GALVESTON CHAMBER PARTNERSHIP INC
Mission Statement
The purpose or purposes for which the corporation is organized are: 1. To operate exclusively for charitable, educational and scientific purposes, including the solicitation and distribution of funds or other property for such purposes to organizations that qualify as exempt organization sunder Section 501 (c) (3) of the Internal Revenue Code (or the corresponding provision of any future United States Internal Revenue law); 2. To advance and diffuse knowledge and understanding of matters of public concern, finance, education and training, housing , human relations, problems of minority groups, science and technology, economic planning and development, and other subjects related to improved development, efficiency and acceleration of both the quality and quantity of economic growth and development through the undertaking of public activities and promotions, studies and research, and to conduct training courses, seminars, forums and lectures, and any other activity tending to promote understanding, unification or improved relationships between different economic or ethnic groups; 3. To advance the welfare of the general public by lessening the burdens of government through research of market data, assisting local governmental leaders and community development programs, operating briefing centers designed to educate citizens and prospective residents, implementing beautification and improvement studies with governmental officials, assisting in environmental improvement programs recognizing the need for a healthy balance between jobs and the environment, increasing citizens’ understanding of labor, management and community problems, identifying and assisting in minority business development, and providing current public information for such purposes; 4. To solicit and disburse funds to be used to support all of the above purposes; 5. To engage in any other activity permitted of a corporation organized exclusively for charitable, educational and scientific purposes, provided such activity is not forbidden by the Texas Non-Profit Corporation Act or by any other laws and such activity doe jeopardize the tax exempt status of this corporation under Section 501 (c) (3) of the Internal Revenue Code (or the corresponding provision of any future United States Internal Revenue law).
Financial Overview — FY 2024
Compared with Peers
FY 2024| Ratio | This org | Peer median | Position (P10 → P90) | |
|---|---|---|---|---|
|
Program expense ratio
Program expenses / total expenses
· higher is better
|
100.0% | 83.7% |
P10P90
|
Top quarter |
|
Admin expense ratio
Management and general / total expenses
· lower is better
|
0.0% | 13.2% |
P10P90
|
Top quarter |
|
Fundraising expense ratio
Fundraising expenses / total expenses
· lower is better
|
0.0% | 0.0% |
P10P90
|
Top quarter |
|
Operating reserve
Months of expenses covered by net assets
· higher is better
|
1.2 mo | 11.3 mo |
P10P90
|
Bottom quarter |
|
Liabilities to assets
Total liabilities / total assets
· lower is better
|
71.8% | 3.1% |
P10P90
|
Bottom quarter |
|
Revenue concentration
Share of revenue from the largest source
· lower is better
|
100.0% | 92.2% |
P10P90
|
Bottom quarter |
|
Revenue growth
Year over year revenue growth
|
-13.6% | 7.1% |
P10P90
|
|
|
Expense growth
Year over year expense growth
|
-19.8% | 9.1% |
P10P90
|
|
|
Surplus margin
Surplus as a share of revenue
|
-7.4% | 2.9% |
P10P90
|
Financial History
| Year | Revenue | Expenses | Net Assets | Program % | Staff |
|---|---|---|---|---|---|
| 2024 | $159K | $171K | $18K | 100.0% | 0 |
| 2023 | $184K | $213K | $29K | 100.0% | 0 |
| 2022 | $197K | $157K | $58K | 100.0% | 0 |
| 2021 | $241K | $97K | N/A | — | 0 |
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