Form 990 for tax year 2023
Filed by LAKE GASTON CHAMBER OF COMMERCE.
Totals
- Total revenue
- $155,427
- Total expenses
- $129,566
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $125,287
- Investment income
- $77
- Other revenue
- $30,063
- Total assets, end of year
- $206,332
- Total liabilities, end of year
- $2,092
- Net assets or fund balances, end of year
- $204,240
- Program services expenses (Part IX)
- $129,566
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $129,566
Program services were 100.0% 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 services
total $112,764 · unrelated business $0 · excluded $0
-
2b · Program service revenue: Annual Meeting
total $3,132 · unrelated business $0 · excluded $0
-
2c · Program service revenue: Village Post Office
total $3,486 · unrelated business $0 · excluded $0
-
2d · Program service revenue: Business afer hours
total $117 · unrelated business $0 · excluded $0
-
2e · Program service revenue: Community Christmas
total $0 · unrelated business $0 · excluded $0
-
2f · All other program service revenue
total $5,788 · unrelated business $0 · excluded $0
-
3 · Investment income
total $77 · unrelated business $0 · excluded $77
-
8a · Fundraising events: gross income
$6,185
-
8b · Fundraising events: direct expenses
$6,929
-
8c · Net income from fundraising events
total -$744 · unrelated business $0 · excluded -$744
-
9a · Gaming: gross income
$54,357
-
9b · Gaming: direct expenses
$23,550
-
9c · Net income from gaming
total $30,807 · excluded $30,807
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $53,946 · program services $53,946 · management and general $0 · fundraising $0
-
6 · Compensation of disqualified persons
total $22,641 · program services $22,641 · management and general $0 · fundraising $0
-
7 · Other salaries and wages
total $1,438 · program services $1,438 · management and general $0 · fundraising $0
-
10 · Payroll taxes
total $5,859 · program services $5,859 · management and general $0 · fundraising $0
-
13 · Office expenses
total $13,084 · program services $13,084 · management and general $0 · fundraising $0
-
16 · Occupancy
total $20,385 · program services $20,385 · management and general $0 · fundraising $0
-
22 · Depreciation, depletion and amortization
total $2,902 · program services $2,902 · management and general $0 · fundraising $0
-
23 · Insurance
total $558 · program services $558 · management and general $0 · fundraising $0
-
24a · Other expenses: Member Meeting Expenses
total $5,009 · program services $5,009 · management and general $0 · fundraising $0
-
24b · Other expenses: Miscellaneous Expenses
total $3,516 · program services $3,516 · management and general $0 · fundraising $0
-
24c · Other expenses: Member Mailings
total $228 · program services $228 · management and general $0 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $93,055 · end of year $123,524
-
8 · Inventories for sale or use
beginning of year $5,000 · end of year $5,000
-
10a · Land, buildings and equipment: cost or other basis
$102,250
-
10b · Land, buildings and equipment: accumulated depreciation
$24,442
-
10c · Land, buildings and equipment, net
beginning of year $80,710 · end of year $77,808
-
17 · Accounts payable and accrued expenses
beginning of year $386 · end of year $2,092
-
31 · Retained earnings, endowment or other funds
beginning of year $178,379 · end of year $204,240
Mission and programs · 2023
Mission
To promote and advance the industrial, commercial, civic and general business interest in the lake gaston community and it's surrounding area
-
Member services are primarily designed to help local small businesses prosper which includes promotion of members and their small businesses via a very active website, smart phone application, business expos, promotional materials, networking events, educational seminars, and email advertising. Services are provided by 1 full time and 2 parttime employees. We also promote and assist municipalities, civic clubs, non-profits, churches, health care entities, schools, utilities, and industries as well, but especially in this are, small businesses are the driving force of a healty economy.
Expenses $105,697 · Revenue $95,947
-
The organization purchased it's building with extra office space to be able to offer the many small businesses and non-profit organizations in our rural area with a low-cost rent solution. The office space offered is currently fully rented to four small businesses and one non-profit. In addition to providing much-needed, low cost office space soluitons, we also maintain three different meeting space options for use by the Chamber, Chamber members, and public officials. Meeting space in rural Lake Gaston rgions is also limited
Expenses $13,342 · Revenue $29,176
-
The Lake Gaston Regional Chamber of Commerce also operates the only non-state, non-county affiliated or funded Visitors Center, offering crucial information for the entire two-stat, five county Lake Gaston region. We assist those seeking information on relocation, vacation, local goods and services, and general service questions regarding permits, directions, etc. We also offer our guest free WiFi service, which is bery limited in this region, a Little Free Library for free books, a Village Post Office for reliable and quick mail services (as our post offices are located quite a distance apart and have varying hours of operation), and other needed and limited services, such as copying, faxing, and notary services.
Expenses $10,527
As filed on the 2023 return.
Listed in Part VII
-
Scott Watson
Interim President
- Total calculated
- $0
- Hours/week
- 2
-
Paul Owens
Past Board President
- Total calculated
- $0
- Hours/week
- 4
-
Mary Lou Kellogg
Board Secretary
- Total calculated
- $0
- Hours/week
- 3
-
Julia Allsbrook
Board Treasurer
- Total calculated
- $0
- Hours/week
- 2
-
Angie Acree
Board Vice President
- Total calculated
- $0
- Hours/week
- 3
-
Sarah Evans
Board Director
- Total calculated
- $0
- Hours/week
- 2
-
Gene St Clair
Board Director
- Total calculated
- $0
- Hours/week
- 2
-
Tammy Diacont
Board Director
- Total calculated
- $0
- Hours/week
- 2
-
Dave Blodgett
Board Director
- Total calculated
- $0
- Hours/week
- 2
-
Bob Liddle
Board Director
- Total calculated
- $0
- Hours/week
- 2
-
Heather Abbott
Board Director
- Total calculated
- $0
- Hours/week
- 2
-
Betsy Morris
Board Director
- Total calculated
- $0
- Hours/week
- 2
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.
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.
-
501(c)(3) · Apply for grants and receive charitable contributions. · NC
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 25 April 2024
- IRS schema version
- 2023v5.0
- Source object
- 202411179349300911
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