Boone Area Chamber Of Commerce
- Assets
- $461.4k
- Revenue
- $615.8k
- Investments
- $0.0
- Employees
- 8
- Location
- Boone, NC
- Founding
- 09/1955
- Data as of
- 06/2022
- EIN
- 56-0517450
Organization Overview
Boone Area Chamber Of Commerce is located in Boone, NC. The organization was established in 1955. 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 06/2022, Boone Area Chamber Of Commerce employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Boone Area 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 06/2022, Boone Area Chamber Of Commerce generated $615.8k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 11.8% each year . All expenses for the organization totaled $519.3k during the year ending 06/2022. While expenses have increased by 5.3% per year over the past 3 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
TO ADVANCE ECONOMIC PROSPERITY AND TO ENCOURAGE PUBLIC/PRIVATE COOPERATION THAT WILL BROADEN THE ECONOMIC BASE AND ENHANCE THE QUALITY OF LIFE IN THE LOCAL COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WATAUGA LEADERSHIP: TO IMPLEMENT A LEADERSHIP DEVELOPMENT PROGRAM DESIGNED TO MEET THE HIGH COUNTRY'S NEED FOR THE ACTIVE PARTICIPATION OF INFORMED AND EDUCATED LEADERS. PROGRAM SERVICE IS ACCOMPLISHED BY 1)IDENTIFYING POTENTIAL LEADERS AND PROVIDING THEM WITH THE RESOURCES NEEDED TO SPUR LOCAL ACTION AND INVOLVEMENT 2)PROVIDING PARTICIPANTS OF THE PROGRAM WITH OPPORTUNITIES TO APPLY THEIR TALENTS THROUGHOUT THE COMMUNITY AND 3)USE RESOURCES TO CONTINUE TO DESIGN AND EVOLVE THE PROGRAM.
MEMBERSHIP SERVICES: TO PROMOTE THE BENEFITS OF CHAMBER MEMBERSHIP THROUGHOUT THE BUSINESS AND PROFESSIONAL COMMUNITY. THIS IS ACCOMPLISHED BY DEVELOPING AND IMPLEMENTING A COMPREHENSIVE ONGOING MEMBERSHIP PROGRAM WITH THE GOAL OF BUILDING AWARENESS, EDUCATING, AND MOTIVATING FOR THE PURPOSE OF RECRUITING AND RETAINING MEMBERS.
BUSINESS DEVELOPMENT: TO USE MEMBER EXPERTISE AND RESOURCES IN THE SUPPORT OF EXISTING BUSINESS GROWTH AND PROSPERITY AND TO ASSIST ENTREPRENUERS AND COMPANIES SEEKING TO EXPAND/RELOCATE TO THE HIGH COUNTRY. PROGRAM SERVICE IS ACCOMPLISHED BY 1)INITIATING PROGRAMS AND SERVICES TARGETED TO THE ADVANCEMENT OF SMALL BUSINESS 2)PARTICIPATING IN COMMUNITY-BASED BUSINESS COUNCILS TO PROVIDE VALUE-ADDED LOCAL SERVICES 3)ACTING AS A REFERRAL/DISTRIBUTION/COMMUNICATION SOURCE OF BUSINESS-BENEFICIAL INFORMATION 4)PARTNERING WITH TOURISM PROMOTION ORGANIZATIONS IN THE DEVELOPMENT OF THE HIGH COUNTRY AS A MAJOR TOURIST DESTINATION AND 5) PARTERNING WITH LOCAL REGIONAL WORKFORCE DEVELOPMENT ORGANIZATIONS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Sandy Vannoy Executive Committee-Chair | OfficerTrustee | 2 | $0 |
Talia Freeman Executive Committee-Chair Elect | OfficerTrustee | 2 | $0 |
Dr Scott Elliott Executive Committee-Past Chair | OfficerTrustee | 2 | $0 |
Joe Nash Executive Committee-Treasurer | OfficerTrustee | 2 | $0 |
Dr Harry Davis Director | Trustee | 1 | $0 |
Brent Keith Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $54,136 |
| 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 | $54,136 |
| Total Program Service Revenue | $384,237 |
| Investment income | $1,055 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,000 |
| Net Gain/Loss on Asset Sales | $147,582 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $615,842 |
| 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. | $69,663 |
| Compensation of current officers, directors, key employees. | $6,966 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $189,606 |
| Pension plan accruals and contributions | $5,064 |
| Other employee benefits | $9,921 |
| Payroll taxes | $18,818 |
| 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 | $6,002 |
| Information technology | $23,341 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,608 |
| 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 | $8,235 |
| Insurance | $1,561 |
| All other expenses | $47,235 |
| Total functional expenses | $519,319 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $37,882 |
| Savings and temporary cash investments | $339,324 |
| 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 | $84,227 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $461,433 |
| 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 | $1,436 |
| Total liabilities | $1,436 |
| Net assets without donor restrictions | $459,997 |
| 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 | $461,433 |