Richardson Chamber Of Commerce
- Assets
- $1.7m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 8
- Location
- Richardson, TX
- Founding
- 08/1947
- Data as of
- 12/2022
- EIN
- 75-0959636
Organization Overview
Richardson Chamber Of Commerce is located in Richardson, TX. The organization was established in 1947. 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 12/2022, Richardson Chamber Of Commerce employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Richardson 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, Richardson Chamber Of Commerce generated $1.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.4%) each year. All expenses for the organization totaled $1.9m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (4.9%) per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
DEVELOP, PROMOTE AND FOSTER A CONTINUALLY GROWING, DIVERSE AND VIBRANT BUSINESS COMMUNITY AND CIVIC CLIMATE IN RICHARDSON AND THE SURROUNDING AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM SERVICES: REDP, TECH TITANS, STEM, LEADERSHIP RICHARDSON THE RICHARDSON CHAMBER OF COMMERCE HAS BEEN DRIVING BUSINESS SUCCESS IN RICHARDSON FOR MORE THAN 75 YEARS. TIMES HAVE CHANGED SINCE WE OPENED OUR DOORS, BUT OUR GOAL REMAINS THE SAME: TO SERVE AS THE CORNERSTONE OF ECONOMIC AND COMMUNITY DEVELOPMENT IN THE CITY OF RICHARDSON.
ANNUAL MEETING NUMBER OF PEOPLE SERVED, 250, SUCCESSFULLY TRANSITIONED THE EVENT FROM A LUNCHEON TO A NETWORKING EVENT IN THE EVENING WITH A FEATURED SPEAKER, AWARDS AND CITIZEN OF THE YEAR ANNOUNCEMENT AND VIDEO.
GOLF TOURNAMENT , NUMBER OF PEOPLE SERVED, 170, MOVED TO A NEW COURSE AND ENHANCED OFFERINGS FOR BOTH TEAMS AND SPONSORS, SOLD OUT THE PLAYING FIELD AND ALL SPONSORSHIP LEVELS WITH COMMITMENTS ALREADY FOR NEXT YEAR, HAD A HOLE IN ONE WINNER!
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William C Sproull Former President/ceo | 0 | $158,101 | |
Paul Bendel Executive Director, Tech Titans | 45 | $134,502 | |
Kim Quirk CEO | Trustee | 45 | $95,000 |
Molly Ulmer Board Relations Manager Trustee | Trustee | 4 | $6,367 |
Daniel Beckett Trustee | Trustee | 0.33 | $0 |
Rachell Boelter Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $687,434 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $740,114 |
| 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 | $1,427,548 |
| Total Program Service Revenue | $242,734 |
| Investment income | $2,491 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $204,044 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,923,749 |
| 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. | $101,628 |
| Compensation of current officers, directors, key employees. | $10,163 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,114,226 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $138,712 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $38,006 |
| Fees for services: Accounting | $15,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $17,260 |
| Office expenses | $3,797 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $18,111 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,705 |
| Interest | $24 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,027 |
| Insurance | $14,236 |
| All other expenses | $117,469 |
| Total functional expenses | $1,897,800 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $259,537 |
| Savings and temporary cash investments | $680,826 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $74,991 |
| 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 | $15,942 |
| Net Land, buildings, and equipment | $359,350 |
| Investments—publicly traded securities | $313,481 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2 |
| Total assets | $1,704,129 |
| Accounts payable and accrued expenses | $82,757 |
| Grants payable | $0 |
| Deferred revenue | $49,397 |
| 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 | $132,154 |
| Net assets without donor restrictions | $1,496,261 |
| Net assets with donor restrictions | $75,714 |
| 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 | $1,704,129 |
Grants Awarded
Over the last fiscal year, Richardson Chamber Of Commerce has awarded $40,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF TEXAS AT DALLAS PURPOSE: SCHOLARSHIP | $5,000 |
UNIVERSITY OF NORTH TEXAS PURPOSE: SCHOLARSHIP | $25,000 |
PLANO INTELLIGENCE INC PURPOSE: SCHOLARSHIP | $10,000 |