Ocala-Marion County Chamber Of Commerce Inc
- Assets
- $2.4m
- Revenue
- $3.8m
- Investments
- $0.0
- Employees
- 29
- Location
- Ocala, FL
- Founding
- 06/1942
- Data as of
- 12/2023
- 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 12/2023, Ocala-Marion County Chamber Of Commerce Inc employed 29 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 12/2023, Ocala-Marion County Chamber Of Commerce Inc generated $3.8m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 9.5% each year. All expenses for the organization totaled $3.7m during the year ending 12/2023. While expenses have increased by 10.1% per year over the past 5 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
2023
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 SERVICES - TO ENGAGE ALL PARTICIPANTS AND ENSURE THAT PARTNERS NEEDS ARE MET THROUGH STRATEGIC NETWORKING AND FORUMS, TALENT AND WORKFORCE DEVELOPMENT AND EDUCATIONAL OPPORTUNITIES.
BUSINESS ADVOCACY AND RETENTION
BUSINESS CREATION - EFFORTS TO ATTRACT, GROW AND GRADUATE EARLY STAGE COMPANIES IN A BUSINESS INCUBATOR ENVIRONMENT.
BUSINESS ATTRACTION - MARKETING THE OCALA/MARION COUNTY AREAS ASSETS DIRECTLY TO COMPANY DECISION MAKERS AND KEY INFLUENCERS
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 |
|---|---|---|---|
Chris Langley Chair | OfficerTrustee | 1.25 | $0 |
Charisse Rivers Vice Chair | OfficerTrustee | 1.25 | $0 |
Dwayne Carlton Secretary | OfficerTrustee | 1.25 | $0 |
Navroz Saju Treasurer | OfficerTrustee | 1.25 | $0 |
Angie Lewis Past Chair | OfficerTrustee | 1.25 | $0 |
Ken Ausley At Large | Trustee | 1.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,750,009 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $490,000 |
| 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 | $2,349,791 |
| Total Program Service Revenue | $1,441,201 |
| 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 | $3,790,992 |
| 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. | $251,516 |
| Compensation of current officers, directors, key employees. | $251,516 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,336,537 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,547 |
| Fees for services: Accounting | $15,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $38,338 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $25,100 |
| 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 | $20,184 |
| Insurance | $17,007 |
| All other expenses | $966,238 |
| Total functional expenses | $3,694,767 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,510,421 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $345,076 |
| 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 | $77,395 |
| Net Land, buildings, and equipment | $417,841 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,350,733 |
| Accounts payable and accrued expenses | $261,361 |
| Grants payable | $0 |
| Deferred revenue | $477,463 |
| 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 | $254,194 |
| Total liabilities | $993,018 |
| 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 | $1,357,715 |
| Total liabilities and net assets/fund balances | $2,350,733 |