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← ASHEVILLE AREA CHAMBER OF COMMERCE COMMUNITY BETTERMENT FOUNDATION

Form 990 for tax year 2022

Filed by ASHEVILLE AREA CHAMBER OF COMMERCE COMMUNITY BETTERMENT FOUNDATION.

Totals

Total revenue
$3,782,364
Total expenses
$4,013,723
Contributions and grants received
$3,154,301
Grants paid
$491,147
Program service revenue
$573,857
Investment income
$21,707
Other revenue
$32,499
Total assets, end of year
$2,151,279
Total liabilities, end of year
$1,027,221
Net assets or fund balances, end of year
$1,124,058
Program services expenses (Part IX)
$3,981,475
Management and general expenses
$0
Fundraising expenses
$32,248
Program service expenses (Part III)
$3,981,475

Program services were 99.2% 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.

  • 1e · Government grants (contributions)

    $375,000

  • 1f · All other contributions, gifts and grants

    $2,779,301

  • 2a · Program service revenue: FRENCH BROAD RIVER BRI

    total $489,434 · related or exempt $489,434

  • 2b · Program service revenue: FOLK HERITAGE COMMITTE

    total $45,114 · related or exempt $45,114

  • 2c · Program service revenue: INCLUSIVE HIRING PARTN

    total $39,309 · related or exempt $39,309

  • 3 · Investment income

    total $21,707 · excluded $21,707

  • 11a · Other revenue: MISCELLANEOUS REV.

    total $32,499 · excluded $32,499

  • 11e · Other revenue, total

    $32,499

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $491,147 · program services $491,147

  • 24a · Other expenses: FRENCH BROAD RIVER BRID

    total $3,268,272 · program services $3,268,272

  • 24b · Other expenses: ACCELERATE BUNCOMBE COU

    total $181,089 · program services $181,089

  • 24c · Other expenses: FOLK HERITAGE COMMITTEE

    total $40,967 · program services $40,967

  • 24d · Other expenses: MISC. EXPENSES

    total $32,248 · fundraising $32,248

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $727,849 · end of year $108,338

  • 2 · Savings and temporary cash investments

    beginning of year $713,223 · end of year $1,036,230

  • 3 · Pledges and grants receivable

    beginning of year $1,257,141 · end of year $971,477

  • 4 · Accounts receivable

    beginning of year $3,100 · end of year $165

  • 8 · Inventories for sale or use

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

  • 9 · Prepaid expenses and deferred charges

    end of year $5,327

  • 15 · Other assets

    beginning of year $254 · end of year $26,312

  • 17 · Accounts payable and accrued expenses

    beginning of year $105 · end of year $2,461

  • 19 · Deferred revenue

    beginning of year $1,262,140 · end of year $971,476

  • 25 · Other liabilities

    beginning of year $88,394 · end of year $53,284

  • 27 · Net assets without donor restrictions

    beginning of year $1,354,358 · end of year $1,124,058

Mission and programs · 2022

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 RECEIVED FUNDS FROM THE GOLDEN LEAF FOUNDATION AND DISBURSED SAID FUNDS TO THE ASHEVILLE CHAMBER TO OPERATE INCLUSIVE HIRING PARTNERS, A RESOURCE TO CLOSE THE OPPORTUNITY GAP THAT CONNECTS BUNCOMBE COUNTY RESIDENTS EXPERIENCING EMPLOYMENT BARRIERS LIKE FORMER JUSTICE INVOLVEMENT, PREVIOUS INCARCERATION, SUBSTANCE USE DISORDER RECOVERY, INTERGENERATIONAL POVERTY, LONG-TERM UNEMPLOYMENT, OR LONG-TERM UNDEREMPLOYMENT WITH WELL-PAYING CAREERS IN HIGH-DEMAND INDUSTRIES.3 RECEIVED FUNDS FROM THE GOLDEN LEAF FOUNDATION AND BILTMORE FARMS LLC AND PAID SAID FUNDS TO CONSTRUCTION VENDORS BUILDING A BRIDGE SPANNING THE FRENCH BROAD RIVER THAT WILL PROVIDE ACCESS TO A PRATT & WHITNEY MANUFACTURING FACILITY. 4 PROVIDED BUSINESSES OWNED BY PEOPLE OF COLOR ADVERTISING BENEFITS AND MEMBERSHIPS IN THE ASHEVILLE CHAMBER THROUGH THE PEOPLE'S COMMUNITY AND INCLUSION INITIATIVE. 5 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.

    Expenses $3,981,475 · Grants $491,147 · Revenue $573,857

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • JANICE BRUMIT

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • JOHN F A V CECIL

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • SUZANNE DEFERIE

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • BEN HAMRICK

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • W LOUIS BISSETTE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • TRACY BUCHANAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • WILLIAM A V CECIL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • CAROLYN COWARD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • HIMANSHU KARVIR

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL MEGUIAR

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ROBERT ROBERTS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • DANA STONESTREET

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JOHN WINKENWERDER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • LAURA WEBB

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • AUSTIN WALKER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • TERRI KING

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • KATHRYN CRAMER

    SECRETARY

    Total calculated
    $313,550
    From this org
    $0
    From related orgs
    $288,212
    Other
    $25,338
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $282,212 related
    Bonus
    $0
    Other
    $0 + $6,000 related
    Deferred
    $0 + $18,114 related
    Nontaxable benefits
    $0 + $7,224 related
    Filer's total
    $0 + $313,550 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

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
2022
Filed
3 April 2024
IRS schema version
2022v5.0
Source object
202440949349301314

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