Montgomery Area Chamber Of Commerce
- Assets
- $3.6m
- Revenue
- $6.7m
- Investments
- $0.0
- Employees
- 39
- Location
- Montgomery, AL
- Founding
- 00/0000
- Data as of
- 12/2022
- EIN
- 63-0039380
Organization Overview
Montgomery Area Chamber Of Commerce is located in Montgomery, AL. The organization was established in 0000. 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, Montgomery Area Chamber Of Commerce employed 39 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Montgomery Area 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, Montgomery Area Chamber Of Commerce generated $6.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $6.9m during the year ending 12/2022. While expenses have increased by 0.8% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ADVANCE THE CIVIC, COMMERCIAL, AND INDUSTRIAL INTERESTS OF THE MONTGOMERY AREA FOR THE GENERAL BENEFIT AND WELFARE OF THE TOTAL COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COSTS WERE INCURRED IN PROMOTING AREA ECONOMIC DEVELOPMENT, TOURISM, CONVENTIONS, AND MEMBER SERVICES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Yelverton III Imm Past Cha | OfficerTrustee | 2 | $0 |
Labarron Boone Chairman Ele | OfficerTrustee | 2 | $0 |
Cedric Campbell Chairman | OfficerTrustee | 2 | $0 |
Willie Durham Non-Voting M | Trustee | 2 | $0 |
Caryn Hughes Vice Chairma | Trustee | 2 | $0 |
Leslie Sanders Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,732,771 |
| 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 | $3,732,771 |
| Total Program Service Revenue | $2,279,918 |
| Investment income | $10,552 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$4,798 |
| Net Income from Fundraising Events | $714,979 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $6,579 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,740,001 |
| 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. | $1,011,839 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,944,055 |
| Pension plan accruals and contributions | $110,927 |
| Other employee benefits | $73,668 |
| Payroll taxes | $205,299 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $32,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $5,000 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $247,662 |
| Office expenses | $44,424 |
| Information technology | $210,444 |
| Royalties | $0 |
| Occupancy | $274,033 |
| Travel | $224,730 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $247,305 |
| Interest | $4,100 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $25,809 |
| Insurance | $12,679 |
| All other expenses | $946,343 |
| Total functional expenses | $6,859,079 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,508,344 |
| 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 | $7,445 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $98,519 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,614,308 |
| 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 | $30,865 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $14,378 |
| Total liabilities | $45,243 |
| Net assets without donor restrictions | $3,484,065 |
| Net assets with donor restrictions | $85,000 |
| 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 | $3,614,308 |