Outer Banks Chamber Of Commerce Inc is located in Kill Devil Hills, NC. The organization was established in 1975. 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 09/2022, Outer Banks Chamber Of Commerce Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Outer Banks 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 09/2022, Outer Banks Chamber Of Commerce Inc generated $377.7k 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 (3.0%) each year. All expenses for the organization totaled $345.4k during the year ending 09/2022. As we would expect to see with falling revenues, expenses have declined by (4.1%) 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
EMPOWER THE OUTER BANKS BUSINESS COMMUNITY BY PROMOTING AND DEVELOPING ECONOMIC PROSPERITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBERSHIP SERVICES INCLUDE DISTRIBUTE BROCHURES & DIRECTORIES ON THE OUTER BANKS. RESPOND TO INQUIRIES AND GENERAL PROMOTION OF THE AREA. APPROX. 1000 MEMBERS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Karen Brown President | Officer | 40 | $106,846 |
Josh Stubblefield Chair Elect | OfficerTrustee | 1 | $0 |
Myra Ladd-Bone Chairman | OfficerTrustee | 1 | $0 |
Jim Gilreath Vice Chair | OfficerTrustee | 1 | $0 |
Larry Warner Vice Chair | OfficerTrustee | 1 | $0 |
Thomas Bruce Vice Chair | OfficerTrustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $208,828 |
Fundraising events | $82,798 |
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 | $291,626 |
Total Program Service Revenue | $85,941 |
Investment income | $110 |
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 | $377,677 |
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. | $89,946 |
Compensation of current officers, directors, key employees. | $89,946 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $97,868 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $23,427 |
Payroll taxes | $16,430 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $1,200 |
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 | $18,835 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $14,074 |
Travel | $1,273 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $9,622 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $12,127 |
Insurance | $0 |
All other expenses | $0 |
Total functional expenses | $345,410 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $289,769 |
Savings and temporary cash investments | $20,851 |
Pledges and grants receivable | $1,300 |
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 | $3,991 |
Net Land, buildings, and equipment | $84,776 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $400,687 |
Accounts payable and accrued expenses | $33,069 |
Grants payable | $0 |
Deferred revenue | $133,732 |
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 | $7,323 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $174,124 |
Net assets without donor restrictions | $226,563 |
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 | $400,687 |
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