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Nonprofiteer
← ABILENE CHAMBER OF COMMERCE FOUNDATION

Form 990 for tax year 2023

Filed by ABILENE CHAMBER OF COMMERCE FOUNDATION.

Totals

Total revenue
$271,646
Total expenses
$262,290
Contributions and grants received
$266,118
Grants paid
$251,575
Program service revenue
$0
Investment income
$4,852
Other revenue
$676
Total assets, end of year
$557,889
Total liabilities, end of year
$2,647
Net assets or fund balances, end of year
$555,242
Program services expenses (Part IX)
$260,620
Management and general expenses
$1,595
Fundraising expenses
$75
Program service expenses (Part III)
$260,620

Program services were 99.4% 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

    $266,118

  • 3 · Investment income

    total $4,852 · excluded $4,852

  • 11a · Other revenue: Reimburse Travel Expens

    total $676 · related or exempt $676

  • 11e · Other revenue, total

    $676

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $251,575 · program services $251,575

  • 11c · Fees: accounting

    total $1,500 · management and general $1,500

  • 11g · Fees: other

    total $2,700 · program services $2,700

  • 13 · Office expenses

    total $514 · program services $419 · management and general $95

  • 24a · Other expenses: Rentals

    total $5,316 · program services $5,316

  • 24b · Other expenses: Supplies

    total $685 · program services $610 · fundraising $75

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $229,192 · end of year $260,177

  • 2 · Savings and temporary cash investments

    beginning of year $45,000 · end of year $20,000

  • 4 · Accounts receivable

    beginning of year $84 · end of year $40

  • 9 · Prepaid expenses and deferred charges

    beginning of year $700 · end of year $700

  • 12 · Investments: other securities

    beginning of year $235,443 · end of year $276,972

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,484 · end of year $2,647

  • 27 · Net assets without donor restrictions

    beginning of year $4,341 · end of year $5,896

  • 28 · Net assets with donor restrictions

    beginning of year $502,594 · end of year $549,346

Mission and programs · 2023

Mission

The purpose of the Organization is to provide knowledge and understanding of economics, matters of public concern, finance, education and training, and problems of minority groups therby promoting the economy and quality of life in Abilene Texas.

  • Community Programs - Various contributions supporting the programs of the Abilene Regional Growth Alliance, the Abilene Chamber of Commerce and other local non-profit entities

    Expenses $260,620

As filed on the 2023 return.

Listed in Part VII

  • Doug Peters

    President & CEO

    Total calculated
    $333,386
    From this org
    $0
    From related orgs
    $284,329
    Other
    $49,057
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    not reported + $244,329 related
    Bonus
    not reported + $40,000 related
    Other
    not reported
    Deferred
    not reported + $18,443 related
    Nontaxable benefits
    not reported + $30,614 related
    Filer's total
    not reported + $333,386 related

  • Frances Williamson

    Vice President Administration

    Total calculated
    $79,348
    From this org
    $0
    From related orgs
    $72,147
    Other
    $7,201
    Hours/week
    1 + 25 related

  • Kelly Jay

    Chair

    Total calculated
    $0
    Hours/week
    1

  • Laura Moore

    Past Chair

    Total calculated
    $0
    Hours/week
    1

  • Kelsi Mangrem

    Chair Elect

    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

  • 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 · Written employment contract

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

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
14 July 2025
IRS schema version
2023v6.0
Source object
202522059349301402

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