Coastal Alabama Business Chamber
- Assets
- $438.0k
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 8
- Location
- Gulf Shores, AL
- Founding
- 11/1983
- Data as of
- 12/2022
- EIN
- 63-0837944
Organization Overview
Coastal Alabama Business Chamber is located in Gulf Shores, AL. 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, Coastal Alabama Business Chamber employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Coastal Alabama Business Chamber 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, Coastal Alabama Business Chamber generated $1.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.5%) 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 (1.5%) per year over the past 7 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 UNITE BUSINESS AND COMMUNITY IN ORDER TO PROMOTE QUALITY BUSINESS GROWTH AND COMMUNITY DEVELOPMENT THROUGH MEMBER SUPPORT, COOPERATION AND COMMUNICATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NATIONAL SHRIMP FESTIVAL: FESTIVAL WHICH INCLUDES FINE ARTS, ARTS AND CRAFTS, MUSIC AND FOOD. THE EVENT PROMOTES AND DEVELOPS THE GULF SHORES/ORANGE BEACH, ALABAMA AREA AND HAS AN IMMEASURABLE IMPACT ON THE LOCAL ECONOMY.
MEMBER SERVICES: VARIOUS MEMBER SERVICES PROVIDED, THE PURPOSE OF WHICH IS TO FURTHER THE CHAMBER'S MISSION.
MEMBER SERVICES: VARIOUS MEMBER SERVICES PROVIDED, THE PURPOSE OF WHICH IS TO FURTHER THE CHAMBER'S MISSION. ANNUAL MEETING: MEMBERSHIP MEETING FOR EXCHANGE OF IDEAS AND TO SET GOALS FOR THE UPCOMING YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew Hart Ex-Officio | Trustee | 0.5 | $0 |
Beth Gendler Ex-Officio | Trustee | 0.5 | $0 |
Bob Mcdowell Board Member- Conservation & Natural Resourses | Trustee | 0.5 | $0 |
Brandi Ingram Board Member | Trustee | 0.5 | $0 |
Brenton Mcwilliams Board Member- Public Policy | Trustee | 0.5 | $0 |
Chad Leonard Immediate Past Chair | OfficerTrustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $341,403 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $50,000 |
| 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 | $391,403 |
| Total Program Service Revenue | $831,990 |
| Investment income | $391 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $1,242,718 |
| 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. | $195,975 |
| Compensation of current officers, directors, key employees. | $39,195 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $267,960 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $85,645 |
| Payroll taxes | $39,594 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,170 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $16,679 |
| Office expenses | $29,597 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $60,964 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $83,622 |
| Interest | $15,507 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $18,994 |
| Insurance | $20,374 |
| All other expenses | $176,145 |
| Total functional expenses | $1,483,939 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $109,055 |
| Savings and temporary cash investments | $52,677 |
| 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 | $5,756 |
| Net Land, buildings, and equipment | $270,507 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $437,995 |
| Accounts payable and accrued expenses | $41,461 |
| Grants payable | $0 |
| Deferred revenue | $140,133 |
| 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 | $499,900 |
| Total liabilities | $681,494 |
| Net assets without donor restrictions | -$243,499 |
| 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 | $437,995 |