Coastal Alabama Business Chamber
- Assets
- $737.7k
- Revenue
- $832.5k
- Investments
- $0.0
- Employees
- 7
- Location
- Gulf Shores, AL
- Founding
- 11/1983
- Data as of
- 12/2021
- 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 12/2021, Coastal Alabama Business Chamber employed 7 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 12/2021, Coastal Alabama Business Chamber generated $832.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (15.3%) each year. All expenses for the organization totaled $833.7k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (7.0%) 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
2021
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 |
|---|---|---|---|
Kenneth G Alexander President/ceo | OfficerTrustee | 50 | $119,639 |
Suzette Hataway Secretary | OfficerTrustee | 50 | $73,093 |
Chad Leonard Chairman Of The Board | OfficerTrustee | 0.5 | $0 |
Charles Weber Vice Chair-Public Policy | OfficerTrustee | 0.5 | $0 |
Dec Mcclelland Past Chairman | OfficerTrustee | 0.5 | $0 |
Mike Steward Chairman Elect/vice Chair Finance | OfficerTrustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $318,462 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $231,085 |
| 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 | $549,547 |
| Total Program Service Revenue | $270,513 |
| Investment income | $192 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,724 |
| 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 | $832,492 |
| 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. | $192,732 |
| Compensation of current officers, directors, key employees. | $38,546 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $236,052 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $62,415 |
| Payroll taxes | $33,441 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,611 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $9,000 |
| Office expenses | $41,269 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $17,120 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $88,429 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $18,994 |
| Insurance | $30,490 |
| All other expenses | $2,306 |
| Total functional expenses | $833,680 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $401,597 |
| Savings and temporary cash investments | $38,678 |
| 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 | $7,887 |
| Net Land, buildings, and equipment | $289,501 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $737,663 |
| Accounts payable and accrued expenses | $33,184 |
| Grants payable | $0 |
| Deferred revenue | $150,706 |
| 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 | $602,155 |
| Total liabilities | $786,045 |
| Net assets without donor restrictions | -$48,382 |
| 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 | $737,663 |
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|---|---|---|
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North American Electric Reliabilitycorporation Atlanta, GA | $65,227,333 | $81,782,902 |
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Institute Of Internal Auditors Lake Mary, FL | $101,351,692 | $59,361,984 |
Florida Association Of Realtors Orlando, FL | $96,568,925 | $47,578,542 |
National Association Of State Boards Of Accountancy Inc Nashville, TN | $83,126,370 | $38,317,801 |
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American Welding Society Inc Miami, FL | $147,619,451 | $41,705,708 |
American Society Of Heating Refrigerating & A-C Engineers Peachtree Corners, GA | $58,779,760 | $22,960,689 |
Nashville Convention & Visitors Bureau Nashville, TN | $15,667,602 | $21,623,147 |
Gwinnett Convention And Visitors Bureau Inc Duluth, GA | $29,610,598 | $21,705,089 |
Icamr Inc Neocity, FL | $16,807,579 | $18,482,877 |