Flower Mound Chamber Of Commerce
- Assets
- $407.1k
- Revenue
- $693.8k
- Investments
- $0.0
- Employees
- 5
- Location
- Flower Mound, TX
- Founding
- 05/1984
- Data as of
- 12/2022
- EIN
- 75-1929235
Organization Overview
Flower Mound Chamber Of Commerce is located in Flower Mound, 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 12/2022, Flower Mound Chamber Of Commerce employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Flower Mound 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, Flower Mound Chamber Of Commerce generated $693.8k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $647.6k during the year ending 12/2022. While expenses have increased by 3.7% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE FLOWER MOUND CHAMBER OF COMMERCE IS TO SUPPORT THE BUSINESS COMMUNITY FOR THE ECONOMIC PROSPERITY OF FLOWER MOUND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MONTHLY LUNCHEONSTYPICALLY HELD ON THE THIRD TUESDAY OF EACH MONTH, APPROXIMATELY 105 CHAMBER MEMBERS AND MEMBERS OF LOCAL GOVERNMENT ATTEND. NEW MEMBERS AND FIRST-TIME GUESTS ARE INTRODUCED AND THIS LUNCHEON IS A GREAT WAY TO MEET OTHER CHAMBER MEMBERS. THE LUNCHEON IS PACKED WITH ANNOUNCEMENTS, A KEYNOTE SPEAKER, THE RECOGNITION OF THE BUSINESS OF THE MONTH, AS WELL AS THE INTRODUCTION OF THE AMBASSADOR OF THE MONTH.
ANNUAL AWARDS PARTYFLOWER MOUND CHAMBER ANNUAL AWARDS BANQUET. APPROXIMATELY 199 GUESTS COME TO SAY GOODBYE AND GIVE A BIG THANK YOU TO THE OUTGOING CHAIRMAN. THE BUSINESS OF THE YEAR AND CITIZEN OF THE YEAR ARE ANNOUNCED, AS WELL AS THE RECOGNITION OF THE MEMBERS WHO HAVE MADE OUTSTANDING CONTRIBUTIONS TO THE CHAMBER THROUGHOUT THE YEAR.
LEADERSHIP FLOWER MOUNDLEADERSHIP FLOWER MOUND IS A NINE-MONTH PROGRAM THAT BEGINS IN SEPTEMBER WITH A TEAM-BUILDING COURSE AT NEAR BY STONEY RANCH AND ENDS IN MAY WITH A GRADUATION OF THE PARTICIPANTS. SOME OF THE MONTHLY CLASSES INCLUDE LEARNING ABOUT THE HISTORY OF FLOWER MOUND, EDUCATION, COMMUNITY SERVICE, TOWN GOVERNMENT, COUNTY GOVERNMENT, STATE GOVERNMENT, AS WELL AS A CLASS ON LEADERSHIP DYNAMICS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lori R Walker President | OfficerTrustee | 40 | $110,736 |
Shelly Dodge Past Chairman | OfficerTrustee | 1 | $0 |
Kelly Murray Chairman | OfficerTrustee | 1 | $0 |
Jan Rugg Secretary | OfficerTrustee | 1 | $0 |
Jason Walter Vice Chairman | OfficerTrustee | 1 | $0 |
David Hodges Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $293,475 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $53,803 |
| 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 | $347,278 |
| Total Program Service Revenue | $122,054 |
| Investment income | $733 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $213,292 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $693,807 |
| 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 | $0 |
| Other salaries and wages | $322,929 |
| Pension plan accruals and contributions | $11,543 |
| Other employee benefits | $2,006 |
| Payroll taxes | $25,069 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $60,896 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $19,470 |
| Office expenses | $12,375 |
| Information technology | $11,647 |
| Royalties | $0 |
| Occupancy | $44,942 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,923 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,318 |
| Insurance | $4,977 |
| All other expenses | $3,361 |
| Total functional expenses | $647,620 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $41,043 |
| Savings and temporary cash investments | $332,164 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $26,460 |
| 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 | $1,443 |
| Net Land, buildings, and equipment | $5,951 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $407,061 |
| Accounts payable and accrued expenses | $39,030 |
| 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 | $14,174 |
| Total liabilities | $53,204 |
| Net assets without donor restrictions | $353,857 |
| 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 | $407,061 |