Terralex Inc
- Assets
- $2.4m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 9
- Location
- Miami Lakes, FL
- Founding
- 04/1995
- Data as of
- 12/2021
- EIN
- 65-0189074
Organization Overview
Terralex Inc is located in Miami Lakes, FL. The organization was established in 1995. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Terralex Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Terralex Inc 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, Terralex Inc generated $2.4m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.4%) each year. All expenses for the organization totaled $2.2m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.0%) 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
SEE SCHEDULE OTO HELP MEMBER FIRMS SERVE THEIR CLIENTS' LEGAL NEEDS AND BUSINESSINTERESTS BY DEVELOPING CLOSE WORKING RELATIONSHIPS WITHIN A WORLDWIDENETWORK OF QUALITY LAW FIRMS THAT MEET HIGH PROFESSIONAL STANDARDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEETINGS:DUE TO THE ON GOING COVID-19 PANDEMIC, THE ORGANIZATION WAS UNABLE TO HOST ANY GLOBAL MEETINGS. MEETINGS GENERALLY CONSIST OF PLENARY SESSIONS THAT ARE EDUCATIONAL BUSINESS SESSIONS DEVELOPED WITH AN EYE TOWARD INCLUDING CHANGES IN LAWS THAT MAY AFFECT MEMBERS AND THEIR CLIENTS, AND CURRENT PRACTICE MANAGEMENT ISSUES. IN ADDITION, PRACTICE GROUPS MEET VIRTUALLY AT EACH GLOBAL MEETINGS. PRACTICE GROUPS FOCUS ON AREAS OF SPECIALIZATION SUCH AS ENVIRONMENTAL OR INTELLECTUAL PROPERTY LAW.
WEBSITE:THE WEBSITE AND COMMUNICATIONS TECHNOLOGY, INCLUDING LISTSERVS, ARE MAINTAINED AND FURTHER DEVELOPED EACH YEAR TO PROVIDE UPDATED INFORMATION AND TECHNOLOGY THAT ENABLE MEMBERS TO "MEET" ELECTRONICALLY AND SHARE INFORMATION.
NEWSLETTER:A QUARTERLY NEWSLETTER FOCUSING ON SUBSTANTIVE LEGAL TOPICS IS PRODUCED AND DISTRIBUTED TO MEMBERS WORLDWIDE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terri Pepper Gavulic Chief Executive Officer | Officer | 60 | $290,692 |
Timothy E Shannon Jr Business Development Direc | Officer | 50 | $174,800 |
Andrea Wood Business Development Direc | Trustee | 50 | $138,500 |
Aaron Levet Officer | OfficerTrustee | 2 | $0 |
Bob Groeneveld Officer | OfficerTrustee | 2 | $0 |
Juan Martin Olivera Officer | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Westin Grand Munich Hotel Facilities,food,a/v Equip.,office Rental | 12/30/15 | $164,948 |
Omni Nashville Hotel Facilities,food,a/v Equip.,office Rental | 12/30/15 | $147,690 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| 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 | $0 |
| Total Program Service Revenue | $2,382,529 |
| Investment income | $26,072 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$3,070 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,405,531 |
| 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. | $624,611 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $950,412 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $54,961 |
| Payroll taxes | $78,451 |
| 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 | $7,426 |
| Fees for services: Other | $22,087 |
| Advertising and promotion | $103,034 |
| Office expenses | $38,338 |
| Information technology | $83,045 |
| Royalties | $0 |
| Occupancy | $95,838 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,152 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $128,416 |
| Insurance | $8,331 |
| All other expenses | $8,408 |
| Total functional expenses | $2,204,510 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,032,032 |
| Savings and temporary cash investments | $19,274 |
| 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 | $104,982 |
| Investments—publicly traded securities | $1,190,970 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $31,250 |
| Total assets | $2,378,508 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| 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 | $2,378,508 |
| Total liabilities and net assets/fund balances | $2,378,508 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Miami Association Of Realtors Inc Miami, FL | $56,284,695 | $21,744,917 |
Metropolitan Atlanta Chamber Of Commerce Inc Atlanta, GA | $19,028,351 | $14,011,506 |
Savannah Area Chamber Of Commerce Savannah, GA | $13,537,143 | $16,865,609 |
Orlando Regional Realtor Association Inc Orlando, FL | $41,443,880 | $9,652,407 |
Jacksonville Regional Chamber Of Commerce Inc Jacksonville, FL | $9,462,619 | $9,572,618 |
Orlando Economic Partnership Inc Orlando, FL | $7,838,258 | $8,634,020 |
Florida Chamber Of Commerce Tallahassee, FL | $11,287,883 | $6,720,102 |
The Economic Development Partnership Of Alabama Inc Birmingham, AL | $16,193,879 | $5,250,949 |
Gwinnett Chamber Of Commerce Inc Duluth, GA | $6,627,911 | $6,072,892 |
Jacksonville And The Beaches Convention & Visitors Bureau Inc Jacksonville, FL | $1,089,102 | $5,103,594 |
Better Business Bureau Of Palm Beach County Inc West Palm Beach, FL | $4,183,669 | $5,496,948 |
Florida Rv Trade Association Riverview, FL | $9,475,092 | $4,511,413 |