Farragut Chamber Of Commerce
- Assets
- $160.2k
- Revenue
- $298.0k
- Investments
- $0.0
- Employees
- 4
- Location
- Knoxville, TN
- Founding
- 10/1989
- Data as of
- 06/2022
- EIN
- 62-1333456
Organization Overview
Farragut Chamber Of Commerce is located in Knoxville, TN. The organization was established in 1989. 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 06/2022, Farragut Chamber Of Commerce employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Farragut 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 06/2022, Farragut Chamber Of Commerce generated $298.0k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $277.0k during the year ending 06/2022. 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, PROMOTE AND CREATE BUSINESS OPPORTUNITIES THROUGH RELATIONSHIPS AND EDUCATION THAT ENCOURAGE MEMBER SUCCESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBERSHIP MEETINGS AND EVENTS TO SUPPORT COMMERCE IN THE AREA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Benjamin Ridder Director | Trustee | 1.5 | $0 |
Ryan Distelberg Director | Trustee | 1.5 | $0 |
Robin Biggs Director | Trustee | 1.5 | $0 |
Natasha Bohannon Director | Trustee | 1.5 | $0 |
Matthew Bryan Director | Trustee | 1.5 | $0 |
Ken Finster Director | Trustee | 1.5 | $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 | $270,251 |
| Investment income | $129 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $27,199 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $297,968 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,500 |
| Grants and other assistance to domestic individuals. | $3,400 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $78,482 |
| Compensation of current officers, directors, key employees. | $42,816 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $48,807 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,920 |
| Payroll taxes | $9,402 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,758 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,318 |
| Advertising and promotion | $83 |
| Office expenses | $13,939 |
| Information technology | $11,106 |
| Royalties | $0 |
| Occupancy | $28,292 |
| Travel | $1,514 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $26,812 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,550 |
| All other expenses | $0 |
| Total functional expenses | $276,953 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $73,901 |
| Savings and temporary cash investments | $86,300 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $160,201 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| 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 | $160,201 |
| Total liabilities and net assets/fund balances | $160,201 |