Conway Area Chamber Of Commerce
- Assets
- $1.6m
- Revenue
- $2.1m
- Investments
- $72.8k
- Employees
- 18
- Location
- Conway, AR
- Founding
- 01/1972
- Data as of
- 12/2023
- EIN
- 71-0037470
Organization Overview
Conway Area Chamber Of Commerce is located in Conway, AR. The organization was established in 1972. 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, Conway Area Chamber Of Commerce employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Conway Area 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 12/2023, Conway Area Chamber Of Commerce generated $2.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $2.4m during the year ending 12/2023. While expenses have increased by 8.7% per year over the past 9 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 LOCAL AREA BUSINESSES IN THE CITY OF CONWAY, ARKANSAS WHO ARE MEMBERS OF THE ORGANIZATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPECIAL PROJECT TO PROMOTE THE CITY OF CONWAY, AR
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cate Mcconnell Past Chair | OfficerTrustee | 10 | $0 |
Drew Gainor Chair | OfficerTrustee | 10 | $0 |
Brad Lacy Secretary | OfficerTrustee | 10 | $0 |
Korry Garrett Vice Chair | OfficerTrustee | 10 | $0 |
Matt Troup Treasurer | OfficerTrustee | 10 | $0 |
Lindsay Henderson Chief Revenue Officer | 40 | $208,538 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $465,831 |
| 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 | $465,831 |
| Total Program Service Revenue | $1,387,281 |
| Investment income | $24,424 |
| 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 | $2,130,119 |
| 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 | $819,115 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $137,761 |
| Payroll taxes | $77,141 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $23,876 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $149,007 |
| Advertising and promotion | $51,053 |
| Office expenses | $15,356 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $270,016 |
| Travel | $54,166 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,362 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $69,275 |
| Insurance | $22,018 |
| All other expenses | $70,559 |
| Total functional expenses | $2,355,859 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $893,564 |
| 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 | $590,070 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $72,766 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,556,400 |
| Accounts payable and accrued expenses | $131,016 |
| Grants payable | $0 |
| Deferred revenue | $59,774 |
| 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 | $37,290 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $228,080 |
| Net assets without donor restrictions | $1,310,342 |
| Net assets with donor restrictions | $17,978 |
| 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 | $1,556,400 |