Shoals Chamber Of Commerce Inc Fka Chamber Of Commerce Of Shoals

Organization Overview

Shoals Chamber Of Commerce Inc Fka Chamber Of Commerce Of Shoals is located in Florence, AL. The organization was established in 1991. 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 03/2023, Shoals Chamber Of Commerce Inc Fka Chamber Of Commerce Of Shoals employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Shoals Chamber Of Commerce Inc Fka Chamber Of Commerce Of Shoals 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 03/2023, Shoals Chamber Of Commerce Inc Fka Chamber Of Commerce Of Shoals generated $727.7k in total revenue. The organization has seen a slow decline revenue. Over the past 3 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $838.4k during the year ending 03/2023. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

THE CHAMBERS GOAL IS TO PROVIDE LEADERSHIP FOR A STRONG AND POSITIVE BUSINESS ENVIRONMENT THAT ENABLES NEW AND EXISTING BUSINESSES TO FLOURISH. AS AN ORGANIZATION OF INFLUENCE, OUR PROGRAMS AND SERVICES ENABLE SHOALS AREA BUSINESSES TO STRIVE FOR SUCCESS

Describe the Organization's Program Activity:

Part 3 - Line 4a

MEMBERSHIP SERVICE-SUCCESSFULLY PROMOTES THE AREAS ECONOMIC GROWTH FOR THE BENEFIT OF THE MEMBERS ENHANCES QUALITY OF LIFE FOR THE AREA CITIZENS BY RECRUITING RESIDENTS, BUSINESSES AND ACTIVITES TO THE COMMUNITY ENHANCES QUALITY OF LIFE FOR AREA CITIZENS BY RECRUITING RESIDENTS, BUSINESSES AND ACTIVITIES TO THE COMMUNITY


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Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$537,449
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$537,449
Total Program Service Revenue$175,698
Investment income $3,840
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $1,960
Net Income from Fundraising Events $986
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $727,686

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