Chamber Of Commerce Of Roanoke
- Assets
- $1.1m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 15
- Location
- Roanoke, VA
- Founding
- 12/1937
- Data as of
- 12/2022
- EIN
- 54-0165050
Organization Overview
Chamber Of Commerce Of Roanoke is located in Roanoke, VA. The organization was established in 1937. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Chamber Of Commerce Of Roanoke employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chamber Of Commerce Of Roanoke 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, Chamber Of Commerce Of Roanoke generated $1.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $1.4m during the year ending 12/2022. While expenses have increased by 4.8% 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 CHAMBER IS A BUSINESS ADVOCATE FOR THE ROANOKE REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ROANOKE REGIONAL CHAMBER OF COMMERCE IS A BUSINESS ADVOCACY ORGANIZATION FOR THE ROANOKE VALLEY CREATING A CLIMATE FOR MEMBER BUSINESSES TO BE SUCCESSFUL THROUGH BUSINESS ADVOCACY, NETWORKING, INFORMATION SHARING AND BUSINESS ASSISTANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joyce Waugh President/sec | OfficerTrustee | 40 | $145,024 |
Ginger Lynch Director Of Fin | Trustee | 40 | $54,668 |
Greg Brock Chair | OfficerTrustee | 0 | $0 |
Jeff Barbour Treasurer | OfficerTrustee | 0 | $0 |
Melissa Mays Director | Trustee | 0 | $0 |
Alan Fabian Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $443,992 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,701 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $452,693 |
| Total Program Service Revenue | $745,322 |
| Investment income | $324 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $24,172 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $76,263 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,309,351 |
| 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. | $199,692 |
| Compensation of current officers, directors, key employees. | $49,923 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $642,319 |
| Pension plan accruals and contributions | $35,344 |
| Other employee benefits | $56,984 |
| Payroll taxes | $59,200 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,094 |
| Advertising and promotion | $0 |
| Office expenses | $28,726 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $29,336 |
| Travel | $19,943 |
| 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 | $38,434 |
| Insurance | $1,396 |
| All other expenses | $40,601 |
| Total functional expenses | $1,373,434 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $497,664 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $141,857 |
| 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 | $31,262 |
| Net Land, buildings, and equipment | $466,522 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,137,305 |
| Accounts payable and accrued expenses | $128,947 |
| Grants payable | $0 |
| Deferred revenue | $324,156 |
| 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 | $453,103 |
| Net assets without donor restrictions | $627,805 |
| Net assets with donor restrictions | $56,397 |
| 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 | $1,137,305 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Williamsburg Area Chamber Of Commerce Williamsburg, VA | $14,757,466 | $13,076,106 |
House Majority Forward Washington, DC | $4,051,593 | $12,002,258 |
Naiop Inc Herndon, VA | $24,051,800 | $11,820,157 |
Association Of Small Business Development Centers Burke, VA | $3,386,085 | $9,990,521 |
Charlotte Regional Realtor Association Inc Charlotte, NC | $53,438,404 | $12,494,849 |
Real Estate Roundtable Inc Washington, DC | $4,544,529 | $7,445,927 |
North Carolina Association Of Realtors Inc Greensboro, NC | $31,160,587 | $11,391,480 |
The North Carolina Community Action Association Raleigh, NC | $4,811,006 | $8,169,285 |
American Seed Trade Association Alexandria, VA | $7,353,007 | $6,785,185 |
Virginia Association Of Realtors Richmond, VA | $25,601,642 | $9,283,805 |
Raleigh Regional Association Of Realtors Inc Cary, NC | $11,211,879 | $6,674,452 |
Professional Services Council Inc Arlington, VA | $6,239,213 | $6,315,119 |