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PeerBasis
Compensation Comparability Determination

Richmond Chamber Of Commerce Inc

Executive Director / CEO

EIN 610397625
KY · NTEE S41Z
FY ending 2024-12-31
June 9, 2026

This analysis benchmarks the total compensation of Colleen Spencer, Executive Director / CEO ($75,281) against every comparable organization that fit the selection criteria — 472 in total — drawn systematically from IRS Form 990 filings, not a hand-picked subset.

Compensation sits at approximately the 65th percentile of comparable organizationswithin the typical range

Benchmarked executive: Colleen Spencer — reported title “PRESIDENT &”, a direct title match to the Executive Director / CEO role.

How comparable organizations were selected

472 organizations qualified on sector, size, and geography 472 within the band form the benchmarked peer set.

Distribution of comparable compensation

$1 total compensation of comparable organizations → $395,262 $75,281
$14,01010th
$38,74625th
$63,025Median
$87,32375th
$123,77690th
$75,281This org · 65th
p10$14,010
p25$38,746
p50$63,025
p75$87,323
p90$123,776
$75,281

Comparable organizations

Each figure is Form 990 Part VII columns D + F (reportable pay plus other compensation and benefits; column F may include amounts from related organizations), normalized to KY cost of living (BEA RPP, 2023) and to its filing year (CPI-U); the reported amount is on each linked 990.

OrganizationStateRevenueMatched titleComp
(reported)
Comp
(adjusted)
FY
Society Of Industrial And Office FL$242,179 Executive Director $33,500 $29,292 2024
Asc Inc TX$241,661 Ceo $103,437 $96,307 2024
Brunswick Area Respite Program ME$242,691 Executive Di $93,109 $86,780 2024
Helping Our Music Evolve Inc TN$242,784 Founder $13,690 $13,394 2024
National Hemp Association Inc DC$242,896 Executive Director $72,000 $58,809 2024
Federal It Security Institute VA$243,057 Executive Director And Ceo $30,000 $26,961 2024
Flaming Gorge Area Chamber Of Comme UT$243,148 Director $46,369 $45,478 2023
Asian American Chamber VA$243,269 President $75,000 $67,403 2024
Upper Perkiomen Valley Chamber Of PA$243,363 Executive Di $44,624 $41,420 2024
Medquarter Inc IA$243,371 President $13,872 $14,138 2024
Lake Forest Chamber Of Commerce Inc CA$240,795 Ceo $62,385 $50,141 2024
Onemine Inc CO$240,687 Executive Director $42,773 $38,175 2024
Asian Pacific American Chamber MI$243,820 Executive Director $100,000 $96,072 2024
Bpca Nys Inc NY$243,862 Executive Director $46,474 $39,088 2024
Washington Economic Development IA$240,258 Executive Director $99,212 $104,097 2023
Birch Run Area Convention And MI$244,111 President $36,000 $34,586 2024
Aberdeen Downtown Association SD$244,220 Executive Director $81,500 $83,720 2024
Indiana Exchange Carrier Associationinc IN$239,920 President $125,600 $123,284 2024
Professional Engineers Of North Carolina NC$239,713 Executive Director $66,632 $64,083 2024
Hispanic Chamber Cincinnati Usa Inc OH$244,726 President $48,000 $48,718 2023
Medical Staff Of Southwest Healthcare CA$244,802 Chief Of Staff $39,000 $32,271 2023
New Holland Pa State Association Of PA$244,951 President $300 $278 2024
Artist Management Association Inc NY$245,325 Secretary $112,196 $94,366 2024
Association Of Club Executives Inc OH$238,577 Executive Di $180,000 $177,451 2024
Association Of College & University Printers Inc MI$237,893 Admin Director $41,154 $39,538 2024

Comp (reported) is the figure on each organization's Form 990 (columns D + F); Comp (adjusted) normalizes it to KY cost of living and 2024 dollars. Click any organization to verify the figure on ProPublica.

Methodology

Comparable organizations were drawn from electronically filed IRS Form 990 returns and matched on sector (NTEE code), budget (a size-adaptive revenue band that tightens as the organization grows), and geography (same-state first, broadening only when too few peers qualify); every organization within the band forms the peer set. To compare fairly across regions and years, peer compensation is normalized to KY cost of living (BEA Regional Price Parities, 2023) and to the subject's filing year (CPI-U). The figure benchmarked is Form 990 Part VII, Section A, columns D + F — reportable pay plus other compensation, benefits, and deferred amounts (column F may include amounts from related organizations) — with the chief executive matched by role. Related-organization amounts (column E) and institutional trustees are excluded. Full methodology: peerbasis.org/methodology.

Sample, role match & sensitivity

Sensitivity — the subject's percentile under alternative compensation definitions:

BasisSubject percentile
Total compensation (D + F), cost-of-living + inflation adjusted — the PeerBasis default65th
Total compensation (D + F), as reported (no adjustments)59th
Reportable pay only (column D), adjusted61st
All sources (D + E + F), adjusted62nd

If the percentile moves materially across these definitions, the result is sensitive to methodology choices, and the board should weigh which basis best fits its facts.

Rebuttable presumption of reasonableness · 26 CFR 53.4958-6

Compensation paid by a tax-exempt organization is presumed reasonable — shifting the burden to the IRS — when three requirements are met. This report supplies the comparability data for the second. The board should record the following in its minutes concurrently with its decision:

Draft board minutes — executive compensation

  1. The compensation of the Executive Director / CEO (Colleen Spencer) was approved in advance by [the Board / Compensation Committee], composed of members with no conflict of interest with respect to the arrangement.
  2. Prior to its determination, the authorized body obtained and relied upon appropriate comparability data, namely the PeerBasis Compensation Comparability Determination dated June 9, 2026, comparing compensation against 472 similarly situated organizations (Same NTEE sector (S41), nationwide + budget 0.67–1.5× revenue).
  3. The authorized body determined that total compensation of $75,281 is reasonable (approximately the 65th percentile of comparable organizations) and documented the basis for this determination concurrently, on [date], by a vote of [__ for / __ against].

Sources: IRS Form 990 e-file data (apps.irs.gov); IRS Business Master File (NTEE classification). Every figure traces to an original public filing — click any organization above to verify it on ProPublica. PeerBasis is a service of Prismind Analytics; its methodology is published, was commissioned for independent adversarial review, and discloses its own limitations. This report is comparability data to support a board's good-faith determination under IRC 4958; it is not legal or tax advice. Generated by PeerBasis on June 9, 2026.