Cherokee County Chamber Of Commerce
- Assets
- $149.0k
- Revenue
- $152.2k
- Investments
- $0.0
- Employees
- 3
- Location
- Gaffney, SC
- Founding
- 08/1987
- Data as of
- 12/2022
- EIN
- 57-0288311
Organization Overview
Cherokee County Chamber Of Commerce is located in Gaffney, SC. The organization was established in 1987. 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 12/2022, Cherokee County Chamber Of Commerce employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cherokee County 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 12/2022, Cherokee County Chamber Of Commerce generated $152.2k in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $150.9k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (3.3%) per year over the past 5 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
COMMUNITY BUSINESS PROMOTIONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE BUSINESS WITHIN THE COMMUNITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Destiny Duffie Secretary | Officer | 0 | $0 |
Julie Press Treasurer | Officer | 0 | $0 |
Matt Davis President | Officer | 0 | $0 |
Summer Parker Vice President | Officer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $63,240 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $49,911 |
| 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 | $113,151 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $39,021 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $152,172 |
| 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. | $54,175 |
| Compensation of current officers, directors, key employees. | $13,544 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $44,071 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,497 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,577 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,362 |
| Office expenses | $8,195 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,504 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,117 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,166 |
| Insurance | $6,464 |
| All other expenses | $0 |
| Total functional expenses | $150,917 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $108,066 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,694 |
| 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 | $2,118 |
| Net Land, buildings, and equipment | $24,144 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $149,022 |
| Accounts payable and accrued expenses | $4,241 |
| 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 | $4,241 |
| Net assets without donor restrictions | $96,281 |
| Net assets with donor restrictions | $48,500 |
| 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 | $149,022 |