Amarillo Chamber Of Commerce
- Assets
- $1.5m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 8
- Location
- Amarillo, TX
- Founding
- 05/1945
- Data as of
- 09/2023
- EIN
- 75-0109485
Organization Overview
Amarillo Chamber Of Commerce is located in Amarillo, TX. The organization was established in 1945. 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, Amarillo Chamber Of Commerce employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Amarillo 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, Amarillo Chamber Of Commerce generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (13.6%) each year. All expenses for the organization totaled $1.1m during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (15.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Amarillo Chamber Of Commerce has awarded 38 individual grants totaling $409,000. 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
OUR MISSION IS TO ENHANCE BUSINESS AND INDUSTRY GROWTH WHILE PRESERVING A HIGH QUALITY OF LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GENERAL DEVELOPMENT AND PROMOTION OF BUSINESS AND ECONOMY IN THE AMARILLO METROPOLITAN AREA.
PROGRAM SERVICE
WEBLINK ADVERTISING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jason Harrison President & | Officer | 40 | $164,237 |
Chris Reed Past Chair | OfficerTrustee | 1 | $0 |
John Luciano Chair | OfficerTrustee | 1 | $0 |
Spanky Assiter Chair Elect | OfficerTrustee | 1 | $0 |
Wes Wright Business Cha | OfficerTrustee | 1 | $0 |
Julie Imke Membership C | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $493,908 |
| Fundraising events | $166,150 |
| Related organizations | $0 |
| Government grants | $294,681 |
| 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 | $954,739 |
| Total Program Service Revenue | $292,978 |
| Investment income | $54,421 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $14,613 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,319,003 |
| 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. | $187,970 |
| Compensation of current officers, directors, key employees. | $48,872 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $444,872 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $149,360 |
| Payroll taxes | $47,501 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $59,032 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,330 |
| Office expenses | $34,830 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $45,026 |
| Travel | $17,583 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,940 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,353 |
| Insurance | $5,670 |
| All other expenses | $0 |
| Total functional expenses | $1,124,085 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $750 |
| Savings and temporary cash investments | $1,285,843 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $107,244 |
| 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 | $42,456 |
| Net Land, buildings, and equipment | $4,538 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $22,361 |
| Total assets | $1,463,192 |
| Accounts payable and accrued expenses | $119,597 |
| Grants payable | $0 |
| Deferred revenue | $289,574 |
| 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 | $39,220 |
| Total liabilities | $448,391 |
| Net assets without donor restrictions | $1,014,801 |
| 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 | $1,463,192 |
Grants Awarded
Over the last fiscal year, Amarillo Chamber Of Commerce has awarded $74,000 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
PANHANDLE PLAINS HISTORICAL SOCIETY PURPOSE: GENERAL SUPPORT | $10,000 |
AMARILLO SYMPHONY INC PURPOSE: GENERAL SUPPORT | $10,000 |
AMARILLO OPERA INC PURPOSE: GENERAL SUPPORT | $8,000 |
LONE STAR BALLET INC PURPOSE: GENERAL SUPPORT | $9,000 |
AMERICAN QUARTER HORSE ASSOCIATION PURPOSE: GENERAL SUPPORT | $9,000 |
AMARILLO MUSEUM OF ART PURPOSE: GENERAL SUPPORT | $10,000 |