The Kernersville Chamber Of Commerce Inc
- Assets
- $221.7k
- Revenue
- $484.5k
- Investments
- $0.0
- Employees
- 6
- Location
- Kernersville, NC
- Founding
- 04/1986
- Data as of
- 12/2023
- EIN
- 56-0934946
Organization Overview
The Kernersville Chamber Of Commerce Inc is located in Kernersville, NC. The organization was established in 1986. 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 12/2023, Kernersville 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. Kernersville 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 12/2023, Kernersville Chamber Of Commerce Inc generated $484.5k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $544.7k during the year ending 12/2023. While expenses have increased by 1.8% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
ORGANIZATION OF BUSINESSES AND PROFESSIONALS WORKING TOGETHER TO PROMOTE THE ECONOMIC PROGRESS OF OUR COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL SPRING FOLLY - A CHAMBER SPONSORED WEEKEND FESTIVAL FOR KERNERSVILLE TO SHINE AND WHERE THE ENTIRE COMMUNITY COMES TOGETHER TO HIGHLIGHT WHAT MAKES KERNERSVILLE SPECIAL. THE FESTIVAL PROVIDES AN OPPORTUNITY FOR LOCAL ORGANIZATIONS TO RAISE MONEY FOR THEIR CHARITABLE CAUSES AND PROVIDE A "QUALITY OF LIFE" FESTIVAL FOR THE RESIDENTS OF KERNERSVILLE.
DOWNTOWN & COMMUNITY MARKETING AND DEVLOPMENT - THE KERNERSVILLE CHAMBER OF COMMERCE PARTNERS WITH THE TOWN OF KERNERSVILLE TO PROMOTE ECONOMIC DEVELOPMENT AND ENSURE THAT KERNERSVILLE IS INCLUDED IN REGIONAL PLANNING, PROVIDES BUSINESS DEVELOPMENT ASSISTANCE, INCLUDING PROMOTION, TRAINING, AND NETWORKING, AND PROMOTES KERNERSVILLE AS A PLACE TO LOCATE/RELOCATE BUSINESSES, PARTICIPATES IN LOCAL PLANNING EFFORTS, INCLUDING THE ECONOMIC DEVELOPMENT ADVISORY COMMITTEE, DOWNTOWN COMMITTEE, AND KERNERSVILLE DOWNTOWN PRESERVATION AND DEVELOPMENT COUNCIL, INC. BOARD.
EDUCATION/TEACHER GRANTS - THE KERNERSVILLE CHAMBER OF COMMERCE IS COMMITTED TO CREATING A STRONG BUSINESS COMMUNITY - ONE OF THE WAYS TO ACCOMPLISH THIS IS IMPROVING THE EDUCATIONAL OPPORTUNITIES AVAILABLE TO OUR PUBLIC SCHOOL STUDENTS. THE CHAMBER HAS ESTABLISHED THE TEACHER GRANT PROGRAM IN AN EFFORT TO PROVIDE UNIQUE EDUCATIONAL EXPERIENCE FOR STUDENTS IN ELEMENTARY, MIDDLE AND HIGH SCHOOLS. FUNDS FOR UNIQUE EDUCATIONAL PROGRAMS ARE PROVIDED TO EDUCATORS SO THEY CAN PURCHASE MANY SUPPLIES AND MATERIALS TO FACILITATE CLASSROOM EXPERIENCE FOR THEIR STUDENTS. GRANTS ARE PROVIDED TO SUITABLE PROJECTS THAT ADD VALUE TO THE LEARNING EXPERIENCE IN THE CLASSROOM AND, WHERE POSSIBLE, FOR PROJECTS DIRECTLY BENEFITTING BOTH THE CLASS AND THE SCHOOL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christine Comer President/ce | OfficerTrustee | 40 | $100,975 |
Laura Alamillo Vice Chair O | Trustee | $0 | |
Chief Scott Alderman Director | Trustee | $0 | |
Kate Allred Director | Trustee | $0 | |
Natalie Babson Secretary | OfficerTrustee | $0 | |
Molly Barber Treasurer | OfficerTrustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $136,845 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $62,215 |
| All other contributions, gifts, grants, and similar amounts not included above | $199,348 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $398,408 |
| Total Program Service Revenue | $52,353 |
| Investment income | $7,686 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $26,045 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $484,492 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $8,164 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $100,975 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $131,896 |
| Pension plan accruals and contributions | $4,301 |
| Other employee benefits | $40,036 |
| Payroll taxes | $17,744 |
| 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 | $45,623 |
| Office expenses | $0 |
| Information technology | $13,125 |
| Royalties | $0 |
| Occupancy | $16,514 |
| Travel | $3,600 |
| 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 | $0 |
| Insurance | $12,043 |
| All other expenses | $1,900 |
| Total functional expenses | $544,668 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,992 |
| Savings and temporary cash investments | $210,742 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $221,734 |
| 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 | $3,926 |
| Total liabilities | $3,926 |
| Net assets without donor restrictions | $130,524 |
| Net assets with donor restrictions | $87,284 |
| 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 | $221,734 |