Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $3,091,486

• 1f · All other contributions, gifts and grants

  $1,691,318

• 2a · Program service revenue: SPONSORSHIPS

  total $441,000 · related or exempt $441,000

• 2b · Program service revenue: KITCHEN AND STORAGE RENTAL INCOME

  total $127,909 · related or exempt $127,909

• 2c · Program service revenue: CONTRACT REVENUE

  total $26,285 · related or exempt $26,285

• 3 · Investment income

  total $20,524 · excluded $20,524

• 10a · Gross sales of inventory

  $1,467,898

• 10b · Cost of goods sold

  $1,163,187

• 10c · Net income from sales of inventory

  total $304,711 · related or exempt $304,711

• 11a · Other revenue: OTHER INCOME

  total $3,768 · related or exempt $3,768

• 11e · Other revenue, total

  $3,768

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $9,500 · program services $9,500

• 11a · Fees: management

  total $377,382 · program services $338,137 · management and general $39,245

• 11c · Fees: accounting

  total $48,104 · program services $48,104

• 11g · Fees: other

  total $40,708 · program services $40,708

• 12 · Advertising and promotion

  total $29,155 · program services $29,155

• 13 · Office expenses

  total $1,929 · program services $1,929

• 14 · Information technology

  total $1,751 · program services $1,751

• 16 · Occupancy

  total $160,288 · program services $160,288

• 17 · Travel

  total $98,290 · program services $98,290

• 22 · Depreciation, depletion and amortization

  total $47,623 · program services $47,623

• 23 · Insurance

  total $20,004 · program services $20,004

• 24a · Other expenses: PROGRAMS AND EVENTS

  total $140,200 · program services $140,200

• 24b · Other expenses: MISCELLANEOUS EXPENSE

  total $78,453 · program services $69,627 · management and general $8,826

• 24c · Other expenses: EQUIPMENT AND OPERATION

  total $52,625 · program services $52,625

• 24d · Other expenses: BAD DEBTS

  total $20,597 · program services $20,597

• 24e · All other expenses

  total $17,596 · program services $17,596

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $323,482 · end of year $672,717

• 2 · Savings and temporary cash investments

  beginning of year $25,004 · end of year $31,251

• 3 · Pledges and grants receivable

  beginning of year $742,939 · end of year $1,302,833

• 4 · Accounts receivable

  beginning of year $172,853 · end of year $107,080

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

  $4,130,037

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

  $92,561

• 10c · Land, buildings and equipment, net

  beginning of year $712,522 · end of year $4,037,476

• 12 · Investments: other securities

  beginning of year $476,755 · end of year $1,405,327

• 15 · Other assets

  beginning of year $486,866 · end of year $416,412

• 17 · Accounts payable and accrued expenses

  beginning of year $217,960 · end of year $657,885

• 19 · Deferred revenue

  beginning of year $43,750

• 25 · Other liabilities

  beginning of year $570,475 · end of year $611,079

• 27 · Net assets without donor restrictions

  beginning of year $23,310 · end of year $452,886

• 28 · Net assets with donor restrictions

  beginning of year $2,084,926 · end of year $6,251,246

The filer's explanations (Part III)

PART I, LINE 3

ALL EMPLOYEES ARE EMPLOYEES OF THE CHAMBER, AN ENTITY RELATED THROUGH COMMON BOARD MEMBERSHIP. ALL COMPENSATION IS PAID ENTIRELY BY WRCC AND RECORDED IN THE CONSOLIDATING AUDITED FINANCIAL STATEMENTS OF THE CHAMBER AND THE FOUNDATION.