Texas Association Of Business
- Assets
- $7.4m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 14
- Location
- Austin, TX
- Founding
- 07/1943
- Data as of
- 12/2022
- EIN
- 74-0944130
Organization Overview
Texas Association Of Business is located in Austin, TX. The organization was established in 1943. 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, Texas Association Of Business employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Texas Association Of Business 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, Texas Association Of Business generated $3.6m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $3.5m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.7%) per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
AS THE STATE CHAMBER OF COMMERCE, TAB IS THE MOST INFLUENTIAL AND DOMINANT VOICE FOR PUBLIC POLICY ISSUES AFFECTING BUSINESS IN TEXAS. THROUGH PROVEN RESULTS-ORIENTED ADVOCACY AND MEMBER SERVICES, TAB DEVELOPS A CLIMATE IN TEXAS WHICH ENABLES MEMBERS AND THEIR EMPLOYEES TO OPERATE EFFICIENTLY AND PROFITABLY, THUS CREATING NEW JOBS. TAB IS PROUD TO BE THE OFFICIAL STATE PARTNER OF THE NATIONAL ASSOCIATION OF MANUFACTURERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL POLICY CONFERENCE: TAB HOSTED THE ANNUAL POLICY CONFERENCE, A FULL DAY EVENT COVERING POLICY RELATED ISSUES FROM THE BUSINESS PERSPECTIVE. AGENDA TOPICS INCLUDED ECONOMIC DEVELOPMENT, TRANSPORTATION AND INFRASTRUCTURE, SUPPLY CHAIN, WORKFORCE, FEDERAL POLICIES, AND HEALTHCARE.
BEST COMPANIES: TAB HOSTED THE BEST COMPANIES GALA, A DINNER EVENT AWARDING COMPANIES ACROSS SEVERAL AREAS IN THE SMALL, MEDIUM, AND LARGE CATEGORIES. COMPANIES ACROSS TEXAS PARTICIPATED.
EXECUTED A STUDY AND POLLING ON THE COST DRIVERS OF HEALTHCARE FOR EMPLOYERS AND THEIR EMPLOYEES AND RAISED AWARENESS TO THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Valentin Saul Director At Large | Trustee | 1 | $0 |
Tipps Mary Tort Reform Committee Chair | Trustee | 1 | $0 |
Tomlin Lincoln Executive Committee At Large | Trustee | 1 | $0 |
Torrison Melinda Executive Committee At Large | Trustee | 1 | $0 |
Turpin Mark Director At Large | Trustee | 1 | $0 |
Williams Julie Executive Committee At Large | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Loroff Enterprises Inc Accounting & Collection Services | 12/30/22 | $125,365 |
Precision Strategies Consulting Services | 12/30/22 | $200,000 |
Sonecon Llc Consulting Services | 12/30/22 | $110,000 |
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 | $20,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,000 |
| Total Program Service Revenue | $3,216,471 |
| Investment income | $120,951 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $318,900 |
| Net Gain/Loss on Asset Sales | -$102,526 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,609,804 |
| 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. | $633,054 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $624,416 |
| Pension plan accruals and contributions | $46,646 |
| Other employee benefits | $102,277 |
| Payroll taxes | $104,599 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $30,727 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $27,647 |
| Fees for services: Other | $299,085 |
| Advertising and promotion | $17,592 |
| Office expenses | $5,394 |
| Information technology | $7,384 |
| Royalties | $0 |
| Occupancy | $412,491 |
| Travel | $58,983 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $168,538 |
| Interest | $54,690 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $85,292 |
| Insurance | $43,408 |
| All other expenses | $96,758 |
| Total functional expenses | $3,460,709 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,521,938 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $267,970 |
| 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 | $5,800 |
| Net Land, buildings, and equipment | $581,130 |
| Investments—publicly traded securities | $2,789,530 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,187,477 |
| Total assets | $7,353,845 |
| Accounts payable and accrued expenses | $115,081 |
| Grants payable | $0 |
| Deferred revenue | $738,915 |
| 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 | $4,919,305 |
| Total liabilities | $5,773,301 |
| Net assets without donor restrictions | $1,580,544 |
| 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 | $7,353,845 |