Louisville Chamber Of Commerce Inc
- Assets
- $5.0m
- Revenue
- $5.5m
- Investments
- $0.0
- Employees
- 42
- Location
- Louisville, KY
- Founding
- 05/1951
- Data as of
- 12/2022
- EIN
- 61-0434089
Organization Overview
Louisville Chamber Of Commerce Inc, operating under the name Greater Louisville Inc, is located in Louisville, KY. The organization was established in 1951. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Greater Louisville Inc employed 42 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Louisville 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 12/2022, Greater Louisville Inc generated $5.5m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $5.3m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.8%) per year over the past 8 years. 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
ACCELERATE ECONOMIC GROWTH, JOB CREATION AND BUSINESS COMPETITIVENESS IN THE GREATER LOUISVILLE REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CHAMBER PROVIDES ITS MEMBERS AND THE COMMUNITY WITH MEMBERSHIP, EVENTS AND MEETINGS, ADVOCACY, RESOURCES AND PUBLICATIONS, BUSINESS NETWORKING, COST SAVINGS PROGRAMS AND SMALL BUSINESS RESOURCES.
THE CHAMBER PROVIDES ECONOMIC GROWTH ASSISTANCE TO ITSMEMBERS AND THE COMMUNITY, INCLUDING BUSINESS ATTRACTION, TALENT ATTRACTION, WORKFORCE DEVELOPMENT, EDUCATIONAL ATTAINMENT, REGIONAL STATISTICS AND INDUSTRY SPECIFIC NETWORKS.
THE CHAMBER PROVIDES ENTERPRISE DEVELOPMENT ASSISTANCE TO ITS MEMBERS AND THE COMMUNITY, INCLUDING MWBE AND SMALL BUSINESS ASSISTANCE, TECHNOLOGY COMMERCIALIZATION, PRIVATE EQUITY FUNDING SOURCES, BUSINESS NETWORKING AND EDUCATAIONAL PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Purna Veer Board Member - Chairman | OfficerTrustee | 3 | $0 |
Theresa Canaday Board Member - Secretary And Legal Counsel | OfficerTrustee | 3 | $0 |
Russell Cox Board Member - Chairman Elect | OfficerTrustee | 3 | $0 |
Bradley Smith Board Member - Treasurer | OfficerTrustee | 3 | $0 |
Cliff Ashburner Board Member | Trustee | 1 | $0 |
Tawana Bain Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Teconomy Partners Llc Strategic Plan And Technology Ecosystem | 12/30/19 | $228,550 |
Mccarthy Strategic Solutions Llc Government Relations Service | 12/30/19 | $111,420 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,397,313 |
| Fundraising events | $0 |
| Related organizations | $117,200 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,601,790 |
| Noncash contributions included in lines 1a–1f | $89,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,116,303 |
| Total Program Service Revenue | $1,132,605 |
| Investment income | $36,896 |
| 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 | $5,473,509 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $9,933 |
| 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. | $488,487 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $2,345,049 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $73,892 |
| Other employee benefits | $102,221 |
| Payroll taxes | $188,901 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,337 |
| Fees for services: Accounting | $56,091 |
| Fees for services: Lobbying | $78,015 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $234,189 |
| Advertising and promotion | $38,903 |
| Office expenses | $8,884 |
| Information technology | $89,132 |
| Royalties | $0 |
| Occupancy | $505,343 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $20,450 |
| Interest | $141 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $63,042 |
| Insurance | $24,775 |
| All other expenses | $201,046 |
| Total functional expenses | $5,313,836 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $349,961 |
| Savings and temporary cash investments | $4,045,802 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $137,454 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,365 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $109,083 |
| Net Land, buildings, and equipment | $117,946 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $266,675 |
| Total assets | $5,033,286 |
| Accounts payable and accrued expenses | $449,874 |
| Grants payable | $0 |
| Deferred revenue | $641,325 |
| 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 | $257,524 |
| Total liabilities | $1,348,723 |
| Net assets without donor restrictions | $3,053,578 |
| Net assets with donor restrictions | $630,985 |
| 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 | $5,033,286 |
Grants Awarded
Over the last fiscal year, Louisville Chamber Of Commerce Inc has awarded $140,571 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
NATIONAL ASSOCIATION OF WOMEN BUSINESS OWNERS PURPOSE: GENERAL SUPPORT | $5,000 |
GREATER CLARK COUNTY SCHOOLS PURPOSE: GENERAL SUPPORT | $1,500 |
KENTUCKY SCIENCE & TECHNOLOGY PURPOSE: IDEAFEST 2018 | $1,080 |
SOUTHERN HIGH SCHOOL PURPOSE: GENERAL SUPPORT | $4,991 |
FUND FOR THE ARTS PURPOSE: GENERAL SUPPORT | $3,000 |
COMMUNITY FOUNDATION OF LOUISVILLE PURPOSE: GENERAL SUPPORT | $120,000 |