Kentucky Chamber Of Commerce Inc
- Assets
- $9.5m
- Revenue
- $9.0m
- Investments
- $0.0
- Employees
- 47
- Location
- Frankfort, KY
- Founding
- 12/1947
- Data as of
- 09/2021
- EIN
- 61-0405718
Organization Overview
Kentucky Chamber Of Commerce Inc is located in Frankfort, KY. The organization was established in 1947. 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 09/2021, Kentucky Chamber Of Commerce Inc employed 47 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kentucky 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 09/2021, Kentucky Chamber Of Commerce Inc generated $9.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $7.4m during the year ending 09/2021. While expenses have increased by 2.4% per year over the past 6 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
CREATE AND SUPPORT A COMPETITIVE BUSINESS CLIMATE IN KENTUCKY THROUGH ADVOCACY, EDUCATION, INFORMATION, AND SERVICES IN ORDER TO PROMOTE BUSINESS RETENTION AND RECRUITMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEMINARS & MEETINGS - TOPICS INCLUDE OSHA COMPLIANCE, REDUCING WORKERS' COMP COSTS, TAX LAW COMPLIANCE, ENVIRONMENTAL LAW, HUMAN RESOURCE LAW, ETC.
PUBLICATIONS - PUBLICATIONS FOR SALE INCLUDING STATE AND FEDERAL LABOR LAWS AND REGULATIONS, BUSINESS PLANNING AND MARKETING, ENVIRONMENTAL ISSUES, HUMAN RESOURCES.
MEMBERSHIP - SOLICITS NEW MEMBERS AND OFFERS CUSTOMER SERVICE TO EXISTING MEMBERS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Central Holidays Travel Services | 9/29/18 | $168,459 |
Taylor-gray Associates Advertisement/media Relations | 9/29/18 | $104,960 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $28,475 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $640,260 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $668,735 |
| Total Program Service Revenue | $7,222,910 |
| Investment income | $6,364 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $971,170 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $18,443 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,027,627 |
| 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. | $1,072,452 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,516,117 |
| Pension plan accruals and contributions | $185,797 |
| Other employee benefits | $515,065 |
| Payroll taxes | $271,916 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $53,581 |
| Fees for services: Accounting | $107,035 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $503,954 |
| Advertising and promotion | $153,406 |
| Office expenses | $328,388 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $183,400 |
| Travel | $123,121 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $607,057 |
| Interest | $43,816 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $213,601 |
| Insurance | $0 |
| All other expenses | $17,898 |
| Total functional expenses | $7,376,894 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $215 |
| Savings and temporary cash investments | $4,087,573 |
| Pledges and grants receivable | $652,075 |
| Accounts receivable, net | $488,748 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $15,015 |
| Prepaid expenses and deferred charges | $69,981 |
| Net Land, buildings, and equipment | $4,178,653 |
| Investments—publicly traded securities | $24,166 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,516,426 |
| Accounts payable and accrued expenses | $688,461 |
| Grants payable | $0 |
| Deferred revenue | $2,491,194 |
| 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 | $1,768,063 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $4,947,718 |
| Net assets without donor restrictions | $3,895,802 |
| Net assets with donor restrictions | $672,906 |
| 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 | $9,516,426 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Kentucky Chamber Of Commerce Inc has recieved totaling $40,250.
| Awarding Organization | Amount |
|---|---|
Delta Dental Of Kentucky Inc Louisville, KY PURPOSE: SUPPORT GENERAL MISSION | $30,850 |
St Elizabeth Medical Center Inc Edgewood, KY PURPOSE: Program Support | $9,400 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Association Of Orthopaedic Surgeons Of America Rosemont, IL | $21,165,468 | $24,653,127 |
Amt-The Association For Manufacturing Technology Mclean, VA | $46,538,427 | $7,983,774 |
Nashville Convention & Visitors Bureau Nashville, TN | $15,667,602 | $21,623,147 |
St John Building Corporation St Louis, MO | $229,726,241 | $17,258,959 |
Appraisal Institute Chicago, IL | $29,125,581 | $19,187,200 |
Responsible Business Alliance Inc Alexandria, VA | $17,217,182 | $20,384,843 |
Asis International Inc Alexandria, VA | $27,323,586 | $13,144,142 |
National Institute For Automotive Service Exellence Leesburg, VA | $25,163,895 | $18,755,834 |
American Massage Therapy Assn Evanston, IL | $43,659,958 | $20,082,192 |
Portland Cement Association Alexandria, VA | $21,852,055 | $18,216,465 |
American College Of Radiology Association Reston, VA | $28,168,186 | $16,951,008 |
Aerospace Industries Association Of America Inc Arlington, VA | $34,239,387 | $18,520,879 |