Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $2,500

• 1f · All other contributions, gifts and grants

  $50,206

• 1g · Noncash contributions included above

  $25,410

• 2a · Program service revenue: LEADERSHIP CHAPEL HILL

  total $38,263 · related or exempt $38,263

• 3 · Investment income

  total $2,017 · excluded $2,017

• 7a · Gross sales of assets other than inventory

  securities $505

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

  securities $0

• 7c · Gain or loss

  securities $505

• 7d · Net gain or loss

  total $505 · excluded $505

• 8a · Fundraising events: gross income

  $8,649

• 8a · Fundraising events: contributions included on line 1c

  $2,500

• 8b · Fundraising events: direct expenses

  $1,494

• 8c · Net income from fundraising events

  total $7,155 · excluded $7,155

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $29,041 · program services $29,041

• 11a · Fees: management

  total $15,000 · management and general $15,000

• 11g · Fees: other

  total $18,263 · program services $14,750 · management and general $3,513

• 23 · Insurance

  total $1,154 · management and general $1,154

• 24a · Other expenses: LEADERSHIP PROGRAM

  total $23,202 · program services $23,202

• 24b · Other expenses: OTHER PROGRAM EXPENSES

  total $11,600 · program services $11,600

• 24c · Other expenses: BIG BOLD IDEAS PROGRAM

  total $10,000 · program services $10,000

• 24d · Other expenses: STATE OF THE COMMUNITY

  total $4,000 · program services $4,000

• 24e · All other expenses

  total $986 · management and general $959 · fundraising $27

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $83,660 · end of year $71,212

• 4 · Accounts receivable

  beginning of year $13,715 · end of year $21,272

• 6 · Loans and receivables from disqualified persons

  end of year $2,500

• 11 · Investments: publicly traded securities

  beginning of year $100,770 · end of year $116,884

• 17 · Accounts payable and accrued expenses

  beginning of year $3,500 · end of year $18,499

• 19 · Deferred revenue

  beginning of year $5,150 · end of year $1,620

• 22 · Loans and payables to officers and key people

  beginning of year $497 · end of year $483

• 27 · Net assets without donor restrictions

  beginning of year $16,577 · end of year $32,097

• 28 · Net assets with donor restrictions

  beginning of year $172,421 · end of year $159,169

The filer's explanations (Part III)

PART I, LINE 3

SALARY INFORMATION FOR THE PARTNERSHIP'S EXECUTIVE DIRECTOR IS PROVIDED ON SCHEDULE J SINCE THE PARTNERSHIP IS RELATED TO THE CHAMBER. THE EXECUTIVE COMMITTEE OF THE BOARD OF THE CHAMBER USED INFORMATION GATHERED FROM OTHER LOCAL CHAMBER'S PUBLIC 990S AND FROM A SURVEY OF SIMILAR-SIZED MEMBERS OF THE AMERICAN CHAMBER OF COMMERCE EXECUTIVES IN ORDER TO ESTABLISH THE EXECUTIVE DIRECTOR'S SALARY.

PART I, LINE 4B

AARON NELSON - $10,000