Montgomery County Chamber Of Commerce Inc
- Assets
- $126.3k
- Revenue
- $424.1k
- Investments
- $0.0
- Employees
- 7
- Location
- Christiansburg, VA
- Founding
- Data as of
- 12/2021
- EIN
- 74-3030398
Organization Overview
Montgomery County Chamber Of Commerce Inc is located in Christiansburg, VA. As of 12/2021, Montgomery County Chamber Of Commerce Inc employed 7 individuals. Montgomery County Chamber Of Commerce Inc 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, Montgomery County Chamber Of Commerce Inc generated $424.1k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $410.7k during the year ending 12/2021. While expenses have increased by 0.9% per year over the past 6 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
TO PROMOTE A POSITIVE ENVIRONMENT FOR THE OPERATION AND GROWTH OF BUSINESS IN MONTGOMERY COUNTY AND THE NEW RIVER VALLEY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOSTER AND PROMOTE THE GENERAL WELFARE OF THE NEW RIVER VALLEY ECONOMIC REGION SO THAT ITS CITIZENS AND ALL AREAS OF ITS BUSINESS COMMUNITY SHALL PROSPER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sharon G Scott Prior Execut | Officer | 40 | $58,118 |
Steve M Baffuto Executive Di | Officer | 40 | $3,850 |
Henry Bass Chair | OfficerTrustee | 0.5 | $0 |
James Cabler Membership D | OfficerTrustee | 0.5 | $0 |
Kelly Kendrick Treasurer | OfficerTrustee | 0.5 | $0 |
Aaron Kirby Past-Chair | OfficerTrustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $183,600 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $81,150 |
| 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 | $264,750 |
| Total Program Service Revenue | $143,218 |
| Investment income | $9 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $13,807 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $424,133 |
| 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. | $61,968 |
| Compensation of current officers, directors, key employees. | $18,783 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $129,645 |
| Pension plan accruals and contributions | $12,372 |
| Other employee benefits | $0 |
| Payroll taxes | $17,354 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,855 |
| Fees for services: Accounting | $500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $534 |
| Advertising and promotion | $1,006 |
| Office expenses | $12,926 |
| Information technology | $5,045 |
| Royalties | $0 |
| Occupancy | $62,958 |
| Travel | $1,710 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,651 |
| Interest | $181 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,627 |
| Insurance | $4,456 |
| All other expenses | $4,455 |
| Total functional expenses | $410,674 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $109,153 |
| Savings and temporary cash investments | $21 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $17,095 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $126,269 |
| Accounts payable and accrued expenses | $3,717 |
| 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 | $9,672 |
| Total liabilities | $13,389 |
| Net assets without donor restrictions | $112,880 |
| 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 | $126,269 |
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