revenue of $991K, expenses of $646K, and assets of $763K (revenue +205.0% year-over-year).
- 2019: Revenue of $325K, expenses of $215K, and assets of $243K (revenue +12.1% year-over-year).
- 2018: Revenue of $290K, expenses of $218K, and assets of $133K (revenue +44.1% year-over-year).
- 2017: Revenue of $201K, expenses of $211K, and assets of $62K (revenue -5.8% year-over-year).
- 2016: Revenue of $213K, expenses of $211K, and assets of $72K (revenue +40.2% year-over-year).
- 2015: Revenue of $152K, expenses of $133K, and assets of $69K (revenue +16.7% year-over-year).
- 2014: Revenue of $130K, expenses of $125K, and assets of $50K (revenue -19.2% year-over-year).
- 2013: Revenue of $161K, expenses of $126K, and assets of $45K (revenue +21.2% year-over-year).
- 2012: Revenue of $133K, expenses of $128K, and assets of $34K (revenue +16.4% year-over-year).
- 2011: Revenue of $114K, expenses of $119K, and assets of $18K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for West Michigan Hispanic Chamber Of Commerce Inc:
Data Sources and Methodology
This transparency report for West Michigan Hispanic Chamber Of Commerce Inc 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.