Palestine Area Chamber Of Commerce is located in Palestine, TX. The organization was established in 0000. 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 12/2021, Palestine Area Chamber Of Commerce employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Palestine Area 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 12/2021, Palestine Area Chamber Of Commerce generated $152.2k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.8%) each year. All expenses for the organization totaled $138.6k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.4%) per year over the past 7 years. 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 BUSINESS DEVELOPMENT, EXPANSION & GROWTH
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION OF BUSINESS DEVELOPMENT, EXPANSION & GROWTH
PROMOTION OF BUSINESS DEVELOPMENT, EXPANSION & GROWTH
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Heather Chancellor President / | OfficerTrustee | 40 | $48,750 |
Roy Finch Past Chairma | OfficerTrustee | 1 | $0 |
Ernie Williams Chairman | OfficerTrustee | 1 | $0 |
Debbie Wacha Treasurer | OfficerTrustee | 1 | $0 |
Angela Howell Secretary | OfficerTrustee | 1 | $0 |
Meshell Scott Board Member | OfficerTrustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $76,332 |
Fundraising events | $4,138 |
Related organizations | $0 |
Government grants | $47,085 |
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 | $127,555 |
Total Program Service Revenue | $0 |
Investment income | $145 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $24,479 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $152,179 |
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. | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $48,750 |
Other salaries and wages | $27,011 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $4,889 |
Payroll taxes | $8,076 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $3,319 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $375 |
Office expenses | $18,386 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $13,447 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $5,776 |
Interest | $13 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $4,459 |
All other expenses | $0 |
Total functional expenses | $138,577 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $197,118 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $2,718 |
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 | $119,609 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $319,445 |
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 | $44 |
Total liabilities | $44 |
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 |
Retained earnings, endowment, accumulated income, or other funds | $319,401 |
Total liabilities and net assets/fund balances | $319,445 |
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