Lompoc Valley Chamber Of Commerce
- Assets
- $273.9k
- Revenue
- $284.5k
- Investments
- $0.0
- Employees
- 4
- Location
- Lompoc, CA
- Founding
- 11/1952
- Data as of
- 06/2022
- EIN
- 95-1538448
Organization Overview
Lompoc Valley Chamber Of Commerce is located in Lompoc, CA. The organization was established in 1952. 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 06/2022, Lompoc Valley Chamber Of Commerce employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lompoc 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 06/2022, Lompoc Valley Chamber Of Commerce generated $284.5k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $291.8k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (0.3%) per year over the past 7 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
A MEMBERSHIP ORGANIZATION OF BUSINESSES, PROFESSIONAL ORGANIZATIONS AND INDIVIDUALS COMMITTED TO IMPROVING THE ECONOMY, QUALITY OF LIFE AND PROMOTING BUSINESS AND TOURISM IN THE LOMPOC VALLEY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BUSINESS SERVICES: TO ASSIST BUSINESSES WITHIN THE COMMUNITY, TO MAINTAIN A FAVORABLE BUSINESS CLIMATE, AND TO ENCOURAGE GROWTH AND PROSPERITY; TO ADVANCE THE ECONOMIC AND SOCIOECONOMIC WELL-BEING OF THE LOMPOC VALLEY; TO ASSIST IN GENERAL PLANNING AND DEVELOPMENT OF THE COMMUNITY FOR THE BENEFIT OF ALL.
MILITARY AEROSPACE COMMITTEE: THE CHAMBER HAS ASSUMED A LIASON ROLE BETWEEN THE BUSINESS COMMUNITY AND DEFENSE CONTRACTORS AT VANDENBERG AIR FORCE BASE.
LEADERSHIP LOMPOC VALLEY: THE CHAMBER PROVIDES OPPORTUNITIES TO DEVELOP AND TRAIN TOMORROW'S COMMUNITY LEADERS THROUGH BOTH ADULT AND HIGH SCHOOL COMMUNITY EDUCATION PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Devika Stallings President & CEO | Officer | 40 | $61,000 |
Amber Wilson CEO | Officer | 40 | $5,730 |
Michael Carroll Director | Trustee | 2 | $0 |
Bill Hughen Jr CFO | OfficerTrustee | 5 | $0 |
Chuck Madson Chairman | OfficerTrustee | 2 | $0 |
Steve Popkin Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $71,679 |
| Fundraising events | $17,900 |
| Related organizations | $0 |
| Government grants | $154,929 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,370 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $254,878 |
| Total Program Service Revenue | $38,521 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$9,218 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $284,536 |
| 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. | $66,730 |
| Compensation of current officers, directors, key employees. | $12,200 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $42,786 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $9,896 |
| Payroll taxes | $8,832 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,765 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,004 |
| Advertising and promotion | $1,896 |
| Office expenses | $16,755 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $31,881 |
| Travel | $3,027 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,255 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $628 |
| Insurance | $6,647 |
| All other expenses | $9,655 |
| Total functional expenses | $291,822 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $173,903 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $95,907 |
| 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 | $1,278 |
| Net Land, buildings, and equipment | $1,890 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $901 |
| Total assets | $273,879 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $46,890 |
| 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 | $97,746 |
| Other liabilities | $5,343 |
| Total liabilities | $149,979 |
| Net assets without donor restrictions | $123,900 |
| 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 | $273,879 |