Dallas Regional Chamber
- Assets
- $19.7m
- Revenue
- $12.4m
- Investments
- $0.0
- Employees
- 78
- Location
- Dallas, TX
- Founding
- 07/1935
- Data as of
- 12/2022
- EIN
- 75-0223440
Organization Overview
Dallas Regional Chamber is located in Dallas, TX. The organization was established in 1935. 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 12/2022, Dallas Regional Chamber employed 78 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dallas Regional Chamber 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 12/2022, Dallas Regional Chamber generated $12.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $12.1m during the year ending 12/2022. While expenses have increased by 5.1% 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 2018, Dallas Regional Chamber has awarded 18 individual grants totaling $610,000. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE DALLAS REGIONAL CHAMBER PROMOTES PROSPERITY TO THE GREATER DALLAS REGION THROUGH ECONOMIC DEVELOPMENT, EDUCATION, ... (CONTINUED ON SCHEDULE O)
Describe the Organization's Program Activity:
Part 3 - Line 4a
ECONOMIC DEVELOPMENT, INNOVATION & RESEARCH: THE DRC SUPPORTS THE REGION'S ECONOMIC GROWTH BY IDENTIFYING, RECRUITING, AND ASSISTING NEW COMPANIES TO RELOCATE TO THE REGION AND BECOME ENGAGED IN THE REGIONS BUSINESS COMMUNITY AND ACTIVITIES AS WELL AS HELPING THE COMPANIES IN THE REGION GROW AND EXPAND. DURING THE YEAR SEVERAL COMPANIES, INCLUDING CORPORATE HEADQUARTERS, RELOCATED OR EXPANDED IN THE DALLAS REGION.
DIVERSITY, EQUITY, INCLUSION & COMMUNITY ENGAGEMENT: THE DRC, WORKING WITH THE BUSINESS COMMUNITY MANAGES AND FACILITATES SEVERAL ACTIVITIES IN UNDERCHAMPIONED COMMUNITIES, ATTEMPTING TO EXPAND THE ECONOMIC DEVELOPMENT IN THESE AREAS. DURING THE YEAR, DRC FUNDED AND EXECUTED A HIGHLY SUCCESSFUL SOUTHERN DALLAS COUNTY ECONOMIC DEVELOPMENT WEBSITE AND WORKED DIRECTLY ON GETTING A PREMIUM GROCERY BRAND TO AGREE TO ESTABLISHING A STORE IN SOUTHERN DALLAS.
EDUCATION, WORKFORCE & TALENT ATTRACTION: THE DRC CONTINUES TO MANAGE AND FACILITATE PROGRAMS IN THE REGION THAT SUPPORT THE WORKFORCE AND TALENT REQUIREMENTS FOR BUSINESS, WITH A GOAL TO INCREASE THE NUMBER OF PEOPLE WHO EARN A LIVING WAGE. DURING THE YEAR, THE DRC CONTINUED WITH ITS PARTNERS DEVELOPING AND EXECUTING THE DALLAS THRIVES PROGRAM TO SUPPORT YOUNG ADULT WORKERS, PARTICULARLY IN INFORMATION TECHNOLOGY AND HEALTHCARE CAREERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dale Petroskey President & CEO | OfficerTrustee | 37 | $639,421 |
Angela Farley Coo/cfo | OfficerTrustee | 37 | $402,024 |
Michael Rosa SVP Economic Development | Officer | 39 | $270,813 |
Duane Dankesreiter SVP Bus Info & Research | Officer | 40 | $217,795 |
Matthew Garcia SVP - Public Policy | Officer | 40 | $236,627 |
Jessica Heer SVP Talent Attraction & Leader | Officer | 40 | $216,575 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $4,147,440 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $566,500 |
| Noncash contributions included in lines 1a–1f | $2,500 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,713,940 |
| Total Program Service Revenue | $6,858,660 |
| Investment income | $220,112 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$180,206 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,351,364 |
| 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. | $3,726,233 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,292,308 |
| Pension plan accruals and contributions | $220,049 |
| Other employee benefits | $511,708 |
| Payroll taxes | $437,109 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,723 |
| Fees for services: Accounting | $31,705 |
| Fees for services: Lobbying | $167,498 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $58,662 |
| Fees for services: Other | $469,970 |
| Advertising and promotion | $271,706 |
| Office expenses | $180,179 |
| Information technology | $72,560 |
| Royalties | $0 |
| Occupancy | $1,170,001 |
| Travel | $165,945 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,165,826 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $109,869 |
| Insurance | $53,141 |
| All other expenses | $0 |
| Total functional expenses | $12,119,192 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,345,114 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,182,443 |
| 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 | $475,315 |
| Net Land, buildings, and equipment | $92,667 |
| Investments—publicly traded securities | $8,549,583 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,057,896 |
| Total assets | $19,703,018 |
| Accounts payable and accrued expenses | $1,772,713 |
| Grants payable | $0 |
| Deferred revenue | $3,411,191 |
| 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 | $5,259,093 |
| Total liabilities | $10,442,997 |
| Net assets without donor restrictions | $8,945,331 |
| Net assets with donor restrictions | $314,690 |
| 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 | $19,703,018 |
Grants Awarded
Over the last fiscal year, Dallas Regional Chamber has awarded $245,000 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
INCLUSIVE COMMUNITIES PROJECT PURPOSE: Preserve & protect Floral Farms Space | $50,000 |
TENTH STREET RESIDENTIAL ORGANIZATION PURPOSE: Preserve the History of Freedman's Town | $10,000 |
THE CONCILIO PURPOSE: Extend Reach The Concilio Programs | $10,000 |
PUEDE NETWORK PURPOSE: Extending the Reach Scholars Program | $10,000 |
LOS BARRIOS UNIDOS COMMUNITY CLINIC PURPOSE: Stop spread Covid-19 in hard hit community | $25,000 |
THE UNIVERSITY OF TEXAS AT ARLINGTON PURPOSE: Graduate Research Assistant | $20,000 |