Monroe Chamber Of Commerce Inc
- Assets
- $444.2k
- Revenue
- $650.6k
- Investments
- $0.0
- Employees
- 5
- Location
- Monroe, LA
- Founding
- 05/1945
- Data as of
- 12/2020
- EIN
- 72-0263750
Organization Overview
Monroe Chamber Of Commerce Inc is located in Monroe, LA. The organization was established in 1945. 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 12/2020, Monroe Chamber Of Commerce Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Monroe Chamber Of Commerce 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 12/2020, Monroe Chamber Of Commerce Inc generated $650.6k 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 (4.4%) each year. All expenses for the organization totaled $577.6k during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (6.1%) 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO ADVANCE AND PROTECT THE GENERAL WELFARE AND PROSPERITY OF OUACHITA PARISH AND THE SURROUNDING AREAS SO THAT THE BUSINESS COMMUNITY AND ITS CITIZENS SHALL PROSPER. ALL APPROPRIATE AND NECESSARY MEANS OF PROMOTION SHALL BE PROVIDED AND PARTICULAR ATTENTION SHALL BE GIVEN TO THE ECONOMIC, FINANCIAL, COMMERICAL, AGRICULTURAL, INDUSTRIAL, GOVERNMENTAL, EDUCATIONAL AND CIVIC ACTIVITIES OF THE REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WORKFORCE DEVELOPMENT DIVISION - SUPPORTED EDUCATIONAL AND WORKFORCE TRAINING NEEDS THROUGHOUT THE REGION SERVED BY THE CHAMBER. SOME OF THE PROGRAMS SPONSORED BY THE DIVISION ARE ACCENT ON EXCELLENCE BREAKFAST AND THE REGIONAL CAREER FAIR.
GOVERNMENT RELATIONS/AFFAIRS DIVISION - FOCUSED ON STATE, LOCAL AND FEDERAL GOVERNMENT INITIATIVES. THE CHAMBER HAD TWO REGISTERED STATE LOBBYIST ON STAFF. THESE INDIVIDUALS WERE IN BATON ROUGE DURING LEGISLATIVE SESSIONS AS NEEDED. THEY ALSO CONDUCTED AN ANNUAL NORTHERN EXPOSURE ADVOCACY TRIP TO THE STATE CAPITAL. ON THE LOCAL POINT, THE CHAMBER HAD AN AGREEMENT WITH THE CITY OF MONROE TO REPRESENT THE CITY IN THE AREAS OF ECONOMIC DEVELOPMENT, STATE AND FEDERAL ADVOCACY AND TRANSPORTATION AND INFASTRUCTURE. THE CHAMBER ALSO CONDUCTED ONE TRIP TO WASHINGTON, D.C. TO MEET WITH HOUSE AND SENATE MEMBERS AS WELL AS VARIOUS FEDERAL AGENCIES TO PROMOTE ISSUES OF CONCERN FOR OUR AREA.
MEMBERSHIP SERVICES DIVISION - BENEFITED MEMBERS OF THE CHAMBER BY PROVIDING VALUABLE INFORMATION THROUGH A WEEKLY NEWSLETTER AND A SEMI-ANNUAL NEWS MAGAZINE. THE CHAMBER ALSO PROVIDED LITERATURE TO ACQUAINT NEWCOMERS WITH OUACHITA PARISH. THE CHAMBER ALSO PROVIDED INFORMATION FOR MEMBERS AND NEWCOMERS ON THE ORGANIZATION'S WEBSITE.
WORKFORCE DEVELOPMENT DIVISION - SUPPORTED EDUCATIONAL AND WORKFORCE TRAINING NEEDS THROUGHOUT THE REGION SERVED BY THE CHAMBER. SOME OF THE PROGRAMS SPONSORED BY THE DIVISION ARE ACCENT ON EXCELLENCE BREAKFAST AND THE REGIONAL CAREER FAIR.
GOVERNMENT RELATIONS/AFFAIRS DIVISION - FOCUSED ON STATE, LOCAL AND FEDERAL GOVERNMENT INITIATIVES. THE CHAMBER HAD TWO REGISTERED STATE LOBBYIST ON STAFF. THESE INDIVIDUALS WERE IN BATON ROUGE DURING LEGISLATIVE SESSIONS AS NEEDED. THEY ALSO CONDUCTED AN ANNUAL NORTHERN EXPOSURE ADVOCACY TRIP TO THE STATE CAPITAL. ON THE LOCAL POINT, THE CHAMBER HAD AN AGREEMENT WITH THE CITY OF MONROE TO REPRESENT THE CITY IN THE AREAS OF ECONOMIC DEVELOPMENT, STATE AND FEDERAL ADVOCACY AND TRANSPORTATION AND INFASTRUCTURE. THE CHAMBER ALSO CONDUCTED ONE TRIP TO WASHINGTON, D.C. TO MEET WITH HOUSE AND SENATE MEMBERS AS WELL AS VARIOUS FEDERAL AGENCIES TO PROMOTE ISSUES OF CONCERN FOR OUR AREA.
MEMBERSHIP SERVICES DIVISION - BENEFITED MEMBERS OF THE CHAMBER BY PROVIDING VALUABLE INFORMATION THROUGH A WEEKLY NEWSLETTER AND A SEMI-ANNUAL NEWS MAGAZINE. THE CHAMBER ALSO PROVIDED LITERATURE TO ACQUAINT NEWCOMERS WITH OUACHITA PARISH. THE CHAMBER ALSO PROVIDED INFORMATION FOR MEMBERS AND NEWCOMERS ON THE ORGANIZATION'S WEBSITE.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sue Nicholson President & CEO | OfficerTrustee | 40 | $0 |
Jay Mulhern Workforce Dv VP | OfficerTrustee | 0 | $0 |
Adam Greene Communications | OfficerTrustee | 0 | $0 |
Terri Hicks Chairman | OfficerTrustee | 0 | $0 |
James Moore III Past Chairman | OfficerTrustee | 0 | $0 |
Jeremy Harrell Treasurer | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $53,450 |
| 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 | $53,450 |
| Total Program Service Revenue | $520,011 |
| Investment income | $23 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $77,111 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $650,595 |
| 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 | $209,691 |
| Pension plan accruals and contributions | $10,485 |
| Other employee benefits | $33,460 |
| Payroll taxes | $16,490 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,000 |
| Fees for services: Accounting | $23,348 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,000 |
| Advertising and promotion | $66,725 |
| Office expenses | $53,456 |
| Information technology | $6,502 |
| Royalties | $0 |
| Occupancy | $44,566 |
| Travel | $13,607 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $72,995 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,768 |
| Insurance | $7,962 |
| All other expenses | $0 |
| Total functional expenses | $577,592 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $399,484 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $29,163 |
| 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 | $5,559 |
| Net Land, buildings, and equipment | $9,963 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $444,169 |
| Accounts payable and accrued expenses | $2,310 |
| Grants payable | $0 |
| Deferred revenue | $81,862 |
| 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 | $150,000 |
| Total liabilities | $234,172 |
| Net assets without donor restrictions | $209,997 |
| 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 | $444,169 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Monroe Chamber Of Commerce Inc has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
Scott Foundation Inc Monroe, LA PURPOSE: EDUCATION | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dallas Convention & Visitors Bureau Dallas, TX | $16,156,055 | $23,486,746 |
Houston Association Of Realtors Houston, TX | $18,624,507 | $23,447,617 |
Texas Association Of Realtors Austin, TX | $94,503,864 | $29,443,210 |
Arlington Convention & Visitors Bureau Inc Arlington, TX | $3,519,065 | $16,656,136 |
Promotional Products Association International Irving, TX | $24,269,680 | $12,861,271 |
Fort Worth Convention And Visitors Bureau Fort Worth, TX | $6,320,777 | $12,812,000 |
Austin Convention And Visitors Bureau Inc Austin, TX | $8,364,471 | $6,830,186 |
Texas Municipal League Austin, TX | $8,928,481 | $7,134,656 |
Greater Austin Chamber Of Commerce Austin, TX | $7,488,664 | $6,719,729 |
Community Development Foundation Tupelo, MS | $26,378,062 | $9,486,414 |
San Antonio Economic Development Foundation San Antonio, TX | $4,503,315 | $6,901,379 |
Abilene Chamber Of Commerce Abilene, TX | $4,194,863 | $4,866,648 |