Yancey County-Burnsville Chamber Of Commerce
- Assets
- $277.4k
- Revenue
- $377.1k
- Investments
- $0.0
- Employees
- 1
- Location
- Burnsville, NC
- Founding
- 02/1978
- Data as of
- 12/2021
- EIN
- 56-1153002
Organization Overview
Yancey County-Burnsville Chamber Of Commerce is located in Burnsville, NC. The organization was established in 1978. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Yancey County-Burnsville 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, Yancey County-Burnsville Chamber Of Commerce generated $377.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.2% each year . All expenses for the organization totaled $289.1k during the year ending 12/2021. While expenses have increased by 14.1% 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
THE MISSION OF THE BURNSVILLE-YANCEY COUNTY CHAMBER OF COMMERCE IS TO REPRESENT THE BUSINESS COMMUNITY BY PROMOTING A VITAL, SUSTAINABLE ECONOMY WHILE SAFEGUARDING THE HIGH QUALITY OF LIFE, HERITAGE, AND UNIQUENESS OF OUR COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAMS BUSINESS EDUCATION BREAKFAST THIS PROGRAM OFFERS BUSINESS EDUCATION OPPORTUNITIES TO OUR MEMBERS AS WELL AS POTENTIAL MEMBERS. THE BREAKFAST IS OFFERED MONTHLY AND IS APPROXIMATELY 2 HOURS LONG. A PROFESSIONAL SPEAKER IS SCHEDULED, AND THE TOPICS ARE OF VALUE TO BUSINESS OWNERS AND MANAGERS. THE MEETING ALSO OFFERS BUSINESSES THE OPPORTUNITY TO NETWORK. THIS PROGRAM WAS DONE IN PARTNERSHIP WITH THE MAYLAND SMALL BUSINESS DEVELOPMENT CENTER. SIX PROGRAMS TOOK PLACE IN 2021 WITH MORE THAN 100 PARTICIPANTS BOTH IN PERSON AND VIRTUALLY. WE WILL HOST 10 SUCH EVENTS IN 2022.
BUSINESS AFTER-HOURS THE BUSINESS AFTER- HOURS PROGRAM IS A NETWORKING AND SOCIALIZING OPPORTUNITY TO MEMBERS AND POTENTIAL MEMBERS. IT IS HOSTED BY A MEMBER BUSINESS, AND THEY PROVIDE REFRESHMENTS AND ARE GIVEN THE OPPORTUNITY TO SHOWCASE THEIR BUSINESS. THE AFTER-HOURS EVENTS ARE HOSTED MONTHLY. SEVEN EVENTS TOOK PLACE WITH MORE THAN 200 PARTICIPANTS IN 2021. WE WILL HOST 12 AFTER-HOURS EVENTS IN 2022.
MOUNT MITCHELL CRAFT FAIR THE CRAFT FAIR IS THE LARGEST EVENT IN YANCEY COUNTY AND DRAWS 250+ ARTISTS AND CRAFTS PEOPLE FOR THE 2-DAY EVENT. STREETS IN THE DOWNTOWN AREA ARE CLOSED AND VENDORS SET UP AROUND THE SQUARE AND ON MAIN STREET. MORE THAN 30,000 VISITORS COME FOR THE FAIR. THIS IS THE MAIN FUNDRAISING EVENT FOR THE CHAMBER OF COMMERCE AND IS SUPPORTED BY MORE THAN 40 VOLUNTEERS. DOWNTOWN BUSINESSES HAVE STATED THAT THE FAIR WEEKEND IS THEIR NUMBER ONE BEST SALES DAYS OF THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christine Kay Wood Executive Director | Officer | 40 | $50,231 |
Jim Gentry President | OfficerTrustee | 0.5 | $0 |
Kari Weaver President Elect | OfficerTrustee | 0.5 | $0 |
Jake Blood Treasurer | OfficerTrustee | 0.5 | $0 |
Lucy Doll Secretary | OfficerTrustee | 0.5 | $0 |
Bryan Peterson Board Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $27,740 |
| Fundraising events | $3,600 |
| Related organizations | $0 |
| Government grants | $299,005 |
| 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 | $330,345 |
| Total Program Service Revenue | $7,670 |
| Investment income | $1 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $32,670 |
| Net Income from Gaming Activities | $908 |
| Net Income from Sales of Inventory | $129 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $377,072 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $9,880 |
| 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. | $51,777 |
| Compensation of current officers, directors, key employees. | $10,355 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,685 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,651 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,965 |
| Advertising and promotion | $182,708 |
| Office expenses | $9,044 |
| Information technology | $4,157 |
| Royalties | $0 |
| Occupancy | $10,390 |
| Travel | $435 |
| 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 | $4,990 |
| Insurance | $2,394 |
| All other expenses | $0 |
| Total functional expenses | $289,075 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $201,069 |
| Savings and temporary cash investments | $26,422 |
| 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 | $49,947 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $277,438 |
| Accounts payable and accrued expenses | $256 |
| 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 | $11,900 |
| Other liabilities | $0 |
| Total liabilities | $12,156 |
| Net assets without donor restrictions | $265,282 |
| 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 | $277,438 |
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