Madison Chamber Of Commerce
- Assets
- $246.9k
- Revenue
- $270.0k
- Investments
- $0.0
- Employees
- 4
- Location
- Madison, AL
- Founding
- 10/2002
- Data as of
- 09/2021
- EIN
- 63-1098186
Organization Overview
Madison Chamber Of Commerce is located in Madison, AL. The organization was established in 2002. 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 09/2021, Madison Chamber Of Commerce employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Madison 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 09/2021, Madison Chamber Of Commerce generated $270.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (5.0%) each year. All expenses for the organization totaled $188.4k during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (10.9%) per year over the past 6 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
INSTITUTION OF LEADERSHIP AND AN ADVOCATE FOR ITS MEMBERS AND THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LUNCHEONS, BIZ AFTER HOURS, BUS DEVELOPMENT SEMINARS, BEST IN BUSINESS AWARDS, MISCELLANEOUS EVENTS: TO PROVIDE A VENUE FOR LOCAL BUSINESSES & THEIR COMMUNITY LEADERS TO INTERACT AND BUILD NETWORKS. AVERAGE MONTHLY ATTENDANCE IS 45 FOR ALL EXCEPT THE BEST IN BUSINESS AWARDS. BEST IN BUSINESS AWARDS PARTICIPANTS: 35
BUSINESS EXPO : EVENTS TO PROVIDE LOCAL VENDORS AN OPPORTUNITY TO RAISE COMMUNITY AWARENESS & PATRONAGE OF LOCAL BUSINESSES. ESTIMATED NUMBER OF EXPO VENDORS PARTICIPATING: 55. ESTIMATED NUMBER OF EXPO PARTICIPANTS: 300
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Merrill Wright Executive Director | Officer | 40 | $61,600 |
Shari Burnum President | OfficerTrustee | 5 | $0 |
Nancy Dollar Treasurer | OfficerTrustee | 5 | $0 |
Janet Brown Secretary | OfficerTrustee | 5 | $0 |
David Barrett Director | Trustee | 1 | $0 |
Denise Bates Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $85,370 |
| All other contributions, gifts, grants, and similar amounts not included above | $13,450 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $98,820 |
| Total Program Service Revenue | $171,186 |
| Investment income | $0 |
| 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 | $270,006 |
| 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. | $61,600 |
| Compensation of current officers, directors, key employees. | $18,480 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $32,541 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,374 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,685 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $9,349 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $21,444 |
| Travel | $2,719 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $12,420 |
| All other expenses | $12,500 |
| Total functional expenses | $188,365 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $148,956 |
| Savings and temporary cash investments | $78,906 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $19,025 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $246,887 |
| Accounts payable and accrued expenses | $10,499 |
| Grants payable | $0 |
| Deferred revenue | $3,150 |
| 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 | $0 |
| Total liabilities | $13,649 |
| Net assets without donor restrictions | $233,238 |
| 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 | $246,887 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Madison Chamber Of Commerce has recieved totaling $11,000.
| Awarding Organization | Amount |
|---|---|
Operation Underground Railroad Inc Anaheim, CA PURPOSE: SUPPORT RESCUING AND RECOVORY OF TRAFFICKED CHILDREN | $11,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Federation Of Independent Business Inc Nashville, TN | $77,203,691 | $109,079,617 |
North American Electric Reliabilitycorporation Atlanta, GA | $65,227,333 | $81,782,902 |
Gsma Ltd Atlanta, GA | $262,728,803 | $123,320,595 |
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 |
Southern Motor Carriers Association Inc Peachtree City, GA | $87,365,051 | $35,375,343 |
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 |