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Nonprofiteer
← MOBILE AREA CHAMBER OF COMMERCE FOUNDATION INC

Form 990 for tax year 2022

Filed by MOBILE AREA CHAMBER OF COMMERCE FOUNDATION INC.

Totals

Total revenue
$2,902,918
Total expenses
$2,355,597
Contributions and grants received
$2,244,053
Grants paid
$1,152,650
Program service revenue
$641,504
Investment income
$8
Other revenue
$17,353
Total assets, end of year
$10,999,610
Total liabilities, end of year
$1,185,646
Net assets or fund balances, end of year
$9,813,964
Program services expenses (Part IX)
$2,220,763
Management and general expenses
$134,834
Fundraising expenses
$0
Program service expenses (Part III)
$2,220,763

Program services were 94.3% 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.

  • 1e · Government grants (contributions)

    $1,031,250

  • 1f · All other contributions, gifts and grants

    $1,212,803

  • 2a · Program service revenue: INNOVATION PORTAL

    total $335,204 · related or exempt $335,204

  • 2b · Program service revenue: RENTAL OF BUILDING

    total $306,300 · unrelated business $62,500 · excluded $243,800

  • 3 · Investment income

    total $8 · excluded $8

  • 5 · Royalties

    total $12,114 · excluded $12,114

  • 11a · Other revenue: MISCELLANEOUS

    total $5,239 · related or exempt $5,239

  • 11e · Other revenue, total

    $5,239

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,152,650 · program services $1,152,650

  • 6 · Compensation of disqualified persons

    total $284,776 · program services $276,201 · management and general $8,575

  • 11g · Fees: other

    total $22,693 · program services $21,287 · management and general $1,406

  • 13 · Office expenses

    total $21,652 · program services $21,652

  • 16 · Occupancy

    total $115,275 · program services $95,823 · management and general $19,452

  • 20 · Interest

    total $64,021 · program services $60,030 · management and general $3,991

  • 22 · Depreciation, depletion and amortization

    total $272,140 · program services $239,925 · management and general $32,215

  • 23 · Insurance

    total $96,618 · program services $81,520 · management and general $15,098

  • 24a · Other expenses: MAINTENANCE & REPAIRS

    total $148,830 · program services $111,799 · management and general $37,031

  • 24b · Other expenses: EVENTS

    total $94,527 · program services $94,527

  • 24c · Other expenses: PROPERTY TAXES

    total $82,415 · program services $65,349 · management and general $17,066

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $1,858,052 · end of year $1,591,986

  • 3 · Pledges and grants receivable

    beginning of year $234,442 · end of year $95,415

  • 4 · Accounts receivable

    beginning of year $346,639 · end of year $300,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $37,652 · end of year $56,260

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

    $11,940,656

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

    $3,034,707

  • 10c · Land, buildings and equipment, net

    beginning of year $9,022,191 · end of year $8,905,949

  • 15 · Other assets

    beginning of year $63,512 · end of year $50,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $223,621 · end of year $334,554

  • 23 · Secured mortgages and notes payable

    beginning of year $2,004,129 · end of year $846,509

  • 25 · Other liabilities

    beginning of year $68,095 · end of year $4,583

  • 27 · Net assets without donor restrictions

    beginning of year $8,095,925 · end of year $9,191,674

  • 28 · Net assets with donor restrictions

    beginning of year $1,170,718 · end of year $622,290

Mission and programs · 2022

Mission

TO CARRY OUT CHARITABLE ACTIVITIES FOR THE BENEFIT OF THE COMMUNITY AND ITS CITIZENS, WORKING WITH THE MOBILE AREA CHAMBER OF COMMERCE.

Activities or mission (Part I)

TO CARRY OUR CHARITABLE ACTIVITIES FOR THE BENEFIT OF THE COMMUNITY AND ITS CITIZENS, WORKING WITH THE MOBILE AREA CHAMBER OF COMMERCE.

  • CITY OF MOBILE AND MOBILE COUNTY ECONOMIC DEVELOPMENT PERFORMANCE CONTRACT - TO HELP COMPANIES AND CONSULTANTS EVALUATE THE MOBILE AREA FOR BUSINESS RELOCATION

    Expenses $1,010,913 · Grants $923,812

  • INNOVATION PORTAL - FACILITATE GROWTH OF ENTREPRENEURS AND SMALL BUSINESS OWNERS BY PROVIDING FACILITES, TRAINING, AND NETWORKING.

    Expenses $832,129 · Grants $29,387 · Revenue $335,204

  • OTHER PROGRAM SCHOLARSHIPS

    Expenses $377,721 · Grants $199,451

As filed on the 2022 return.

Listed in Part VII

  • James F Watkins

    LEGAL COUNSEL

    Total calculated
    $0
    Hours/week
    1

  • Terry Harbin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Clifton Inge

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • T Bragg Van Antwerp Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mark Nix

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lowell J Friedman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Chris Lee

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Liz Freeman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sydney Raine

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Frank J Lott III

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • G Robert Baker Jr

    VICE PRESIDENT/SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Bradley Byrne

    PRESIDENT/TREASURER

    Total calculated
    $204,167
    From this org
    $0
    From related orgs
    $204,167
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $204,167 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $204,167 related

  • Neil Christopher

    ASST SECRETARY/TREASURER

    Total calculated
    $146,237
    From this org
    $0
    From related orgs
    $128,957
    Other
    $17,280
    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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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

The filer's explanations (Part III)

PART I, LINE 4B
NEIL CHRISTOPHER: 2022 CONTRIBUTION TO 457(F) PLAN HELD AND FUNDED BY THE MOBILE AREA CHAMBER OF COMMERCE, A RELATED ORGANIZATION, IN THE AMOUNT OF $5,000.

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

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
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202333199349319638

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