Chamber Of Commerce Norman
- Assets
- $1.2m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 8
- Location
- Norman, OK
- Founding
- 11/1935
- Data as of
- 12/2021
- 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 12/2021, Chamber Of Commerce Norman employed 8 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 12/2021, Chamber Of Commerce Norman generated $1.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $1.0m during the year ending 12/2021. While expenses have increased by 0.8% 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
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 |
|---|---|---|---|
Mandy Haws Chair Elect | Officer | 2 | $0 |
Scott Martin President | Officer | 40 | $0 |
Robyn Castleberry Vice Chairprograms | Officer | 2 | $0 |
Matt Clouse Chair | Officer | 2 | $0 |
Jim Wade Vice Chairgovernment Affairs | Officer | 2 | $0 |
Kevin Hopper Secetarytreasurer | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $459,207 |
| Fundraising events | $107,206 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $188,789 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $755,202 |
| Total Program Service Revenue | $179,795 |
| Investment income | $5,343 |
| 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 | $1,520,849 |
| 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. | $110,751 |
| Compensation of current officers, directors, key employees. | $66,451 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $242,097 |
| Pension plan accruals and contributions | $12,657 |
| Other employee benefits | $57,457 |
| Payroll taxes | $32,837 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8,407 |
| Office expenses | $21,654 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $43,451 |
| Travel | $4,817 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,878 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,898 |
| Insurance | $6,851 |
| All other expenses | $0 |
| Total functional expenses | $1,030,684 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $455,066 |
| Savings and temporary cash investments | $640,296 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $59,277 |
| 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 | $3,630 |
| Net Land, buildings, and equipment | $8,584 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,166,853 |
| Accounts payable and accrued expenses | $51,116 |
| Grants payable | $0 |
| Deferred revenue | $11,200 |
| 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 | $10,474 |
| Total liabilities | $72,790 |
| Net assets without donor restrictions | $1,044,333 |
| Net assets with donor restrictions | $49,730 |
| 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 | $1,166,853 |
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