Greater Iberia Chamber Of Commerce
- Assets
- $377.0k
- Revenue
- $325.3k
- Investments
- $0.0
- Employees
- 5
- Location
- New Iberia, LA
- Founding
- 09/1995
- Data as of
- 12/2021
- EIN
- 72-0366308
Organization Overview
Greater Iberia Chamber Of Commerce is located in New Iberia, LA. The organization was established in 1995. 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 12/2021, Greater Iberia Chamber Of Commerce employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Iberia 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 12/2021, Greater Iberia Chamber Of Commerce generated $325.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $259.3k during the year ending 12/2021. While expenses have increased by 1.9% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
A PROACTIVE AND SERVICE-ORIENTED ORGANIZATION COMMITTED TO THE PROSPERITY OF IBERIA PARISH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPECIAL EVENTS, INCLUDING EGGS N ISSUES (BREAKFAST MEETINGS WITH GUEST SPEAKERS TO INFORM MEMBERS OF CURRENT ISSUES FACING THE BUSINESS AND LOCAL COMMUNITY); BUSINESS AFTER HOURS (SOCIAL EVENT SPONSORED BY ONE MEMBER THAT EDUCATES THE GENERAL MEMBERSHIP OF THAT MEMBER'S BUSINESS); EVENT AND DEBATE FORUMS (NONPARTISAN EVENTS TO INFORM THE GENERAL MEMBERSHIP OF CURRENT ISSUES AND CANDIDATES)
LEADERSHIP IBERIA IS A COMMUNITY LEADERSHIP PROGRAM. IT'S MISSION IS TO BUILD A STRONG SENSE OF COMMUNITY TRUSTEESHIP BY CREATING AND EMPOWERING A BROAD NETWORK OF WELL INFORMED LEADERS, WHOSE STRENGTHENED COMMITMENT TO COMMUNITY INVOLVEMENT WILL AFFECT POSITIVE CHANGE FOR THE COMMUNITY AND GENERAL MEMBERSHIP.
THE ANNUAL BANQUET IS A CHANCE FOR THE GENERAL MEMBERSHIP TO REVIEW THE PREVIOUS YEAR, DISCUSS PLANS FOR THE FUTURE, AND HONOR ITS LOCAL LEADERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Janet Faulk President/ceo(outgoing) | Officer | 40 | $48,772 |
Thomas Falgout President/ceo | Officer | 40 | $19,150 |
Farrell Armentor Second Chair | OfficerTrustee | 1 | $0 |
Shalee Landry Treasurer | OfficerTrustee | 1 | $0 |
Mark Boyance Past Chairman | OfficerTrustee | 1 | $0 |
Lennie Fields First Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $83,949 |
| Fundraising events | $38,100 |
| Related organizations | $0 |
| Government grants | $87,375 |
| All other contributions, gifts, grants, and similar amounts not included above | $22,137 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $231,561 |
| Total Program Service Revenue | $62,859 |
| Investment income | $1,846 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $29,048 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $325,314 |
| 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. | $67,922 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $65,474 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $11,499 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $19,200 |
| Advertising and promotion | $0 |
| Office expenses | $2,095 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,887 |
| Travel | $0 |
| 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 | $3,196 |
| Insurance | $6,105 |
| All other expenses | $13,808 |
| Total functional expenses | $259,334 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $77,688 |
| Savings and temporary cash investments | $234,432 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,562 |
| 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 | $3,626 |
| Net Land, buildings, and equipment | $47,731 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $377,039 |
| Accounts payable and accrued expenses | $1,319 |
| Grants payable | $0 |
| Deferred revenue | $29,132 |
| 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 | $30,451 |
| Net assets without donor restrictions | $321,440 |
| Net assets with donor restrictions | $25,148 |
| 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 | $377,039 |
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