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Nonprofiteer
← ARLINGTON CHAMBER OF COMMERCE FOUNDATION INC

Form 990 for tax year 2024

Filed by ARLINGTON CHAMBER OF COMMERCE FOUNDATION INC.

Totals

Total revenue
$586
Total expenses
$0
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$586
Other revenue
$0
Total assets, end of year
$55,707
Total liabilities, end of year
$41,363
Net assets or fund balances, end of year
$14,344
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

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.

Revenue

Part VIII, the statement of revenue.

  • 3 · Investment income

    total $586 · related or exempt $586

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $60,488 · end of year $55,707

  • 10a · Land, buildings and equipment: cost or other basis

    $216,745

  • 10b · Land, buildings and equipment: accumulated depreciation

    $216,745

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,000

  • 18 · Grants payable

    beginning of year $45,730 · end of year $41,363

  • 27 · Net assets without donor restrictions

    beginning of year $13,758 · end of year $14,344

Mission and programs · 2024

Mission

SERVE AS A SUPPORTING ORGANIZATION TO THE ARLINGTON CHAMBER OF COMMERCE AND TO LESSEN THE BURDENS OF THE ARLINGTON LOCAL GOVERNMENT WITH RESPECT TO MATTERS OF ECONOMIC DEVELOPMENT AND URBAN LAND USE AND TO PROVIDE EDUCATION TO THE PUBLIC ABOUT LOCAL GOVERNMENT.

  • SUPPORTING ORGANIZATION OF THE ARLINGTON CHAMBER-MAKES GRANTS TO THE ARLINGTON CHAMBER OF COMMERCE AND OTHER LOCAL ORGANIZATIONS TO FUND ECONOMIC DEVELOPMENT AND COMMUNITY DEVELOPMENT PROGRAMS.

  • THE ARLINGTON CHAMBER OF COMMERCE FOUNDATION FOSTERS ECONOMIC AND COMMUNITY PROSPERITY IN THE GREATER ARLINGTON AREA. TO ACHIEVE THE MISSION, THE FOUNDATION RAISES AND RENDERS FINANCIAL SUPPORT FOR COMMUNITY PROJECTS, AS IDENTIFIED THROUGH THE ARLINGTON CHAMBER'S STRATEGIC OBJECTIVES, INCLUDING EDUCATION AND WORKFORCE DEVELOPMENT, REDEVELOPMENT AND REVITALIZATION, COMMUNITY PLANNING, AND GENERAL WELL-BEING INITIATIVES.

  • ARTS & ENTERTAINMENT SUPPORT-ELEVATES THE MULTI-CULTURAL TALENT FOUND IN ARLINGTON; DELIVERS AN "OPEN-TO-ALL" FREE WHOLESOME, FAMILY EXPERIENCE; UNIFIES THE COMMUNITY THROUGH STRONG PARTNERSHIPS; INTRODUCES THOUSANDS OF VISITORS TO ARLINGTON; AND GENERATES REVENUE IN A NON-TRADITIONAL TRAVEL PERIOD OF THE YEAR FOR LOCAL BUSINESSES.

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • MICHAEL JACOBSON

    PRESIDENT/CE

    Total calculated
    $279,951
    From this org
    $0
    From related orgs
    $243,489
    Other
    $36,462
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    not reported + $235,789 related
    Bonus
    not reported + $500 related
    Other
    not reported + $7,200 related
    Deferred
    not reported + $34,862 related
    Nontaxable benefits
    not reported + $1,600 related
    Filer's total
    not reported + $279,951 related

  • JIM MAIBACH

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • DON DUKE

    CHAIR ELECT

    Total calculated
    $0
    Hours/week
    1

  • TERRY GAINES

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • CINDY SALTER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DARLA PEZNELL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

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.

Provenance

Return type
form_990
Tax year
2024
IRS schema version
2024v5.0
Source object
202602299349301480

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