Corenet Global Inc
- Assets
- $223.4k
- Revenue
- $460.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Leesburg, VA
- Founding
- 08/2014
- Data as of
- 12/2022
- EIN
- 45-4557001
Organization Overview
Corenet Global Inc is located in Leesburg, VA. The organization was established in 2014. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Corenet Global Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, Corenet Global Inc generated $460.2k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.3% each year. All expenses for the organization totaled $583.5k during the year ending 12/2022. While expenses have increased by 12.0% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE CAROLINAS CHAPTER IS TO CONNECT GROUPS OF PROFESSIONALS, END USERS AND SERVICE PROVIDERS IN ORDER TO ADVANCE KNOWLEDGE, PROMOTE PERSONAL EXCELLENCE AND ADD VALUE TO EACH INDIVIDUAL AND THEIR RESPECTIVE ENTERPRISES. OUR CHAPTER ACCOMPLISHES OUR MISSION THROUGH FACILITATING AND SPONSORING A VARIETY OF DIVERSIFIED PROGRAMS THAT PROVIDE MEMBERS EDUCATIONAL AND NETWORKING OPPORTUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORENET GOLF TOURNAMENT CREATES AN ANNUAL WORLD-CLASS GOLF TOURNAMENT FOR CHAPTER MEMEBERS AND SPONSORS. WITH BEAUTIFUL VENUES, FABULOUS FOOD AND GREAT FUN, AND PARTICIPANT GROWTH FROM 40 TO OVER 140 PLAYERS IN JUST FOUR YEARS. THE TOURNAMENT PROVIDES NETWORKING OPPORTUNITIES AND SHOWS APPRECIATION TO OUR MEMBERSHIP AND SPONSORS.
AWARDS DINNER:INAUGURAL CAROLINAS CORE AWARDS, HONORING THE BEST AND THE BRIGHTEST IN OUR INDUSTRY.
CAROLINAS CHAPTER MEGA EVENT: CORPORATE REAL ESTATE PROFESSIONALS ATTENDED THE "MEGA EVENT' WHICH FEATURED TWO PANEL DISCUSSIONS REGARDING SITE ELECTION, FOLLOWED BY A NETWORKING EVENT FOR CORPORATE REAL ESTATE PROFESSIONALS. THE GOAL OF THE EVENT IS EDUCATION AND NETWORKING FOR CORPORATE REAL ESTATE PROFESSIONALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jessika Douglas Director | Trustee | 5 | $0 |
Sean O'neil Vice President | OfficerTrustee | 10 | $0 |
Lamonte Johnson Past President | OfficerTrustee | 5 | $0 |
Ana Marshall Past President | OfficerTrustee | 5 | $0 |
Camille Farkas Director | Trustee | 5 | $0 |
John Christenbury Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $31,478 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $31,478 |
| Total Program Service Revenue | $428,499 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $195 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $460,172 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $84,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,850 |
| Advertising and promotion | $570 |
| Office expenses | $2,136 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $84,796 |
| Total functional expenses | $583,534 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $140,021 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $31,392 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $52,030 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $223,443 |
| Accounts payable and accrued expenses | $16,188 |
| Grants payable | $0 |
| Deferred revenue | $32,350 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $48,538 |
| Net assets without donor restrictions | $174,905 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $223,443 |