Waco Chamber Of Commerce
- Assets
- $3.5m
- Revenue
- $4.3m
- Investments
- $0.0
- Employees
- 20
- Location
- Waco, TX
- Founding
- 02/1936
- Data as of
- 12/2023
- EIN
- 74-0967440
Organization Overview
Waco Chamber Of Commerce is located in Waco, TX. The organization was established in 1936. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Waco Chamber Of Commerce employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Waco 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 12/2023, Waco Chamber Of Commerce generated $4.3m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $4.2m during the year ending 12/2023. While expenses have increased by 2.6% per year over the past 5 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE COMMERCE & ECO DEV IN WACO
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE COMMERCE & ECONOMIC DEVELOPMENT IN WACO, TEXAS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jason Powers VP | Officer | 40 | $99,307 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Kristina Collins VP | Officer | 40 | $178,244 |
Matthew Meadors CEO | Officer | 40 | $271,057 |
Seth Morris VP | Officer | 40 | $110,833 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $835,677 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $529,150 |
| All other contributions, gifts, grants, and similar amounts not included above | $823,267 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,188,094 |
| Total Program Service Revenue | $2,002,680 |
| Investment income | $75,026 |
| 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 | $4,276,316 |
| 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. | $659,441 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $1,113,100 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $133,760 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $33,151 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $43,872 |
| Information technology | $25,473 |
| Royalties | $0 |
| Occupancy | $227,002 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,239 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $22,457 |
| Insurance | $42,444 |
| All other expenses | $1,820,449 |
| Total functional expenses | $4,174,666 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,393,364 |
| Savings and temporary cash investments | $1,609,698 |
| Pledges and grants receivable | $411,915 |
| Accounts receivable, net | $0 |
| 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 | $43,025 |
| Net Land, buildings, and equipment | $74,098 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,532,100 |
| Accounts payable and accrued expenses | $51,910 |
| Grants payable | $0 |
| Deferred revenue | $1,101,227 |
| 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 | $28,288 |
| Unsecured mortgages and notes payable | $150,000 |
| Other liabilities | $0 |
| Total liabilities | $1,331,425 |
| Net assets without donor restrictions | $2,200,675 |
| 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 | $3,532,100 |