Lake Wylie Chamber of Commerce Inc
- Assets
- $706.4k
- Revenue
- $270.0k
- Investments
- $0.0
- Employees
- 1
- Location
- Lake Wylie, SC
- Founding
- Data as of
- 10/2022
- EIN
- 57-0710924
Organization Overview
Lake Wylie Chamber of Commerce Inc, operating under the name Lake Wylie Chamber of Commerce, is located in Lake Wylie, SC. Lake Wylie 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 10/2022, Lake Wylie Chamber of Commerce generated $270.0k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $172.5k during the year ending 10/2022. 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
PROMOTE BUSINESSES IN LOCAL AREA AND SUPPORT THE COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHAMBER EVENTS TO PROMOTE LOCAL BUSINESS AND ECONOMY
PROVIDE VISITOR CENTER POINT OF ENTRY FOR NEW POTENTIAL RESIDENTS IN THE COMMUNITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Bromfield President | Officer | 40 | $82,674 |
Charles Wood Past Chairman | OfficerTrustee | 0 | $0 |
Kim Conroy Board Member | OfficerTrustee | 0 | $0 |
Donna Bordeaux Secretary | OfficerTrustee | 0.5 | $0 |
Michaelyn Sherrill Treasurer | OfficerTrustee | 0.5 | $0 |
Jane Dubois Board Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $116,282 |
| 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 | $116,282 |
| Total Program Service Revenue | $100,555 |
| Investment income | $196 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $29,700 |
| 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 | $270,024 |
| 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. | $82,073 |
| Compensation of current officers, directors, key employees. | $82,073 |
| Compensation to disqualified persons | $1,617 |
| Other salaries and wages | $1,617 |
| Pension plan accruals and contributions | $11,239 |
| Other employee benefits | $6,758 |
| Payroll taxes | $6,358 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,225 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $17,392 |
| Insurance | $0 |
| All other expenses | $23,927 |
| Total functional expenses | $172,473 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $286,612 |
| Savings and temporary cash investments | $5,082 |
| 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 | $0 |
| Net Land, buildings, and equipment | $414,722 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $706,416 |
| Accounts payable and accrued expenses | $252 |
| 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 | $333,897 |
| Total liabilities | $334,149 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $372,267 |
| Total liabilities and net assets/fund balances | $706,416 |
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