Durango Area Chamber Resort Association
- Assets
- $905.3k
- Revenue
- $420.8k
- Investments
- $0.0
- Employees
- 5
- Location
- Durango, CO
- Founding
- 03/1974
- Data as of
- 12/2022
- EIN
- 84-0192881
Organization Overview
Durango Area Chamber Resort Association is located in Durango, CO. The organization was established in 1974. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Durango Area Chamber Resort Association employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Durango Area Chamber Resort Association 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, Durango Area Chamber Resort Association generated $420.8k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.0%) each year. All expenses for the organization totaled $511.6k during the year ending 12/2022. 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 DURANGO CHAMBER OF COMMERCE IS A MEMBERSHIP BASED ORGANIZATION THAT PROMOTES AND SUPPORTS THE LOCAL BUSINESS ECONOMY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION OF THE ECONOMIC DEVELOPMENT OF THE DURANGO COMMUNITY AND SURROUNDING AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jack Llewellyn Chief Executive Officer | 40 | $108,960 | |
Charles Spence Vice President | Trustee | 1 | $0 |
Michael Hennon Director | Trustee | 1 | $0 |
Sherin Clarke Director | Trustee | 1 | $0 |
Deana Tomac Director | Trustee | 1 | $0 |
Melissa Youssef Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $298,348 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,605 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $303,953 |
| Total Program Service Revenue | $125,376 |
| Investment income | $32 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$8,562 |
| 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 | $420,799 |
| 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. | $108,960 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $151,020 |
| Pension plan accruals and contributions | $7,516 |
| Other employee benefits | $30,912 |
| Payroll taxes | $20,584 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,200 |
| Advertising and promotion | $5,018 |
| Office expenses | $24,771 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $20,788 |
| Travel | $710 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,860 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,843 |
| Insurance | $6,087 |
| All other expenses | $0 |
| Total functional expenses | $511,599 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200,969 |
| Savings and temporary cash investments | $0 |
| 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 | $704,281 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $905,250 |
| 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 | $117,852 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,160 |
| Total liabilities | $126,012 |
| Net assets without donor restrictions | $779,238 |
| 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 | $905,250 |