Form 990 for tax year 2024

Totals

Total revenue

$114,619

Total expenses

$132,355

Contributions and grants received

$0

Grants paid

$0

Program service revenue

$89,409

Investment income

$1,165

Other revenue

$24,045

Total assets, end of year

$172,111

Total liabilities, end of year

$3,786

Net assets or fund balances, end of year

$168,325

Program services expenses (Part IX)

$123,533

Management and general expenses

$8,822

Fundraising expenses

$0

Program service expenses (Part III)

— not reported

Program services were 93.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Mission and programs · 2024

• MEMBER SERVICES ARE PRIMARILY DESIGNED TO HELP LOCAL SMALL BUSINESSES PROSPER WHICH INCLUDES PROMOTION OF MEMBERS AND THEIR SMALL BUSINESSES VIA A VERY ACTIVE WEBSITE, SMART PHONE APPLICATION, BUSINESS EXPOS, PROMTIONAL MATERIALS, NETWORKING EVENTS, EDUCATIONAL SEMINARS, AND EMAIL ADVERTISING. SERVICES ARE PROVIDED BY A 1 FULL TIME AND 2 PARTTIME EMPLOYEES. WE ALSO PROMOTE AND ASSIST MUNICIPALITIES, CIVIC CLUBS, NON-PROFITS, CHURCHES, HEALTH CARE ENTITIES, SCHOOLS, UTILITIES, AND IDUSTRIES AS WELL, BUT ESPECIALLY IN THIS ARE SMALL BUSINESSES ARE THE DRIVE FORCE OF A HEALTHY ECONOMY.

• THE ORGANIZATION PURCHASED IT'S BUILDING WITH EXTRA OFFICE SPACE TO BE ABLE TO OFFER THE MANY SMALL BUSINESSES AND NON-PROFIT ORGANIZATIONS IN OUR RURAL AREA WITH A LOW-COST RENT SOLUTION. THE OFFICE SPACE OFFERED IS CURRENTLY FULLY RENTED TO FOUR SMALL BUSINESSES AND ONE NON-PROFIT. IN ADDITION TO PROVIDING MUCH-NEEDED, LOW COST OFFICE SPACE SOLUTIONS, WE ALSO MAINTAIN THREE DIFFERENT MEETING SPACE OPTIONS FOR USE BY THE CHAMBER, CHAMBER MEMBERS, AND PUBLIC OFFICIALS. MEETING SPACE IN RURAL LAKE GASTON REGIONS IS ALSO LIMITED.

• THE LAKE GASTON REGIONAL CHAMBER OF COMMERCE ALSO OPERATES THE ONLY NON- STATE, NON-COUNTY AFFILIATED OR FUNDED VISITORS CENTER, OFFERING CRUCIAL INFORMATION FOR THE ENTIRE TWO-STATE, FIVE COUNTY LAKE GASTON REGION. WE ASSIST THOSE SEEKING INFORMATION ON RELOCATION, VACATION, LOCAL GOODS AND SERVICES, AND GENERAL SERVICE QUESTIONS REGARDING PERMITS, DIRECTIONS, ETC. WE ALSO OFFER OUR GUESTS FREE WIFI SERVICE, WHICH IS VERY LIMITED IN THIS REGION, A LITTLE FREE LIBRARY FOR FREE BOOKS, A VILLAGE POST OFFICE FOR RELIABLE AND QUICK MAIL SERVICES (AS OUR POST OFFICES ARE LOCATED QUITE A DISTANCE APART AND HAVE VARYING HOURS OF OPERATION) AND OTHER NEEDED AND LIMITED SERVICES, SUCH AS COPYING, FAXING, AND NOTARY SERVICES.

As filed on the 2024 return.

Listed in Part VII

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

• LAKE GASTON FOUNDATION

  501C 3 · NC

Provenance

Return type

form_990

Tax year

2024

Filed

17 November 2025

IRS schema version

2024v5.0

Source object

202523219349326592

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