Benson Chamber Of Commerce
- Assets
- $198.2k
- Revenue
- $117.5k
- Investments
- $0.0
- Employees
- 2
- Location
- Benson, NC
- Founding
- 04/1953
- Data as of
- 12/2021
- EIN
- 56-0905834
Organization Overview
Benson Chamber Of Commerce is located in Benson, NC. The organization was established in 1953. 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, Benson Chamber Of Commerce employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Benson 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, Benson Chamber Of Commerce generated $117.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.5% each year. All expenses for the organization totaled $125.7k during the year ending 12/2021. While expenses have increased by 5.4% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
ADVANCE THE GENERAL WELFARE OF THE COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION IS ORGANIZED TO ADVANCE THE GENERAL WELFARE OF THE COMMUNITY. THE ORGANIZATION SERVES ITS 250 MEMBERS AS WELL AS THE GENERAL PUBLIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Loretta Byrd President | Officer | 40 | $40,000 |
Justin Powell Past Chair | Officer | 1 | $0 |
Leah Johnson Treasurer | Officer | 1 | $0 |
Brian Barefoot Director | Trustee | 1 | $0 |
Shanna Capps Director | Trustee | 1 | $0 |
Joshua Caro Director | Trustee | 1 | $0 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $43,658 |
| Investment income | $207 |
| 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 | $117,462 |
| 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 | $49,135 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,510 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $13,358 |
| Advertising and promotion | $8,124 |
| Office expenses | $10,627 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,000 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $8,873 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,944 |
| Insurance | $1,240 |
| All other expenses | $3,325 |
| Total functional expenses | $125,688 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,401 |
| Savings and temporary cash investments | $104,340 |
| 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 | $78,579 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,929 |
| Total assets | $198,249 |
| Accounts payable and accrued expenses | $842 |
| 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 | $222,452 |
| Total liabilities | $223,294 |
| Net assets without donor restrictions | -$25,045 |
| 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 | $198,249 |
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