Black Chamber Of Commerce Of New Mexico
- Assets
- $126.9k
- Revenue
- $484.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Albuquerque, NM
- Founding
- 05/2019
- Data as of
- 12/2023
- EIN
- 83-2191054
Organization Overview
Black Chamber Of Commerce Of New Mexico is located in Albuquerque, NM. The organization was established in 2019. 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. Black Chamber Of Commerce Of New Mexico 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 12/2023, Black Chamber Of Commerce Of New Mexico generated $484.2k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 69.0% each year . All expenses for the organization totaled $634.5k during the year ending 12/2023. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CHAMBER ENJOYED A SUCCESSFUL YEAR IN MANY FACETS; 1, INCREASED THE NUMBER OF BUSINESSES ASSISTED. 2. INCREASE THE NUMBER OF BLACK BUSINESSES IN THE DIRECTORY. 3. INCREASED THE NUMBER OF TRAINING SESSIONS OFFERED INCLUDING TO CITIES OUTSIDE OF ALBUQUERQUE. 4. THE PRESIDENT / CEO ATTENDED TWO EVENTS AT THE WHITEHOUSE WITH THE PRESIDENT OF THE UNITED STATES. 5. HOSTED FIRST BOARD RETREAT. 6. COMPLETELY DESIGNED AND IMPLEMENTED A NEW CHAMBER WEBSITE. 7. HOSTED THREE VACCINE EQUITY CLINICS. 8. HIRED A SUMMER INTERN FROM HOWARD UNIVERSITY. 9. HOSTED INAUGURAL GALA THAT SOLD OUT (OVER 300 TICKETS) WITHIN 2-1/2 WEEKS. 10. COMPLETED 24 OF THE 96 CERTIFICATION HOURS FOR THE INSTITUTE FOR ORGANIZATIONAL MANAGEMENT (IOM) WITH THE U.S. CHAMBER OF COMMERCE. 11. PARTNERED WITH MBDA FOR FOUR TRAINING SESSIONS CONDUCTED OUTSIDE OF ALBUQUERQUE. 12. TAUGHT AN ENTREPRENEURIAL COURSE FOR THE UNIVERSITY OF NEW MEXICO'S BLACK STUDENT SUCCESS PROGRAM. 13. BUILT ADDITIONAL COLLABORATIONS AND FORTIFIED EXIS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chad Cooperl Chair | 2 | $0 | |
Tana Traylor Chair Elect | 0 | $0 | |
Dan Wilkinson Secretary | 0 | $0 | |
David Hicks Treasurer | 0 | $0 | |
Marjorie Germaine Director | 0 | $0 | |
Dar Johnson Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $387,698 |
| Interest on Savings | $0 |
| 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 | $96,477 |
| Total Revenue | $484,175 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $74,812 |
| Pension plans, employee benefits | $5,829 |
| Interest | $0 |
| Taxes | $288 |
| Depreciation | $0 |
| Occupancy | $16,010 |
| Travel, conferences, and meetings | $18,542 |
| Printing and publications | $11,219 |
| Other expenses | $141,414 |
| Total operating and administrative expenses | $634,469 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $634,469 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $51,920 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $58,775 |
| 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 | $6,200 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $10,000 |
| Total assets | $126,895 |
| Accounts payable and accrued expenses | $0 |
| 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 | $3,647 |
| Total liabilities | $3,647 |