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← ASHEVILLE AREA CHAMBER OF COMMERCE COMMUNITY BETTERMENT FOUNDATION

Form 990 for tax year 2023

Filed by ASHEVILLE AREA CHAMBER OF COMMERCE COMMUNITY BETTERMENT FOUNDATION.

Totals

Total revenue
$1,110,442
Total expenses
$1,260,699
Contributions and grants received
$979,030
Grants paid
$749,435
Program service revenue
$30,092
Investment income
$34,250
Other revenue
$67,070
Total assets, end of year
$1,855,987
Total liabilities, end of year
$882,186
Net assets or fund balances, end of year
$973,801
Program services expenses (Part IX)
$1,255,708
Management and general expenses
$0
Fundraising expenses
$4,991
Program service expenses (Part III)
$1,255,708

Program services were 99.6% 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.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $46,780

  • 1e · Government grants (contributions)

    $375,000

  • 1f · All other contributions, gifts and grants

    $557,250

  • 2a · Program service revenue: FOLK HERITAGE COMMITTEE REV

    total $30,092 · related or exempt $30,092

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $34,250 · excluded $34,250

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 8a · Fundraising events: gross income

    $268,771

  • 8a · Fundraising events: contributions included on line 1c

    $46,780

  • 8b · Fundraising events: direct expenses

    $201,701

  • 8c · Net income from fundraising events

    total $67,070 · excluded $67,070

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $749,435 · program services $749,435

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 24a · Other expenses: ACCELERATE BUNCOMBE COUNTY

    total $440,116 · program services $440,116

  • 24b · Other expenses: FOLK HERITAGE COMMITTEE EXPENSES

    total $66,157 · program services $66,157

  • 24c · Other expenses: MISCELLANEOUS EXPENSES

    total $4,991 · fundraising $4,991

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $108,338 · end of year $211,011

  • 2 · Savings and temporary cash investments

    beginning of year $1,036,230 · end of year $927,601

  • 3 · Pledges and grants receivable

    beginning of year $971,477 · end of year $702,452

  • 4 · Accounts receivable

    beginning of year $165 · end of year $11,493

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 8 · Inventories for sale or use

    beginning of year $3,430 · end of year $3,430

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,327 · end of year $0

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    end of year $0

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $26,312 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,461 · end of year $179,734

  • 19 · Deferred revenue

    beginning of year $971,476 · end of year $702,452

  • 22 · Loans and payables to officers and key people

    end of year $0

  • 25 · Other liabilities

    beginning of year $53,284 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $1,124,058 · end of year $973,801

Mission and programs · 2023

Mission

DEVELOP AND ACCELERATE GROWTH & EMPLOYMENT OPPORTUNITIES FOR THE COMMUNITY.

  • 1. FUNDED THE FOLLOWING ACTIVITY THROUGH THE ASHEVILLE AREA CHAMBER OF COMMERCE: 1) WORKFORCE PREPAREDNESS AND DEVELOPMENT, 2) ENTREPRENEUR AND STARTUP DEVELOPMENT, 3) RECRUITMENT OF NEW INDUSTRY, 4) EXPANSION OF EXISTING INDUSTRY, AND 5) SITE DEVELOPMENT. 2. USING FUNDING PROVIDED FROM BUNCOMBE COUNTY, OPERATED ACCELERATE BUNCOMBE, AN EFFORT TO CONNECT BUNCOMBE COUNTY RESIDENTS WITH PAID, ACCELERATED TRAININGS THAT PUT THEM ON TRACK TOWARD REWARDING CAREERS. PROVIDED PARTICIPANTS WITH AN EDUCATIONAL STIPEND OF $15 PER HOUR DURING TRAINING. PROVIDED COMMUNITY HEALTH WORKERS TO ASSIST PARTICIPANTS AND PAID TUITION FOR PARTICIPANTS. DURING THE PERIOD OF 7.1.23 - 6.30.24, 102 INDIVIDUALS WERE REACHED BY COMMUITY HEALTH WORKERS, 42 INDIVIDUALS ENROLLED IN TRAININGS, 41 INDIVIDUALS GRADUATED THEIR TRAININGS AND 17 INDIVIDUALS SECURED FULL-TIME EMPLOYMENT. 3. CELEBRATED THE 125TH-YEAR ANNIVERSARY OF THE ASHEVILLE AREA CHAMBER OF COMMERCE BY SELLING SPONSORSHIPS AND TICKETS FOR A FESTIVE EVENING EVENT AND AWARDING THIRTEEN $10,000 GRANTS TO LOCAL NON-PROFIT ORGANIZATIONS. THE THIRTEEN GRANT RECIPIENTS REPRESENT A DIVERSE RANGE OF CAUSES, EACH CONTRIBUTING TO THE ENRICHMENT OF ASHEVILLE'S COMMUNITY: ALL SOULS COUNSELING, APPALACHIAN SUSTAINABLE AGRICULTURE PROJECT, ASHEVILLE GREENWORKS, ASHEVILLE HABITAT FOR HUMANITY, ASHEVILLE MUSEUM OF SCIENCE, BLACK WALL STREET, BLUE RIDGE PUBLIC RADIO, BUNCOMBE COUNTY SCHOOLS FOUNDATION, EBLEN CHARITIES, MY DADDY TAUGHT ME THAT, OPENDOORS ASHEVILLE, WESTERN CAROLINA RESCUE MINISTRIES, YWCA OF ASHEVILLE. 4. IN COOPERATION WITH THE FOLK HERITAGE COMMITTEE, PROMOTED TRADITIONAL MOUNTAIN MUSIC AND DANCE THROUGH THE SHINDIG ON THE GREEN PERFORMANCES AND THE MOUNTAIN DANCE AND FOLK FESTIVAL. 5. PROVIDED 6 BUSINESSES OWNED BY PEOPLE OF COLOR ADVERTISING BENEFITS AND MEMBERSHIPS IN THE ASHEVILLE CHAMBER THROUGH THE PEOPLE'S COMMUNITY AND INCLUSION INITIATIVE.

    Expenses $1,255,708 · Grants $749,435 · Revenue $30,092

As filed on the 2023 return.

Listed in Part VII

  • Ben Hamrick

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • John F A V Cecil

    Chair

    Total calculated
    $0
    Hours/week
    1

  • Suzanne Deferie

    Vice-Chair

    Total calculated
    $0
    Hours/week
    1

  • Austin Walker

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Carolyn Coward

    Board Member

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Dana Stonestreet

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Himanshu Karvir

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Janice Brumit

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Kevin Hefner

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Laura Webb

    Board Member

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Robert Roberts

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Terri King

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Tracy Buchanan

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • W Louis Bissette

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • William A V Cecil

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Kathryn Cramer

    Secretary

    Total calculated
    $362,573
    From this org
    $0
    From related orgs
    $335,570
    Other
    $27,003
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $285,500 related
    Bonus
    $0 + $44,070 related
    Other
    $0 + $6,000 related
    Deferred
    $0 + $18,857 related
    Nontaxable benefits
    $0 + $8,146 related
    Filer's total
    $0 + $362,573 related

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

The 10 largest by cash amount. The API serves every itemized grant.

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
2023
Filed
13 May 2025
IRS schema version
2023v6.0
Source object
202541339349309104

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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