Hopkins County Regional Chamber Of Commerce
- Assets
- $338.6k
- Revenue
- $362.0k
- Investments
- $0.0
- Employees
- 5
- Location
- Madisonville, KY
- Founding
- 09/1982
- Data as of
- 12/2023
- EIN
- 61-0561820
Organization Overview
Hopkins County Regional Chamber Of Commerce, operating under the name Hopkins County Regional Chamber Of, is located in Madisonville, KY. The organization was established in 1982. 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, Hopkins County Regional Chamber Of employed 5 individuals. This organization is the central organization for a national or regional group of organizations. Hopkins County Regional Chamber Of 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, Hopkins County Regional Chamber Of generated $362.0k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $356.2k during the year ending 12/2023. While expenses have increased by 4.4% 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
TO PROVIDE SERVICES TO BUSINESSES AND INDIVIDUALS IN THE LOCAL COMMUNITY IN AN EFFORT TO PROMOTE BUSINESS AND ECONOMIC DEVELOPMENT IN THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPONSOR AN ANNUAL BANQUET AND A FARM CITY BREAKFAST TO RECOGNIZE OUTSTANDING LEADERS IN THE BUSINESS, GOVERNMENT, HEALTHCARE, AND AGRICULTURAL FIELDS. THESE ACTIVITIES PROVIDE AN OPPORTUNITY FOR THE ENTIRE COMMUNITY TO NETWORK AND PROMOTE ECONOMIC GROWTH.
PUBLISH AN ANNUAL DIRECTORY TO HIGHLIGHT INDIVIDUALS AND BUSINESSES WITHIN THE COMMUNITY. APPROXIMATELY 700 DIRECTORIES ARE PRINTED EACH YEAR AND GIVEN TO CHAMBER MEMBERS AND NEW MEMBERS TO THE COMMUNITY. NEWSLETTERS ARE EMAILED TO APPROXIMATLEY 700 PEOPLE. THESE ACTIVITIES HELP TO PROMOTE SHOPPING AND ECONOMIC DEVELOPMENT IN THE COMMUNITY. ALLIANCE WITH OTHER AREA CHAMBERS, AND HELP PROMOTE THE CHAMBER'S COMMUNITY. TO PROVIDE CHAMBER MEMBERS THE OPPORTUNITY TO TRAVEL TO DIFFERENT AREAS TO SEE HOW BUSINESSES OPERATE IN DIFFERENT LOCATIONS. THIS HELPS TO PROMOTE ECONOMIC DEVELOPMENT WITH IDEA GROWTH, NETWORKING, AND GENERATION OF LEADS FOR NEW BUSINESSES TO MOVE TO THE AREA. ALLIANCE WITH OTHER CHAMBERS ALLOWS FOR THE CONTINUED OPPORTUNITY TO GROW LOCAL BUSINESSES WITH THE LEARNING OPPORTUNITIES.
SPONSOR VARIOUS ACTIVIES THROUGHOUT THE YEAR TO PROMOTE NETWORKING WITHIN THE BUSINESSES AND THE COMMUNITY. THESE ACTIVITIES ALSO HIGHLIGHT NEW AND EXISTING BUSINESSES TO THE COMMUNITY.
SPONSOR A LEADERSHIP PROGRAM TO THE COMMUNITY TO HELP TRAIN FUTURE COMMUNITY LEADERS. APPROXIMATELY TWENTY PARTICIPANTS ARE SELECTED FOR EACH CLASS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andy Belcher Leadership H | OfficerTrustee | $0 | |
Dana Brown Director | Trustee | $0 | |
Cameron Edwards Past Chair | OfficerTrustee | $0 | |
Laura Faulk Director | Trustee | $0 | |
Brandi Frizzell Director | Trustee | $0 | |
Ray Hagerman Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $349,726 |
| Investment income | $97 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $11,337 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$3,520 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $362,031 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $107,886 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,928 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,383 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,058 |
| Travel | $1,964 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $930 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,468 |
| Insurance | $10,190 |
| All other expenses | $52,668 |
| Total functional expenses | $356,187 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $170,994 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $57,656 |
| 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 | $12,177 |
| Net Land, buildings, and equipment | $97,776 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $338,603 |
| Accounts payable and accrued expenses | $2,707 |
| Grants payable | $0 |
| Deferred revenue | $69,592 |
| 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 | $2,444 |
| Total liabilities | $74,743 |
| 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 | $263,860 |
| Total liabilities and net assets/fund balances | $338,603 |