Chattanooga Chamber Foundation
- Assets
- $7.8m
- Revenue
- $5.9m
- Investments
- $0.0
- Employees
- 53
- Location
- Chattanooga, TN
- Founding
- 09/1975
- Data as of
- 06/2023
- EIN
- 23-7032834
Organization Overview
Chattanooga Chamber Foundation is located in Chattanooga, TN. The organization was established in 1975. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2023, Chattanooga Chamber Foundation employed 53 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chattanooga Chamber Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Chattanooga Chamber Foundation generated $5.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $5.5m during the year ending 06/2023. While expenses have increased by 1.8% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATION REGARDING MATTERS OF PUBLIC CONCERN TO IMPROVE THE QUALITY AND INCREASE THE QUANTITY OF ECONOMIC GROWTH AND EMPLOYMENT OPPORTUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LEADERSHIP DEVELOPMENT-TO ENSURE THAT CHATTANOOGA AREA BENEFITS FROM CIVIC AND POLITICAL LEADERSHIP. SPONSOR ANNUAL LEADERSHIP PROGRAM TO PREPARE EXISTING LEADERS FOR COMMUNITY DECISION MAKING, HOLD EVENTS TO RECOGNIZE BUSINESS AND COMMUNITY LEADERS AND COMMUNICATE WITH THE BUSINESS COMMUNITY ON ISSUES VITAL TO LEADERS.
COMMUNITY IMPROVEMENT-PLANNING, IMPLEMENTATION AND MAINTENANCE OF NEIGHBORHOOD DEVELOPMENT INITIATIVES, INCLUDING BEAUTIFICATION, PROMOTION AND EDUCATION. IT ALSO INCLUDES CHATT 2.0, WHICH IS A COMMUNITY-LED MOVEMENT TO ADDRESS EDUCATION AND WORKFORCE OPPORTUNITIES IN HAMILTON COUNTY.
ECONOMIC DEVELOPMENT-PURPOSE IS TO ATTRACT NEW BUSINESS AND INDUSTRY TO THE CHATTANOOGA AREA, AS WELL AS ENCOURAGE EXPANSION IN EXISTING BUSINESSES.
FACILITIES MANAGEMENT-MANAGEMENT OF BUSINESS INCUBATOR THE BDC OFFERS START-UP BUSINESSES OFFICE OR MANUFACTURING SPACE AT BELOW-MARKET RENTAL RATES. TENANTS HAVE ACCESS TO CLERICAL SUPPORT, FAX MACHINE, COPIER AND POSTAGE MACHINE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christine Gillenwater President/ceo | OfficerTrustee | 24 | $246,083 |
Roy D Vaughn Director | Trustee | 1 | $0 |
Paul Leath Director | Trustee | 1 | $0 |
Janelle Reilly Director | Trustee | 1 | $0 |
David Wade Director | Trustee | 1 | $0 |
Jay Dale Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
P&c Construction Building Improvements | 6/29/23 | $534,465 |
Development Councelors Inc Consulting Services - Marketing | 6/29/23 | $153,664 |
Winxnet Building Improvements | 6/29/23 | $149,598 |
Intec Building Improvements | 6/29/23 | $146,115 |
Hunt Commercial Real Estate Property Mgmt Consulting | 6/29/23 | $116,498 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,500,706 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,117,884 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,618,590 |
| Total Program Service Revenue | $982,829 |
| Investment income | $10,961 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $163,273 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,902,246 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $559,214 |
| Compensation of current officers, directors, key employees. | $37,682 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,905,244 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $345,949 |
| Payroll taxes | $170,039 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $40,340 |
| Fees for services: Accounting | $45,718 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $747,070 |
| Advertising and promotion | $207,688 |
| Office expenses | $44,127 |
| Information technology | $181,842 |
| Royalties | $0 |
| Occupancy | $296,381 |
| Travel | $108,982 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $111,520 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $251,944 |
| Insurance | $28,601 |
| All other expenses | $0 |
| Total functional expenses | $5,527,535 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $779,432 |
| Savings and temporary cash investments | $840,958 |
| Pledges and grants receivable | $1,129,875 |
| Accounts receivable, net | $211,422 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $50,174 |
| Net Land, buildings, and equipment | $3,766,901 |
| Investments—publicly traded securities | $209,673 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $858,039 |
| Total assets | $7,846,474 |
| Accounts payable and accrued expenses | $259,326 |
| Grants payable | $0 |
| Deferred revenue | $168,509 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $16,815 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,326,656 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,771,306 |
| Net assets without donor restrictions | $4,885,247 |
| Net assets with donor restrictions | $1,189,921 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $7,846,474 |