Cobb County Chamber Of Commerce Foundation Inc
- Assets
- $2.4m
- Revenue
- $564.9k
- Investments
- $0.0
- Employees
- 5
- Location
- Atlanta, GA
- Founding
- 12/1982
- Data as of
- 12/2022
- EIN
- 58-1492846
Organization Overview
Cobb County Chamber Of Commerce Foundation Inc is located in Atlanta, GA. The organization was established in 1982. 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, Cobb County Chamber Of Commerce Foundation Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cobb County Chamber Of Commerce Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Cobb County Chamber Of Commerce Foundation Inc generated $564.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (12.7%) each year. All expenses for the organization totaled $997.3k during the year ending 12/2022. 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
TO SUPPORT THE COBB COUNTY CHAMBER OF COMMERCE, INC. IN ACCOMPLISHING COMMUNITY DEVELOPMENT IN THE COBB COUNTY, GEORGIA AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COBB COUNTY CHAMBER OF COMMERCE FOUNDATION IS A CHARITABLE ORGANIZATION, WHICH IN THE DISCRETION OF THE BOARD OF DIRECTORS, WILL MOST EFFECTIVELY SERVE THE NEEDS AND INTERESTS OF THE COMMUNITY OF COBB COUNTY, GEORGIA AND ITS SURROUNDING AREAS THROUGH ITS SUPPORTING ROLE TO THE COBB COUNTY CHAMBER OF COMMERCE, INC.
LEADING BY EXAMPLE ALLOWS LEADERSHIP COBB PARTICIPANTS TO DIRECTLY IMPACT THE COBB COMMUNITY. FIFTY DIVERSE AND QUALIFIED INDIVIDUALS ARE SELECTED ANNUALLY TO PARTICIPATE IN THIS LEADERSHIP DEVELOPMENT PROGRAM. LEADERSHIP COBB ENHANCES PERSONAL AND PROFESSIONAL GROWTH WHILE PARTICIPANTS GAIN AWARENESS OF CURRENT ISSUES, COMMUNITY RESOURCES AND THE SOCIAL, POLITICAL AND ECONOMIC NEEDS OF THE COMMUNITY.
HONORARY COMMANDERS IS A COOPERATIVE EFFORT OF THE COBB CHAMBER OF COMMERCE, DOBBINS AIR RESERVE BASE (ARB), GENERAL LUCIUS D. CLAY NATIONAL GUARD CENTER, NAVY AND MARINE CORPS. THE HONORARY COMMANDERS ASSOCIATION ANNUALLY SELECTS COMMUNITY AND BUSINESS LEADERS AND PAIRS THEM WITH MILITARY COMMANDERS IN A YEAR LONG PROGRAM, GIVING THOSE LEADERS THE OPPORTUNITY TO LEARN MORE ABOUT LOCAL MILITARY ACTIVITIES, THEIR IMPACT ON OUR ECONOMY AND VARIOUS ASPECTS OF THE NATIONAL DEFENSE SYSTEM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sharon Mason Chamber President & CEO | Officer | 10 | $0 |
Michele Howard Evp, Leadership Dev. & Program | 20 | $0 | |
Terry Dewitt Foundation Board Chair | OfficerTrustee | 1 | $0 |
Jeff Fucito Treasurer | OfficerTrustee | 1 | $0 |
Britt Fleck Chamber Board Chair | OfficerTrustee | 1 | $0 |
Charlie Barnwell At-Large Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $78,080 |
| Related organizations | $0 |
| Government grants | $58,100 |
| All other contributions, gifts, grants, and similar amounts not included above | $416,607 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $552,787 |
| Total Program Service Revenue | $393,158 |
| Investment income | $30,665 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$407,650 |
| Net Income from Fundraising Events | -$4,097 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $564,863 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $94,000 |
| Grants and other assistance to domestic individuals. | $1,400 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $257,291 |
| Pension plan accruals and contributions | $19,006 |
| Other employee benefits | $18,079 |
| Payroll taxes | $19,450 |
| 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 | $0 |
| Advertising and promotion | $30,442 |
| Office expenses | $9,158 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $200,905 |
| Travel | $98,661 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $237,814 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $997,271 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $77,693 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $17,060 |
| 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 | $0 |
| Investments—publicly traded securities | $1,990,522 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $329,977 |
| Total assets | $2,415,252 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $96,510 |
| 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 | $96,510 |
| Net assets without donor restrictions | $2,306,742 |
| Net assets with donor restrictions | $12,000 |
| 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 | $2,415,252 |