Chamber Of Commerce
- Assets
- $573.0k
- Revenue
- $631.8k
- Investments
- $0.0
- Employees
- 5
- Location
- Longmont, CO
- Founding
- 03/1955
- Data as of
- 12/2022
- EIN
- 84-0253845
Organization Overview
Chamber Of Commerce is located in Longmont, CO. The organization was established in 1955. 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, Chamber Of Commerce employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 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, Chamber Of Commerce generated $631.8k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $649.5k during the year ending 12/2022. While expenses have increased by 5.6% 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
TO PROMOTE BUSINESS AND INDUSTRY IN THE LONGMONT AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTED BUSINESS AND INDUSTRY IN THE LONGMONT AREA THROUGH NETWORKING EVENTS, FOCUSED COMMITTEES, AND EDUCATIONAL PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kurt Forrest Brewer Chair | OfficerTrustee | 2 | $0 |
Kevin Puckett Secretary | OfficerTrustee | 2 | $0 |
Thaxter Williams Treasurer | OfficerTrustee | 2 | $0 |
Amy Aschenbrenner Immediate Past Chair | Trustee | 2 | $0 |
Amy Okubo At-Large | Trustee | 2 | $0 |
Brian Berry Director | Trustee | 2 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $551,364 |
| Investment income | $40,911 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $39,572 |
| 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 | $631,847 |
| 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. | $74,336 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $218,364 |
| Pension plan accruals and contributions | $8,272 |
| Other employee benefits | $33,262 |
| Payroll taxes | $23,453 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $18,925 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $45,439 |
| Advertising and promotion | $974 |
| Office expenses | $9,537 |
| Information technology | $11,969 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,500 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,420 |
| Interest | $625 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,079 |
| Insurance | $4,752 |
| All other expenses | $27,965 |
| Total functional expenses | $649,457 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $65,212 |
| Savings and temporary cash investments | $307,735 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $29,585 |
| 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 | $2,120 |
| Net Land, buildings, and equipment | $157,780 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,590 |
| Total assets | $573,022 |
| Accounts payable and accrued expenses | $54,100 |
| Grants payable | $0 |
| Deferred revenue | $153,911 |
| 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 | $20,893 |
| Total liabilities | $228,904 |
| Net assets without donor restrictions | $344,118 |
| 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 | $573,022 |