The Fort Worth Chamber Of Commerce is located in Fort Worth, TX. The organization was established in 1934. 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 12/2020, Fort Worth Chamber Of Commerce employed 31 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fort Worth 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 12/2020, Fort Worth Chamber Of Commerce generated $4.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $3.8m during the year ending 12/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
IT IS THE MISSION OF THE FORT WORTH CHAMBER OF COMMERCE TO BRING THE FORT WORTH REGION TOGETHER TO IDENTIFY ISSUES, SOLVE PROBLEMS AND HELP ALIGN RESOURCES, RESULTING IN A STRONGER BUSINESS CLIMATE AND GREATER ECONOMIC PROSPERITY FOR ALL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACTIVITIES IN CONNECTION WITH THE PROMOTION OF THE CITY OF FORT WORTH. FACILITATION OF THE INTERCHANGE OF BUSINESS IDEAS & OTHER EFFORTS INTENDED TO GATHER BUSINESS INFORMATION, WHICH WILL LEAD TO AND DEVELOP A SYSTEM OF COMMERCIAL CONTACTS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
William J Thornton Jr President/ceo/director | OfficerTrustee | 40 | $495,782 |
Brandom Gengelbach Executive VP Economic Deve | Officer | 40 | $378,632 |
Christopher Strayer SVP Business Attraction & | Officer | 40 | $218,600 |
Patricia Steelman Executive VP & CFO | Officer | 40 | $188,958 |
Marilyn Gilbert Executive VP Marketing | Officer | 40 | $156,098 |
Katie Douglass Executive Vice President | Officer | 40 | $118,157 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
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 | $0 |
Total Program Service Revenue | $4,478,328 |
Investment income | $440 |
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 | $4,478,768 |
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. | $1,516,455 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $681,345 |
Pension plan accruals and contributions | $37,717 |
Other employee benefits | $187,546 |
Payroll taxes | $172,477 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $27,525 |
Fees for services: Lobbying | $900 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $168,060 |
Advertising and promotion | $0 |
Office expenses | $43,027 |
Information technology | $449 |
Royalties | $0 |
Occupancy | $254,603 |
Travel | $165,561 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $331,717 |
Interest | $25,753 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $11,824 |
Insurance | $0 |
All other expenses | $11,027 |
Total functional expenses | $3,830,332 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $1,005,395 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $25,893 |
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 | $26,226 |
Net Land, buildings, and equipment | $545,218 |
Investments—publicly traded securities | $815,181 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $2,417,913 |
Accounts payable and accrued expenses | $620,479 |
Grants payable | $0 |
Deferred revenue | $510,700 |
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 | $522,849 |
Total liabilities | $1,654,028 |
Net assets without donor restrictions | $339,704 |
Net assets with donor restrictions | $424,181 |
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 | $2,417,913 |
Over the last fiscal year, we have identified 1 grants that The Fort Worth Chamber Of Commerce has recieved totaling $13,500.
Awarding Organization | Amount |
---|---|
Texas Health Resources Arlington, TX PURPOSE: General Purpose | $13,500 |
Organization Name | Assets | Revenue |
---|---|---|
Texas Association Of Realtors Austin, TX | $94,503,864 | $29,443,210 |
Arlington Convention & Visitors Bureau Inc Arlington, TX | $3,519,065 | $16,656,136 |
Promotional Products Association International Irving, TX | $24,269,680 | $12,861,271 |
Greater Oklahoma City Chamber Of Commerce Oklahoma City, OK | $12,639,674 | $12,068,118 |
Chamber Of Commerce Metropolitan Tulsa Tulsa, OK | $9,253,345 | $10,228,951 |
Fort Worth Convention And Visitors Bureau Fort Worth, TX | $6,320,777 | $12,812,000 |
Austin Convention And Visitors Bureau Inc Austin, TX | $8,364,471 | $6,830,186 |
Texas Municipal League Austin, TX | $8,928,481 | $7,134,656 |
Greater Austin Chamber Of Commerce Austin, TX | $7,488,664 | $6,719,729 |
San Antonio Economic Development Foundation San Antonio, TX | $4,503,315 | $6,901,379 |
Abilene Chamber Of Commerce Abilene, TX | $4,194,863 | $4,866,648 |
Greater New Orleans Inc New Orleans, LA | $2,019,283 | $4,542,927 |