Mount Airy Chamber Of Commerce Inc
- Assets
- $361.9k
- Revenue
- $459.6k
- Investments
- $0.0
- Employees
- 6
- Location
- Mount Airy, NC
- Founding
- 03/1974
- Data as of
- 12/2022
- EIN
- 56-0682460
Organization Overview
Mount Airy Chamber Of Commerce Inc is located in Mount Airy, NC. The organization was established in 1974. 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, Mount Airy Chamber Of Commerce Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mount Airy Chamber Of Commerce Inc 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 12/2022, Mount Airy Chamber Of Commerce Inc generated $459.6k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $499.9k during the year ending 12/2022. While expenses have increased by 7.9% per year over the past 6 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, PROMOTE AND ENCOURAGE SUCCESSFUL BUSINESS GROWTH FOR OUR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ANNUAL AUTUMN LEAVES FESTIVAL IS SOLELY OWNED BY THE GREATER MOUNT AIRY CHAMBER OF COMMERCE AND WAS CREATED AS A REVENUE STREAM FOR THE CHAMBER OF COMMERCE AND TO HELP OUR LOCAL BUSINESSES AND OUR LOCAL NON-PROFIT PARTNERS. THIS THREE DAY STREET FESTIVAL IS ALWAYS HELD ON THE SECOND FULL WEEKEND IN OCTOBER. WITH OVER 200 ARTISTS/CRAFTSMEN AND OVER 25 LOCAL NON-PROFIT FOOD VENDORS THIS FESTIVAL ATTRACTS THOUSANDS TO THE HEART OF DOWNTOWN MOUNT AIRY EACH OCTOBER AND IS A BIG BOOST TO THE ECONOMIC HEALTH OF OUR COMMUNITY. THE BENEFIT IS MUCH LARGER AND WIDE SPREAD THAN JUST THE GREATER MOUNT AIRY CHAMBER OF COMMERCE IT IS COMMUNITY WIDE.
THE CHAIRMAN'S CUP GOLF TOURNAMENT IS AN ANNUAL ONE DAY LOCAL EVENT THAT ALLOWS BUSINESSES TO ENTERTAIN THEIR CLIENTS, REWARD THEIR EMPLOYEES AND/OR TO SOCIALIZE WITH OTHER BUSINESSES WITH AN AFTERNOON OF RECREATION ON THE GOLF COURSE. SPONSORSHIP PACKAGES ARE AVAILABLE FOR THOSE BUSINESSES TO ADVERTISE THEIR COMPANY WHILE PLAYING GOLF TO THE OTHER PLAYERS AND TEAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Connie Hamlin Chairman | OfficerTrustee | 6 | $0 |
Lenise Lynch Chairman Elect | OfficerTrustee | 4 | $0 |
Dr Candace Holder Vice Chair | OfficerTrustee | 1 | $0 |
Clay Nowlin Treasurer | OfficerTrustee | 3 | $0 |
Chris Lumsden Immediate Past Chair | Trustee | 1 | $0 |
Luke Morrison Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $145,763 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $145,763 |
| Total Program Service Revenue | $301,631 |
| Investment income | $12,230 |
| 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 | $459,624 |
| 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. | $131,986 |
| Compensation of current officers, directors, key employees. | $105,589 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $155,721 |
| Pension plan accruals and contributions | $6,010 |
| Other employee benefits | $0 |
| Payroll taxes | $22,475 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,125 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,980 |
| Office expenses | $23,367 |
| Information technology | $1,955 |
| Royalties | $0 |
| Occupancy | $25,523 |
| Travel | $6,107 |
| 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 | $460 |
| Insurance | $3,841 |
| All other expenses | $4,615 |
| Total functional expenses | $499,926 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $39,617 |
| Savings and temporary cash investments | $255,234 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $53,024 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $589 |
| Prepaid expenses and deferred charges | $9,594 |
| Net Land, buildings, and equipment | $3,819 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $361,877 |
| Accounts payable and accrued expenses | $7,074 |
| Grants payable | $0 |
| Deferred revenue | $41,300 |
| 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 | $48,374 |
| Net assets without donor restrictions | $313,503 |
| 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 | $361,877 |