Asheville Area Chamber Of Commerce Community Betterment Foundation is located in Asheville, NC. The organization was established in 1992. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Asheville Area Chamber Of Commerce Community Betterment Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Asheville Area Chamber Of Commerce Community Betterment Foundation generated $6.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 43.2% each year . All expenses for the organization totaled $5.6m during the year ending 06/2021. While expenses have increased by 41.1% per year over the past 6 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
DEVELOP AND ACCELERATE GROWTH & EMPLOYMENT OPPORTUNITIES FOR THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
1 THROUGH WORK WITH THE ASHEVILLE AREA CHAMBER OF COMMERCE, FUNDED ACTIVITIES THAT PLACED AN EMPHASIS ON WORKFORCE PREPAREDNESS, BUSINESS DEVELOPMENT AND RECRUITMENT AND EXPANSION OF EXISTING INDUSTRY. 2 RECEIVED FUNDS FROM THE GOLDEN LEAF FOUNDATION AND DISBURSED SAID FUNDS TO THE ASHEVILLE CHAMBER TO OPERATE INCLUSIVE HIRING PARTNERS, A RESOURCE TO CLOSE THE OPPORTUNITY GAP THAT CONNECTS BUNCOMBE COUNTY RESIDENTS EXPERIENCING EMPLOYMENT BARRIERS LIKE FORMER JUSTICE INVOLVEMENT, PREVIOUS INCARCERATION, SUBSTANCE USE DISORDER RECOVERY, INTERGENERATIONAL POVERTY, LONG-TERM UNEMPLOYMENT, OR LONG-TERM UNDEREMPLOYMENT WITH WELL-PAYING CAREERS IN HIGH-DEMAND INDUSTRIES.3 RECEIVED FUNDS FROM THE GOLDEN LEAF FOUNDATION AND BILTMORE FARMS LLC AND PAID SAID FUNDS TO CONSTRUCTION VENDORS BUILDING A BRIDGE SPANNING THE FRENCH BROAD RIVER THAT WILL CONNECT HIGHWAY NC 191 TO A NEW INDUSTRIAL PARK.4 PROVIDED 21 BUSINESSES OWNED BY PEOPLE OF COLOR ADVERTISING BENEFITS AND MEMBERSHIPS IN THE ASHEVILLE CHAMBER THROUGH THE PEOPLE'S COMMUNITY AND INCLUSION INITIATIVE. 5 IN COOPERATION WITH THE FOLK HERITAGE COMMITTEE, PROMOTED TRADITIONAL MOUNTAIN MUSIC AND DANCE THROUGH THE SHINDIG ON THE GREEN PERFORMANCES AND THE MOUNTAIN DANCE AND FOLK FESTIVAL.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
John F A V Cecil Vice Chair | OfficerTrustee | 1 | $0 |
Suzanne Deferie Treasurer | OfficerTrustee | 1 | $0 |
Janice Brumit Chair | OfficerTrustee | 1 | $0 |
Kit Cramer Secretary | Officer | 1 | $0 |
W Louis Bissette Board Member | Trustee | 1 | $0 |
Ben Hamrick Board Member | Trustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Trc Construction | 6/29/21 | $227,398 |
Tgs Engineers Engineers | 6/29/21 | $307,801 |
Wright Brothers Construction Construction | 6/29/21 | $4,005,417 |
Nc Department Of Transportation Construction | 6/29/21 | $400,000 |
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 | $5,835,855 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $5,835,855 |
Total Program Service Revenue | $634,554 |
Investment income | $1,380 |
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 | $6,471,789 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $457,962 |
Grants and other assistance to domestic individuals. | $4,200 |
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 | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
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 | $0 |
Office expenses | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $0 |
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 | $0 |
All other expenses | $0 |
Total functional expenses | $5,587,769 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,299,078 |
Savings and temporary cash investments | $11,389 |
Pledges and grants receivable | $1,165,725 |
Accounts receivable, net | $104,310 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $3,430 |
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 | $2,583,932 |
Accounts payable and accrued expenses | $7,189 |
Grants payable | $0 |
Deferred revenue | $1,165,724 |
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 | $69,100 |
Total liabilities | $1,242,013 |
Net assets without donor restrictions | $1,341,919 |
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 | $2,583,932 |
Over the last fiscal year, Asheville Area Chamber Of Commerce Community Betterment Foundation has awarded $457,962 in support to 3 organizations.
Grant Recipient | Amount |
---|---|
Asheville, NC PURPOSE: PROMOTE ECONOMIC DEVELOPMENT | $339,502 |
Asheville, NC PURPOSE: INCLUSIVE HIRING PARTNERS | $109,260 |
Asheville, NC PURPOSE: PEOPLE'S COMMUNITY AND INCLUSION INITIATIVE | $9,200 |
Over the last fiscal year, we have identified 2 grants that Asheville Area Chamber Of Commerce Community Betterment Foundation has recieved totaling $35,000.
Awarding Organization | Amount |
---|---|
The Community Foundation Of Western North Carolina Inc Asheville, NC PURPOSE: BUILDING COMMUNITY & ECONOMIC VITALITY | $27,500 |
The Duke Energy Foundation Charlotte, NC PURPOSE: VIBRANT ECONOMIES | $7,500 |
Organization Name | Assets | Revenue |
---|---|---|
Community Foundation Of Greenville Inc Greenville, SC | $110,749,055 | $32,278,412 |
Spartanburg County Foundation Spartanburg, SC | $213,613,348 | $29,550,562 |
North Georgia Community Foundation Gainesville, GA | $121,312,465 | $29,287,202 |
The Community Foundation Of Harrisonburg And Rockingham County Harrisonburg, VA | $68,152,988 | $23,085,179 |
Central Carolina Community Foundation Columbia, SC | $200,312,368 | $26,646,536 |
Community Foundation Of The Chattahoochee Valley Inc Columbus, GA | $203,858,921 | $35,593,899 |
High Point Community Foundation High Point, NC | $114,170,503 | $14,778,667 |
Community Foundation Of Central Georgia Inc Macon, GA | $156,226,670 | $20,534,365 |
Community Foundation For Northeast Georgia Inc Duluth, GA | $80,665,782 | $22,483,820 |
Community Foundation Of The Lowcountry Inc Hilton Head Island, SC | $73,666,667 | $27,497,262 |
The Community Foundation For Northern Virginia Inc Oakton, VA | $80,161,408 | $23,451,822 |
National Christian Charitable Foundation Inc Fort Mill, SC | $16,300,322 | $10,862,004 |