Midland Chamber Of Commerce
- Assets
- $976.0k
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 34
- Location
- Midland, TX
- Founding
- 10/1932
- Data as of
- 09/2023
- EIN
- 75-0436936
Organization Overview
Midland Chamber Of Commerce is located in Midland, TX. The organization was established in 1932. 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, Midland Chamber Of Commerce employed 34 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Midland 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, Midland Chamber Of Commerce generated $2.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $2.5m during the year ending 09/2023. While expenses have increased by 0.7% 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, Midland Chamber Of Commerce has awarded 14 individual grants totaling $336,385. 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
THE MIDLAND CHAMBER OF COMMERCE PROVIDES RESOURCES AND SERVICES TO PROMOTE AND FOSTER BUSINESS GROWTH AND SUCCESS FOR ITS MEMBERS AND THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CHAMBER OF COMMERCE OPERATES A CONVENTION AND VISITORS BUREAU TO ENCOURAGE ECONOMIC GROWTH BY DEVELOPING, PROMOTING, ENHANCING, AND SUPPORTING MIDLAND AS A VIBRANT VISITOR DESTINATION.
THE CHAMBER OF COMMERCE OFFERS EVENTS THAT PROVIDE VALUABLE LEARNING, PROMOTIONAL, AND NETWORKING OPPORTUNITIES TO MEMBERS.
THE MIDLAND CHAMBER OF COMMERCE SPONSORS THE MIDLAND CONVENTION AND VISITORS BUREAU'S SPORTS & ENTERTAINMENT ASSOCIATION OF MIDLAND. THIS PROGRAM WAS ESTABLISHED TO PROMOTE AND ENHANCE SPORTS AND ENTERTAINMENT IN THE MIDLAND AREA BY BRINGING IN AND SUPPORTING QUALITY ATHLETIC AND ENTERTAINMENT EVENTS FOR THE PURPOSE OF ENHANCING ECONOMIC IMPACT IN THE MIDLAND AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Abraham Gutierrez Chair | OfficerTrustee | 4 | $0 |
Adrian Carrasco Vice Chair - Business Support | OfficerTrustee | 1 | $0 |
Brian Stubbs Vice Chair - Promotion | OfficerTrustee | 1 | $0 |
Chad Mcallaster Member At-Large | Trustee | 1 | $0 |
Cole Harrison Vice Chair - Advocacy | OfficerTrustee | 1 | $0 |
Darin Wood Vice Chair - Community Development | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $534,596 |
| 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 | $534,596 |
| Total Program Service Revenue | $1,976,925 |
| Investment income | $0 |
| 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 | $2,511,521 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $67,485 |
| 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 | $1,175,392 |
| Pension plan accruals and contributions | $71,902 |
| Other employee benefits | $85,752 |
| Payroll taxes | $93,328 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,679 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,425 |
| Advertising and promotion | $2,377 |
| Office expenses | $22,678 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $75,000 |
| Travel | $18,513 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,765 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $19,841 |
| All other expenses | $78,678 |
| Total functional expenses | $2,517,885 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $976,008 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $976,008 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $826,008 |
| Net assets with donor restrictions | $150,000 |
| 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 | $976,008 |
Grants Awarded
Over the last fiscal year, Midland Chamber Of Commerce has awarded $50,781 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
MIDLAND HISPANIC CHAMBER PURPOSE: OFFSET COSTS FOR SPORTS AND ENTERTAINMENT EVENTS IN MIDLAND | $13,248 |
MIDLAND UNITED GIRLS SOFTBALL ASSOCIATION PURPOSE: OFFSET COSTS FOR SPORTS AND ENTERTAINMENT EVENTS IN MIDLAND | $29,650 |
URGENT FURY LLC PURPOSE: OFFSET COSTS FOR SPORTS AND ENTERTAINMENT EVENTS IN MIDLAND | $7,883 |