North Carolina Chamber
- Assets
- $7.8m
- Revenue
- $6.4m
- Investments
- $0.0
- Employees
- 40
- Location
- Raleigh, NC
- Founding
- 06/1995
- Data as of
- 12/2023
- EIN
- 56-0340499
Organization Overview
North Carolina Chamber is located in Raleigh, NC. The organization was established in 1995. 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 12/2023, North Carolina Chamber employed 40 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Carolina 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 12/2023, North Carolina Chamber generated $6.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $5.8m during the year ending 12/2023. While expenses have increased by 0.9% per year over the past 9 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
TO PROMOTE BUSINESS INTERESTS IN NORTH CAROLINA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADVOCACY - REPRESENTATION BEFORE LEGISLATIVE BODIES AS WELL AS ATTENDING HEARINGS TO UNDERSTAND PROPOSED LEGISLATION AND ADVOCATE FOR THE POLICIES THAT MOVE THE STATE FORWARD.
POLITICAL PROGRAM - PROGRAM THAT ANALYZES AND SHAPES THE POLITICAL LANDSCAPE TO MAKE CHANGE POSSIBLE BY DESIGNATING JOBS CHAMPIONS & JOBS ADVOCATES IN THE GENERAL ASSEMBLY.
MEMBERSHIP SERVICES - DEVELOPING RELATIONSHIPS WITH MEMBERS TO UNDERSTAND THEIR BUSINESS CONCERNS AND COMMUNICATE RELEVANT INFORMATION INCLUDING POTENTIAL LAW CHANGES THAT AFFECT THEIR BUSINESS.
EDUCATION & AWARENESS - SEMINARS REGARDING AREAS OF INTEREST AND TRENDING ISSUES HELD FOR MEMBERS AND GENERAL PUBLIC FOR PURPOSES OF EDUCATING AND INFORMING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Salamido President/ce | OfficerTrustee | 34.5 | $688,383 |
Raymond Starling General Coun | Officer | 30 | $319,328 |
Beth Shore VP Of Busine | Officer | 37.5 | $201,430 |
Kate Payne VP Of Commun | Officer | 36.5 | $182,598 |
Meredith Archie Foundation P | Officer | 1 | $182,725 |
Jake Sipe Senior Relat | 37.5 | $134,177 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Highwoods Realty Limited Partnership Property Mgmt | 12/30/23 | $418,978 |
Vaco Llc Employment Svcs | 12/30/23 | $143,895 |
Convergent Nonprofit Solutions Llc Consulting | 12/30/23 | $383,500 |
Neimand Collaborative Inc Marketing | 12/30/23 | $105,000 |
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 | $900,846 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $900,846 |
| Total Program Service Revenue | $5,401,069 |
| Investment income | $78,831 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $1,550 |
| Net Rental Income | $18,000 |
| Net Gain/Loss on Asset Sales | -$44,792 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,356,101 |
| 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. | $1,939,995 |
| Compensation of current officers, directors, key employees. | $479,086 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $875,480 |
| Pension plan accruals and contributions | $67,503 |
| Other employee benefits | $140,189 |
| Payroll taxes | $166,519 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $34,986 |
| Fees for services: Accounting | $58,718 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,370 |
| Fees for services: Other | $750,096 |
| Advertising and promotion | $0 |
| Office expenses | $263,214 |
| Information technology | $68,691 |
| Royalties | $0 |
| Occupancy | $420,881 |
| Travel | $28,159 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $129,887 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $81,612 |
| Insurance | $18,636 |
| All other expenses | $0 |
| Total functional expenses | $5,848,673 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,355,658 |
| Savings and temporary cash investments | $0 |
| 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 | $112,560 |
| Net Land, buildings, and equipment | $295,622 |
| Investments—publicly traded securities | $3,116,465 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,893,206 |
| Total assets | $7,773,511 |
| Accounts payable and accrued expenses | $331,460 |
| Grants payable | $0 |
| Deferred revenue | $2,081,110 |
| 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 | $2,255,531 |
| Total liabilities | $4,668,101 |
| Net assets without donor restrictions | $3,105,410 |
| 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 | $7,773,511 |