Greater Lexington Chamber Of Commerce
- Assets
- $1.8m
- Revenue
- $884.8k
- Investments
- $0.0
- Employees
- 8
- Location
- Lexington, SC
- Founding
- 08/1988
- Data as of
- 06/2021
- EIN
- 57-0388041
Organization Overview
Greater Lexington Chamber Of Commerce is located in Lexington, SC. The organization was established in 1988. 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, Greater Lexington Chamber Of Commerce employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Lexington 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 06/2021, Greater Lexington Chamber Of Commerce generated $884.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $829.5k during the year ending 06/2021. While expenses have increased by 4.5% 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
SERVES AS AN ADVOCATE FOR BUSINESS BY FOSTERING ECONOMIC GROWTH AND PROSPERITY FOR THE BENEFIT OF THE LEXINGTON COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHAMBER PROGRAMS INCLUDING BREAKFAST MEETINGS, BUSINESS EXPO AND CHAMBER AWARDS
SPRING AND FALL GOLF TOURNAMENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Otis Rawl President & CEO (until 8/2020) | Officer | 40 | $73,563 |
Melanie Lybrand Financial & Operations Mgr | Officer | 40 | $64,169 |
Angelle Laborde President & CEO | Officer | 40 | $51,667 |
Mike White Chair Elect | OfficerTrustee | 0.5 | $0 |
Angela Klosterman Chair | OfficerTrustee | 0.5 | $0 |
Shawn Stinson Secretary | OfficerTrustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $93,593 |
| Investment income | $3,607 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $36,435 |
| 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 | $3,630 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $884,821 |
| 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. | $193,411 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $121,891 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $62,171 |
| Payroll taxes | $145,165 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $25,865 |
| Advertising and promotion | $20,769 |
| Office expenses | $5,373 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $8,901 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $84,198 |
| Interest | $7,717 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $52,718 |
| Insurance | $4,492 |
| All other expenses | $0 |
| Total functional expenses | $829,520 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $703,178 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $19,660 |
| 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 | $29,981 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,770,029 |
| Accounts payable and accrued expenses | $5,272 |
| Grants payable | $0 |
| Deferred revenue | $448,473 |
| 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 | $288,353 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $13,265 |
| Total liabilities | $755,363 |
| 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 | $1,014,666 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Greater Lexington Chamber Of Commerce has recieved totaling $17,000.
| Awarding Organization | Amount |
|---|---|
Prisma Health Greenville, SC PURPOSE: OPERATIONAL/COMMUNITY ENGAGEMENT | $17,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
North American Electric Reliabilitycorporation Atlanta, GA | $65,227,333 | $81,782,902 |
Gsma Ltd Atlanta, GA | $262,728,803 | $123,320,595 |
Srcco Inc Durham, NC | $42,497,453 | $49,465,239 |
Southern Motor Carriers Association Inc Peachtree City, GA | $87,365,051 | $35,375,343 |
Unc Management Company Inc Chapel Hill, NC | $53,097,067 | $30,528,524 |
Serc Reliability Corporation Charlotte, NC | $16,241,101 | $25,718,150 |
American Society Of Heating Refrigerating & A-C Engineers Peachtree Corners, GA | $58,779,760 | $22,960,689 |
Motor & Equipment Manufacturers Association Research Triangle Park, NC | $37,966,318 | $17,239,678 |
Gwinnett Convention And Visitors Bureau Inc Duluth, GA | $29,610,598 | $21,705,089 |
Asian American Hotel Owners Association Atlanta, GA | $22,232,306 | $14,292,123 |
Catapult Employers Association Inc Charlotte, NC | $29,062,151 | $11,591,592 |
Material Handling Industry Charlotte, NC | $47,683,626 | $9,373,813 |