Lubbock Chamber Of Commerce Foundation
- Assets
- $601.1k
- Revenue
- $402.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Lubbock, TX
- Founding
- 04/1987
- Data as of
- 12/2021
- EIN
- 75-2081274
Organization Overview
Lubbock Chamber Of Commerce Foundation is located in Lubbock, TX. The organization was established in 1987. 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. Lubbock Chamber Of Commerce Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Lubbock Chamber Of Commerce Foundation generated $402.0k in total revenue. All expenses for the organization totaled $363.9k during the year ending 12/2021. While expenses have increased by 38.8% per year over the past 3 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
OLIVIA NEEDS A RIDE WAS A ONE-TIME THING WHERE THE FOUNDATION RAISED MONEY FOR EDDIE MCBRIDE'S GRANDDAUGHTER, AND THEN PAID EXPENSES AND PASSED ALL OF THE MONEY TO A NEW FOUNDATION SET UP FOR HER.
WOODY WILLIAMS FUNDRAISING WAS A ONE-TIME THING WHERE THE FOUNDATION RAISED MONEY, AND THEN PASSED ALL OF THE MONEY TO WOODY WILLIAMS.
SINCE 1976, LEADERSHIP LUBBOCK HAS PROVIDED A CONTINUING SOURCE OF BUSINESS LEADERS BY ENSURING LEADERSHIP LUBBOCK PARTICIPANTS RECEIVE NECESSARY COMMUNITY INFORMATION, ORIENTATION AND LEADERSHIP SKILLS. CLASS INVOLVES 9 ALL DAY MEETINGS, A GRADUATION BANQUET AND A TRIP TO AUSTIN.
CITY-WIDE BRANDING CAMPAIGN STARTING IN 2021. THE FOUNDATION WILL CONTINUE TO GROW PARTCIPATION AND SPONSORSHIPS IN THE FUTURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Beck Treasurer | 1 | $0 | |
Dave Marcinkowski Chairman | 1 | $0 | |
Rey Carrasco Vice Chairman | 1 | $0 | |
Dana Madison Vice Chairwoman | 1 | $0 | |
Chris Chambers Vice Chairman | 1 | $0 | |
Kay Mcdowell Secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,164 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $400,811 |
| Total Revenue | $401,975 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $358,721 |
| Total operating and administrative expenses | $363,923 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $363,923 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $587,505 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $13,629 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $601,134 |
| Accounts payable and accrued expenses | $684 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $684 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lubbock Chamber Of Commerce Foundation has recieved totaling $100,000.
| Awarding Organization | Amount |
|---|---|
Texas Mutual Insurance Company Austin, TX PURPOSE: Workforce Development & Safety Training | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lloyds Register North America Inc Houston, TX | $53,290,945 | $33,311,416 |
Louisiana Ambulance Alliance Inc Napoleonville, LA | $5,578,332 | $30,543,889 |
Wi-Fi Alliance Austin, TX | $27,634,772 | $19,782,142 |
Greater Houston Partnership Inc Houston, TX | $22,962,720 | $19,728,312 |
Bbb Serving The Heart Of Texas Austin, TX | $13,203,011 | $18,551,696 |
Visit San Antonio San Antonio, TX | $11,429,570 | $19,048,365 |
Clean Gulf Associates Inc New Orleans, LA | $10,070,698 | $12,457,251 |
Meeting Professionals International Dallas, TX | $6,166,822 | $11,031,821 |
Dallas Regional Chamber Dallas, TX | $15,269,996 | $9,505,789 |
Brazos Pilots Association Freeport, TX | $5,263,034 | $10,473,577 |
American Agape Foundation Inc San Antonio, TX | $56,717,465 | $7,832,495 |
Salesmanship Club Of Dallas Dallas, TX | $14,081,869 | $8,485,267 |