Brownwood Chamber Of Commerce
- Assets
- $471.8k
- Revenue
- $414.3k
- Investments
- $0.0
- Employees
- 8
- Location
- Brownwood, TX
- Founding
- 04/1944
- Data as of
- 03/2021
- 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 03/2021, Brownwood Chamber Of Commerce employed 8 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 03/2021, Brownwood Chamber Of Commerce generated $414.3k 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 (7.6%) each year. All expenses for the organization totaled $645.2k during the year ending 03/2021. 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
PROMOTION OF TRADE AND COMMERCE IN THE BROWNWOOD AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CONVENTION AND VISITORS BUREAU PROGRAM PROMOTES TOURISM AND THE HOTEL AND LODGING INDUSTRY IN THE BROWNWOOD AREA. ADVERTISING IS PLACED THROUGH VARIOUS MEDIA TO ATTRACT VISITORS TO THE AREA. INFORMATION PIECES AND PROMOTIONAL LITERATURE IS DISTRIBUTED TO EVENT PARTICIPANTS, VISITORS AND POTENTIAL VISITORS. THE IMPACT ON THE LOCAL ECONOMY IS SIGNIFICANT WITH SEVERAL HUNDRED TOURISM INDUSTRY JOBS BEING GENERATED.
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.
THE LEGISLATIVE AFFAIRS PROGRAM KEEPS THE MEMBERSHIP UP TO DATE ON LEGISLATIVE DEVELOPMENTS THAT MIGHT AFFECT LOCAL BUSINESSES. THIS IS ACCOMPLISHED BY POOLING SPONSORSHIPS FROM LOCAL ENTITIES TO HIRE A CONSULTANT ON SITE AT THE STATE CAPITOL TO MONITOR LEGISLATION AND REPORT TO THE MEMBERSHIP. THE PROGRAM ALSO CONDUCTS A MEMBERSHIP TRIP TO THE STATE CAPITOL WHEN THE LEGISLATURE IS IN SESSION FOR LOCAL RESIDENTS AND BUSINESS LEADERS TO VIEW STATE GOVERNMENT IN ACTION AND MEET WITH THE AREA'S ELECTED REPRESENTATIVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cory Howard President | OfficerTrustee | 1 | $0 |
Dustin Larremore President Elect | Trustee | 1 | $0 |
Liz Brown Director | Trustee | 1 | $0 |
Juan Ozuna Director | Trustee | 1 | $0 |
Michelle Thomas Director | Trustee | 1 | $0 |
Brian Mccue Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $69,399 |
| Investment income | $2,693 |
| 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 | $414,319 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $183,143 |
| Pension plan accruals and contributions | $3,018 |
| Other employee benefits | $25,774 |
| Payroll taxes | $14,304 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,175 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $30,000 |
| Advertising and promotion | $66,211 |
| Office expenses | $3,177 |
| Information technology | $9,368 |
| Royalties | $0 |
| Occupancy | $29,245 |
| Travel | $687 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $784 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,802 |
| Insurance | $4,815 |
| All other expenses | $0 |
| Total functional expenses | $645,190 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $155,180 |
| Savings and temporary cash investments | $208,530 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,313 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $12,854 |
| Prepaid expenses and deferred charges | $57,269 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $471,829 |
| Accounts payable and accrued expenses | $63,585 |
| Grants payable | $0 |
| Deferred revenue | $45,167 |
| Tax-exempt bond liabilities | $10,911 |
| 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 | $46,400 |
| Other liabilities | $0 |
| Total liabilities | $166,063 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $305,766 |
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