Bessemer Chamber Of Commerce
- Assets
- $39.5k
- Revenue
- $381.8k
- Investments
- $0.0
- Employees
- 3
- Location
- Bessemer, AL
- Founding
- 05/1945
- Data as of
- 12/2023
- EIN
- 63-0020120
Organization Overview
Bessemer Chamber Of Commerce is located in Bessemer, AL. The organization was established in 1945. 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, Bessemer Chamber Of Commerce employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bessemer 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, Bessemer Chamber Of Commerce generated $381.8k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $334.6k during the year ending 12/2023. While expenses have increased by 4.4% 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
PROMOTE THE ECONOMIC WELL BEING OF REGIONAL BUSINESSES AND REPRESENT THE BUSINESS COMMUNITY IN ECONOMIC, POLITICAL, CIVIC, EDUCATIONAL, AND CULTURAL DEVELOPMENT OF THE REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BUSINESS DEVELOPMENT DIVISION: TO PROMOTE AND SUPPORT BUSINESS DEVELOPMENT THROUGH FACILITATION, COORDINATION, AND EXPANSION OF RESOURCES SERVING EXISTING AND PROSPECTIVE BUSINESSES. GOVERNMENTAL AFFAIRS COMMITTEE - TO SET THE POLITICAL AGENDA FOR THE CHAMBER AND TO ADDRESS ALL ISSUES IN THE POLITICAL ARENA FACING LOCAL BUSINESS AND THE CHAMBER. CONTRACTORS/DEVELOPERS COMMITTEE - TO REPRESENT THE INTERESTS OF CONTRACTORS (GENERAL AND SUB), DEVELOPERS, AND REALTORS IN THE CHAMBERS REGIONAL AREA WITH LOCAL, COUNTY, STATE AND FEDERAL BUILDING POLICIES, LEGISLATION, ORDINANCES AND CODES. SMALL BUSINESS COMMITTEE - TO REPRESENT THE INTERESTS OF SMALL BUSINESSES AND PROVIDE THEM WITH RESOURCES THAT HELP THEM BE SUCCESSFUL. COMMUNITY BUILDING DIVISION - TO BUILD A STRONGER, MORE UNIFIED COMMUNITY THROUGH CONTINUED PROGRAM DEVELOPMENT, PROMOTION PLANNING AND NETWORKING OF AREA ORGANIZATIONS. MEMBERSHIP DIVISION - TO EFFECTIVELY SERVE THE MEMBERSHIP OF THE CHAMBER AND CREATE PROGRAMS, ACTIVITIES, AND EVENTS WHICH WILL BE BENEFICIAL TO EACH MEMBER. HEALTHCARE COMMITTEE - TO MEET THE BUSINESS NEEDS OF THE HEALTHCARE COMMUNITY IN THE WESTERN JEFFERSON COUNTY REGION AND TO ADDRESS ALL BUSINESS RELATED ISSUES FACING HEALTHCARE PROFESSIONALS AND THE CHAMBER. LEGAL COMMITTEE - TO MEET THE BUSINESS NEEDS OF THE LEGAL COMMUNITY IN THE WESTERN JEFFERSON COUNTY REGION AND TO ADDRESS ALL BUSINESS RELATED ISSUES IN THE BUSINESS ARENA FACING LOCAL LEGAL PROFESSIONALS AND THE CHAMBER. BY-LAWS COMMITTEE - TO ANNUALLY REVIEW AND MAKE RECOMMENDATIONS ON CHANGES, CORRECTIONS, OR ADDITIONS TO THE BOARD APPROVED BY-LAWS, EMPLOYEE MANUAL, AND POLICY/PROCEDURES MANUAL FO THE BESSEMER AREA CHAMBER OF COMMERCE. FINANCE AND OPERATIONS AUDIT COMMITTEE - TO CONDUCT AN ANNUAL REVIEW OF THE CHAMBER'S FINANCES AND INTERNAL BUSINESS PROCEDURES. GOLF TOURNAMENT COMMITTEE - TO ORGANIZE, PROMOTE AND SUPERVISE A SUCCESSFUL AND PROFITABLE ANNUAL MEMBERSHIP GOLF TOURNAMENT FOR THE BENEFIT OF THE CHAMBER AND ITS MEMBERS. HOSPITALITY AND TOURISM DIVISION - TO PROMOTE BESSEMER AREA ATTRACTIONS TO VISITORS AS WELL AS LOCAL RESIDENTS AS A PLACE TO VISIT AND ENJOY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Latasha Cook President | Officer | 40 | $58,941 |
Cynthia Anthony Chairwoman | OfficerTrustee | 10 | $0 |
Mitch Avery Past Chairma | OfficerTrustee | 5 | $0 |
Carlton Jackson Finance Chai | OfficerTrustee | 5 | $0 |
Keith Pennington Treasurer | OfficerTrustee | 5 | $0 |
Antoinette Madison Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $45,000 |
| 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 | $45,000 |
| Total Program Service Revenue | $52,302 |
| Investment income | $30 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$118 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $381,819 |
| 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 | $101,745 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,953 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,675 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $25,657 |
| Office expenses | $13,712 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,641 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,516 |
| Interest | $178 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,228 |
| Insurance | $24,310 |
| All other expenses | $71,182 |
| Total functional expenses | $334,635 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200 |
| Savings and temporary cash investments | $35,999 |
| 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 | $3,321 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $39,520 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $16,000 |
| 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 | $2,340 |
| Total liabilities | $18,340 |
| Net assets without donor restrictions | $21,180 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $39,520 |