Alleghany Highlands Chamber Of Commerce
- Assets
- $332.6k
- Revenue
- $719.4k
- Investments
- $0.0
- Employees
- 5
- Location
- Covington, VA
- Founding
- 09/1993
- Data as of
- 12/2021
- EIN
- 54-0165010
Organization Overview
Alleghany Highlands Chamber Of Commerce is located in Covington, VA. The organization was established in 1993. 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. As of 12/2021, Alleghany Highlands Chamber Of Commerce employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Alleghany Highlands Chamber Of Commerce is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Alleghany Highlands Chamber Of Commerce generated $719.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $602.2k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE ECONOMIC DEVELOPMENT AND TOURISM IN THE ALLEGHANY HIGHLANDS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE ECONOMIC DEVELOPMENT AND TOURISM IN THE ALLEGHANY HIGHLANDS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Teresa Hammond Executive Director | Officer | 50 | $82,160 |
John Rainone President | Officer | 5 | $0 |
Jonathan Arritt Past President | Officer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $70,951 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $431,274 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $502,225 |
| Total Program Service Revenue | $0 |
| Investment income | $2,007 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $215,137 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $719,369 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $75,217 |
| 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. | $82,160 |
| Compensation of current officers, directors, key employees. | $82,160 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $138,014 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,540 |
| Fees for services: Management | $0 |
| 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 | $0 |
| Advertising and promotion | $234,454 |
| Office expenses | $18,258 |
| Information technology | $8,644 |
| Royalties | $0 |
| Occupancy | $20,832 |
| Travel | $3,439 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,390 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,501 |
| All other expenses | $0 |
| Total functional expenses | $602,165 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $209,674 |
| Savings and temporary cash investments | $87,134 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $283 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,622 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $31,894 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $332,607 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $332,607 |
| 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 | $332,607 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Alleghany Highlands Chamber Of Commerce has recieved totaling $650,836.
| Awarding Organization | Amount |
|---|---|
Alleghany Foundation Covington, VA PURPOSE: INCENTIVES FOR RELOCATION CAMPAIGN | $402,322 |
Alleghany Foundation Covington, VA PURPOSE: TOURISM MARKETING OF THE ALLEGHANY HIGHLANDS 2020-2022 | $75,605 |
Alleghany Foundation Covington, VA PURPOSE: OPERATIONAL FUNDS & PROGRAM SUPPORT | $60,727 |
Alleghany Foundation Covington, VA PURPOSE: LIVE HERE WORK/ANYWHERE CAMPAIGN | $48,175 |
Alleghany Foundation Covington, VA PURPOSE: INCENTIVES FOR RELOCATION CAMPAIGN | $32,378 |
Alleghany Foundation Covington, VA PURPOSE: OPERATIONAL FUNDS & PROGRAM SUPPORT 2021-2024 | $30,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Restaurant Association Washington, DC | $192,667,812 | $96,146,955 |
American Association Of State Highway & Transportation Officials Washington, DC | $177,160,624 | $97,013,353 |
National Federation Of Independent Business Inc Nashville, TN | $77,203,691 | $109,079,617 |
American Beverage Association Washington, DC | $114,967,236 | $101,585,081 |
Credit Union National Association Inc Washington, DC | $67,388,582 | $69,543,852 |
Edison Electric Institute Washington, DC | $198,917,565 | $81,084,181 |
Investment Company Institute Washington, DC | $76,230,571 | $72,478,404 |
Packaging Machinery Manufacturers Institute Inc Herndon, VA | $71,869,344 | $62,733,082 |
Consumer Technology Association Arlington, VA | $357,760,838 | $25,474,279 |
National Retail Federation Inc Washington, DC | $44,909,805 | $48,694,616 |
American Psychiatric Association Washington, DC | $179,554,491 | $53,525,834 |
Srcco Inc Durham, NC | $42,497,453 | $49,465,239 |