Greater Winston Salem Chamber Of Commerce Foundation Inc
- Assets
- $754.9k
- Revenue
- $60.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Winstonsalem, NC
- Founding
- 05/1976
- Data as of
- 12/2023
- EIN
- 51-0167887
Organization Overview
Greater Winston Salem Chamber Of Commerce Foundation Inc is located in Winstonsalem, NC. The organization was established in 1976. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Winston Salem Chamber Of Commerce Foundation Inc 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 12/2023, Greater Winston Salem Chamber Of Commerce Foundation Inc generated $60.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (11.0%) each year. All expenses for the organization totaled $399.8k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Greater Winston Salem Chamber Of Commerce Foundation Inc has awarded 61 individual grants totaling $774,815. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
REPRESENT THE GREATER WINSTON-SALEM'S PHILANTHROPIC AND ELEEMOSYNARY INTERESTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION PROGRAMS FUNDS CONTRIBUTED TO ADDRESS EDUCATION ISSUES INCLUDING IMPROVING HIGH SCHOOL GRADUATION RATES THROUGH MENTORSHIP PROGRAMS, PARTNERING LOCAL BUSINESSES AND LOCAL SCHOOLS AND RECRUITING CORPORATE VOLUNTEERS TO WORK WITH LOCAL ELEMENTARY SCHOOL AGE CHILDREN. SMALL BUSINESS PROGRAMS FUNDS CONTRIBUTED TO SUPPORT (1) AN OPERATING GRANT PROGRAM IN SUPPORT OF BUSINESSES LOCATED WITHIN FORSYTH COUNTY THAT ARE ADVERSELY IMPACTED BY FEDERALLY OR STATE-DECLARED DISASTERS IN ORDER TO COMBAT COMMUNITY DETERIORATION AND TO LESSEN THE BURDENS OF GOVERNMENT AND (2) ENTREPRENEURIAL GRANT INITIATIVES TO SUPPORT THE GROWTH OF WINSTON- SALEM'S INNOVATION ECONOMY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Owens President/ce | Officer | 1 | $0 |
Nick Reed CFO | Officer | 2 | $0 |
Laura Lee SVP Of Econo | 0 | $0 | |
Ajay Patel Trustee | Trustee | 1 | $0 |
Brent Waddell Trustee | Trustee | 1 | $0 |
Rob Simon Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $60,130 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $60,130 |
| Total Program Service Revenue | $0 |
| Investment income | $117 |
| 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 | $60,247 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $219,600 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $58,462 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $399,809 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $414,982 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $305,240 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $34,714 |
| Total assets | $754,936 |
| Accounts payable and accrued expenses | $219,600 |
| 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 | $231,263 |
| Total liabilities | $450,863 |
| Net assets without donor restrictions | $46,578 |
| Net assets with donor restrictions | $257,495 |
| 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 | $754,936 |
Grants Awarded
Over the last fiscal year, Greater Winston Salem Chamber Of Commerce Foundation Inc has awarded $199,600 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
NATA BELLES PURPOSE: BUSINESS MINORITY PR | $15,000 |
HEAVEN NAILS STUDIO LLC PURPOSE: BUSINESS MINORITY PR | $8,500 |
LELO'S CUBAN CAFE PURPOSE: BUSINESS MINORITY PR | $10,000 |
LILLY'S NETWORK PURPOSE: BUSINESS MINORITY PR | $10,000 |
TORO TRENCHING LLC PURPOSE: BUSINESS MINORITY PR | $15,000 |
SMITH'S PRIMARY CARE AND WELLNESS PURPOSE: BUSINESS MINORITY PR | $17,250 |