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← HOPKINS COUNTY REGIONAL CHAMBER OF COMMERCE

Form 990 for tax year 2024

Filed by HOPKINS COUNTY REGIONAL CHAMBER OF COMMERCE.

Totals

Total revenue
$244,203
Total expenses
$304,607
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$227,554
Investment income
$737
Other revenue
$15,912
Total assets, end of year
$269,186
Total liabilities, end of year
$65,729
Net assets or fund balances, end of year
$203,457
Program services expenses (Part IX)
$224,508
Management and general expenses
$80,099
Fundraising expenses
$0
Program service expenses (Part III)
$224,508

Program services were 73.7% 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.

  • 2a · Program service revenue: MEMBERSHIP DUES

    total $133,565 · related or exempt $133,565

  • 2b · Program service revenue: EVENING OF THE STARS

    total $24,925 · related or exempt $24,925

  • 2c · Program service revenue: LEADERSHIP HOPKINS COUNTY

    total $24,813 · related or exempt $24,813

  • 2d · Program service revenue: NEWSLETTERS,DIRECTORY,ETC.

    total $12,945 · related or exempt $12,945

  • 2e · Program service revenue: CHAMBER CHECKS

    total $10,195 · related or exempt $10,195

  • 2f · All other program service revenue

    total $21,111 · related or exempt $21,111

  • 3 · Investment income

    total $737 · excluded $737

  • 8a · Fundraising events: gross income

    $28,050

  • 8b · Fundraising events: direct expenses

    $15,251

  • 8c · Net income from fundraising events

    total $12,799 · excluded $12,799

  • 10a · Gross sales of inventory

    $31,780

  • 10b · Cost of goods sold

    $35,060

  • 10c · Net income from sales of inventory

    total -$3,280 · excluded -$3,280

  • 11a · Other revenue: MISC

    total $5,411 · related or exempt $5,411

  • 11b · Other revenue: CREDIT CARD REFER

    total $612 · related or exempt $612

  • 11c · Other revenue: WORKERS COMP INCOME

    total $370 · related or exempt $370

  • 11e · Other revenue, total

    $6,393

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $101,735 · program services $76,301 · management and general $25,434

  • 10 · Payroll taxes

    total $7,844 · program services $5,883 · management and general $1,961

  • 11c · Fees: accounting

    total $11,125 · program services $2,225 · management and general $8,900

  • 12 · Advertising and promotion

    total $1,202 · management and general $1,202

  • 13 · Office expenses

    total $2,190 · management and general $2,190

  • 16 · Occupancy

    total $9,212 · program services $4,606 · management and general $4,606

  • 17 · Travel

    total $2,086 · program services $1,043 · management and general $1,043

  • 19 · Conferences, conventions and meetings

    total $4,071 · program services $4,071

  • 22 · Depreciation, depletion and amortization

    total $9,204 · program services $5,560 · management and general $3,644

  • 23 · Insurance

    total $6,914 · management and general $6,914

  • 24a · Other expenses: COGS

    total $75,685 · program services $75,685

  • 24b · Other expenses: LEADERSHIP PROGRAM EXPENS

    total $24,813 · program services $24,813

  • 24c · Other expenses: TELEPHONE

    total $9,800 · program services $4,900 · management and general $4,900

  • 24d · Other expenses: CITY/COUNTY LUNCH

    total $6,092 · program services $6,092

  • 24e · All other expenses

    total $32,634 · program services $13,329 · management and general $19,305

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $170,994 · end of year $127,299

  • 4 · Accounts receivable

    beginning of year $57,656 · end of year $49,900

  • 9 · Prepaid expenses and deferred charges

    beginning of year $12,177 · end of year $590

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

    $340,845

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

    $249,448

  • 10c · Land, buildings and equipment, net

    beginning of year $97,776 · end of year $91,397

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,707 · end of year $2,340

  • 19 · Deferred revenue

    beginning of year $69,592 · end of year $62,716

  • 25 · Other liabilities

    beginning of year $2,444 · end of year $673

  • 31 · Retained earnings, endowment or other funds

    beginning of year $263,860 · end of year $203,457

Mission and programs · 2024

Mission

TO PROVIDE SERVICES TO BUSINESSES AND INDIVIDUALS IN THE LOCAL COMMUNITY IN AN EFFORT TO PROMOTE BUSINESS AND ECONOMIC DEVELOPMENT IN THE COMMUNITY.

  • SPONSOR AN ANNUAL BANQUET AND A FARM CITY BREAKFAST TO RECOGNIZE OUTSTANDING LEADERS IN THE BUSINESS, GOVERNMENT, HEALTHCARE, AND AGRICULTURAL FIELDS. THESE ACTIVITIES PROVIDE AN OPPORTUNITY FOR THE ENTIRE COMMUNITY TO NETWORK AND PROMOTE ECONOMIC GROWTH.

    Expenses $13,559 · Revenue $13,646

  • SPONSOR VARIOUS ACTIVIES THROUGHOUT THE YEAR TO PROMOTE NETWORKING WITHIN THE BUSINESSES AND THE COMMUNITY. THESE ACTIVITIES ALSO HIGHLIGHT NEW AND EXISTING BUSINESSES TO THE COMMUNITY.

    Expenses $110,330 · Revenue $175,540

  • SPONSOR A LEADERSHIP PROGRAM TO THE COMMUNITY TO HELP TRAIN FUTURE COMMUNITY LEADERS. APPROXIMATELY TWENTY PARTICIPANTS ARE SELECTED FOR EACH CLASS.

    Expenses $35,904 · Revenue $24,813

  • PUBLISH AN ANNUAL DIRECTORY TO HIGHLIGHT INDIVIDUALS AND BUSINESSES WITHIN THE COMMUNITY. APPROXIMATELY 700 DIRECTORIES ARE PRINTED EACH YEAR AND GIVEN TO CHAMBER MEMBERS AND NEW MEMBERS TO THE COMMUNITY. NEWSLETTERS ARE EMAILED TO APPROXIMATLEY 700 PEOPLE. THESE ACTIVITIES HELP TO PROMOTE SHOPPING AND ECONOMIC DEVELOPMENT IN THE COMMUNITY. ALLIANCE WITH OTHER AREA CHAMBERS, AND HELP PROMOTE THE CHAMBER'S COMMUNITY. TO PROVIDE CHAMBER MEMBERS THE OPPORTUNITY TO TRAVEL TO DIFFERENT AREAS TO SEE HOW BUSINESSES OPERATE IN DIFFERENT LOCATIONS. THIS HELPS TO PROMOTE ECONOMIC DEVELOPMENT WITH IDEA GROWTH, NETWORKING, AND GENERATION OF LEADS FOR NEW BUSINESSES TO MOVE TO THE AREA. ALLIANCE WITH OTHER CHAMBERS ALLOWS FOR THE CONTINUED OPPORTUNITY TO GROW LOCAL BUSINESSES WITH THE LEARNING OPPORTUNITIES.

    Expenses $64,715 · Revenue $18,985

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

Listed in Part VII

  • Julie Barritt

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Travis Bearden

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Andy Belcher

    LEADERSHIP H

    Total calculated
    $0
    Hours/week
    3

  • Stephanie Bowles

    PAST CHAIR

    Total calculated
    $0
    Hours/week
    3

  • Keith Cottoner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Hillary Croft

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lyle Crouch

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    3

  • Dr Cindy Kelley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Katy McGlothlin

    CHAIR

    Total calculated
    $0
    Hours/week
    3

  • Brooke Miller

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tricia Noel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kristy Quinn

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Buffie Reynolds

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bill Rudd

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Amy Smith

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sara Spencer

    PUBLIC RELAT

    Total calculated
    $0
    Hours/week
    3

  • Melanie Tapp

    HOPKINS COUN

    Total calculated
    $0
    Hours/week
    3

  • Devi Thorp

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Daniel Wagner

    TREASURER

    Total calculated
    $0
    Hours/week
    3

  • Karen Solise

    PRESIDENT

    Total calculated
    $0
    Hours/week
    40

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.

Provenance

Return type
form_990
Tax year
2024
Filed
17 April 2025
IRS schema version
2024v5.0
Source object
202531289349300523

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