Charlottesville Regional Chamber Of Commerce
- Assets
- $523.0k
- Revenue
- $763.0k
- Investments
- $0.0
- Employees
- 3
- Location
- Charlottesville, VA
- Founding
- 10/1944
- Data as of
- 12/2023
- EIN
- 54-0166025
Organization Overview
Charlottesville Regional Chamber Of Commerce is located in Charlottesville, VA. The organization was established in 1944. 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 12/2023, Charlottesville Regional Chamber Of Commerce employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Charlottesville Regional Chamber Of Commerce 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 12/2023, Charlottesville Regional Chamber Of Commerce generated $763.0k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $653.6k during the year ending 12/2023. While expenses have increased by 0.3% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE CHARLOTTESVILLE REGIONAL CHAMBER OF COMMERCE IS A NON-PROFIT CORPORATION ORGANIZED UNDER THE LAWS OF THE COMMONWEALTH OF VIRGINIA FOR THE PURPOSE OF REPRESENTING PRIVATE ENTERPRISE, PROMOTING BUSINESS, ECONOMIC GROWTH AND VITALITY, AND ENHANCING THE QUALITY OF LIFE IN THE CITY OF CHARLOTTESVILLE AND SURROUNDING COUNTIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBER SERVICES ACTIVITIES - THE CHAMBER PROVIDES AND/OR SPONSORS AN ARRAY OF MEMBER SERVICES FOR ITS APPROXIMATELY 610 CHAMBER MEMBER AND AFFILIATE MEMBER ENTERPRISES AND THEIR MEMBER REPRESENTATIVES AND EMPLOYEES, SUCH AS: MEMBER SEMINARS AND WORKSHOPS; MEMBER BUSINESS DEVELOPMENT AND BUSINESS PROMOTION PROGRAMS AND SERVICES; MEMBER AND COMMUNITY INFORMATION SERVICES; COMMUNITY DEVELOPMENT PROGRAMS AND SERVICES; AND EVENTS TO PROMOTE THE COMMON INTERESTS AND INTERACTION OF CHAMBER MEMBERS AND THE GREATER CHARLOTTESVILLE COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrea Copeland Interim President | OfficerTrustee | 40 | $78,873 |
Todd Rowley Finance Committee Chair | OfficerTrustee | 2.5 | $0 |
Sasha Farmer Tripp Vice Chair | OfficerTrustee | 2.5 | $0 |
Mariane Asad Doyle Director | Trustee | 1.5 | $0 |
Libby Edwards-Allbaugh Director | Trustee | 1.5 | $0 |
Guy Browning Past Chair | OfficerTrustee | 2.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $297,213 |
| Fundraising events | $0 |
| Related organizations | $0 |
| 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 | $297,213 |
| Total Program Service Revenue | $456,440 |
| Investment income | $9,363 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $763,016 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $13,125 |
| 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. | $207,246 |
| 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 | $14,717 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $51,162 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $5,229 |
| Information technology | $16,051 |
| Royalties | $0 |
| Occupancy | $22,409 |
| Travel | $6,015 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,170 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,821 |
| Insurance | $6,235 |
| All other expenses | $0 |
| Total functional expenses | $653,641 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $65,216 |
| Savings and temporary cash investments | $413,601 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,396 |
| 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 | $17,707 |
| Net Land, buildings, and equipment | $23,106 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $523,026 |
| Accounts payable and accrued expenses | $10,487 |
| Grants payable | $0 |
| Deferred revenue | $300,560 |
| 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 | $311,047 |
| Net assets without donor restrictions | $211,979 |
| 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 | $523,026 |
Grants Awarded
Over the last fiscal year, Charlottesville Regional Chamber Of Commerce has awarded $16,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CENTRAL VIRGINIA PARTNERSHIP FOR ECONOMIC DEVELOPMENT PURPOSE: TO ASSIST THE ORGANIZATION WITH ECONOMIC DEVELOPMENT IN THE AREA | $3,000 |
FREE ENTERPRISE FORUM PURPOSE: TO PROMOTE PRO-BUSINESS DIALOGUE WITH LOCAL GOVERNMENT | $13,500 |