Albany Chamber Foundation Inc
- Assets
- $529.0k
- Revenue
- $51.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Albany, GA
- Founding
- 04/1989
- Data as of
- 12/2023
- EIN
- 58-1821204
Organization Overview
Albany Chamber Foundation Inc is located in Albany, GA. The organization was established in 1989. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Albany Chamber 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 12/2023, Albany Chamber Foundation Inc generated $51.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (16.3%) each year. All expenses for the organization totaled $119.9k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (9.0%) per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE AIMS AND PURPOSES OF THE ALBANY AREA CHAMBER FOUNDATION SHALL INCLUDE, BUT NOT BE LIMITED TO, THE ADVANCEMENT AND DIFFUSION OF KNOWLEDGE AND UNDERSTANDING OF ECONOMICS, MATTERS OF PUBLIC CONCERN, FINANCE, EDUCATION AND TRAINING, HOUSING, HUMAN RELATIONS, PROBLEMS OF MINORITY GROUPS, SCIENCE AND TECHNOLOGY, ECONOMIC PLANNING AND DEVELOPMENT, INTERNATIONAL RELATIONS, AND OTHER SUBJECTS RELATED TO IMPROVE EFFICIENCY, DEVELOPMENT, INTERNATIONAL RELATIONS AND OTHER SUBJECTS RELATED TO IMPROVE EFFICIENCY, DEVELOPMENT AND ACCELERATION OF BOTH THE QUALITY OF AND QUANTITY OF ECONOMIC GROWTH AND EMPLOYMENT OPPORTUNTITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSES FOR ENTREPRENEURIAL AND INNOVATION INITITATIVES INCLUDING "ALBANY- DOUGHERTY COUNTY WORKS TALENT DEVELOPMENT STRATEGY 2.0", "FLEX ABY" (ALBANY'S FIRST YOUTH ENTREPRENEURSIP COMPETITION), AND "PROPEL+" - A YOUTH TALENT DEVELOPMENT INITIATIVE THAT THROUGH CONNECTION NUTURES, PROVIDES FOR AND EMPOWERS ALBANY'S FEMALE YOUTH TO DESIGN THEIR PATHS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matt Reed Chair | OfficerTrustee | $0 | |
Don Gray First Vice-C | OfficerTrustee | $0 | |
Jeretha Peters Second Vice | OfficerTrustee | $0 | |
Jeff Wright Treasurer | OfficerTrustee | $0 | |
Barbara Rivera Holmes Secretary | OfficerTrustee | $0 | |
Brianna Wilson Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $15,145 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $25,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $40,145 |
| Total Program Service Revenue | $22,350 |
| Investment income | $13,347 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$24,848 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $50,994 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $77,508 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,702 |
| Fees for services: Other | $0 |
| Advertising and promotion | $10 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,102 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $281 |
| Total functional expenses | $119,892 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $16,176 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,545 |
| 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 | $4,348 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $501,953 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $529,022 |
| Accounts payable and accrued expenses | $25,002 |
| Grants payable | $0 |
| Deferred revenue | $21,920 |
| 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 | $46,922 |
| Net assets without donor restrictions | $258,084 |
| Net assets with donor restrictions | $224,016 |
| 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 | $529,022 |
Grants Awarded
Over the last fiscal year, Albany Chamber Foundation Inc has awarded $275,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ALBANY DOUGHERTY EDC PURPOSE: ECONOMIC DEVELOPMENT | $250,000 |
ALBANY STATE UNIVERSITY FOUNDATION PURPOSE: ASU BAND TRAVEL | $25,000 |