Hernando Main Street-Chamber Of Commerce Program
- Assets
- $329.7k
- Revenue
- $190.2k
- Investments
- $0.0
- Employees
- 2
- Location
- Hernando, MS
- Founding
- 12/1998
- Data as of
- 12/2023
- EIN
- 64-0901077
Organization Overview
Hernando Main Street-Chamber Of Commerce Program is located in Hernando, MS. The organization was established in 1998. 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 12/2023, Hernando Main Street-Chamber Of Commerce Program employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hernando Main Street-Chamber Of Commerce Program 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 12/2023, Hernando Main Street-Chamber Of Commerce Program generated $190.2k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $172.1k during the year ending 12/2023. While expenses have increased by 1.1% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND DEVELOP BUSINESS ACTIVITIES IN THE CITY OF HERNANDO, MS AND SURROUNDING COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE AND DEVELOP BUSINESS ACTIVITY IN THE CITY OF HERNANDO, MS AND SURROUNDING COMMUNITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Ward Board Member | Officer | 1 | $0 |
Craig Carter Board Member | 1 | $0 | |
Megan Cole President | 1 | $0 | |
Michael Ann Dillenger Secretary | Officer | 1 | $0 |
Taylor Phillips Board Member | 1 | $0 | |
Gia Matheny Board Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $82,272 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $23,333 |
| 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 | $105,605 |
| Total Program Service Revenue | $84,575 |
| Investment income | $31 |
| 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 | $190,211 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $72,040 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,119 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $9,257 |
| Office expenses | $29 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,381 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,558 |
| Interest | $4,732 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,390 |
| Insurance | $7,141 |
| All other expenses | $31,022 |
| Total functional expenses | $172,081 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $195,800 |
| Savings and temporary cash investments | $20,419 |
| 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 | $0 |
| Net Land, buildings, and equipment | $113,464 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $329,683 |
| Accounts payable and accrued expenses | $3,077 |
| Grants payable | $100,000 |
| 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 | $144,752 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $247,829 |
| Net assets without donor restrictions | $0 |
| 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 | $81,854 |
| Total liabilities and net assets/fund balances | $329,683 |