Ocala-Marion County Chamber Of Commerce Inc
- Assets
- $1.8m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 22
- Location
- Ocala, FL
- Founding
- 06/1942
- Data as of
- 12/2021
- EIN
- 59-0345090
Organization Overview
Ocala-Marion County Chamber Of Commerce Inc is located in Ocala, FL. The organization was established in 1942. 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 12/2021, Ocala-Marion County Chamber Of Commerce Inc employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ocala-Marion 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 12/2021, Ocala-Marion County Chamber Of Commerce Inc generated $3.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.3% each year. All expenses for the organization totaled $2.7m during the year ending 12/2021. While expenses have increased by 6.3% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO BE A CATALYST FOR A PROSPEROUS COMMUNITY BY WORKING WITH MEMBERSHIP AND PROVIDING PROGRAMS THAT FOSTER ECONOMIC DEVELOPMENT AND IMPROVED QUALITY OF LIFE IN OCALA AND MARION COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BUSINESS CREATION - EFFORTS TO ATTRACT, GROW, AND GRADUATE EARLY STAGE COMPANIES IN A BUSINESS INCUBATOR ENVIRONMENT.
BUSINESS ATTRACTION - MARKETING THE OCALA/MARION COUNTY AREA'S ASSETS DIRECTLY TO COMPANY DECISION MAKERS AND KEY INFLUENCERS.
BUSINESS SERVICES - TO ENGAGE ALL PARTICIPANTS AND ENSURE THAT PARTNERS NEEDS ARE MET THROUGH STRUCTURED NETWORKING AND FORUMS, TALENT AND WORKFORCE DEVELOPMENT AND EDUCATIONAL OPPORTUNITIES.
BUSINESS ADOCACY AND RETENTION
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Sheilly President & | OfficerTrustee | 40 | $202,095 |
Ken Ausley Past Chairma | OfficerTrustee | 1.25 | $0 |
Chad Christianson Vice Chair | OfficerTrustee | 1.25 | $0 |
Douglas Cone At-Large | OfficerTrustee | 1.25 | $0 |
Dwayne Carlton Secretary | OfficerTrustee | 1.25 | $0 |
Ken Daley At-Large | OfficerTrustee | 1.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,358,731 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $511,588 |
| All other contributions, gifts, grants, and similar amounts not included above | $109,782 |
| Noncash contributions included in lines 1a–1f | $109,782 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,980,101 |
| Total Program Service Revenue | $1,044,884 |
| Investment income | $754 |
| 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 | $3,025,739 |
| 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. | $202,095 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,224,408 |
| Pension plan accruals and contributions | $37,223 |
| Other employee benefits | $156,610 |
| Payroll taxes | $97,649 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $17,137 |
| Advertising and promotion | $6,793 |
| Office expenses | $29,451 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $204,463 |
| Travel | $15,752 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,982 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $20,624 |
| Insurance | $11,473 |
| All other expenses | $9,695 |
| Total functional expenses | $2,654,951 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $482,288 |
| Savings and temporary cash investments | $624,572 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $344,848 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,050 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,484 |
| Net Land, buildings, and equipment | $372,661 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,830,903 |
| Accounts payable and accrued expenses | $60,434 |
| Grants payable | $0 |
| Deferred revenue | $389,992 |
| 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 | $92,517 |
| Total liabilities | $542,943 |
| 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 | $1,287,960 |
| Total liabilities and net assets/fund balances | $1,830,903 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Gwinnett Convention And Visitors Bureau Inc Duluth, GA | $29,610,598 | $21,705,089 |
Icamr Inc Neocity, FL | $16,807,579 | $18,482,877 |
Nassau-Paradise Island Promotion Board Ltd Plantation, FL | $7,848,897 | $14,831,769 |
Asian American Hotel Owners Association Atlanta, GA | $22,232,306 | $14,292,123 |
Osceola Convention And Visitors Bureau Inc Kissimmee, FL | $12,721,814 | $18,220,107 |
Panama City Beach Convention And Vistors Bureau Inc Panama City Beach, FL | $6,910,172 | $13,906,597 |
Florida Reliability Coordinating Council Tampa, FL | $10,138,227 | $13,874,923 |
Midtown Business Association Inc Atlanta, GA | $4,952,556 | $10,845,776 |
Corenet Global Inc Atlanta, GA | $22,405,208 | $10,074,155 |
Visit Pensacola Inc Pensacola, FL | $2,535,965 | $7,930,486 |
Allinial Global Lawrenceville, GA | $3,508,006 | $7,173,344 |
The Florida Restaurant & Lodging Association Inc Tallahassee, FL | $14,927,226 | $6,472,755 |