Form 990 for tax year 2024

Filed by HIGH POINT CHAMBER FOUNDATION INC.

Totals

Total revenue: $1,753,432
Total expenses: $2,110,252
Contributions and grants received: $508,259
Grants paid: $0
Program service revenue: $0
Investment income: $56,074
Other revenue: $1,189,099
Total assets, end of year: $9,089,734
Total liabilities, end of year: $3,698,421
Net assets or fund balances, end of year: $5,391,313
Program services expenses (Part IX): $2,110,252
Management and general expenses: $0
Fundraising expenses: $0
Program service expenses (Part III): $2,110,252

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.

1f · All other contributions, gifts and grants

$508,259
3 · Investment income

total $56,074 · excluded $56,074
6a · Gross rents

real property $2,060,671
6b · Less rental expenses

real property $873,562
6c · Rental income or loss

real property $1,187,109
6d · Net rental income or loss

total $1,187,109 · excluded $1,187,109
11a · Other revenue: SECURITY DEPOSIT FORFEITURES

total $1,990 · excluded $1,990
11e · Other revenue, total

$1,990

Functional expenses

Part IX, the statement of functional expenses.

7 · Other salaries and wages

total $537,963 · program services $537,963
9 · Other employee benefits

total $47,060 · program services $47,060
10 · Payroll taxes

total $11,924 · program services $11,924
11a · Fees: management

total $98,688 · program services $98,688
11b · Fees: legal

total $7,755 · program services $7,755
11c · Fees: accounting

total $31,835 · program services $31,835
12 · Advertising and promotion

total $120,331 · program services $120,331
13 · Office expenses

total $21,800 · program services $21,800
16 · Occupancy

total $60,000 · program services $60,000
22 · Depreciation, depletion and amortization

total $245,837 · program services $245,837
23 · Insurance

total $65,549 · program services $65,549
24a · Other expenses: MEI THRIVE STATE GRANT

total $432,486 · program services $432,486
24b · Other expenses: WORKFORCE GRANT EXPENSE

total $142,128 · program services $142,128
24c · Other expenses: MEI THRIVE GRANT OPS EX

total $109,107 · program services $109,107
24d · Other expenses: LEASING COMMISSIONS

total $60,139 · program services $60,139
24e · All other expenses

total $117,650 · program services $117,650

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $3,321,543 · end of year $3,059,713
4 · Accounts receivable

beginning of year $256,960 · end of year $316,683
7 · Other notes and loans receivable

beginning of year $928,119 · end of year $883,578
10a · Land, buildings and equipment: cost or other basis

$5,574,878
10b · Land, buildings and equipment: accumulated depreciation

$745,118
10c · Land, buildings and equipment, net

beginning of year $5,098,580 · end of year $4,829,760
17 · Accounts payable and accrued expenses

beginning of year $196,125 · end of year $102,027
19 · Deferred revenue

beginning of year $24,938
23 · Secured mortgages and notes payable

beginning of year $3,500,000 · end of year $3,500,000
25 · Other liabilities

beginning of year $104,250 · end of year $96,394
27 · Net assets without donor restrictions

beginning of year $3,525,202 · end of year $854,957
28 · Net assets with donor restrictions

beginning of year $2,254,687 · end of year $4,536,356

Mission and programs · 2024

Mission

(1) TO PROMOTE THE ADVANCEMENT AND DISSEMINATION OF KNOWLEDGE AND UNDERSTANDING IN ECONOMICS, FINANCE, EDUCATION & TRAINING, SCIENCE, AND TECHNOLOGY THROUGHOUT THE COMMUNITY OF HIGH POINT, NORTH CAROLINA AND ITS REGION WITH REGARD TO SOLVING COMMUNITY PROBLEMS AND EXPLORING ECONOMIC OPPORTUNITIES.(2) TO COMBAT COMMUNITY DETERIORATION AND PROMOTE THE DEVELOPMENT OF A BROADLY-BASED ECONOMY IN HIGH POINT, NORTH CAROLINA AND ITS REGION.(3) TO ENGAGE IN OTHER CHARITABLE, EDUCATIONAL AND SCIENTIFIC ACTIVITIES FOR THE BENEFIT OF HIGH POINT, NORTH CAROLINA AND ITS REGION.

THE HIGH POINT CHAMBER FOUNDATION IS HOST TO MEETINGS FOR VARIOUS CIVIC ORGANIATIONS IN HIGH POINT. THE CIVIC ORGANIZATIONS WHO HAVE THESE MEETINGS AT THE CHAMBER HAVE A PURPOSE CONSISTENT WITH THE HIGH POINT CHAMBER FOUNDATION'S MISSION. IN 2018, THE FOUNDATION ALSO BEGAN DEVELOPING A FACILITY TO BE USED FOR BUSINESS DEVELOPMENT AND ECONOMIC STIMULATION OF THE DOWNTOWN CORE AREA OF HIGH POINT.

Expenses $2,110,252

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Rachel CollinsRACHEL COLLINS

CEO, SECRETARY

Total calculated

$180,698

From this org

$0

From related orgs

$169,950

Other

$10,748

Hours/week

40

Schedule J breakdown matched by us

Base

$0 + $169,950 related

Bonus

$0

Other

$0

Deferred

$0 + $5,948 related

Nontaxable benefits

$0 + $4,800 related

Filer's total

$0 + $180,698 related
Alex MooreALEX MOORE

CHAIRMAN

Total calculated

$0

Hours/week

1
Darlene LeonardDARLENE LEONARD

TREASURER

Total calculated

$0

Hours/week

2
Megan OglesbyMEGAN OGLESBY

DIRECTOR

Total calculated

$0

Hours/week

1
Greg YorkGREG YORK

DIRECTOR

Total calculated

$0

Hours/week

1
Frank ThomasFRANK THOMAS

DIRECTOR

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. 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

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

HP365 LLC

PROGRAM RENTALS, EVENTS AND THE LOFTS · NC · income $2,178,661 · assets $6,874,383

Directly controlled by HIGH POINT CHAMBER FOUNDATION

Provenance

Return type: form_990
Tax year: 2024
Filed: 17 November 2025
IRS schema version: 2024v5.2
Source object: 202533219349318433

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