Brownwood Chamber Of Commerce
- Assets
- $383.0k
- Revenue
- $601.0k
- Investments
- $0.0
- Employees
- 7
- Location
- Brownwood, TX
- Founding
- 04/1944
- Data as of
- 03/2023
- EIN
- 75-0160700
Organization Overview
Brownwood Chamber Of Commerce is located in Brownwood, TX. The organization was established in 1944. 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 03/2023, Brownwood Chamber Of Commerce employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Brownwood 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 03/2023, Brownwood Chamber Of Commerce generated $601.0k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 13.2% each year . All expenses for the organization totaled $609.7k during the year ending 03/2023. 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
PROMOTION OF TRADE AND COMMERCE IN THE BROWNWOOD AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBERSHIP ACTIVITIES PROGRAM INCLUDES VARIOUS NETWORKING AND EDUCATIONAL OPPORTUNITIES FOR THE DIRECT BENEFIT OF MEMBERS. ACTIVITIES INCLUDE VARIOUS BREAKFAST AND LUNCH MEETINGS, A BUSINESS SHOWCASE EVENT, WELCOME EVENTS FOR INTERACTION WITH NEW COMMUNITY MEMBERS, LEADERSHIP PROGRAMS, A PROFESSIONAL WOMEN'S SUMMIT, AN ANNUAL AWARDS BANQUET AND OTHER ACTIVITIES. OVER 500 MEMBERS WERE SERVED BY THESE MEMBERSHIP ACTIVITIES.
BMDD GRANT PASSTHROUGH
VARIOUS SMALL MEMBERSHIP PROGRAMS AND EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mitch Moore Director | Trustee | 1 | $0 |
Dustin Larremore President | OfficerTrustee | 1 | $0 |
Dayna Prochaska Director | Trustee | 1 | $0 |
Lori Mccrane Director | Trustee | 1 | $0 |
Michelle Thomas President Elect | OfficerTrustee | 1 | $0 |
Mickel Perkins Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $90,235 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $160,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $160,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $250,235 |
| Total Program Service Revenue | $330,923 |
| Investment income | $1,057 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,653 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$7,442 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $601,041 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $160,000 |
| 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 | $132,965 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $11,190 |
| Payroll taxes | $12,396 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,365 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $5,897 |
| Information technology | $14,493 |
| Royalties | $0 |
| Occupancy | $15,762 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $235 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,093 |
| Insurance | $974 |
| All other expenses | $21,344 |
| Total functional expenses | $609,654 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $151,186 |
| Savings and temporary cash investments | $154,255 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,900 |
| 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 | $64,864 |
| Net Land, buildings, and equipment | $8,834 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $383,039 |
| Accounts payable and accrued expenses | $13,891 |
| Grants payable | $0 |
| Deferred revenue | $70,748 |
| 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 | $1,060 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $85,699 |
| Net assets without donor restrictions | $297,340 |
| 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 | $383,039 |