Lynchburg Regional Business Alliance
- Assets
- $2.1m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 11
- Location
- Lynchburg, VA
- Founding
- 04/1935
- Data as of
- 12/2021
- EIN
- 54-0165020
Organization Overview
Lynchburg Regional Business Alliance is located in Lynchburg, VA. The organization was established in 1935. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Lynchburg Regional Business Alliance employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lynchburg Regional Business Alliance 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 12/2021, Lynchburg Regional Business Alliance generated $1.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.4% each year . All expenses for the organization totaled $1.5m during the year ending 12/2021. While expenses have increased by 11.2% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SERVE TO STRENGTHEN OUR MEMBER BUSINESSES AND STIMULATE REGIONAL PROSPERITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBERSHIP ACTIVITIES AND PROJECTS WHICH HELP TO PROMOTE RESPONSIBLE ECONOMIC GROWTH, A POSITIVE BUSINESS CLIMATE, AND ENHANCED QUALITY OF LIFE
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Megan Lucas President | Officer | 40 | $128,165 |
Michael Elliott Vice Chair | OfficerTrustee | $0 | |
Luke Towles Chair Elect | OfficerTrustee | $0 | |
Denise Woernle Chairman | OfficerTrustee | $0 | |
Fred Armstrong Treasurer | Trustee | $0 | |
John Capps Dir | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $705,622 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $715,622 |
| Total Program Service Revenue | $770,498 |
| Investment income | $3,867 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $4,663 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,572,490 |
| 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 | $629,358 |
| Pension plan accruals and contributions | $61,031 |
| Other employee benefits | $53,096 |
| Payroll taxes | $51,715 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $33,204 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $72,053 |
| Office expenses | $33,102 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $129,885 |
| Travel | $11,703 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,602 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,953 |
| Insurance | $5,317 |
| All other expenses | $32,194 |
| Total functional expenses | $1,541,177 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $47,958 |
| Savings and temporary cash investments | $1,480,965 |
| Pledges and grants receivable | $134,982 |
| Accounts receivable, net | $347,654 |
| 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 | $49,141 |
| Net Land, buildings, and equipment | $72,373 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,133,073 |
| Accounts payable and accrued expenses | $36,620 |
| 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 | $701,056 |
| Total liabilities | $737,676 |
| Net assets without donor restrictions | $1,260,414 |
| Net assets with donor restrictions | $134,983 |
| 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 | $2,133,073 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lynchburg Regional Business Alliance has recieved totaling $55,554.
| Awarding Organization | Amount |
|---|---|
Centra Health Inc Lynchburg, VA PURPOSE: CAPITAL FUNDING | $55,554 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ltc Reinsurance Pcc Washington, DC | $361,855,078 | $23,669,640 |
Urac Washington, DC | $81,439,201 | $26,248,621 |
Virginia Equine Alliance Warrenton, VA | $24,647,483 | $20,710,903 |
North American Meat Institute Washington, DC | $15,669,601 | $11,771,364 |
Yaplus Arlington, VA | $14,080,198 | $11,268,285 |
Structured Finance Industry Group Inc Washington, DC | $15,991,884 | $10,124,152 |
Virginia Utility Protection Service Inc Roanoke, VA | $16,444,690 | $8,907,059 |
The Esop Association Of America Washington, DC | $3,829,140 | $6,835,411 |
Ccdc Common Area Association Washington, DC | $638,394 | $6,311,818 |
Virginia Community Capital Inc Christiansburg, VA | $56,421,694 | $9,502,783 |
Trustworthy Accountability Group Inc Washington, DC | $9,890,254 | $6,100,176 |
Us-Asean Business Council Inc Washington, DC | $3,403,596 | $5,619,066 |