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Nonprofiteer
← GASTON BUSINESS ASSOCIATION INC

Form 990 for tax year 2023

Filed by GASTON BUSINESS ASSOCIATION INC.

Totals

Total revenue
$781,585
Total expenses
$1,043,111
Contributions and grants received
$540,459
Grants paid
$0
Program service revenue
$106,424
Investment income
$13
Other revenue
$134,689
Total assets, end of year
$371,975
Total liabilities, end of year
$248,944
Net assets or fund balances, end of year
$123,031
Program services expenses (Part IX)
$552,093
Management and general expenses
$347,193
Fundraising expenses
$143,825
Program service expenses (Part III)
$552,093

Program services were 52.9% 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

    $458,168

  • 1f · All other contributions, gifts and grants

    $82,291

  • 2a · Program service revenue: PROGRAMS

    total $39,839 · related or exempt $39,839

  • 2b · Program service revenue: GBA BREAKFAST SERIES

    total $17,590 · related or exempt $17,590

  • 2c · Program service revenue: ECONOMIC FORUM

    total $16,360 · related or exempt $16,360

  • 2d · Program service revenue: PROFESSIONAL WOMEN'S ASSOCI

    total $16,235 · related or exempt $16,235

  • 2e · Program service revenue: INVESTOR SPONSORED EVENTS

    total $8,350 · related or exempt $8,350

  • 2f · All other program service revenue

    total $8,050 · related or exempt $8,050

  • 3 · Investment income

    total $13 · related or exempt $13

  • 6a · Gross rents

    real property $3,600

  • 6c · Rental income or loss

    real property $3,600

  • 6d · Net rental income or loss

    total $3,600 · excluded $3,600

  • 8a · Fundraising events: gross income

    $119,240

  • 8c · Net income from fundraising events

    total $119,240

  • 11a · Other revenue: OTHER

    total $5,564 · related or exempt $5,564

  • 11b · Other revenue: AFFILIATES INCOME

    total $4,605 · related or exempt $4,605

  • 11c · Other revenue: MINORITY BUSINESS COUNCIL

    total $1,000 · related or exempt $1,000

  • 11d · All other revenue

    total $680 · related or exempt $680

  • 11e · Other revenue, total

    $11,849

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $587,853 · program services $323,319 · management and general $205,749 · fundraising $58,785

  • 8 · Pension plan contributions

    total $11,541 · program services $6,348 · management and general $4,039 · fundraising $1,154

  • 9 · Other employee benefits

    total $65,400 · program services $35,970 · management and general $22,890 · fundraising $6,540

  • 10 · Payroll taxes

    total $46,316 · program services $25,474 · management and general $16,211 · fundraising $4,631

  • 11c · Fees: accounting

    total $11,637 · program services $6,400 · management and general $4,073 · fundraising $1,164

  • 11g · Fees: other

    total $28,356 · program services $17,016 · management and general $11,340

  • 12 · Advertising and promotion

    total $11,931 · program services $6,562 · management and general $4,176 · fundraising $1,193

  • 13 · Office expenses

    total $11,711 · program services $6,441 · management and general $4,099 · fundraising $1,171

  • 16 · Occupancy

    total $50,153 · program services $30,092 · management and general $20,061

  • 19 · Conferences, conventions and meetings

    total $31,517 · program services $18,910 · management and general $12,607

  • 20 · Interest

    total $8,193 · program services $4,916 · management and general $3,277

  • 22 · Depreciation, depletion and amortization

    total $34,240 · program services $20,544 · management and general $13,696

  • 24a · Other expenses: EVENTS

    total $92,776 · program services $17,174 · management and general $6,415 · fundraising $69,187

  • 24b · Other expenses: COMPUTER EXPENSES

    total $27,005 · program services $16,203 · management and general $10,802

  • 24c · Other expenses: DUES & SUBSCRIPTIONS

    total $12,977 · program services $7,786 · management and general $5,191

  • 24d · Other expenses: BANK & FINANCE CHARGES

    total $6,170 · program services $3,702 · management and general $2,468

  • 24e · All other expenses

    total $5,335 · program services $5,236 · management and general $99

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $324,806 · end of year $92,693

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

    $923,823

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

    $644,555

  • 10c · Land, buildings and equipment, net

    beginning of year $289,209 · end of year $279,268

  • 12 · Investments: other securities

    beginning of year $13 · end of year $14

  • 17 · Accounts payable and accrued expenses

    end of year $4,236

  • 23 · Secured mortgages and notes payable

    beginning of year $229,471 · end of year $244,708

  • 27 · Net assets without donor restrictions

    beginning of year $384,557 · end of year $123,031

Mission and programs · 2023

Mission

TO CHAMPION AN ENVIRONMENT FOR HEALTHY ECONOMIC GROWTH AND QUALITY JOB CREATION IN GASTON COUNTY BY REMAINING ACTIVE ON MANY FRONTS, INCLUDING ECONOMIC DEVELOPMENT, REGIONAL INITIATIVES, MEMBERSHIP BENEFITS AND SERVICES, QUALITY OF LIFE, AND BUSINESS ADVOCACY.

Activities or mission (Part I)

THE GASTON REGIONAL CHAMBER OF COMMERCE'S MISSION IS TO CHAMPION ECONOMIC PROSPERITY FOR OUR MEMBERS AND THE GASTON COUNTY COMMUNITY.

  • TO PROMOTE BUSINESS, EDUCATION, AND COMMUNITY DEVELOPMENT IN GASTON COUNTY

    Expenses $552,093 · Revenue $781,585

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Patrick Mumford

    CEO

    Total calculated
    $177,630
    From this org
    $159,200
    From related orgs
    $0
    Other
    $18,430
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,000
    Bonus
    $5,000
    Other
    $4,200
    Deferred
    $17,230
    Nontaxable benefits
    $1,200
    Filer's total
    $177,630

  • Angel Baez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dan Boyd

    PAST CHARIMA

    Total calculated
    $0
    Hours/week
    2

  • Eric Clay

    CHAIR

    Total calculated
    $0
    Hours/week
    3

  • Terry Cox

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Brad Drury

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Chris Elmore

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Rusty Harris

    A LARGE EXEC

    Total calculated
    $0
    Hours/week
    2

  • Betsy Huggins

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Moses Neuman Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Robin Lang

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kerri Massey

    CHAIR ELECT

    Total calculated
    $0
    Hours/week
    2

  • Jim Morasso

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Janet Sytz

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Martha Wegner

    DIRECTOR

    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

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

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.

Provenance

Return type
form_990
Tax year
2023
Filed
1 August 2024
IRS schema version
2023v5.0
Source object
202433129349302523

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