Arkansas State Chamber Of Commerce Foundation Inc
- Assets
- $229.4k
- Revenue
- $341.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Little Rock, AR
- Founding
- 07/1990
- Data as of
- 12/2022
- EIN
- 58-1890928
Organization Overview
Arkansas State Chamber Of Commerce Foundation Inc is located in Little Rock, AR. The organization was established in 1990. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Arkansas State 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, Arkansas State Chamber Of Commerce Foundation Inc generated $341.0k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 68.1% each year . All expenses for the organization totaled $342.4k during the year ending 12/2022. While expenses have increased by 12.1% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF THE ARKANSAS STATE CHAMBER OF COMMERCE FOUNDATION IS TO SERVE AS THE POLICY DEVELOPMENT AND EDUCATIONAL ARM OF THE CHAMBER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION TO EMPLOYER INITIATIVE ENGAGES STATE BUSINESS AND INDUSTRY PARTNERS AND COMMUNICATES THEIR WORKFORCE NEEDS TO EDUCATION LEADERS IN ARKANSAS, WHILE CREATING A SEAMLES TRANSITION BETWEEN HIGH SCHOOL, POST-SECONDARY EDUCATION AND THE WORKFORCE.
TOGETHER ARKANSAS PROVIDES EMPLOYERS WITH AN ONLINE TOOLKIT OF RESOURCES THEY CAN USE, FREE OF CHARGE, TO HELP THEM PREPARE, PREVENT AND RESPOND TO THE OPIOID-USE DISORDER CRISIS.
LEADERSHIP ARKANSAS PROVIDES SCHOLARSHIPS TO SELEVTED INDIVIDUALS. LEADERSHIP ARKANSAS IS A UNIQUE PROGRAM, FIRST INTRODUCED IN 2005, DESIGNED TO TAKE A COMPREHENSIVE VIEW OF THE ECONOMIC AND POLITICAL CHALLENGES THAT FACE THIS STATE. THROUGH SHARED EXPERIENCES AND FREQUENT INTERACTIONS, LEADERSHIP ARKANSAS PARTICIPANTS, FACILITATORS AND ALUMNI LEARN AND GROW AS THEY ADVANCE THROUGH AN INNOVATIVE NINE MONTH PROGRAM DESIGNED TO EXPOSE CLASS MEMBERS TO THE CHALLENGES AND OPPORTUNITIES OF OUR LOCAL COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randy Zook President | OfficerTrustee | 0.1 | $0 |
Kenny Hall Secretary | OfficerTrustee | 0.1 | $0 |
Bradley Hardin Board Member | Trustee | 0.1 | $0 |
Gary Head Treasurer | OfficerTrustee | 0.1 | $0 |
Mindy West Board Member | Trustee | 0.1 | $0 |
Ray Dillon Chairman | OfficerTrustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $341,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $341,000 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $341,000 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,000 |
| 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 | $111,500 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $185,570 |
| Advertising and promotion | $3,565 |
| Office expenses | $1,594 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $342,353 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $229,363 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $229,363 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $229,363 |
| 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 | $229,363 |
Grants Awarded
Over the last fiscal year, Arkansas State Chamber Of Commerce Foundation Inc has awarded $27,861 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ECONOMIC LEADERSHIP PURPOSE: FURTHER EXEMPT PURPOSE | $21,361 |
AMERICAN LEGISLATIVE EXCHANGE COUNCIL PURPOSE: FURTHER EXEMPT PURPOSE | $6,500 |