Big Spring Area Chamber Of Commerce Charitable Trust 1
- Assets
- $339.7k
- Revenue
- $63.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Big Spring, TX
- Founding
- 06/1993
- Data as of
- 12/2022
- EIN
- 75-6440949
Organization Overview
Big Spring Area Chamber Of Commerce Charitable Trust 1 is located in Big Spring, TX. The organization was established in 1993. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Big Spring Area Chamber Of Commerce Charitable Trust 1 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 12/2022, Big Spring Area Chamber Of Commerce Charitable Trust 1 generated $63.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (6.6%) each year. All expenses for the organization totaled $64.5k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (5.6%) per year over the past 5 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
LESSEN THE BURDEN OF LOCAL GOVERNMENT THROUGH SUPPORT OF CHAMBER OF COMMERCE CIVIC ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPONSORED HOLIDAY LIGHTING OF CITY PARK AND COMMUNITY CENTER. REGISTERED GUESTS WERE ESTIMATED TO BE APPROXIMATELY 23,000. THE PORTION OF THE DISPLAY FRONTING U.S. HWY 87 IS VISIBLE FROM THANKSGIVING TO NEW YEARS WITH NO ESTIMATION AS TO NUMBER OF HOLIDAY VIEWERS.
HISTORIC AMPHITHEATER RESTORATIONTHE CITY OF BIG SPRING AMPHITHEATER WAS ORIGINALLY CONSTRUCTED UNDER THE WORKS PROGRESS ADMINISTRATION. THE PROJECT BUILT A 6800 SEAT, ROCK MASONRY AMPHITHEATER IN CITY PARK (NOW COMANCHE TRAIL PARK)IN BIG SPRING, TEXAS BETWEEN 1939 AND 1940 UNDER OFFICIAL PROJECT NUMBER 665-66-2-578. THE RENOVATION WILL ADDRESS MUCH NEEDED REPAIR AND REPLACEMENT OF CRITICAL ELEMENTS PLANS ARE TO ALSO ADD A COVER OVER THE STAGE AREA, CONSTRUCT A "GREEN ROOM" FOR PERFORMERS, PROVIDE FOR ADA COMPLIANT RESTROOMS, PROVIDE SHADE FOR SPECTATORS, AND INSTALL SECURITY FENCING.
SPONSORED CITYWIDE JULY 4TH CELEBRATION CONSISTING OF FIREWORKS DISPLAY AND PATRIOTIC SYMPHONY PERFORMANCE. ESTIMATED ATTENDANCE IN CITY PARK, AMPHITHEATER AND SURROUNDING PARKING LOCATIONS WAS 10,500.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kayla Jo Nichols President | Trustee | 0 | $0 |
Michelle Hamlin President-Elect | Trustee | 0 | $0 |
Mark Morgan Trustee | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $63,146 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $63,146 |
| Total Program Service Revenue | $0 |
| Investment income | $150 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $63,296 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $64,519 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $138,805 |
| Savings and temporary cash investments | $200,896 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $339,701 |
| 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 | $0 |
| Total liabilities | $0 |
| 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 | $339,701 |
| Total liabilities and net assets/fund balances | $339,701 |