Utah Valley Chamber Of Commerce
- Assets
- $331.3k
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 10
- Location
- Provo, UT
- Founding
- 04/1987
- Data as of
- 12/2023
- EIN
- 87-0432136
Organization Overview
Utah Valley Chamber Of Commerce is located in Provo, UT. 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. As of 12/2023, Utah Valley Chamber Of Commerce employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Utah Valley 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 12/2023, Utah Valley Chamber Of Commerce generated $1.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.2% each year. All expenses for the organization totaled $1.1m during the year ending 12/2023. While expenses have increased by 7.7% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
STIMULATE LOCAL BUSINESS ESTABLISHMENT, GROWTH, AND DEVELOPMENT BY FACILITATING BUSINESS TO BUSINESS AND BUSINESS TO COMMUNITY RELATIONSHIPS THROUGHOUT UTAH COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STIMULATE LOCAL BUSINESS ESTABLISHMENT, GROWTH, AND DEVELOPMENT BY FACILITATING BUSINESS TO BUSINESS AND BUSINESS TO COMMUNITY RELATIONSHIPS THROUGHOUT UTAH COUNTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Herbert Executive Chair | Trustee | 1 | $60,000 |
Devin Baer Member | Trustee | 1 | $0 |
Abe Young Member | Trustee | 1 | $0 |
Brandon Henrie Member | Trustee | 1 | $0 |
Brian Epperson Member | Trustee | 1 | $0 |
Natalie Okeson Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $71,106 |
| 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 | $71,106 |
| Total Program Service Revenue | $968,844 |
| Investment income | $6,476 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $67,145 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,116,032 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,053 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $335,668 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $248,033 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $60,957 |
| Payroll taxes | $39,435 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $15,953 |
| Advertising and promotion | $33,737 |
| Office expenses | $45,406 |
| Information technology | $38,473 |
| Royalties | $0 |
| Occupancy | $35,305 |
| Travel | $63,513 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $148,620 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,052 |
| All other expenses | $2,885 |
| Total functional expenses | $1,075,290 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $36,864 |
| Savings and temporary cash investments | $271,726 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $25 |
| 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 | $22,687 |
| 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 | $331,302 |
| Accounts payable and accrued expenses | $27,767 |
| Grants payable | $0 |
| Deferred revenue | $32,100 |
| 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 | $59,867 |
| 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 | $271,435 |
| Total liabilities and net assets/fund balances | $331,302 |