Cabarrus Regional Chamber Of Commerce
- Assets
- $450.1k
- Revenue
- $551.4k
- Investments
- $0.0
- Employees
- 5
- Location
- Concord, NC
- Founding
- 12/1958
- Data as of
- 12/2021
- EIN
- 56-0501076
Organization Overview
Cabarrus Regional Chamber Of Commerce is located in Concord, NC. The organization was established in 1958. 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, Cabarrus Regional Chamber Of Commerce employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cabarrus Regional 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, Cabarrus Regional Chamber Of Commerce generated $551.4k 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 $559.1k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (6.2%) 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
THE CHAMBER IS A TRUSTED ADVOCATE, CATALYST, CONVEYOR, AND EDUCATOR FOR CABARRUS BUSINESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CHAMBER ADVOCATES FOR, CONVENES AND EDUCATES MEMBERS THROUGH IN-PERSON AND VIRTUAL EVENTS. DURING 2021 WHEN OUR COMMUNITY WAS GREATLY AFFECTED BY COVID IMPACTS, THE CHAMBER WAS A MAJOR SOURCE OF INFORMATION, RESOURCES AND SUPPORTS FOR ALL CABARRUS COUNTY BUSINESSES, NOT ONLY MEMBERS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbara Jones Executive Director | Trustee | 40 | $95,213 |
Dana Ritchie Past-Chair | OfficerTrustee | 2 | $0 |
Ladoska Keeter Treasurer | OfficerTrustee | 2 | $0 |
Chad Tarlton Chair | OfficerTrustee | 2 | $0 |
Ward Childress Vice Chair | OfficerTrustee | 2 | $0 |
Randy Welch Ex-Officio Officer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $93,849 |
| 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 | $93,849 |
| Total Program Service Revenue | $400,220 |
| Investment income | $421 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,097 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $551,414 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $231,657 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $29,680 |
| Payroll taxes | $17,115 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $28,776 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $43,172 |
| Advertising and promotion | $5,349 |
| Office expenses | $4,125 |
| Information technology | $5,211 |
| Royalties | $0 |
| Occupancy | $91,791 |
| Travel | $4,554 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,933 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,654 |
| Insurance | $3,493 |
| All other expenses | $15,390 |
| Total functional expenses | $559,136 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $110,090 |
| Savings and temporary cash investments | $325,498 |
| 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 | $0 |
| Net Land, buildings, and equipment | $7,038 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,500 |
| Total assets | $450,126 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $450,126 |
| 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 | $450,126 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Federation Of Independent Business Inc Nashville, TN | $77,203,691 | $109,079,617 |
North American Electric Reliabilitycorporation Atlanta, GA | $65,227,333 | $81,782,902 |
Gsma Ltd Atlanta, GA | $262,728,803 | $123,320,595 |
Packaging Machinery Manufacturers Institute Inc Herndon, VA | $71,869,344 | $62,733,082 |
Consumer Technology Association Arlington, VA | $357,760,838 | $25,474,279 |
Srcco Inc Durham, NC | $42,497,453 | $49,465,239 |
Fs-Isac Inc Reston, VA | $27,418,346 | $31,957,295 |
National Association Of Convenience Stores Inc Alexandria, VA | $81,131,547 | $56,800,862 |
National Association Of State Boards Of Accountancy Inc Nashville, TN | $83,126,370 | $38,317,801 |
Air-Conditioning Heating And Refrigeration Institute Arlington, VA | $58,066,234 | $32,390,159 |
Southern Motor Carriers Association Inc Peachtree City, GA | $87,365,051 | $35,375,343 |
Unc Management Company Inc Chapel Hill, NC | $53,097,067 | $30,528,524 |