Alleghany Highlands Chamber Of Commerce
- Assets
- $323.1k
- Revenue
- $734.5k
- Investments
- $0.0
- Employees
- 8
- Location
- Covington, VA
- Founding
- 09/1993
- Data as of
- 12/2022
- EIN
- 54-0165010
Organization Overview
Alleghany Highlands Chamber Of Commerce is located in Covington, VA. The organization was established in 1993. 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 12/2022, Alleghany Highlands Chamber Of Commerce employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Alleghany Highlands Chamber Of Commerce 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 12/2022, Alleghany Highlands Chamber Of Commerce generated $734.5k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $751.2k during the year ending 12/2022. While expenses have increased by 1.4% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE ECONOMIC DEVELOPMENT AND TOURISM IN THE ALLEGHANY HIGHLANDS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE ECONOMIC DEVELOPMENT AND TOURISM IN THE ALLEGHANY HIGHLANDS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Teresa Hammond Executive Director | Officer | 50 | $0 |
Jonathan Arritt Past President | Officer | 5 | $0 |
John Rainone President | Officer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $67,416 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $453,501 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $520,917 |
| Total Program Service Revenue | $0 |
| Investment income | $1,914 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $211,693 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $734,524 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $47,001 |
| 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. | $98,895 |
| Compensation of current officers, directors, key employees. | $98,895 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $149,849 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,373 |
| 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 | $385,082 |
| Advertising and promotion | $0 |
| Office expenses | $15,185 |
| Information technology | $10,375 |
| Royalties | $0 |
| Occupancy | $26,394 |
| Travel | $4,925 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,538 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,519 |
| All other expenses | $0 |
| Total functional expenses | $751,231 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $197,237 |
| Savings and temporary cash investments | $88,714 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,663 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $592 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $31,894 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $323,100 |
| Accounts payable and accrued expenses | $7,200 |
| 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 | $0 |
| Total liabilities | $7,200 |
| Net assets without donor restrictions | $315,900 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $323,100 |
Grants Awarded
Over the last fiscal year, Alleghany Highlands Chamber Of Commerce has awarded $47,001 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
VIRGINIA TOURISM CORP PURPOSE: Tourism | $13,875 |
ALLEGHANY COUNTY PURPOSE: Small Business Recovery | $33,126 |