Skip to content
Nonprofiteer
← MINERAL WELLS AREA CHAMBER OF COMMERCE

Form 990 for tax year 2023

Filed by MINERAL WELLS AREA CHAMBER OF COMMERCE.

Totals

Total revenue
$785,982
Total expenses
$723,711
Contributions and grants received
$537,716
Grants paid
$40,310
Program service revenue
$183,186
Investment income
$63,703
Other revenue
$1,377
Total assets, end of year
$1,030,346
Total liabilities, end of year
$2,100
Net assets or fund balances, end of year
$1,028,246
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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.

  • 1b · Membership dues

    $163,298

  • 1e · Government grants (contributions)

    $372,618

  • 1f · All other contributions, gifts and grants

    $1,800

  • 2a · Program service revenue: COMMUNITY EVENTS & MEMBR SUPP

    total $183,186 · related or exempt $183,186

  • 3 · Investment income

    total $24,640 · excluded $24,640

  • 6a · Gross rents

    real property $200

  • 6c · Rental income or loss

    real property $200

  • 6d · Net rental income or loss

    total $200 · excluded $200

  • 7a · Gross sales of assets other than inventory

    securities $164,185 · other assets $243,842

  • 7b · Less cost or other basis and sales expenses

    securities $118,182 · other assets $250,782

  • 7c · Gain or loss

    securities $46,003 · other assets -$6,940

  • 7d · Net gain or loss

    total $39,063 · related or exempt -$7,001 · excluded $46,064

  • 10a · Gross sales of inventory

    $8,285

  • 10b · Cost of goods sold

    $7,108

  • 10c · Net income from sales of inventory

    total $1,177 · excluded $1,177

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $40,310

  • 7 · Other salaries and wages

    total $273,955

  • 8 · Pension plan contributions

    total $5,607

  • 10 · Payroll taxes

    total $21,345

  • 11c · Fees: accounting

    total $9,978

  • 11f · Fees: investment management

    total $2,854

  • 11g · Fees: other

    total $32,312

  • 12 · Advertising and promotion

    total $85,765

  • 13 · Office expenses

    total $16,036

  • 14 · Information technology

    total $29,013

  • 16 · Occupancy

    total $54,740

  • 17 · Travel

    total $17,197

  • 19 · Conferences, conventions and meetings

    total $7,463

  • 23 · Insurance

    total $920

  • 24a · Other expenses: COMMUNITY EVENTS/PROMOTIO

    total $109,536

  • 24b · Other expenses: DUES & MEMBERSHIPS

    total $10,513

  • 24c · Other expenses: CREDIT CARD PROC & BANK F

    total $6,167

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $91,309 · end of year $51,489

  • 2 · Savings and temporary cash investments

    beginning of year $376,663 · end of year $356,570

  • 4 · Accounts receivable

    end of year $4,240

  • 8 · Inventories for sale or use

    beginning of year $3,500 · end of year $3,500

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

    $11,809

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

    $11,809

  • 10c · Land, buildings and equipment, net

    beginning of year $250,782

  • 11 · Investments: publicly traded securities

    beginning of year $260,659 · end of year $614,547

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,037 · end of year $2,100

  • 31 · Retained earnings, endowment or other funds

    beginning of year $977,876 · end of year $1,028,246

Mission and programs · 2023

Mission

TO PROMOTE ECONOMIC GROWTH, TOURISM AND LEADERSHIP DEVELOPMENT IN THE CITY OF MINERAL WELLS, TEXAS, AND SURROUNDING AREAS.

  • THE CHAMBER COORDINATES ADVERTISING AND EVENTS TO ATTRACT VISITORS AND NEW BUSINESSES TO MINERAL WELLS, TEXAS. IN ADDITION, THE CHAMBER PROVIDES RESOURCES TO SUPPORT AND TRAIN LOCAL BUSINESS OWNERS.

  • GRANTS TO LOCAL ORGANIZATIONS ATTRACTING TOURISM AND NEW BUSINESSES TO THE MINERAL WELLS, TX, AREA

As filed on the 2023 return.

Listed in Part VII

  • SHAWN BROWN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • SHEILA CHARLES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • CORY CRENSHAW

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • NIKKI ELMS

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • TROY HUSEMAN

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • CODY JORDAN

    PAST CHAIR

    Total calculated
    $0
    Hours/week
    1

  • ANGIE MYRICK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • CHRISTINA PHENIX

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • JESSICA SAMPLES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • BRIDGET SHELTON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • MELODY SINGLETON

    CHAIR ELECT

    Total calculated
    $0
    Hours/week
    1

  • COLE VAUGHAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • PAT ANN WILSON

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • BRIDGETT WORLEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

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

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
2023
Filed
10 February 2025
IRS schema version
2023v6.0
Source object
202520649349300617

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.