Monahans Chamber Of Commerce
- Assets
- $1.0m
- Revenue
- $535.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Monahans, TX
- Founding
- 04/1955
- Data as of
- 12/2022
- EIN
- 75-0444711
Organization Overview
Monahans Chamber Of Commerce is located in Monahans, TX. The organization was established in 1955. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Monahans 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 12/2022, Monahans Chamber Of Commerce generated $535.6k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.0% each year . All expenses for the organization totaled $471.1k during the year ending 12/2022. While expenses have increased by 7.4% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESERVE AND CONTINUE TO IMPROVE THE ECONOMIC AND SOCIAL WELL-BEING OF OUR COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHAMBER OF COMMERCE:THE CHAMBER BRINGS ACTIVITIES AND EVENTS THAT PRESERVE AND CONTINUE TO IMPROVE THE ECONOMIC AND SOCIAL WELL-BEING OF THE COMMUNITY.
WOMEN'S DIVISION OF THE CHAMBER:THIS ORGANIZATION'S GOAL IS TO HELP IMPROVE THE QUALITY OF LIFE IN MONAHANS BY TAKING ON PROJECTS THAT REQUIRE A BROAD BASE OF VOLUNTEERS AND ACTION. THE WOMEN'S DIVISION HAS TAKEN ON THE TASK OF HELPING FEED NEEDY CHILDREN DURING THE SCHOOL OFF SEASON TO INSURE THAT THOSE CHILDREN THAT WERE RECEIVING FREE AND REDUCED PRICE LUNCHES WITH HAVE A MEAL DURING THE SCHOOL BREAK. THIS PROGRAM IS CALLED "FOOD 2 KIDS". THE WOMEN'S DIVISION ALSO HELPS WITH MANY CIVIC EVENTS AND THE "BEAUTIFICATION" PROJECTS.
TOURISM:TO PROMOTE THE COMMUNITY IN ORDER TO ATTRACT VISITORS TO THE CITY BY SUPPORTING ALL ENVENTS THAT BRING IN VISITORS FORM THE OIL AND GAS INDUSTRY, THE SCHOOLS AND SPORTING EVENTS, THE MONAHANS SANDHILLS STATE PARK, THE MILLION BARREL MUSEUM, THE RATTLESNAKE BOMBER BASE WORLD WAR II MUSEUM AND THE RANCHING INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy Upchurch President | OfficerTrustee | 1 | $0 |
Randy Crabtree Past President | OfficerTrustee | 1 | $0 |
Carrie Fonseca President Elect | OfficerTrustee | 1 | $0 |
Hal Upchurch Vice President | OfficerTrustee | 1 | $0 |
Kathy Fausett Treasurer | OfficerTrustee | 1 | $0 |
Camilla Blum Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $88,894 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $195,295 |
| All other contributions, gifts, grants, and similar amounts not included above | $93,022 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $377,211 |
| Total Program Service Revenue | $91,933 |
| Investment income | $42 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $66,430 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $535,616 |
| 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. | $85,669 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $78,149 |
| Pension plan accruals and contributions | $4,496 |
| Other employee benefits | $1,221 |
| Payroll taxes | $12,877 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,320 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $44,120 |
| Office expenses | $24,738 |
| Information technology | $7,784 |
| Royalties | $0 |
| Occupancy | $43 |
| Travel | $75 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $310 |
| Insurance | $14,313 |
| All other expenses | $4,892 |
| Total functional expenses | $471,059 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,018,702 |
| Savings and temporary cash investments | $10,668 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6 |
| 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 | $1,031 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,030,407 |
| Accounts payable and accrued expenses | $1,531 |
| 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 | $1,531 |
| Net assets without donor restrictions | $747,827 |
| Net assets with donor restrictions | $281,049 |
| 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 | $1,030,407 |
Grants Awarded
Over the last fiscal year, Monahans Chamber Of Commerce has awarded $7,631 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
WEST TEXAS FOOD BANK - FOOD 2 KIDS PURPOSE: To feed disadvantaged kids. | $7,631 |