Greater Florence Chamber Of Commerce
- Assets
- $435.0k
- Revenue
- $782.2k
- Investments
- $0.0
- Employees
- 7
- Location
- Florence, SC
- Founding
- 08/1945
- Data as of
- 06/2023
- EIN
- 57-0125625
Organization Overview
Greater Florence Chamber Of Commerce is located in Florence, SC. The organization was established in 1945. 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 06/2023, Greater Florence Chamber Of Commerce employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Florence 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 06/2023, Greater Florence Chamber Of Commerce generated $782.2k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $780.9k during the year ending 06/2023. While expenses have increased by 0.4% 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
TO PROVIDE THE NECESSARY LEADERSHIP TO PROMOTE AND ENHANCE THE BUSINESS CLIMATE AND QUALITY OF LIFE IN FLORENCE COUNTY AND THE PEE DEE REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED RESOURCES TO THE BUSINESS COMMUNITY OF THE PEE DEE REGION TO ENHANCE THE BUSINESS ENVIRONMENT AND ENCOURAGE ECONOMIC DEVELOPMENT IN THE REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Keith Buckhouse Chair, Budget & Finance | OfficerTrustee | 1 | $0 |
Jamie Carsten Treasurer | OfficerTrustee | 1 | $0 |
Diana Murphyeaddy Member | Trustee | 1 | $0 |
Mike Miller President | OfficerTrustee | 40 | $190,847 |
Robby Hill Member | Trustee | 1 | $0 |
Ed Hoffman Chair, Member Services | OfficerTrustee | 1 | $0 |
Financial Statements
| 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $763,343 |
| Investment income | $379 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $18,468 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $782,190 |
| 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. | $41,755 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $438,686 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $30,688 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,395 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,719 |
| Office expenses | $20,121 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,916 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,193 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $72,041 |
| All other expenses | $59,103 |
| Total functional expenses | $780,931 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $112,883 |
| Savings and temporary cash investments | $299,817 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $22,349 |
| 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 | $435,049 |
| Accounts payable and accrued expenses | $39,193 |
| Grants payable | $0 |
| Deferred revenue | $37,824 |
| 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 | $77,017 |
| Net assets without donor restrictions | $358,032 |
| 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 | $435,049 |