Busacc
- Assets
- $857.6k
- Revenue
- $679.3k
- Investments
- $0.0
- Employees
- 9
- Location
- Houston, TX
- Founding
- 03/2005
- Data as of
- 12/2021
- EIN
- 32-0099085
Organization Overview
Busacc, operating under the name The Bilateral Chamber, is located in Houston, TX. The organization was established in 2005. According to its NTEE Classification (S46) the organization is classified as: Boards of Trade, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Bilateral Chamber employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bilateral Chamber is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Bilateral Chamber generated $679.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.8%) each year. All expenses for the organization totaled $889.6k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.0%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE ATTACHED SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
AS A BILATERAL CHAMBER, BUSACC ORGANIZES TRADE CONFERENCES AS WELL AS INBOUND AND OUTBOUND TRADE MISSIONS TO PROMOTE ECONOMIC DEVELOPMENT AND EXPORTS FOR U.S. COMPANIES GLOBALLY. BUSACC SERVES AS AN OFFICIAL CONTRACTOR FOR THE USTDA TO LEAD THE INBOUND TRADE MISSIONS FROM ALL PARTS OF THE WORLD INTO THE UNITED STATES TO PROMOTE U.S. EXPORTS IN REGIONS OF ECONOMIC INTERESTS TO THE U.S. OUR TRADE MISSIONS PROMOTE INBOUND INVESTMENTS INTO THE U.S. AND FOSTER U.S. EXPORTS IN MULTIPLE SECTORS INCLUDING INFRASTRUCTURE DEVELOPMENT, TRANSPORTATION, COMMUNICATIONS, PETROLEUM INDUSTRIES, RENEWABLE ENERGY, TRAVEL, TOURISM, HEALTH SERVICES, AND VARIOUS OTHERS.
BUSACC ORGANIZES CONFERENCES, PROGRAMS, & SEMINARS THROUGH ITS SMALL BUSINESS WORKSHOP SERIES, AMBASSADOR SERIES, AND LEADERSHIP SERIES FOR MEMBERS TO DISCUSS TRADE, INDUSTRY, & COMMERCE WITH BUSINESS AND GOVERNMENT LEADERS FROM THE U.S. AND MENA REGION. THESE EVENTS ALLOW OUR BUSINESS MEMBERS TO NETWORK WITH INFLUENTIAL BUSINESS LEADERS AND WITH EACH OTHER AND TO LEARN HOW TO EXPORT TO EMERGING MARKETS.
BUSACC ADVOCATES TRADE RELATIONS BETWEEN THE U.S. AND MENA REGIONS THROUGH A VARIETY OF EXPORT ASSISTANCE PROGRAMS. THE PROGRAMS PROVIDE EXPERTISE ON EMERGING MARKETS AND THEIR TRADE POLICIES. BUSACC IS RECOGNIZED BY EMBASSIES GLOBALLY TO CERTIFY DOCUMENTS PERTAINING TO TRADE AND EXPORT OF GOODS FROM THE U.S. TO THE MENA REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Aida Araissi President | OfficerTrustee | 40 | $280,922 |
David L Phillips Chairman Of The Board | OfficerTrustee | 20 | $43,966 |
Adel Chaouch Board Member | Trustee | 1 | $0 |
Wayne R Dickey Board Member | Trustee | 1 | $0 |
Dan Borgen Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $367,503 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $367,503 |
| Total Program Service Revenue | $302,755 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $679,258 |
| 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. | $419,236 |
| Compensation of current officers, directors, key employees. | $104,809 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $201,440 |
| Pension plan accruals and contributions | $31,483 |
| Other employee benefits | $50,503 |
| Payroll taxes | $39,680 |
| Fees for services: Management | $748 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,050 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $8,655 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $14,906 |
| Travel | $2,219 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $837 |
| Insurance | $0 |
| All other expenses | $35,372 |
| Total functional expenses | $889,611 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $126,583 |
| Savings and temporary cash investments | $708,162 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $9,390 |
| Net Land, buildings, and equipment | $4,545 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,905 |
| Total assets | $857,585 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $24,574 |
| Total liabilities | $24,574 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $833,011 |
| Total liabilities and net assets/fund balances | $857,585 |
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