Laredo Chamber Of Commerce
- Assets
- $1.3m
- Revenue
- $797.3k
- Investments
- $0.0
- Employees
- 11
- Location
- Laredo, TX
- Founding
- 02/1971
- Data as of
- 09/2023
- EIN
- 74-0738180
Organization Overview
Laredo Chamber Of Commerce is located in Laredo, TX. The organization was established in 1971. 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 09/2023, Laredo Chamber Of Commerce employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Laredo 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 09/2023, Laredo Chamber Of Commerce generated $797.3k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $752.1k during the year ending 09/2023. 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
THE PRIMARY PURPOSE OF THE LAREDO CHAMBER OF COMMERCE IS TO PROVIDE VISION AND LEADERSHIP TO DEVELOP, ENCOURAGE, PROMOTE AND PROTECT THE BUSINESS, TOURISM, INDUSTRY AND EDUCATIONAL INTERESTS OF THE LAREDO METROPOLITAN AREA; TO ENCOURAGE THE ORDERLY DEVELOPMENT OF RESOURCES, PEOPLE, AND INFRASTRUCTURE OF THE AREA: AND TO BE A POLITICALLY PROACTIVE FORCE TO ENSURE THE SUCCESS OF THE LAREDO METROPOLITAN AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LAREDO CHAMBER OF COMMERCE PROMOTES LAREDO AND WEBB COUNTY AS PRIME LOCATIONS FOR CONDUCTING BUSINESS AND TRADE, AND AS DESTINATIONS FOR LEISURE PURPOSES.
THE LAREDO CHAMBER OF COMMERCE IS THE LEADING PROMOTER OF THE FREE ENTERPRISE SYSTEM IN THE COMMUNITY. IT WORKS TO PROMOTE THE ECONOMIC WELFARE OF THE AREA.
THE LAREDO CHAMBER OF COMMERCE WORKS TO EMPOWER AND EDUCATE FUTURE LEADERS OF LAREDO ABOUT CURRENT ISSUES AFFECTING THE COMMUNITY. IN ADDITION, THE CHAMBER CREATES AWARENESS AND ACTION AMONG ITS MEMBERS AND THE COMMUNITY SERVICE PROVIDERS OF THE NEED FOR DELIVERING EXCELLENT CUSTOMER SERVICE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Miguel A Conchas Past President | Officer | 40 | $68,409 |
Gabriela Morales Past President | Officer | 40 | $31,598 |
Monica Y Martinez Executive Dir. | Officer | 40 | $7,615 |
Juan Arroyo Director | Trustee | 1 | $0 |
David Puig Director | Trustee | 1 | $0 |
Oscar Caballero Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| 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 | $0 |
| Total Program Service Revenue | $751,087 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $14,092 |
| 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 | $797,337 |
| 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. | $107,622 |
| Compensation of current officers, directors, key employees. | $107,622 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $146,673 |
| Pension plan accruals and contributions | $8,042 |
| Other employee benefits | $24,212 |
| Payroll taxes | $14,261 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,395 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,057 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,212 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,709 |
| Insurance | $2,802 |
| All other expenses | $87,262 |
| Total functional expenses | $752,075 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $231,888 |
| Savings and temporary cash investments | $129,899 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $158,850 |
| 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 | $5,452 |
| Net Land, buildings, and equipment | $784,305 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,310,394 |
| Accounts payable and accrued expenses | $59,427 |
| Grants payable | $0 |
| Deferred revenue | $18,683 |
| 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 | $34,624 |
| Other liabilities | $0 |
| Total liabilities | $112,734 |
| Net assets without donor restrictions | $1,197,660 |
| 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 | $1,310,394 |