Chamber Of Commerce Norman
- Assets
- $966.7k
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 7
- Location
- Norman, OK
- Founding
- 11/1935
- Data as of
- 12/2022
- EIN
- 73-0374880
Organization Overview
Chamber Of Commerce Norman is located in Norman, OK. The organization was established in 1935. 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 12/2022, Chamber Of Commerce Norman employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chamber Of Commerce Norman 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 12/2022, Chamber Of Commerce Norman generated $1.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $1.2m during the year ending 12/2022. While expenses have increased by 3.3% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE BUSINESS AND CIVIC INTERESTS AND GENERAL WELFARE OF NORMAN AND CLEVELAND COUNTY, OK
Describe the Organization's Program Activity:
Part 3 - Line 4a
REFERRALS, NETWORKING, PUBLICATIONS, MAILINGS, BUSINESS PROMOTION AND DEVELOPMENT, COMMUNITY SERVICES, LEADERSHIP TRAINING, AND SPECIAL EVENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chuck Thompson Ex-Officios Sooner Centurion | Trustee | 1 | $0 |
Shavonne Evans Ex-Officio Norman Next | Trustee | 1 | $0 |
Jared Garner Baord Member | Trustee | 1 | $0 |
Brian Ruttman Ex-Officio Board Member | Trustee | 1 | $0 |
Harold Heiple Past Chair | Trustee | 0 | $0 |
Mile Fowler Past Chair | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $406,786 |
| Fundraising events | $124,516 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $191,475 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $722,777 |
| Total Program Service Revenue | $240,075 |
| Investment income | $3,358 |
| 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 | $1,018,588 |
| 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. | $113,427 |
| Compensation of current officers, directors, key employees. | $68,056 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $276,604 |
| Pension plan accruals and contributions | $12,658 |
| Other employee benefits | $77,039 |
| Payroll taxes | $32,836 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,032 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $18,804 |
| Office expenses | $12,238 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $56,232 |
| Travel | $5,827 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $26,478 |
| Interest | $10,293 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,644 |
| Insurance | $4,548 |
| All other expenses | $41,315 |
| Total functional expenses | $1,215,678 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $253,028 |
| Savings and temporary cash investments | $642,342 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $43,462 |
| 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 | $3,328 |
| Net Land, buildings, and equipment | $24,581 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $966,741 |
| Accounts payable and accrued expenses | $42,614 |
| Grants payable | $0 |
| Deferred revenue | $14,570 |
| 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 | $12,585 |
| Total liabilities | $69,769 |
| Net assets without donor restrictions | $846,834 |
| Net assets with donor restrictions | $50,138 |
| 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 | $966,741 |