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Nonprofiteer
← CHATTANOOGA CHAMBER FOUNDATION

Form 990 for tax year 2022

Filed by CHATTANOOGA CHAMBER FOUNDATION.

Totals

Total revenue
$5,902,246
Total expenses
$5,527,535
Contributions and grants received
$4,618,590
Grants paid
$0
Program service revenue
$982,829
Investment income
$10,961
Other revenue
$289,866
Total assets, end of year
$7,846,474
Total liabilities, end of year
$1,771,306
Net assets or fund balances, end of year
$6,075,168
Program services expenses (Part IX)
$4,342,680
Management and general expenses
$685,243
Fundraising expenses
$499,612
Program service expenses (Part III)
$4,342,680

Program services were 78.6% 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)

    $2,500,706

  • 1f · All other contributions, gifts and grants

    $2,117,884

  • 2a · Program service revenue: ECONOMIC DEVELOPMENT

    total $516,287 · related or exempt $516,287

  • 2b · Program service revenue: EVENTS, SEMINARS AND OTHER PROGRA

    total $466,542 · related or exempt $466,542

  • 3 · Investment income

    total $10,961 · excluded $10,961

  • 6a · Gross rents

    real property $468,735

  • 6b · Less rental expenses

    real property $305,462

  • 6c · Rental income or loss

    real property $163,273

  • 6d · Net rental income or loss

    total $163,273 · related or exempt $468,735 · excluded -$305,462

  • 11a · Other revenue: SERVICE AND OTHER INCOME

    total $126,593 · related or exempt $126,593

  • 11e · Other revenue, total

    $126,593

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $559,214 · program services $467,192 · management and general $37,682 · fundraising $54,340

  • 7 · Other salaries and wages

    total $1,905,244 · program services $1,601,973 · management and general $116,933 · fundraising $186,338

  • 9 · Other employee benefits

    total $345,949 · program services $278,777 · management and general $34,760 · fundraising $32,412

  • 10 · Payroll taxes

    total $170,039 · program services $143,554 · management and general $11,217 · fundraising $15,268

  • 11b · Fees: legal

    total $40,340 · program services $10,609 · management and general $29,731

  • 11c · Fees: accounting

    total $45,718 · program services $45,616 · management and general $102

  • 11g · Fees: other

    total $747,070 · program services $535,622 · management and general $10,079 · fundraising $201,369

  • 12 · Advertising and promotion

    total $207,688 · program services $203,339 · management and general $685 · fundraising $3,664

  • 13 · Office expenses

    total $44,127 · program services $31,524 · management and general $11,846 · fundraising $757

  • 14 · Information technology

    total $181,842 · program services $144,381 · management and general $37,461

  • 16 · Occupancy

    total $296,381 · program services $226,927 · management and general $69,454

  • 17 · Travel

    total $108,982 · program services $108,426 · management and general $547 · fundraising $9

  • 19 · Conferences, conventions and meetings

    total $111,520 · program services $109,115 · management and general $1,000 · fundraising $1,405

  • 22 · Depreciation, depletion and amortization

    total $251,944 · management and general $251,944

  • 23 · Insurance

    total $28,601 · program services $26,188 · management and general $2,413

  • 24a · Other expenses: MAINTENANCE

    total $175,986 · program services $164,562 · management and general $11,424

  • 24b · Other expenses: PROGRAM DEVELOPMENT

    total $174,457 · program services $174,457

  • 24c · Other expenses: MISCELLANEOUS

    total $132,433 · program services $70,418 · management and general $57,965 · fundraising $4,050

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,306,977 · end of year $779,432

  • 2 · Savings and temporary cash investments

    beginning of year $836,333 · end of year $840,958

  • 3 · Pledges and grants receivable

    beginning of year $1,200,000 · end of year $1,129,875

  • 4 · Accounts receivable

    beginning of year $66,415 · end of year $211,422

  • 9 · Prepaid expenses and deferred charges

    beginning of year $24,990 · end of year $50,174

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

    $6,687,358

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

    $2,920,457

  • 10c · Land, buildings and equipment, net

    beginning of year $3,841,625 · end of year $3,766,901

  • 11 · Investments: publicly traded securities

    beginning of year $174,926 · end of year $209,673

  • 15 · Other assets

    beginning of year $371,775 · end of year $858,039

  • 17 · Accounts payable and accrued expenses

    beginning of year $620,916 · end of year $259,326

  • 19 · Deferred revenue

    beginning of year $192,944 · end of year $168,509

  • 21 · Escrow or custodial account liability

    beginning of year $16,815 · end of year $16,815

  • 23 · Secured mortgages and notes payable

    beginning of year $1,326,656 · end of year $1,326,656

  • 27 · Net assets without donor restrictions

    beginning of year $4,525,910 · end of year $4,885,247

  • 28 · Net assets with donor restrictions

    beginning of year $1,139,800 · end of year $1,189,921

Mission and programs · 2022

Mission

EDUCATION REGARDING MATTERS OF PUBLIC CONCERN TO IMPROVE THE QUALITY AND INCREASE THE QUANTITY OF ECONOMIC GROWTH AND EMPLOYMENT OPPORTUNITIES.

  • LEADERSHIP DEVELOPMENT-TO ENSURE THAT CHATTANOOGA AREA BENEFITS FROM CIVIC AND POLITICAL LEADERSHIP. SPONSOR ANNUAL LEADERSHIP PROGRAM TO PREPARE EXISTING LEADERS FOR COMMUNITY DECISION MAKING, HOLD EVENTS TO RECOGNIZE BUSINESS AND COMMUNITY LEADERS AND COMMUNICATE WITH THE BUSINESS COMMUNITY ON ISSUES VITAL TO LEADERS.

    Expenses $246,434 · Revenue $466,542

  • ECONOMIC DEVELOPMENT-PURPOSE IS TO ATTRACT NEW BUSINESS AND INDUSTRY TO THE CHATTANOOGA AREA, AS WELL AS ENCOURAGE EXPANSION IN EXISTING BUSINESSES.

    Expenses $3,988,387 · Revenue $516,287

  • FACILITIES MANAGEMENT-MANAGEMENT OF BUSINESS INCUBATOR THE BDC OFFERS START-UP BUSINESSES OFFICE OR MANUFACTURING SPACE AT BELOW-MARKET RENTAL RATES. TENANTS HAVE ACCESS TO CLERICAL SUPPORT, FAX MACHINE, COPIER AND POSTAGE MACHINE.

    Expenses $85,995 · Revenue $468,735

  • COMMUNITY IMPROVEMENT-PLANNING, IMPLEMENTATION AND MAINTENANCE OF NEIGHBORHOOD DEVELOPMENT INITIATIVES, INCLUDING BEAUTIFICATION, PROMOTION AND EDUCATION. IT ALSO INCLUDES CHATT 2.0, WHICH IS A COMMUNITY-LED MOVEMENT TO ADDRESS EDUCATION AND WORKFORCE OPPORTUNITIES IN HAMILTON COUNTY.

    Expenses $21,864 · Revenue $126,593

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • CHRISTINE GILLENWATER

    PRESIDENT/CEO

    Total calculated
    $358,014
    From this org
    $246,083
    From related orgs
    $61,521
    Other
    $50,410
    Hours/week
    24 + 16 related

    Schedule J breakdown matched by us

    Base
    $179,936 + $44,984 related
    Bonus
    $60,000 + $15,000 related
    Other
    $6,147 + $1,537 related
    Deferred
    $23,200 + $5,800 related
    Nontaxable benefits
    $17,128 + $4,282 related
    Filer's total
    $286,411 + $71,603 related

  • ROY D VAUGHN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PAUL LEATH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JANELLE REILLY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DAVID WADE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JAY DALE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BRAD COBB

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL MATHIS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CHERYL MILLSAPS

    V/P FINANCE AND ADMINISTRA

    Total calculated
    $143,218
    From this org
    $77,910
    From related orgs
    $43,298
    Other
    $22,010
    Hours/week
    24 + 16 related

  • CHARLES WOOD

    V/P ECONOMIC DEVELOPMENT

    Total calculated
    $200,183
    From this org
    $179,675
    From related orgs
    $0
    Other
    $20,508
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $179,321
    Bonus
    $0
    Other
    $354
    Deferred
    $18,166
    Nontaxable benefits
    $2,342
    Filer's total
    $200,183

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 · First-class or charter travel
  • 1a · Health or social club dues or initiation fees
  • 3 · Compensation committee
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 7 · Other non-fixed payments

Answered no

  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
PART I, LINE 1A. THE ORGANIZATION PROVIDES FIRST CLASS OR CHARTER TRAVEL IN CONNECTION WITH THE REQUIREMENTS OF THE CEO TO OCCASIONALLY TRAVEL AND PROVIDES SOCIAL OR HEALTH CLUB DUES AS A WAY TO FACILITATE CONNECTION OF THE CEO TO OTHER LEADERS IN THE COMMUNITY.
PART I, LINE 7
THE BOARD SETS STRATEGIC GOALS FOR THE ORGANIZATION AND REWARDS MANAGEMENT FOR MEETING BENCHMARKS TO ACHIEVE THOSE GOALS. THE GOALS AND POTENTIAL REWARDS ARE SPECIFIED IN THE EXECUTIVE DIRECTOR'S EMPLOYMENT CONTRACT AND ARE ANNUALLY EVALUATED BY THE BOARD OF DIRECTORS.

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.

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
16 July 2024
IRS schema version
2022v5.0
Source object
202401999349300830

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