Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1b · Membership dues

  $1,195,205

• 1e · Government grants (contributions)

  $70,000

• 2a · Program service revenue: MANAGEMENT FEES

  total $1,053,281 · related or exempt $1,053,281

• 2b · Program service revenue: PROGRAM SERVICES

  total $307,786 · related or exempt $307,786

• 2c · Program service revenue: PUBLICATION SALES

  total $74,010 · related or exempt $74,010

• 2d · Program service revenue: ECONOMIC DEVELOPMENT

  total $25,336 · related or exempt $25,336

• 3 · Investment income

  total $45,602 · related or exempt $45,602

• 6a · Gross rents

  real property $2,206

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $2,206

• 6d · Net rental income or loss

  total $2,206 · related or exempt $2,206

• 11a · Other revenue: MESSAGE BOARD

  total $4,240 · related or exempt $4,240

• 11b · Other revenue: MISCELLANEOUS INCOME

  total $3,079 · related or exempt $3,079

• 11c · Other revenue: AFFINITY REVENUE

  total $1,660 · related or exempt $1,660

• 11e · Other revenue, total

  $8,979

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $1,651,863

• 8 · Pension plan contributions

  total $59,707

• 10 · Payroll taxes

  total $97,215

• 11b · Fees: legal

  total $567

• 11c · Fees: accounting

  total $17,950

• 11g · Fees: other

  total $258,886

• 13 · Office expenses

  total $73,323

• 16 · Occupancy

  total $117,631

• 17 · Travel

  total $48,192

• 22 · Depreciation, depletion and amortization

  total $131,985

• 23 · Insurance

  total $27,345

• 24a · Other expenses: BAD DEBT EXPENSE

  total $28,932

• 24b · Other expenses: ANNUAL DINNER - EXPENSE

  total $27,789

• 24c · Other expenses: CHAMBER GOLF CHALLENGE

  total $15,500

• 24d · Other expenses: WOMEN'S APPRECIATION EV

  total $14,410

• 24e · All other expenses

  total $191,971

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,578,663 · end of year $1,555,628

• 2 · Savings and temporary cash investments

  beginning of year $2,031,026 · end of year $2,071,678

• 4 · Accounts receivable

  beginning of year $5,967 · end of year $15,721

• 9 · Prepaid expenses and deferred charges

  beginning of year $26,029 · end of year $21,836

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

  $4,307,180

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

  $1,977,632

• 10c · Land, buildings and equipment, net

  beginning of year $2,399,831 · end of year $2,329,548

• 15 · Other assets

  beginning of year $94,748 · end of year $82,977

• 17 · Accounts payable and accrued expenses

  beginning of year $165,416 · end of year $135,546

• 19 · Deferred revenue

  beginning of year $573,583 · end of year $525,438

• 27 · Net assets without donor restrictions

  beginning of year $5,397,265 · end of year $5,416,404

The filer's explanations (Part III)

PART I, LINE 1A

DUES TO OLDE STONE COUNTRY CLUB WERE PAID BY THE CHAMBER OF $4,261

PART I, LINE 4B

THE CEO PARTICIPATES IN, BUT HAS NOT YET RECEIVED, ANY FUNDS FROM A NONQUALIFIED DEFERRED COMPENSATION ARRANAGEMENT. THE ACCOUNT IS FULLY FUNDED AND VESTED. BALANCE AT 12/31/23 WAS $70,060. THE ACCOUNT WAS FUNDED OVER FIVE YEARS WITH NO MORE THAN $12,500 BEING CONTRIBUTED IN ANY ONE YEAR FROM 2014-2018. AMOUNTS HAVE BEEN SUBJECT TO MEDICARE TAX BUT NOT INCOME TAX.