Form 990 for tax year 2023

Filed by COLUMBUS AREA CHAMBER FOUNDATION INC.

Totals

Total revenue: $971,323
Total expenses: $828,460
Contributions and grants received: $971,323
Grants paid: $579,425
Program service revenue: $0
Investment income: $0
Other revenue: $0
Total assets, end of year: $505,599
Total liabilities, end of year: $25,991
Net assets or fund balances, end of year: $479,608
Program services expenses (Part IX): $818,290
Management and general expenses: $10,170
Fundraising expenses: $0
Program service expenses (Part III): $818,290

Program services were 98.8% 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

$971,323

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $579,425 · program services $579,425
11c · Fees: accounting

total $11,785 · program services $1,625 · management and general $10,160
12 · Advertising and promotion

total $5,223 · program services $5,223
13 · Office expenses

total $9,541 · program services $9,531 · management and general $10
16 · Occupancy

total $43,321 · program services $43,321
22 · Depreciation, depletion and amortization

total $17,338 · program services $17,338
23 · Insurance

total $5,755 · program services $5,755
24a · Other expenses: EVENT EXPENSES

total $124,324 · program services $124,324
24b · Other expenses: MAINTENANCE

total $20,714 · program services $20,714
24c · Other expenses: SECURITY

total $11,034 · program services $11,034

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $172,958 · end of year $279,968
10a · Land, buildings and equipment: cost or other basis

$240,067
10b · Land, buildings and equipment: accumulated depreciation

$25,927
10c · Land, buildings and equipment, net

beginning of year $182,984 · end of year $214,140
15 · Other assets

beginning of year $28,364 · end of year $11,491
17 · Accounts payable and accrued expenses

beginning of year $11,697 · end of year $0
25 · Other liabilities

beginning of year $35,864 · end of year $25,991
27 · Net assets without donor restrictions

beginning of year $161,823 · end of year $200,147
28 · Net assets with donor restrictions

beginning of year $174,922 · end of year $279,461

Mission and programs · 2023

Mission

THE COLUMBUS AREA CHAMBER FOUNDATION ENCOMPASSES A DIVERSE ARRAY OF COMMUNITY PROGRAMS DEDICATED TO FOSTERING ENTREPRENEURSHIP, DRIVING ECONOMIC DEVELOPMENT, AND ATTRACTING AND RETAINING TALENT.

Activities or mission (Part I)

TO ORGANIZE ECONOMIC PROGRAMS TO BENEFIT THE RESIDENTS OF COLUMBUS/BARTHOLOMEW COUNTY.

THE COLUMBUS PROPELLER WAS FORMED IN MARCH 2021 TO CREATE A MAKERSPACE FOR THE COMMUNITY. TARGETED INVESTMENT IN MINORITY ENTREPRENEURS (TIME) WAS CREATED TO BUILD FINANCIAL BRIDGES AND INCREASE THE LIKELIHOOD OF SUCCESS FOR LOCAL MINORITY ENTREPRENEURS. THE FOUNDATION RECEIVES THE FUNDING FOR TIME AND MANAGES THE EXPENSES. VELOCITIES IS A REGIONAL PARTNERSHIP WITH ELEVATE VENTURES AND THE MILL BASED IN BLOOMINGTON. VELOCITIES OFFERS ONE-ON-ONE MENTORING AND EARLY STAGE CAPITAL AND EDUCATIONAL PROGRAMS. THE FOUNDATION IS THE FISCAL AGENT FOR ALL THREE PROGRAMS. IN 2023, THE PROAM TOURNAMENT WAS CREATED AS A FUNDING AID FOR THE COLUMBUS PROPELLER PROGRAM.

Expenses $818,290 · Grants $579,425

As filed on the 2023 return.

Listed in Part VII

John SadtlerJOHN SADTLER

BOARD MEMBER

Total calculated

$0

Hours/week

1
Mandy WyantMANDY WYANT

BOARD MEMBER

Total calculated

$0

Hours/week

1
Tara BoardTARA BOARD

BOARD MEMBER

Total calculated

$0

Hours/week

1
Cindy FreyCINDY FREY

PRESIDENT

Total calculated

$0

Hours/week

1
Jonas HowellJONAS HOWELL

BOARD MEMBER

Total calculated

$0

Hours/week

1
Nick SpragueNICK SPRAGUE

BOARD MEMBER

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.

Grants on this return

COLUMBUS AREA CHAMBER OF COMMERCE

$406,435

COMMISSION FUNDS FOR NEW BUILDING
GREATER COLUMBUS INDIANA EDC

$52,000

FUNDS TO ASSIST MINORITY OWNED BUSINESSES.
A FAST BREAK

$10,000

FUNDS TO ASSIST MINORITY OWNED BUSINESSES.
COACH'S CUTZ

$10,000

FUNDS TO ASSIST MINORITY OWNED BUSINESSES.
STYLEZ BY NETTE

$10,000

FUNDS TO ASSIST MINORITY OWNED BUSINESSES.
BANKIN BABY BBQ

$8,500

FUNDS TO ASSIST MINORITY OWNED BUSINESSES.
CISCO BARBERSHOP

$7,500

FUNDS TO ASSIST MINORITY OWNED BUSINESSES.
FINE LINE PAINTING

$7,500

FUNDS TO ASSIST MINORITY OWNED BUSINESSES.
ADVANCE BUSINESS COMPUTING

$7,000

FUNDS TO ASSIST MINORITY OWNED BUSINESSES.

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.

COLUMBUS AREA CHAMBER OF COMMERCE INC

501(C)(3) · FUNDING THE CITY OF COLUMBUS · IN

Provenance

Return type: form_990
Tax year: 2023
Filed: 6 August 2024
IRS schema version: 2023v5.1
Source object: 202412199349301201

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