Beaufort Regional Chamber Of Commerce is located in Beaufort, SC. The organization was established in 1978. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2024, Beaufort Regional Chamber Of Commerce employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Beaufort Regional 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 06/2024, Beaufort Regional Chamber Of Commerce generated $664.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (12.3%) each year. All expenses for the organization totaled $552.7k during the year ending 06/2024. As we would expect to see with falling revenues, expenses have declined by (14.7%) per year over the past 6 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE BEAUFORT REGIONAL CHAMBER OF COMMERCE EXISTS TO PROMOTE ECONOMIC PROSPERITY TO ENHANCE THE WELL-BEING OF EVERYONE IN OUR REGION. WE ENVISION A THRIVING REGION BASED ON A RESILIENT ECONOMY, TODAY AND FOR FUTURE GENERATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CHAMBER EXISTS TO PROMOTE ECONOMIC PROSPERITY TO ENHANCE THE WELL-BEING OF EVERYONE IN OUR REGION BY:1) SUPPORTING LOCAL BUSINESSES BY PROVIDING ADVOCACY, INFORMATION, AND CONNECTIONS, TO HELP MEMBERS BE SUCCESSFUL AND PROFITABLE: A) ADVOCACY: I) ACTIONABLE PUBLIC POLICY AGENDA TO IMPROVE THE REGION'S BUSINESS CLIMATE. II) CONSISTENT DIALOG WITH LOCAL, STATE, AND FEDERAL ELECTED OFFICIALS TO ADVOCATE FOR BUSINESSES. B) INFORMATION: I) MULTICHANNEL COMMUNICATIONS WITH CURATED NEWS, PERSPECTIVES, RESOURCES, AND PROMOTION OPPORTUNITIES. II) SEMINARS WITH INNOVATIVE THINKERS AND BEST PRACTICE LEADERS. C) CONNECTIONS: I) FREQUENT, WELL-ORGANIZED OPPORTUNITIES TO INTERACT WITH OTHER BUSINESS LEADERS. II) UNIQUE WAYS TO REACH TARGET CUSTOMERS.2) GROWING THE ECONOMY BY WORKING WITH PARTNERS TO PROMOTE GROWING ECONOMIC SECTORS AND STRENGTHEN EXISTING ECONOMIC PILLARS SUCH AS DEFENSE AND TOURISM: A) PARTNERSHIPS: I) ESTABLISH PARTNERSHIPS WITH ALLIED ORGANIZATIONS WORKING TO PROMOTE ECONOMIC GROWTH. II) USE ADVOCACY, CONVENING, AND COMMUNICATION STRENGTHS TO ADVANCE PARTNER'S MISSIONS. B) SECTORS: I) CONVENE MEMBER BUSINESSES BY ECONOMIC SECTOR TO ASSESS NEEDS AND EXPLORE OPPORTUNITIES. II) ORGANIZE WORK GROUPS AND SHARE ECONOMIC/EMPLOYMENT DATA TO ADVANCE KEY SECTORS. C) MILITARY: I) ADVOCATE FOR POLICIES, PROGRAMS, AND INVESTMENTS NEEDED TO SECURE THE REGION'S EXISTING MILITARY MISSIONS. II) IDENTIFY AND PROMOTE OPPORTUNITIES TO ATTRACT COMPLEMENTARY MISSIONS BY BUILDING ON CURRENT ASSETS. D) KEY ECONOMIC SECTORS: I) MILITARY/DEFENSE II) HOSPITALITY III)REAL ESTATE IV) MANUFACTURING V) HEALTH CARE VI) TECHNOLOGY3) BUILDING LEADERSHIP CAPACITY BY MOBILIZING THE BOARD, CONDUCTING RESEARCH, LEVERAGING COMMUNICATIONS AND PROGRAMS, AND GROWING THE MEMBERSHIP TO ENHANCE THE CHAMBER'S INFLUENCE AND CAPACITY: A) VISION: I) USE CONVENING POWER OF THE CHAMBER BOARD TO ENGAGE WITH REGIONAL LEADERS FROM OTHER SECTORS. II) ENGAGE CHAMBER MEMBERS IN FUTURE VISIONING THROUGH EVENTS AND SURVEYS. B) INSIGHT: I) TRACK AND REPORT ON KEY REGIONAL ECONOMIC, WORKFORCE, AND DEMOGRAPHIC DATA. II) PUBLISH REPORTS, RELEASE OP-EDS, AND OFFER COMMENTARY ABOUT SIGNIFICANT REGIONAL ISSUES. C) ORGANIZATION: I) GROW MEMBERSHIP AND REVENUE BY ATTRACTING NEW MEMBERS AND UPGRADE EXISTING MEMBERS. II) DEEPEN MEMBER ENGAGEMENT IN STRATEGIC WORK AREAS.
OUR MISSION IS TO MANAGE AND BUILD CAPACITY FOR CONTINUAL COMMUNITY GROWTH BY ADVOCATING FOR A PRO-BUSINESS ENVIRONMENT AND BUILDING WORKFORCE TO ENRICH THE REGION'S QUALITY OF LIFE. THE CHAMBER IS A MEMBERSHIP BASED ORGANIZATION WHOSE PURPOSE IS TO ADVANCE THE GENERAL WELFARE AND PROSPERITY OF THE BEAUFORT, SC REGION SO THAT THE BUSINESS COMMUNITY WILL PROSPER.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Russell Baxley Director | Trustee | 2 | $0 |
Nick Mesenburg Chair Elect | OfficerTrustee | 2 | $0 |
Jennifer Tuckwiller Past Chair | OfficerTrustee | 2 | $0 |
Liz Mitchum Treasurer | OfficerTrustee | 2 | $0 |
Graham Somerall Chair | OfficerTrustee | 2 | $0 |
Russell Baxley Director | Trustee | 2 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $349,678 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $130,000 |
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 | $479,678 |
Total Program Service Revenue | $174,256 |
Investment income | $5,084 |
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 | $664,944 |
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. | $94,460 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $151,092 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $7,899 |
Payroll taxes | $19,127 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $6,850 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $500 |
Advertising and promotion | $0 |
Office expenses | $10,349 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $28,680 |
Travel | $16,478 |
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 | $1,309 |
Insurance | $7,806 |
All other expenses | $64,731 |
Total functional expenses | $552,652 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $397,825 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $0 |
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 | $8,197 |
Net Land, buildings, and equipment | $4,022 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $410,044 |
Accounts payable and accrued expenses | $27,575 |
Grants payable | $0 |
Deferred revenue | $203,369 |
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 | $230,944 |
Net assets without donor restrictions | $33,216 |
Net assets with donor restrictions | $145,884 |
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 | $410,044 |