Rutherford County Chamber Of Commerce
- Assets
- $11.7m
- Revenue
- $4.1m
- Investments
- $0.0
- Employees
- 23
- Location
- Murfreesboro, TN
- Founding
- 03/1965
- Data as of
- 12/2023
- EIN
- 62-0302540
Organization Overview
Rutherford County Chamber Of Commerce is located in Murfreesboro, TN. The organization was established in 1965. 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 12/2023, Rutherford County Chamber Of Commerce employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rutherford County Chamber Of Commerce 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, Rutherford County Chamber Of Commerce generated $4.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $3.7m during the year ending 12/2023. While expenses have increased by 2.4% per year over the past 9 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
COMMUNITY AND BUSINESS DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
TOURISM DEVELOPMENT - INVOLVES DEVELOPMENT AND PROMOTION OF TOURISM IN RUTHERFORD COUNTY
DESTINATION RUTHERFORD - THE GOALS OF THE DESTINATION RUTHERFORD PROGRAM IS TO PROMOTE ECONOMIC GROWTH AND BALANCE, LEADERSHIP AND COMMUNITY DEVELOPMENT, AND EDUCATIONAL ADVANTAGES.
MEMBER SERVICES - PROVIDES MEMBERSHIP ACTIVITIES INCLUDING BUSINESS RECRUITMENT, MEMBER ENGAGEMENT EVENTS AND PROFESSIONAL DEVELOPMENT OPPORTUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Latture President | Officer | 40 | $295,214 |
Patrick Cammack Economic Dev | 40 | $141,377 | |
Stephanie Brackman Chief Oper Officer | 40 | $141,213 | |
Lemuel Jones Economic Dev | 40 | $115,650 | |
Barbara Wolke VP Conv Bureau | 40 | $87,482 | |
Kelli Beam VP Of Member Dev | 40 | $77,100 |
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 | $2,750,312 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,750,312 |
| Total Program Service Revenue | $981,948 |
| Investment income | $268,804 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $87,496 |
| 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 | $4,088,560 |
| 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. | $295,214 |
| Compensation of current officers, directors, key employees. | $250,932 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,249,692 |
| Pension plan accruals and contributions | $87,230 |
| Other employee benefits | $0 |
| Payroll taxes | $104,768 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $33,485 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $171,707 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $95,833 |
| Travel | $12,336 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $127,791 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $25,262 |
| Insurance | $170,047 |
| All other expenses | $527,914 |
| Total functional expenses | $3,671,034 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $580,146 |
| Savings and temporary cash investments | $8,473,843 |
| Pledges and grants receivable | $1,821,558 |
| Accounts receivable, net | $621,852 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $13,521 |
| Prepaid expenses and deferred charges | $13,313 |
| Net Land, buildings, and equipment | $171,760 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $53,334 |
| Total assets | $11,749,327 |
| Accounts payable and accrued expenses | $39,492 |
| Grants payable | $0 |
| Deferred revenue | $343,417 |
| 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 | $4,128 |
| Total liabilities | $387,037 |
| Net assets without donor restrictions | $9,406,732 |
| Net assets with donor restrictions | $1,955,558 |
| 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 | $11,749,327 |