Yadkin Valley Chamber Of Commerce
- Assets
- $140.9k
- Revenue
- $122.3k
- Investments
- $0.0
- Employees
- 3
- Location
- Elkin, NC
- Founding
- 07/1988
- Data as of
- 12/2021
- EIN
- 56-1570031
Organization Overview
Yadkin Valley Chamber Of Commerce is located in Elkin, NC. The organization was established in 1988. 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, Yadkin Valley Chamber Of Commerce employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Yadkin Valley 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, Yadkin Valley Chamber Of Commerce generated $122.3k 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 (5.4%) each year. All expenses for the organization totaled $114.4k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (5.6%) 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
YVCC IS A DYNAMIC ORGANIZATION THAT PROMOTES A POSITIVE BUSINESS ENVIRONMENT. FACILITATES COMMUNITY BETTERMENTS AND SUPPORTS ECONOMIC DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THANKS TO THE LOOSENING OF COVID RESTRICTIONS, THE CHAMBER WAS ABLE TO HAVE SOME SUCCESSFUL FUNDRAISERS THIS YEAR. WE SPONSORED A PARADE, HAD A CHICKEN PLATE FUNDRAISER, HAD A YARD SALE AND PARTICIPATED IN A FEW FESTIVALS IN ELKIN. THE PUMPKIN FESTIVAL IN ELKIN WAS VERY SUCCESSFUL THIS YEAR AND WAS OUR MOST SUCCESSFUL FUNDRAISER FOR 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Ex Officio Seat | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $72,161 |
| 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 | $72,161 |
| Total Program Service Revenue | $40,600 |
| Investment income | $617 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $4,258 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $122,268 |
| 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. | $70,522 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,444 |
| Payroll taxes | $3,737 |
| 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 | $400 |
| Office expenses | $22,948 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,262 |
| Travel | $1,453 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,012 |
| Interest | $30 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $229 |
| Insurance | $2,318 |
| All other expenses | $0 |
| Total functional expenses | $114,355 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $25,827 |
| Savings and temporary cash investments | $103,229 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,211 |
| 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 | $712 |
| Net Land, buildings, and equipment | $6,914 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $140,893 |
| Accounts payable and accrued expenses | $857 |
| 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 | $0 |
| Total liabilities | $857 |
| Net assets without donor restrictions | $0 |
| 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 | $140,893 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Yadkin Valley Chamber Of Commerce has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
American Academy Of Pediatrics Inc Itasca, IL PURPOSE: CATCH | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Federation Of Independent Business Inc Nashville, TN | $77,203,691 | $109,079,617 |
North American Electric Reliabilitycorporation Atlanta, GA | $65,227,333 | $81,782,902 |
Gsma Ltd Atlanta, GA | $262,728,803 | $123,320,595 |
Packaging Machinery Manufacturers Institute Inc Herndon, VA | $71,869,344 | $62,733,082 |
Consumer Technology Association Arlington, VA | $357,760,838 | $25,474,279 |
Srcco Inc Durham, NC | $42,497,453 | $49,465,239 |
Fs-Isac Inc Reston, VA | $27,418,346 | $31,957,295 |
National Association Of Convenience Stores Inc Alexandria, VA | $81,131,547 | $56,800,862 |
National Association Of State Boards Of Accountancy Inc Nashville, TN | $83,126,370 | $38,317,801 |
Air-Conditioning Heating And Refrigeration Institute Arlington, VA | $58,066,234 | $32,390,159 |
Southern Motor Carriers Association Inc Peachtree City, GA | $87,365,051 | $35,375,343 |
Unc Management Company Inc Chapel Hill, NC | $53,097,067 | $30,528,524 |