Highpoint International Home Furnis Hings Market Authority Corp
- Assets
- $6.4m
- Revenue
- $7.5m
- Investments
- $0.0
- Employees
- 55
- Location
- High Point, NC
- Founding
- 10/2001
- Data as of
- 06/2021
- EIN
- 56-2264074
Organization Overview
Highpoint International Home Furnis Hings Market Authority Corp is located in High Point, NC. The organization was established in 2001. 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 06/2021, Highpoint International Home Furnis Hings Market Authority Corp employed 55 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Highpoint International Home Furnis Hings Market Authority Corp 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 06/2021, Highpoint International Home Furnis Hings Market Authority Corp generated $7.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $7.2m during the year ending 06/2021. While expenses have increased by 2.5% 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
PROMOTE AND FACILITATE INTERNATIONAL HOME FURNISHINGS MARKET IN HIGH POINT NC
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ACTIVITIES OF HIGH POINT INTERNATIONAL HOME FURNISHINGS MARKET AUTHORITY ARE FOCUSED ON KEEPING THE SEMI-ANNUAL FURNITURE MARKETS VIABLE AND ON PROVIDING A SATISFYING EXPERIENCE TO ALL MARKET PARTICIPANTS. TOWARD THESE ENDS, THE AUTHORITY COORDINATES THE LOGISTICS NECESSARY TO INSURE THAT MARKET RUNS SMOOTHLY AND EFFICIENTLY; PROVIDES COMPREHENSIVE AND HELPFUL INFORMATION ABOUT MARKET; AND ACTIVELY PROMOTES MARKET IN ORDER TO ENHANCE ATTENDANCE.
THE ACTIVITIES OF HIGH POINT INTERNATIONAL HOME FURNISHINGS MARKET AUTHORITY ARE FOCUSED ON KEEPING THE SEMI-ANNUAL FURNITURE MARKETS VIABLE AND ON PROVIDING A SATISFYING EXPERIENCE TO ALL MARKET PARTICIPANTS. TOWARD THESE ENDS, THE AUTHORITY COORDINATES THE LOGISTICS NECESSARY TO INSURE THAT MARKET RUNS SMOOTHLY AND EFFICIENTLY; PROVIDES COMPREHENSIVE AND HELPFUL INFORMATION ABOUT MARKET; AND ACTIVELY PROMOTES MARKET IN ORDER TO ENHANCE ATTENDANCE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Conley President/corporate Sec | Officer | 40 | $155,991 |
Tammy Nagem COO | Officer | 40 | $96,950 |
Doug Bassett Director/chair Government | OfficerTrustee | 1 | $0 |
Jeff Scheffer Immediate Past Chair | OfficerTrustee | 1 | $0 |
Scott Eckman Treasurer/director | OfficerTrustee | 1 | $0 |
William Dudley Moore Jr Chairman | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,100,073 |
| Investment income | $12,785 |
| 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 | $7,467,309 |
| Statement of Expenses | |
|---|---|
| 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. | $252,941 |
| Compensation to disqualified persons | $1,306,855 |
| 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 | $70,635 |
| Fees for services: Lobbying | $59,514 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $18,279 |
| Information technology | $469,131 |
| Royalties | $0 |
| Occupancy | $68,300 |
| Travel | $84,225 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $216 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $185,537 |
| Insurance | $12,470 |
| All other expenses | $0 |
| Total functional expenses | $7,184,580 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $677,725 |
| Savings and temporary cash investments | $3,881,794 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $842,511 |
| 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 | $277,872 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,874 |
| Total assets | $6,441,488 |
| Accounts payable and accrued expenses | $441,608 |
| Grants payable | $0 |
| Deferred revenue | $104,894 |
| 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 | $5,702 |
| Total liabilities | $552,204 |
| 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 |
| Total liabilities and net assets/fund balances | $5,889,284 |
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