Covington-Newton County Chamber Of Commerce Inc
- Assets
- $832.7k
- Revenue
- $508.8k
- Investments
- $0.0
- Employees
- 5
- Location
- Covington, GA
- Founding
- 02/1963
- Data as of
- 06/2022
- EIN
- 58-0899717
Organization Overview
Covington-Newton County Chamber Of Commerce Inc is located in Covington, GA. The organization was established in 1963. 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 06/2022, Covington-Newton County Chamber Of Commerce Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Covington-Newton County Chamber Of Commerce Inc 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 06/2022, Covington-Newton County Chamber Of Commerce Inc generated $508.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (13.4%) each year. All expenses for the organization totaled $504.7k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (13.1%) per year over the past 7 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
THE NEWTON CHAMBER OF COMMERCE WILL BE A CATALYST FOR BUSINESS GROWTH, AN ADVOCATE FOR BUSINESSES AMONG OUR COMMUNITY PARTNERS, AND A CHAMPION FOR A QUALITY OF LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO IMPROVE INDUSTRIAL GROWTH AND OTHER ECONOMIC GROWTH WHILE SEEKING TO IMPROVE ECONOMIC AND GENERAL CONDITIONS IN THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Kent Chair | OfficerTrustee | 2 | $0 |
Hunter Hall Immediate Past Chair | OfficerTrustee | 2 | $0 |
Tessa Nolan Finance Chair | OfficerTrustee | 2 | $0 |
Jay Bailey Chair Elect | Trustee | 2 | $0 |
Ted Cummings Director | Trustee | 2 | $0 |
Joe Decocco Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $94,708 |
| 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 | $94,708 |
| Total Program Service Revenue | $383,091 |
| Investment income | $743 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $12,678 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $17,596 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $508,816 |
| 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. | $89,750 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $129,134 |
| Pension plan accruals and contributions | $5,602 |
| Other employee benefits | $16,677 |
| Payroll taxes | $17,574 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $22,197 |
| Advertising and promotion | $56,743 |
| Office expenses | $38,093 |
| Information technology | $5,937 |
| Royalties | $0 |
| Occupancy | $25,914 |
| Travel | $786 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,153 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $25,295 |
| Insurance | $6,728 |
| All other expenses | $0 |
| Total functional expenses | $504,708 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $591,553 |
| Savings and temporary cash investments | $165,940 |
| 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 | $695 |
| Net Land, buildings, and equipment | $74,538 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $832,726 |
| Accounts payable and accrued expenses | $0 |
| 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 | $3,262 |
| Total liabilities | $3,262 |
| Net assets without donor restrictions | $829,464 |
| 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 | $832,726 |