Abilene Chamber Of Commerce
- Assets
- $4.9m
- Revenue
- $6.2m
- Investments
- $141.0
- Employees
- 43
- Location
- Abilene, TX
- Founding
- 04/1941
- Data as of
- 09/2023
- EIN
- 75-0101260
Organization Overview
Abilene Chamber Of Commerce is located in Abilene, TX. The organization was established in 1941. 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 09/2023, Abilene Chamber Of Commerce employed 43 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Abilene 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 09/2023, Abilene Chamber Of Commerce generated $6.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $6.0m during the year ending 09/2023. While expenses have increased by 5.0% 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.
Since 2015, Abilene Chamber Of Commerce has awarded 63 individual grants totaling $1,183,765. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF ABILENE CHAMBER OF COMMERCE IS TO PROMOTE THE ECONOMY AND QUALITY OF LIFE IN ABILENE, TEXAS BY PROVIDING SERVICES TO LOCAL BUSINESSES, EDUCATIONAL OPPORTUNITIES, PROMOTING ABILENE AS A TRAVEL DESTINATION, AND PROMOTING CULTURAL ACTIVITIES AND ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONVENTION AND VISITORS SALES AND SERVICES - PROGRAMS WHICH CONTRACT WITH ASSOCIATIONS TO BRING CONVENTIONS TO ABILENE AND WHICH PROVIDE INFORMATION ABOUT THE COMMUNITY THROUGH BROCHURES AND VARIOUS ADVERTISING MEDIA TO PROMOTE TOURISM. THE PROGRAMS GOALS INCLUDE GENERATING OVERNIGHT STAYS IN ABILENE, THEREBY CONTRIBUTING TO THE OVERALL ECONOMY AND QUALITY OF LIFE.
CULTURAL AFFAIRS - PROGRAMS WHICH ENCOURAGE PARTICIPATION IN THE ARTS BY MAKING GRANTS TO VARIOUS ARTS ORGANIZATIONS, SPONSORING PERFORMING ARTS SERIES, SPONSORING AN OUTDOOR SCULPTURE PROJECT, TAKING PERFORMING ARTISTS INTO THE LOCAL SCHOOLS AND SPONSORING A CHILDRENS ART AND LITERACY FESTIVAL.
MILITARY AFFAIRS - A PROGRAM TO PROMOTE GOODWILL BETWEEN THE CITY AND PERSONNEL AT DYESS AIR FORCE BASE. THE PROGRAM SPONSORS AN ANNUAL BARBECUE FOR ACTIVE DUTY MILITARY PERSONNEL AND THEIR FAMILIES AND DEPARTMENT OF DEFENSE EMPLOYEES AND THEIR FAMILIES. THE PROGRAM ALSO SEEKS TO RETAIN AND EXPAND THE MISSION OF THE BASE, THEREBY CREATING LOCAL JOBS AND A STABLE ECONOMY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Doug Peters President And CEO | Officer | 23 | $276,813 |
Frances Williamson Vice President Administratio | Officer | 40 | $59,672 |
Katie Alford Director | Trustee | 1 | $0 |
David Bailey Director | Trustee | 1 | $0 |
Matt Beard Director | Trustee | 1 | $0 |
Amanda Oconnor Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $311,940 |
| All other contributions, gifts, grants, and similar amounts not included above | $726,505 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,038,445 |
| Total Program Service Revenue | $4,908,098 |
| Investment income | $23,579 |
| 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 | $6,161,492 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $336,089 |
| 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. | $369,026 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,408,918 |
| Pension plan accruals and contributions | $112,368 |
| Other employee benefits | $245,523 |
| Payroll taxes | $129,740 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $26,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $870,112 |
| Advertising and promotion | $398,512 |
| Office expenses | $172,804 |
| Information technology | $140,422 |
| Royalties | $0 |
| Occupancy | $82,643 |
| Travel | $248,866 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $107,905 |
| Interest | $22,120 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $257,684 |
| Insurance | $0 |
| All other expenses | $52,631 |
| Total functional expenses | $5,976,329 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,641,492 |
| Savings and temporary cash investments | $770,709 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $799,958 |
| 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 | $203,601 |
| Net Land, buildings, and equipment | $1,125,924 |
| Investments—publicly traded securities | $297,222 |
| Investments—other securities | $141 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $50,303 |
| Total assets | $4,889,350 |
| Accounts payable and accrued expenses | $306,568 |
| Grants payable | $0 |
| Deferred revenue | $131,945 |
| 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 | $140,910 |
| Other liabilities | $1,405,998 |
| Total liabilities | $1,985,421 |
| Net assets without donor restrictions | $2,903,929 |
| 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 | $4,889,350 |
Grants Awarded
Over the last fiscal year, Abilene Chamber Of Commerce has awarded $304,135 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
CENTER FOR CONTEMPORARY ART PURPOSE: Operation support | $23,763 |
ABILENE PHILHARMONIC ASSOC PURPOSE: Education program & guest artist | $21,863 |
GRACE MUSEUM PURPOSE: Exhibit Support | $25,912 |
ABILENE INDEPENDENT SCHOOL DISTRICT PURPOSE: Educational support | $5,000 |
NATIONAL CENTER FOR ILLUSTRATED LIT PURPOSE: Exhibit and operational support | $16,263 |
HISTORIC PARAMOUNT THEATRE PURPOSE: Operational Support | $6,000 |