Cen-Tex African American Chamber Of Commerce
- Assets
- $246.4k
- Revenue
- $317.6k
- Investments
- $0.0
- Employees
- 3
- Location
- Waco, TX
- Founding
- 06/2004
- Data as of
- 12/2021
- EIN
- 47-0938907
Organization Overview
Cen-Tex African American Chamber Of Commerce is located in Waco, TX. The organization was established in 2004. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Cen-Tex African American Chamber Of Commerce employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cen-Tex African American Chamber Of Commerce 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, Cen-Tex African American Chamber Of Commerce generated $317.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.4% each year . All expenses for the organization totaled $267.8k during the year ending 12/2021. While expenses have increased by 16.1% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE ECONOMIC DEVELOPMENT / IMPACT SERVICES FOR COMMUNITY, SMALL BUSINESS, AND INDIVIDUALS BY CREATING OPPORTUNITIES FOR FINANCIAL SUCCESS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE ECONOMIC DEVELOPMENT IN THE AFRICAN AMERICAN COMMUNITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Bible Executive Director | OfficerTrustee | 40 | $60,000 |
Shirl Brown Board Member | Trustee | 1 | $0 |
Chris King Chairman | Trustee | 1 | $0 |
Linda Mcdonald Vice Chairwomen | Trustee | 1 | $0 |
Mike Warden Board Member | Trustee | 1 | $0 |
Dortheia Love Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $27,595 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $125,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $21,345 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $173,940 |
| Total Program Service Revenue | $94,570 |
| 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 | $10,267 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $317,577 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $57,750 |
| 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. | $119,387 |
| Compensation of current officers, directors, key employees. | $41,785 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,077 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $23,690 |
| Advertising and promotion | $3,063 |
| Office expenses | $9,754 |
| Information technology | $6,947 |
| Royalties | $0 |
| Occupancy | $16,412 |
| Travel | $1,961 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,118 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $898 |
| Insurance | $1,218 |
| All other expenses | $5,228 |
| Total functional expenses | $267,818 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $232,211 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $10,417 |
| 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 | $0 |
| Net Land, buildings, and equipment | $3,769 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $246,397 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $27,206 |
| 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 | $104,800 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,501 |
| Total liabilities | $142,507 |
| Net assets without donor restrictions | $77,108 |
| Net assets with donor restrictions | $26,782 |
| 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 | $246,397 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Cen-Tex African American Chamber Of Commerce has recieved totaling $4,000.
| Awarding Organization | Amount |
|---|---|
Magnolia Foundation Waco, TX PURPOSE: UNRESTRICTED DONATION | $3,500 |
Magnolia Foundation Waco, TX PURPOSE: TABLE SPONSOR | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lloyds Register North America Inc Houston, TX | $53,290,945 | $33,311,416 |
Louisiana Ambulance Alliance Inc Napoleonville, LA | $5,578,332 | $30,543,889 |
Wi-Fi Alliance Austin, TX | $27,634,772 | $19,782,142 |
Greater Houston Partnership Inc Houston, TX | $22,962,720 | $19,728,312 |
Bbb Serving The Heart Of Texas Austin, TX | $13,203,011 | $18,551,696 |
Visit San Antonio San Antonio, TX | $11,429,570 | $19,048,365 |
Clean Gulf Associates Inc New Orleans, LA | $10,070,698 | $12,457,251 |
Meeting Professionals International Dallas, TX | $6,166,822 | $11,031,821 |
Dallas Regional Chamber Dallas, TX | $15,269,996 | $9,505,789 |
Brazos Pilots Association Freeport, TX | $5,263,034 | $10,473,577 |
American Agape Foundation Inc San Antonio, TX | $56,717,465 | $7,832,495 |
Salesmanship Club Of Dallas Dallas, TX | $14,081,869 | $8,485,267 |