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Nonprofiteer
← GREENSBORO AREA CHAMBER OF COMMERCE

Form 990 for tax year 2022

Filed by GREENSBORO AREA CHAMBER OF COMMERCE.

Totals

Total revenue
$7,766,217
Total expenses
$4,141,276
Contributions and grants received
$6,082,244
Grants paid
$36,750
Program service revenue
$1,396,662
Investment income
$18,770
Other revenue
$268,541
Total assets, end of year
$7,520,695
Total liabilities, end of year
$1,136,075
Net assets or fund balances, end of year
$6,384,620
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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)

    $375,500

  • 1f · All other contributions, gifts and grants

    $5,706,744

  • 2a · Program service revenue: MEMBERSHIP DUES

    total $814,839 · related or exempt $814,839

  • 2b · Program service revenue: PROGRAMS, PUBLICATIONS

    total $581,823 · related or exempt $581,823

  • 3 · Investment income

    total $20,275 · excluded $20,275

  • 5 · Royalties

    total $7,500 · excluded $7,500

  • 7b · Less cost or other basis and sales expenses

    securities $1,505

  • 7c · Gain or loss

    securities -$1,505

  • 7d · Net gain or loss

    total -$1,505 · excluded -$1,505

  • 11a · Other revenue: ANNUAL DINNER

    total $157,500 · excluded $157,500

  • 11b · Other revenue: MANAGEMENT FEE INCOME

    total $70,500 · excluded $70,500

  • 11c · Other revenue: MISCELLANEOUS INCOME

    total $33,041 · excluded $33,041

  • 11e · Other revenue, total

    $261,041

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $36,750

  • 5 · Compensation of officers, directors and key employees

    total $1,218,666

  • 7 · Other salaries and wages

    total $488,792

  • 8 · Pension plan contributions

    total $36,442

  • 9 · Other employee benefits

    total $93,412

  • 10 · Payroll taxes

    total $131,646

  • 11b · Fees: legal

    total $943

  • 11c · Fees: accounting

    total $19,875

  • 11e · Fees: professional fundraising services

    total $253,025

  • 11g · Fees: other

    total $55,598

  • 13 · Office expenses

    total $50,423

  • 14 · Information technology

    total $44,757

  • 16 · Occupancy

    total $219,858

  • 17 · Travel

    total $15,777

  • 19 · Conferences, conventions and meetings

    total $45,206

  • 20 · Interest

    total $4,219

  • 22 · Depreciation, depletion and amortization

    total $26,788

  • 23 · Insurance

    total $32,167

  • 24a · Other expenses: PROGRAM EXPENSES

    total $730,999

  • 24b · Other expenses: GENERAL AND ADMINISTRAT

    total $345,332

  • 24c · Other expenses: MARKETING

    total $183,561

  • 24d · Other expenses: FUNDRAISING

    total $107,040

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $330,746 · end of year $438,597

  • 2 · Savings and temporary cash investments

    beginning of year $2,457,315 · end of year $2,557,166

  • 3 · Pledges and grants receivable

    beginning of year $1,161,118 · end of year $4,161,797

  • 9 · Prepaid expenses and deferred charges

    beginning of year $18,466 · end of year $28,334

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

    $337,176

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

    $313,226

  • 10c · Land, buildings and equipment, net

    beginning of year $50,738 · end of year $23,950

  • 12 · Investments: other securities

    beginning of year $15,000 · end of year $15,000

  • 15 · Other assets

    beginning of year $0 · end of year $295,851

  • 17 · Accounts payable and accrued expenses

    beginning of year $347,535 · end of year $539,995

  • 19 · Deferred revenue

    beginning of year $154,423 · end of year $148,684

  • 25 · Other liabilities

    beginning of year $155,018 · end of year $447,396

  • 27 · Net assets without donor restrictions

    beginning of year $2,141,457 · end of year $1,144,620

  • 28 · Net assets with donor restrictions

    beginning of year $1,234,950 · end of year $5,240,000

Mission and programs · 2022

Mission

TO SERVE AS GREENSBORO, NORTH CAROLINA'S PRINCIPAL ECONOMIC AND COMMUNITY DEVELOPMENT ORGANIZATION. OUR GOAL IS TO STRATEGICALLY DEVELOP A VIBRANT COMMUNITY THAT CREATES, EXPANDS, AND ATTRACTS BUSINESS WHILE ADVANCING THE QUALITY OF LIFE FOR ALL.

  • ECONOMIC DEVELOPMENT: FOCUSES ON CREATING NEW JOBS AND NEW CAPITAL INVESTMENT, AS WELL AS FACILITATING WORKFORCE DEVELOPMENT INITIATIVES IN GREENSBORO AND GUILFORD COUNTY. IT MARKETS GREENSBORO NATIONALLY AND INTERNATIONALLY AS A DESTINATION FOR NEW ENTERPRISES WHILE HELPING EXISTING GREENSBORO AREA COMPANIES REMAIN AND EXPAND LOCALLY.

  • MEMBER ENGAGEMENT: IS DEDICATED TO HELPING MEMBERS ACHIEVE SUCCESS THROUGH BUSINESS EDUCATION, LEADERSHIP TRAINING, ADVOCACY, MARKETING OPPORTUNITIES, AND UNIQUE BUSINESS RESOURCES. IT WORKS TO CULTIVATE A THRIVING BUSINESS ENVIRONMENT IN THE GREENSBORO AREA.

  • LAUNCH GREENSBORO: ACCELERATES GROWTH FOR ENTREPRENEURS STARTING BUSINESSES IN THE GREENSBORO/TRIAD AREA BY PROVIDING EDUCATION, MENTORING, AND ACCESS TO CAPITAL. IT ACCOMPLISHES THIS THROUGH THREE PILLARS OF WORK: RESOURCES, EXPERTISE, AND COMMUNITY.

As filed on the 2022 return.

Listed in Part VII

  • ANITA BACHMANN

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • CANTEY ALEXANDER

    CHAIR ELECT

    Total calculated
    $0
    Hours/week
    2

  • SHERRI THOMAS

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    2

  • SUZY ADKINS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ALLEN ATCHLEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SCOTT BAXTER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • DANNY BROWN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PETE CALLAHAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • IVAN CANADA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • DAWN CHANEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BILL COLLINS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SHARON CONTRERAS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • GREG COX

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ADAM CURRIE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LARRY CZARDA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ABBY DONNELLY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JADA DREW

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • URSULA DUDLEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ADAM DUGGINS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • NATHAN DUGGINS III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DAVID EDWARDS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BETH FISCHER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • GEOFF FOSTER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KELLI FRAZIER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • DAVID GANSBERG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PRESTON HAMMOCK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JARVIS HARRIS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • DOUG HASSMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • VERN HAWKINS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ASHLEIGH JOHNSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RHONDA JOYCE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • CURT LADIG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CC LAMBERTH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • WANDA LEA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JOHN MARTIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PHIL PETROS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • NANCY QUAINTANCE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • KIM REED

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KARL ROBINSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SUSAN SCHWARTZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SUSAN SHUMAKER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • TAMMY SIMMONS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CLIFFORD THOMPSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • STAFFORD THOMPSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BRIAN VANNOY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SUZANNE WALSH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ANDY ZIMMERMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SKIP ALSTON

    EX OFFICIO

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL HALFORD

    EX OFFICIO

    Total calculated
    $0
    Hours/week
    2

  • TAI JAIYEOBA

    EX OFFICIO

    Total calculated
    $0
    Hours/week
    2

  • LIBBY SCHINNOW

    EX OFFICIO

    Total calculated
    $0
    Hours/week
    1

  • NANCY VAUGHAN

    EX OFFICIO

    Total calculated
    $0
    Hours/week
    1

  • JAMES B CHRISTENSEN

    PRESIDENT/CEO

    Total calculated
    $360,409
    From this org
    $333,600
    From related orgs
    $0
    Other
    $26,809
    Hours/week
    40 + 3 related

    Schedule J breakdown matched by us

    Base
    $270,500
    Bonus
    $54,100
    Other
    $9,000
    Deferred
    $21,350
    Nontaxable benefits
    $5,459
    Filer's total
    $360,409

  • DEBORAH HOOPER

    CHIEF OPERATING OFFICER

    Total calculated
    $241,714
    From this org
    $221,388
    From related orgs
    $0
    Other
    $20,326
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $184,000
    Bonus
    $28,388
    Other
    $9,000
    Deferred
    $14,867
    Nontaxable benefits
    $5,459
    Filer's total
    $241,714

  • SANDRA POST

    CONTROLLER

    Total calculated
    $118,627
    From this org
    $106,000
    From related orgs
    $0
    Other
    $12,627
    Hours/week
    40

  • LOU ANNE FLANDERS-STEC

    EXECUTIVE VP OF LAUNCH GRE

    Total calculated
    $163,273
    From this org
    $147,804
    From related orgs
    $0
    Other
    $15,469
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,700
    Bonus
    $10,304
    Other
    $4,800
    Deferred
    $10,010
    Nontaxable benefits
    $5,459
    Filer's total
    $163,273

  • TRACY MYERS

    EXECUTIVE VP OF MEMBER ENG

    Total calculated
    $162,180
    From this org
    $152,159
    From related orgs
    $0
    Other
    $10,021
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,700
    Bonus
    $10,459
    Other
    $9,000
    Deferred
    $10,021
    Nontaxable benefits
    $0
    Filer's total
    $162,180

  • MARVIN PRICE

    EXECUTIVE VP OF ECONOMIC D

    Total calculated
    $172,461
    From this org
    $162,400
    From related orgs
    $0
    Other
    $10,061
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $133,900
    Bonus
    $19,500
    Other
    $9,000
    Deferred
    $4,602
    Nontaxable benefits
    $5,459
    Filer's total
    $172,461

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 · Discretionary spending account
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Written employment contract
  • 3 · Approval by the board or compensation committee

Answered no

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

The filer's explanations (Part III)

PART I, LINE 1A
THE ORGANIZATION PROVIDES A DISCRETIONARY AUTOMOBILE ALLOWANCE TO JAMES B. CHRISTENSEN, DEBORAH HOOPER, TRACY MYERS, AND MARVIN PRICE IN THE AMOUNT OF $9,000 AND TO LOU ANNE FLANDERS-STEC IN THE AMOUNT OF $4,800. THESE AMOUNTS ARE REPORTED ON SCHEDULE J, PART II, COLUMN B(III). ALL OF THESE ITEMS ARE INCLUDED IN THE EMPLOYEES' W-2S.

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

  • ACTION GREENSBORO

    $36,750

    TO SUPPORT CAMPUS GREENSBORO FELLOWS PROGRAM; TO SUPPORT THE MADE IN GREENSBORO INITIATIVE TO MARKET THE UNIQUE ASPECTS OF GREENSBORO; TO SUPPORT A CANDIDATES FORUM; AND TO SUPPORT THE YOUNG, SMART, AND LOCAL CONFERENCE.

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.

  • ACTION GREENSBORO

    501(C)(3) · CHARITY · NC · controlled entity

    Directly controlled by GREENSBORO AREA CHAMBER OF COMMERCE

  • GREENSBORO CHAMBER FOUNDATION

    501(C)(3) · CHARITY · NC · controlled entity

    Directly controlled by GREENSBORO AREA CHAMBER OF COMMERCE

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Provenance

Return type
form_990
Tax year
2022
Filed
10 May 2023
IRS schema version
2022v5.0
Source object
202331329349304588

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