Greater Hot Springs Chamber Of Commerce
- Assets
- $605.6k
- Revenue
- $1.1m
- Investments
- $35.7k
- Employees
- 9
- Location
- Hot Springs, AR
- Founding
- 03/1972
- Data as of
- 12/2023
- EIN
- 71-0089940
Organization Overview
Greater Hot Springs Chamber Of Commerce is located in Hot Springs, 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, Greater Hot Springs Chamber Of Commerce employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Hot Springs 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, Greater Hot Springs Chamber Of Commerce generated $1.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $1.0m during the year ending 12/2023. While expenses have increased by 3.1% 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
COMMUNITY AND MEMBERSHIP SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
I. PROGRAMS AND EVENTS: BUSINESS AFTER HOURS-A POPULAR MONTHLY NETWORKING EVENT WHICH PROVIDES MEMBERS THE OPPORTUNITY TO NETWORK AND DEVELOP NEW BUSINESS CONTACTS. BUSINESS EXPO-A YEARLY EXPOSITION DESIGNED TO PROVIDE LOCAL BUSINESSES THE OPPORTUNITY TO EXPOSE THEIR PRODUCTS AND SERVICES TO THE COMMUNITY. SMALL BUSINESS SEMINARS-SEMINARS ARE CONDUCTED THROUGHOUT THE YEAR TO PROVIDE MANAGEMENT ASSISTANCE, USEFUL BUSINESS INFORMATION AND BUSINESS CONTACTS. COMMITTEE AND TAX FORCE PARTICIPATION-ON AN ANNUAL BASIS, MEMBERS ARE ASKED TO INDICATE THEIR AREA OF VOLUNTEER INTEREST, AND AS NEEDS ARISE, MEMBERS ARE NOTIFIED AND ASKED TO PARTICIPATE IN PROJECTS. II. PUBLICATIONS: THE CHAMBER PRODUCES A NUMBER OF PUBLICATIONS FOR MEMBERS AND IS CONSTANTLY WORKING TO IMPROVE THE CHAMBER'S WEBSITE TO BENEFIT THE MEMBERS. THE E- NEWSLETTERS AND MEMBERSHIP DIRECTORY ARE SENT TO ALL MEMBERS. ALL OTHER PUBLICATIONS ARE AVAILABLE UPON REQUEST. III. SERVICES: THE CHAMBER IS UNIQUE IN THE SERVICES IT PROVIDES ITS MEMBERS AND THE BUSINESS COMMUNITY SUCH AS THE FOLLOWING: MARKET AND DEMOGRAPHIC RESEARCH SERVICES TARGET MARKET TRIPS - ENCOURAGE BUSINESS/INDUSTRY RELOCATION REPLY TO REQUESTS FOR RELOCATION/RETIREMENT INFORMATION ADVOCATE FOR LOCAL BUSINESSES AND AREA FOR LEGISLATION IMPROVE LOCAL TRANSPORTATION SYSTEM ENCOURAGE INVOLVEMENT OF MEMBERS IN CHAMBER ACTIVITIES BUSINESS NETWORKING OPPORTUNITIES HOST SPECIAL EVENTS TO BRING TOURISTS TO THE AREA
I. PROGRAMS AND EVENTS: BUSINESS AFTER HOURS-A POPULAR MONTHLY NETWORKING EVENT WHICH PROVIDES MEMBERS THE OPPORTUNITY TO NETWORK AND DEVELOP NEW BUSINESS CONTACTS. BUSINESS EXPO-A YEARLY EXPOSITION DESIGNED TO PROVIDE LOCAL BUSINESSES THE OPPORTUNITY TO EXPOSE THEIR PRODUCTS AND SERVICES TO THE COMMUNITY. SMALL BUSINESS SEMINARS-SEMINARS ARE CONDUCTED THROUGHOUT THE YEAR TO PROVIDE MANAGEMENT ASSISTANCE, USEFUL BUSINESS INFORMATION AND BUSINESS CONTACTS. COMMITTEE AND TAX FORCE PARTICIPATION-ON AN ANNUAL BASIS, MEMBERS ARE ASKED TO INDICATE THEIR AREA OF VOLUNTEER INTEREST, AND AS NEEDS ARISE, MEMBERS ARE NOTIFIED AND ASKED TO PARTICIPATE IN PROJECTS. II. PUBLICATIONS: THE CHAMBER PRODUCES A NUMBER OF PUBLICATIONS FOR MEMBERS AND IS CONSTANTLY WORKING TO IMPROVE THE CHAMBER'S WEBSITE TO BENEFIT THE MEMBERS. THE E- NEWSLETTERS AND MEMBERSHIP DIRECTORY ARE SENT TO ALL MEMBERS. ALL OTHER PUBLICATIONS ARE AVAILABLE UPON REQUEST. III. SERVICES: THE CHAMBER IS UNIQUE IN THE SERVICES IT PROVIDES ITS MEMBERS AND THE BUSINESS COMMUNITY SUCH AS THE FOLLOWING: MARKET AND DEMOGRAPHIC RESEARCH SERVICES TARGET MARKET TRIPS - ENCOURAGE BUSINESS/INDUSTRY RELOCATION REPLY TO REQUESTS FOR RELOCATION/RETIREMENT INFORMATION ADVOCATE FOR LOCAL BUSINESSES AND AREA FOR LEGISLATION IMPROVE LOCAL TRANSPORTATION SYSTEM ENCOURAGE INVOLVEMENT OF MEMBERS IN CHAMBER ACTIVITIES BUSINESS NETWORKING OPPORTUNITIES HOST SPECIAL EVENTS TO BRING TOURISTS TO THE AREA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Doug Ross Chairman | Trustee | $0 | |
Mary Currey Director | Trustee | $0 | |
Mark Curry Director | Trustee | $0 | |
Don Gooch Director | Trustee | $0 | |
Gary Troutman President | Officer | 40 | $154,489 |
Forrest Spicher Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $115,900 |
| 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 | $115,900 |
| Total Program Service Revenue | $859,789 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $169,492 |
| Net Income from Fundraising Events | -$50,508 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,110,158 |
| 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. | $154,489 |
| Compensation of current officers, directors, key employees. | $154,489 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $476,007 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $125,383 |
| Payroll taxes | $48,812 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,294 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $10,911 |
| Office expenses | $5,862 |
| Information technology | $4,008 |
| Royalties | $0 |
| Occupancy | $47,649 |
| Travel | $3,128 |
| 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 | $25,900 |
| Insurance | $5,164 |
| All other expenses | $5,804 |
| Total functional expenses | $1,007,848 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $50,648 |
| Savings and temporary cash investments | $50,500 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $52,636 |
| 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 | $34,079 |
| Net Land, buildings, and equipment | $380,863 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $35,700 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,212 |
| Total assets | $605,638 |
| Accounts payable and accrued expenses | $52,281 |
| Grants payable | $0 |
| Deferred revenue | $3,792 |
| 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 | $56,073 |
| Net assets without donor restrictions | $549,565 |
| 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 | $605,638 |