Wharton Chamber Of Commerce
- Assets
- $90.2k
- Revenue
- $226.0k
- Investments
- $0.0
- Employees
- 3
- Location
- Wharton, TX
- Founding
- 00/0000
- Data as of
- 09/2022
- EIN
- 74-0981880
Organization Overview
Wharton Chamber Of Commerce is located in Wharton, TX. The organization was established in 0000. 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 09/2022, Wharton Chamber Of Commerce employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wharton 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 09/2022, Wharton Chamber Of Commerce generated $226.0k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.1%) each year. All expenses for the organization totaled $246.5k during the year ending 09/2022. As we would expect to see with falling revenues, expenses have declined by (0.1%) 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
PROMOTING THE CITY OF WHARTON FOR TOURISM AND INDUSTRIAL PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION HELD ITS ANNUAL BANQUET AND GOLF TOURNAMENT AS WELL AS PARTICIPATING IN CITY FESTIVALS AND EVENTS. IN ADDITION, QUARTERLY BUSINESS LUNCHEONS WERE HOSTED BY THE CHAMBER OF COMMERCE TO BRING TOGETHER CURRENT AND POTENTIAL BUSINESS LEADERS IN AN ATMOSPHERE THAT IS CONDUCIVE TO ATTRACTING NEW INDUSTRY TO THE CITY OF WHARTON. THE LUNCHEONS ALSO SERVE AS A MEETING WHERE WAYS OF IMPROVING BUSINESS CONDITIONS CAN BE DISCUSSED.
TO PROMOTE TOURISM IN WHARTON, VARIOUS ADVERTISING METHODS WERE EMPLOYED, INCLUDING BILLBOARDS, CITY ENTRANCE SIGNS AND "WELCOME TO WHARTON" STREET BANNERS. ANOTHER ACTIVITY DESIGNED TO BE HELPFUL TO VISITORS IS PLACING VISITORS INFORMATION KIOSKS AT VARIOUS LOCATIONS IN AND AROUND WHARTON. THE KIOSKS WERE KEPT STOCKED WITH INFORMATIVE PAMPHLETS AND BROCHURES.
WEBSITE ADVERTISING FOR VARIOUS BUSINESSES IN WHARTON AND SURROUNDING COMMUNITY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chad Faucett Chair | OfficerTrustee | $0 | |
Bill Wallace Treasurer | OfficerTrustee | $0 | |
David Tripulas DDS Director | Trustee | $0 | |
Laci Border Director | Trustee | $0 | |
Debra Evans Director | Trustee | $0 | |
Debbie Folks Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $60,000 |
| 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 | $60,000 |
| Total Program Service Revenue | $159,428 |
| Investment income | $1 |
| 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 | $226,006 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $84,957 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,196 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $222 |
| Fees for services: Accounting | $3,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $780 |
| Advertising and promotion | $0 |
| Office expenses | $6,864 |
| Information technology | $7,123 |
| Royalties | $0 |
| Occupancy | $27,288 |
| Travel | $35 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,482 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,171 |
| Insurance | $9,727 |
| All other expenses | $129 |
| Total functional expenses | $246,547 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $71,287 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,526 |
| 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 | $0 |
| Net Land, buildings, and equipment | $16,414 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $90,227 |
| Accounts payable and accrued expenses | $276 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $2,670 |
| Total liabilities | $2,946 |
| Net assets without donor restrictions | $87,281 |
| 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 | $90,227 |
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