Putnam County Chamber Of Commerce
- Assets
- $2.0m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 36
- Location
- Cookeville, TN
- Founding
- 07/1983
- Data as of
- 12/2022
- EIN
- 62-0432130
Organization Overview
Putnam County Chamber Of Commerce is located in Cookeville, TN. The organization was established in 1983. 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 12/2022, Putnam County Chamber Of Commerce employed 36 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Putnam 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 12/2022, Putnam County Chamber Of Commerce generated $1.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.7%) each year. All expenses for the organization totaled $1.5m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (4.3%) 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
TO STRENGTHEN THE REGION BY CULTIVATING A VIBRANT ECONOMY AND ENHANCING QUALITY OF LIFE. OUR PRIMARY VISION IS TO BE A CATALYST FOR A COLLABORATIVE AND PROSPEROUS REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ECONOMIC DEVELOPMENT: STRIVE TO CREATE AN ENVIRONMENT IN PUTNAM COUNTY WHERE RESIDENTS CAN LIVE AND WORK SUCCESSFULLY. THIS INCLUDES NEW JOB DEVELOPMENT SERVICES TO EXISTING BUSINESS AND INDUSTRY TECHNICAL TRAINING.
HIGHLAND'S INITIATIVE: A FIVE YEAR REGIONAL ECONOMIC ACCELERATION PROGRAM FOR COOKEVILLE, PUTNAM COUNTY, AND THE UPPER CUMBERLAND.
CONVENTION AND VISITORS BUREAU: A PROGRAM DEVELOPED TO PROMOTE TRAVEL, TOURISM, AND CONVENTIONS WITHIN PUTNAM COUNTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amy New President/ce | OfficerTrustee | 40 | $151,553 |
Lynne Matthews VP Of Operat | Officer | 40 | $62,905 |
Michael Porten Chair | OfficerTrustee | 1 | $0 |
Philip Oldham Chair Elect | OfficerTrustee | 1 | $0 |
Wayne Cravens Immediate Pa | OfficerTrustee | 1 | $0 |
Mike Davidson Secretary/tr | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $524,955 |
| All other contributions, gifts, grants, and similar amounts not included above | $516,709 |
| Noncash contributions included in lines 1a–1f | $7,637 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,041,664 |
| Total Program Service Revenue | $465,811 |
| Investment income | $2,406 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,340 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $57,508 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,565,049 |
| 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. | $254,745 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $597,319 |
| Pension plan accruals and contributions | $8,997 |
| Other employee benefits | $41,839 |
| Payroll taxes | $68,565 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $31,547 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,569 |
| Advertising and promotion | $97,305 |
| Office expenses | $23,757 |
| Information technology | $5,496 |
| Royalties | $0 |
| Occupancy | $75,241 |
| Travel | $3,571 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,716 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $25,451 |
| Insurance | $7,605 |
| All other expenses | $645 |
| Total functional expenses | $1,451,568 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $360,025 |
| Savings and temporary cash investments | $656,642 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $195,544 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $31,699 |
| Prepaid expenses and deferred charges | $61,643 |
| Net Land, buildings, and equipment | $215,846 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $438,318 |
| Total assets | $1,959,717 |
| Accounts payable and accrued expenses | $86,797 |
| Grants payable | $0 |
| Deferred revenue | $100,693 |
| 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 | $446,130 |
| Total liabilities | $633,620 |
| Net assets without donor restrictions | $785,600 |
| Net assets with donor restrictions | $540,497 |
| 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 | $1,959,717 |