Southlake Chamber Of Commerce Inc
- Assets
- $600.5k
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 4
- Location
- Southlake, TX
- Founding
- 08/1984
- Data as of
- 06/2022
- EIN
- 75-1919765
Organization Overview
Southlake Chamber Of Commerce Inc is located in Southlake, TX. The organization was established in 1984. 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 06/2022, Southlake Chamber Of Commerce Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southlake Chamber Of Commerce Inc 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 06/2022, Southlake Chamber Of Commerce Inc generated $1.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $1.4m during the year ending 06/2022. While expenses have increased by 3.1% per year over the past 7 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 PROMOTE THE WELL-BEING OF ITS MEMBERS AND THE SOUTHLAKE, TX AREA BY ENCOURAGING THE GROWTH OF EXISTING BUSINESSES WHILE ATTRACTING NEW FIRMS AND INDIVIDUALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOST COMMUNITY EVENTS TO SUPPORT LOCAL BUSINESSES. - OKTOBERTFEST, AWARDS BANQUET, BINGO, MEMBER MIXERS, MEMBER LUNCHEONS & COMMUNITY PRAYER BREAKFASTS
LEADERSHIP SOUTHLAKE IS A DYNAMIC WAY FOR BUSINESS LEADERS TO LEARN ABOUT SOUTHLAKE. ALUMNI INCLUDE A VARIETY OF COMMUNITY AND CIVIC LEADERS. FOR OVER 30 YEARS, LEADERSHIP SOUTHLAKE HAS INTRODUCED EMERGING AND RECOGNIZED LEADERS TO THE INNER WORKINGS OF OUR COMMUNITY THROUGH A TEN-MONTH PROGRAM ON TOPICS THAT AFFECT OUR QUALITY OF LIFE, PROVIDING PROFESSIONAL DEVELOPMENT, LEADERSHIP TRAINING, AND NETWORK OPPORTUNITIES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Guilbert President And CEO | Officer | 40 | $132,397 |
Mark Jones Director | Trustee | 1 | $0 |
Monika Heaton Director | Trustee | 1 | $0 |
Elizabeth Morell Director | Trustee | 1 | $0 |
Alexis Gordon Director | Trustee | 1 | $0 |
Ronak Kothari Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $290,107 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $91,874 |
| All other contributions, gifts, grants, and similar amounts not included above | $936 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $382,917 |
| Total Program Service Revenue | $1,078,115 |
| Investment income | $535 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $6,181 |
| 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 | $1,482,788 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,500 |
| 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. | $137,809 |
| Compensation of current officers, directors, key employees. | $6,890 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $190,690 |
| Pension plan accruals and contributions | $10,407 |
| Other employee benefits | $33,055 |
| Payroll taxes | $26,095 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,763 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,397 |
| Advertising and promotion | $0 |
| Office expenses | $42,240 |
| Information technology | $7,925 |
| Royalties | $0 |
| Occupancy | $8,902 |
| Travel | $115 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,688 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $20,564 |
| Insurance | $6,492 |
| All other expenses | $101,338 |
| Total functional expenses | $1,413,371 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $153,058 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $147,487 |
| 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 | $13,759 |
| Net Land, buildings, and equipment | $286,205 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $600,509 |
| Accounts payable and accrued expenses | $6,050 |
| Grants payable | $0 |
| Deferred revenue | $161,892 |
| 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 | $150,000 |
| Other liabilities | $1,000 |
| Total liabilities | $318,942 |
| Net assets without donor restrictions | $281,567 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $600,509 |
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