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Nonprofiteer
← GREATER RALEIGH CHAMBER OF COMMERCE

Form 990 for tax year 2023

Filed by GREATER RALEIGH CHAMBER OF COMMERCE.

Totals

Total revenue
$10,273,551
Total expenses
$8,673,105
Contributions and grants received
$7,109,354
Grants paid
$0
Program service revenue
$3,011,956
Investment income
$145,456
Other revenue
$6,785
Total assets, end of year
$8,228,849
Total liabilities, end of year
$2,036,936
Net assets or fund balances, end of year
$6,191,913
Program services expenses (Part IX)
$4,991,783
Management and general expenses
$2,769,275
Fundraising expenses
$912,047
Program service expenses (Part III)
$4,991,783

Program services were 57.6% 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.

  • 1b · Membership dues

    $3,017,373

  • 1e · Government grants (contributions)

    $1,329,855

  • 1f · All other contributions, gifts and grants

    $2,762,126

  • 1g · Noncash contributions included above

    $203,352

  • 2a · Program service revenue: PROGRAMS/EVENTS

    total $1,958,935 · related or exempt $1,958,935

  • 2b · Program service revenue: COMMUNITY AFFAIRS

    total $845,986 · related or exempt $845,986

  • 2c · Program service revenue: MEMBER SERVICE REVENUE

    total $135,040 · related or exempt $135,040

  • 2d · Program service revenue: REGIONAL TRANSPORTATION

    total $53,525 · related or exempt $53,525

  • 2e · Program service revenue: MEMBER DISCOUNT/PARKING

    total $18,470 · unrelated business $18,470

  • 3 · Investment income

    total $145,456 · excluded $145,456

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $6,785 · related or exempt $6,785

  • 11e · Other revenue, total

    $6,785

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $399,995 · program services $299,996 · management and general $99,999

  • 7 · Other salaries and wages

    total $3,449,625 · program services $1,605,627 · management and general $1,235,423 · fundraising $608,575

  • 8 · Pension plan contributions

    total $291,171 · program services $167,197 · management and general $66,615 · fundraising $57,359

  • 9 · Other employee benefits

    total $353,738 · program services $187,567 · management and general $118,588 · fundraising $47,583

  • 10 · Payroll taxes

    total $278,702 · program services $145,223 · management and general $87,104 · fundraising $46,375

  • 11c · Fees: accounting

    total $62,401 · management and general $62,401

  • 11g · Fees: other

    total $211,669 · program services $169,622 · management and general $22,047 · fundraising $20,000

  • 13 · Office expenses

    total $189,252 · program services $12,161 · management and general $167,304 · fundraising $9,787

  • 17 · Travel

    total $189,859 · program services $92,674 · management and general $88,503 · fundraising $8,682

  • 19 · Conferences, conventions and meetings

    total $39,958 · program services $34,187 · management and general $5,300 · fundraising $471

  • 22 · Depreciation, depletion and amortization

    total $80,469 · management and general $80,469

  • 23 · Insurance

    total $39,311 · program services $15,349 · management and general $23,962

  • 24a · Other expenses: EVENT EXPENSES

    total $1,238,061 · program services $1,105,955 · management and general $27,067 · fundraising $105,039

  • 24b · Other expenses: COMMUNICATIONS AND PRIN

    total $625,851 · program services $357,564 · management and general $268,098 · fundraising $189

  • 24c · Other expenses: RESERVES EXPENSES

    total $355,352 · program services $355,352

  • 24d · Other expenses: BAD DEBT EXPENSE

    total $248,937 · program services $192,970 · management and general $53,215 · fundraising $2,752

  • 24e · All other expenses

    total $618,754 · program services $250,339 · management and general $363,180 · fundraising $5,235

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $147,363 · end of year $790,158

  • 2 · Savings and temporary cash investments

    beginning of year $4,552,039 · end of year $3,588,445

  • 3 · Pledges and grants receivable

    beginning of year $880,774 · end of year $2,421,026

  • 4 · Accounts receivable

    beginning of year $665,078 · end of year $340,610

  • 9 · Prepaid expenses and deferred charges

    beginning of year $32,127 · end of year $92,318

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

    $3,028,793

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

    $2,282,920

  • 10c · Land, buildings and equipment, net

    beginning of year $737,441 · end of year $745,873

  • 15 · Other assets

    beginning of year $160,869 · end of year $250,419

  • 17 · Accounts payable and accrued expenses

    beginning of year $737,968 · end of year $409,426

  • 19 · Deferred revenue

    beginning of year $1,684,039 · end of year $1,471,108

  • 25 · Other liabilities

    beginning of year $162,217 · end of year $156,402

  • 27 · Net assets without donor restrictions

    beginning of year $2,199,859 · end of year $2,221,390

  • 28 · Net assets with donor restrictions

    beginning of year $2,391,608 · end of year $3,970,523

Mission and programs · 2023

Mission

TO BUILD A THRIVING REGIONAL ECONOMY, ENHANCE THE COMMUNITY'S QUALITY OF LIFE, AND STRENGTHEN MEMBER BUSINESSES.

  • THE ORGANIZATION MAINTAINS AN ECONOMIC DEVELOPMENT PROGRAM WHOSE FUNCTION IS TO ATTRACT NEW BUSINESSES TO THE RALEIGH AREA.

    Expenses $2,555,443 · Revenue $138,988

  • THE ORGANIZATION PROVIDES SUPPORT TO ITS MEMBERSHIP THROUGH PROVIDING VARIOUS SEMINARS AND NETWORKING OPPORTUNITIES.

    Expenses $1,922,682 · Revenue $2,651,483

  • THE ORGANIZATION ADVOCATES AND SUPPORTS TRANSPORTATION AND INFRASTRUCTURE PRIORITIES THROUGH THE REGIONAL TRANSPORTATION ALLIANCE.

    Expenses $513,658 · Revenue $53,525

As filed on the 2023 return.

Listed in Part VII

  • GARY GREENE

    CHAIR

    Total calculated
    $0
    Hours/week
    4 + 2 related

  • DAN CAHILL

    IMMEDIATE PAST CHAIR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • KEVIN HOWELL

    PAST CHAIR

    Total calculated
    $0
    Hours/week
    4 + 2 related

  • O'HARA MACKEN

    PAST CHAIR

    Total calculated
    $0
    Hours/week
    4 + 2 related

  • KRISTEN HESS

    TREASURER

    Total calculated
    $0
    Hours/week
    4 + 2 related

  • RUSSELL KILLEN

    GENERAL COUNSEL

    Total calculated
    $0
    Hours/week
    4 + 2 related

  • SHAN TEEL

    CHAIR-ELECT

    Total calculated
    $0
    Hours/week
    4 + 2 related

  • TAMARA TERRY

    VICE CHAIR-DEI

    Total calculated
    $0
    Hours/week
    4 + 2 related

  • DAVID CROSBY

    VICE CHAIR-ECONOMIC DEVELOPMENT

    Total calculated
    $0
    Hours/week
    4 + 2 related

  • TIA MCLAURIN

    VICE CHAIR-ENTREPRENEURSHIP

    Total calculated
    $0
    Hours/week
    4 + 2 related

  • DON MCCORQUODALE

    VICE CHAIR-GOVERNMENT AFFAIRS

    Total calculated
    $0
    Hours/week
    4 + 2 related

  • COURTNEY WHITE

    VICE CHAIR-LEADERSHIP DEVELOPMENT

    Total calculated
    $0
    Hours/week
    4 + 2 related

  • LAURA BUNN

    VICE CHAIR-MEMBERSHIP DEVELOPMENT

    Total calculated
    $0
    Hours/week
    4 + 2 related

  • ABHA BOWERS

    EXECUTIVE COMMITTEE AT LARGE

    Total calculated
    $0
    Hours/week
    4 + 2 related

  • ALLYSON DICKENS

    EXECUTIVE COMMITTEE AT LARGE

    Total calculated
    $0
    Hours/week
    4 + 2 related

  • BAKER GLASGOW

    EXECUTIVE COMMITTEE AT LARGE

    Total calculated
    $0
    Hours/week
    4 + 2 related

  • BONNER GAYLORD

    EXECUTIVE COMMITTEE AT LARGE

    Total calculated
    $0
    Hours/week
    4 + 2 related

  • KEVIN MCLAUGHLIN

    EXECUTIVE COMMITTEE AT LARGE

    Total calculated
    $0
    Hours/week
    4 + 2 related

  • ADRIA JERVAY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • BRIAN RALPH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • CHERYL SCANLAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • CHRIS HEAGARTY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • COURTNEY CROWDER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • BARBARA GRIFFITH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • FRANCIE GOTTSEGEN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JASON SANDNER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JENNIFER ALLEN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JOEL DAVIS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JOEL GRAYBEAL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JOHN WARD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JULE SMITH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • KADE ROSS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • KEVIN WALKER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • KURT HEUSNER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • LAURA GWYN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MARK CARLTON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MARK JOHNSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MARY-ANN BALDWIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MITCH PERRY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • HYUNNA COELHO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • PATRICIA BURCH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • SCOTT LEVITAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • SHARON MOE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • SHINICA THOMAS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • STEVE HEPLER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • SUSAN SANFORD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • TED KLINCK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • TIMOTHY HUMPHREY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • TERRENCE HOLT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • TOM FRITSCH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • TRAVIS BRISBON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JAY IRBY

    EX OFFICIO

    Total calculated
    $0
    Hours/week
    4

  • ADRIENNE COLE

    EXECUTIVE DIRECTOR

    Total calculated
    $399,994
    From this org
    $366,994
    From related orgs
    $0
    Other
    $33,000
    Hours/week
    32 + 8 related

    Schedule J breakdown matched by us

    Base
    $290,355
    Bonus
    $56,660
    Other
    $19,979
    Deferred
    $33,000
    Nontaxable benefits
    $0
    Filer's total
    $399,994

  • JANET POTTER

    GENERAL MGR./SENIOR VP

    Total calculated
    $216,048
    From this org
    $196,407
    From related orgs
    $0
    Other
    $19,641
    Hours/week
    32 + 8 related

    Schedule J breakdown matched by us

    Base
    $167,625
    Bonus
    $25,680
    Other
    $3,102
    Deferred
    $19,641
    Nontaxable benefits
    $0
    Filer's total
    $216,048

  • JOE MILAZZO II

    EXECUTIVE DIRECTOR

    Total calculated
    $199,982
    From this org
    $181,802
    From related orgs
    $0
    Other
    $18,180
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $139,050
    Bonus
    $17,460
    Other
    $25,292
    Deferred
    $18,180
    Nontaxable benefits
    $0
    Filer's total
    $199,982

  • MICHAEL HALEY

    SVP OF ECONOMIC DEVELOPMENT

    Total calculated
    $197,299
    From this org
    $179,363
    From related orgs
    $0
    Other
    $17,936
    Hours/week
    35 + 5 related

    Schedule J breakdown matched by us

    Base
    $151,398
    Bonus
    $20,250
    Other
    $7,715
    Deferred
    $17,936
    Nontaxable benefits
    $0
    Filer's total
    $197,299

  • EVELYN LUCAS

    RELATIONSHIP MANAGER

    Total calculated
    $162,147
    From this org
    $147,406
    From related orgs
    $0
    Other
    $14,741
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $136,035
    Bonus
    $9,280
    Other
    $2,091
    Deferred
    $14,741
    Nontaxable benefits
    $0
    Filer's total
    $162,147

  • JACQUELINE HUITT

    SVP OF REVENUE DEVELOPMENT

    Total calculated
    $140,468
    From this org
    $127,698
    From related orgs
    $0
    Other
    $12,770
    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. 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

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

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

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.

  • GREATER RALEIGH CHAMBER OF COMMERCE COMMUNITY DEVELOPMENT FOUNDATION

    501 (C)(3) · CIVIC BETTERMENT AND ECONOMIC DEVELOPMENT · NC

Provenance

Return type
form_990
Tax year
2023
Filed
12 August 2025
IRS schema version
2023v6.0
Source object
202522259349300247

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