Kentucky Chamber Of Commerce Inc
- Assets
- $11.8m
- Revenue
- $11.9m
- Investments
- $0.0
- Employees
- 58
- Location
- Frankfort, KY
- Founding
- 12/1947
- Data as of
- 09/2023
- 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 09/2023, Kentucky Chamber Of Commerce Inc employed 58 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 09/2023, Kentucky Chamber Of Commerce Inc generated $11.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.8% each year. All expenses for the organization totaled $10.9m during the year ending 09/2023. While expenses have increased by 6.9% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
CREATE AND SUPPORT A COMPETITVE 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, AND HUMAN RESOURCES.
MEMBERSHIP - SOLICITS NEW MEMBERS AND OFFERS CUSTOMER SERVICE TO EXISTING MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed President/ceo | OfficerTrustee | 38 | $398,712 |
Name Not Listed Chair-Elect | OfficerTrustee | 1 | $0 |
Name Not Listed Immediate Past Chair | OfficerTrustee | 1 | $0 |
Name Not Listed Vice Chair, Membership & Business Services | OfficerTrustee | 1 | $0 |
Name Not Listed Vice Chair, Administration | OfficerTrustee | 1 | $0 |
Name Not Listed Chair | OfficerTrustee | 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 | $0 |
| Related organizations | $80,000 |
| Government grants | $65,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,397,437 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,542,437 |
| Total Program Service Revenue | $8,717,443 |
| Investment income | $3,275 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $1,576,070 |
| Net Rental Income | $30,500 |
| 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 | $11,900,673 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $273,129 |
| 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. | $1,174,349 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,025,741 |
| Pension plan accruals and contributions | $209,167 |
| Other employee benefits | $197,821 |
| Payroll taxes | $337,847 |
| 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 | $430,016 |
| Advertising and promotion | $183,284 |
| Office expenses | $528,065 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $260,094 |
| Travel | $132,786 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,215,737 |
| Interest | $41,085 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $272,673 |
| Insurance | $49,369 |
| All other expenses | $48,503 |
| Total functional expenses | $10,920,509 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $320 |
| Savings and temporary cash investments | $1,854,265 |
| Pledges and grants receivable | $306,199 |
| Accounts receivable, net | $696,398 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $21,903 |
| Prepaid expenses and deferred charges | $726,538 |
| Net Land, buildings, and equipment | $5,122,012 |
| Investments—publicly traded securities | $3,044,670 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,772,305 |
| Accounts payable and accrued expenses | $852,638 |
| Grants payable | $0 |
| Deferred revenue | $2,573,874 |
| 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 | $877,341 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $4,303,853 |
| Net assets without donor restrictions | $6,920,481 |
| Net assets with donor restrictions | $547,971 |
| 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 | $11,772,305 |