Form 990 for tax year 2023
Filed by MARTINSVILLE-HENRY COUNTY CHAMBERS PARTNERSHIP FOR ECONOMIC GROWTH.
Totals
- Total revenue
- $323,956
- Total expenses
- $345,233
- Contributions and grants received
- $186,526
- Grants paid
- $115,526
- Program service revenue
- $111,927
- Investment income
- $25,503
- Other revenue
- $0
- Total assets, end of year
- $1,048,023
- Total liabilities, end of year
- $89,306
- Net assets or fund balances, end of year
- $958,717
- Program services expenses (Part IX)
- $295,633
- Management and general expenses
- $49,600
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $295,633
Program services were 85.6% 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.
-
1b · Membership dues
$3,825
-
1e · Government grants (contributions)
$110,500
-
1f · All other contributions, gifts and grants
$72,201
-
1g · Noncash contributions included above
$22,000
-
2a · Program service revenue: INCUBATOR RENTAL
total $73,771 · related or exempt $73,771
-
2b · Program service revenue: MURA EVENTS INCOME
total $38,156 · related or exempt $38,156
-
3 · Investment income
total $25,503 · related or exempt $25,503
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $115,526 · program services $115,526
-
7 · Other salaries and wages
total $19,345 · program services $19,345
-
10 · Payroll taxes
total $2,960 · program services $2,960
-
11a · Fees: management
total $25,572 · program services $12,786 · management and general $12,786
-
11c · Fees: accounting
total $3,900 · management and general $3,900
-
12 · Advertising and promotion
total $1,280 · management and general $1,280
-
23 · Insurance
total $2,119 · management and general $2,119
-
24a · Other expenses: PROMOTIONAL EVENTS
total $62,540 · program services $43,196 · management and general $19,344
-
24b · Other expenses: DIRECT INCUBATOR COSTS
total $47,583 · program services $38,884 · management and general $8,699
-
24c · Other expenses: SMALL BUSINESS INITIATI
total $40,936 · program services $40,936
-
24d · Other expenses: IN-KIND UTILITIES
total $22,000 · program services $22,000
-
24e · All other expenses
total $1,472 · management and general $1,472
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $353,689 · end of year $281,979
-
2 · Savings and temporary cash investments
beginning of year $1,558 · end of year $1,560
-
4 · Accounts receivable
beginning of year $129,594 · end of year $173,738
-
10a · Land, buildings and equipment: cost or other basis
$10,078
-
10b · Land, buildings and equipment: accumulated depreciation
$10,078
-
10c · Land, buildings and equipment, net
beginning of year $0 · end of year $0
-
11 · Investments: publicly traded securities
beginning of year $531,664 · end of year $590,746
-
17 · Accounts payable and accrued expenses
beginning of year $63,837 · end of year $67,832
-
25 · Other liabilities
beginning of year $6,306 · end of year $21,474
-
27 · Net assets without donor restrictions
beginning of year $881,362 · end of year $893,717
-
28 · Net assets with donor restrictions
beginning of year $65,000 · end of year $65,000
Mission and programs · 2023
Mission
PRIVATE FUNDS AND SUPPORT FOR ECONOMIC DEVELOPMENT IN MARTINSVILLE-HENRY COUNTY
Activities or mission (Part I)
ECONOMIC DEVELOPMENT
-
PROVIDING FUNDS FOR ECONOMIC DEVELOPMENT PROJECTS IN MARTINSVILLE-HENRY COUNTY, VIRGINIA, AND ENCOURAGEMENT, PROMOTION, AND ASSISTANCE WITH ECONOMIC, CIVIC, AND CULTURAL DEVELOPMENT.
Expenses $295,633 · Grants $115,526 · Revenue $137,430
As filed on the 2023 return.
Listed in Part VII
-
Amanda Witt-CoxAMANDA WITT-COX
IMMEDIATE PAST PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
Mike GroganMIKE GROGAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
John ParkinsonJOHN PARKINSON
SECRETARY/TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
W Clay CampbellW CLAY CAMPBELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Steve DraperSTEVE DRAPER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Timothy MartinTIMOTHY MARTIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Charles WhitfieldCHARLES WHITFIELD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Chris LawlessCHRIS LAWLESS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
April HaynesAPRIL HAYNES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Greg HodgesGREG HODGES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Jason DavisJASON DAVIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Cindy SummitCINDY SUMMIT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Mary NesterMARY NESTER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Aretha Ferrell-BenavidesARETHA FERRELL-BENAVIDES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Jay DickensJAY DICKENS
PRESIDENT
- Total calculated
- $0
- Hours/week
- 3
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.
Grants on this return
-
ENTREPRENURIAL BOOT CAMP FOR START-UP BUSINESSES
-
LAKE LANIER ASSOCIATION
$15,000
LAKE LANIER PROJECT
-
OFF THE RIVER CAMPGROUND LLC
$10,000
START UP SMALL BUSINESS GRANT
-
THE GROUND FLOOR
$10,000
SMALL BUSINESS GRANT
-
THE 3D SHOP
$7,716
SMALL BUSINESS GRANT
-
WIGS UNLIMITED
$7,406
SMALL BUSINESS GRANT
-
N & T TRANSPORTATION SERVICE
$7,000
SMALL BUSINESS GRANT
-
GILL FITNESS TRAINING
$5,400
START UP SMALL BUSINESS GRANT
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 13 May 2025
- IRS schema version
- 2023v6.0
- Source object
- 202531399349301213
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