Montgomery County Chamber Of Commerce Inc
- Assets
- $142.0k
- Revenue
- $493.4k
- Investments
- $0.0
- Employees
- 9
- Location
- Christiansburg, VA
- Founding
- Data as of
- 12/2023
- EIN
- 74-3030398
Organization Overview
Montgomery County Chamber Of Commerce Inc is located in Christiansburg, VA. As of 12/2023, Montgomery County Chamber Of Commerce Inc employed 9 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 12/2023, Montgomery County Chamber Of Commerce Inc generated $493.4k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $452.0k during the year ending 12/2023. While expenses have increased by 1.9% per year over the past 8 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
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 |
|---|---|---|---|
Steve M Baffuto President An | Officer | 40 | $81,327 |
Robyn Jones Chair | OfficerTrustee | 0.5 | $0 |
James Cabler Vice Chair | OfficerTrustee | 0.5 | $0 |
Reid Broughton Treasurer | OfficerTrustee | 0.5 | $0 |
Terry Vangelos Membership C | OfficerTrustee | 0.5 | $0 |
Devin Tobin Member-At-La | OfficerTrustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $247,518 |
| 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 | $247,518 |
| Total Program Service Revenue | $221,994 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $17,254 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $493,428 |
| 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. | $81,327 |
| Compensation of current officers, directors, key employees. | $30,229 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $139,609 |
| Pension plan accruals and contributions | $11,927 |
| Other employee benefits | $0 |
| Payroll taxes | $18,069 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,415 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $21 |
| Advertising and promotion | $1,972 |
| Office expenses | $10,610 |
| Information technology | $6,982 |
| Royalties | $0 |
| Occupancy | $62,898 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,299 |
| Interest | $124 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,910 |
| Insurance | $4,681 |
| All other expenses | $5,670 |
| Total functional expenses | $451,962 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $130,740 |
| Savings and temporary cash investments | $22 |
| 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 | $11,271 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $142,033 |
| Accounts payable and accrued expenses | $3,158 |
| 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 | $5,274 |
| Total liabilities | $8,432 |
| Net assets without donor restrictions | $133,601 |
| 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 | $142,033 |