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Nonprofiteer
← ABILENE CHAMBER OF COMMERCE FOUNDATION

Form 990 for tax year 2024

Filed by ABILENE CHAMBER OF COMMERCE FOUNDATION.

Totals

Total revenue
$227,921
Total expenses
$211,608
Contributions and grants received
$211,447
Grants paid
$183,434
Program service revenue
$0
Investment income
$16,474
Other revenue
$0
Total assets, end of year
$587,390
Total liabilities, end of year
$31
Net assets or fund balances, end of year
$587,359
Program services expenses (Part IX)
$206,800
Management and general expenses
$4,808
Fundraising expenses
$0
Program service expenses (Part III)
$206,800

Program services were 97.7% 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.

  • 1f · All other contributions, gifts and grants

    $211,447

  • 3 · Investment income

    total $12,877 · excluded $12,877

  • 7a · Gross sales of assets other than inventory

    securities $3,597

  • 7c · Gain or loss

    securities $3,597

  • 7d · Net gain or loss

    total $3,597 · excluded $3,597

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $183,434 · program services $183,434

  • 11c · Fees: accounting

    total $1,500 · management and general $1,500

  • 11f · Fees: investment management

    total $2,751 · management and general $2,751

  • 11g · Fees: other

    total $2,700 · program services $2,700

  • 13 · Office expenses

    total $418 · management and general $418

  • 19 · Conferences, conventions and meetings

    total $10,600 · program services $10,600

  • 24a · Other expenses: RENTAL FEES

    total $4,438 · program services $4,438

  • 24b · Other expenses: SUPPLIES

    total $2,362 · program services $2,362

  • 24c · Other expenses: SPONSORSHIP

    total $2,000 · program services $2,000

  • 24d · Other expenses: STORAGE RENTAL FEES

    total $1,026 · program services $1,026

  • 24e · All other expenses

    total $379 · program services $240 · management and general $139

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $260,177 · end of year $262,760

  • 2 · Savings and temporary cash investments

    beginning of year $20,000 · end of year $20,000

  • 4 · Accounts receivable

    beginning of year $40 · end of year $41

  • 9 · Prepaid expenses and deferred charges

    beginning of year $700 · end of year $1,000

  • 12 · Investments: other securities

    beginning of year $276,972 · end of year $303,589

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,647 · end of year $31

  • 27 · Net assets without donor restrictions

    beginning of year $5,896 · end of year $7,270

  • 28 · Net assets with donor restrictions

    beginning of year $549,346 · end of year $580,089

Mission and programs · 2024

Mission

THE PURPOSE OF THE ORGANIZATION IS TO PROVIDE KNOWLEDGE AND UNDERSTANDING OF ECONOMICS, MATTERS OF PUBLIC CONCERN, FINANCE, EDUCATION, AND TRAINING, AND PROBLEMS OF MINORITY GROUPS THEREBY PROMOTING THE ECONOMY AND QUALITY OF LIFE IN ABILENE, TEXAS.

  • COMMUNITY PROGRAMS - VAIOUS CONTRIBUTIONS SUPPORTING THE PROGRAMS OF THE ABILENE REGIONAL GROWTH ALLIANCE, THE ABILENE CHAMBER OF COMMERCE, AND OTHER LOCAL NON-PROFIT ENTITIES.

    Expenses $206,800 · Grants $183,434

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

Listed in Part VII

  • Douglas Peters

    PRESIDENT AN

    Total calculated
    $353,085
    From this org
    $0
    From related orgs
    $300,095
    Other
    $52,990
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    not reported + $260,095 related
    Bonus
    not reported + $40,000 related
    Other
    not reported
    Deferred
    not reported + $24,185 related
    Nontaxable benefits
    not reported + $28,805 related
    Filer's total
    not reported + $353,085 related

  • Frances Williamson

    CFO

    Total calculated
    $79,084
    From this org
    $0
    From related orgs
    $71,809
    Other
    $7,275
    Hours/week
    1 + 25 related

  • David Bailey

    SECRETARY/TR

    Total calculated
    $0
    Hours/week
    1

  • Brad Benham

    CHAIR-ELECT

    Total calculated
    $0
    Hours/week
    1

  • Kelly Jay

    PAST CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Kelsi Mangrem

    CHAIR

    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

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Written employment contract

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

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
Filed
31 July 2026
IRS schema version
2024v5.0
Source object
202632249349302063

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