Hopewell Prince George Chamber of Commerce OF COMMERCE
- Assets
- $315.5k
- Revenue
- $292.6k
- Investments
- $0.0
- Employees
- 4
- Location
- Hopewell, VA
- Founding
- Data as of
- 12/2023
- EIN
- 54-0251652
Organization Overview
Hopewell Prince George Chamber of Commerce OF COMMERCE is located in Hopewell, VA. As of 12/2023, Hopewell Prince George Chamber of Commerce OF COMMERCE employed 4 individuals. Hopewell Prince George Chamber of Commerce 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, Hopewell Prince George Chamber of Commerce OF COMMERCE generated $292.6k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $285.4k during the year ending 12/2023. While expenses have increased by 1.0% 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
MISSION IS TO CHAMPION A THRIVING, VIABLE, AND ENERGIZED BUSINESS COMMUNITY TO IMPROVE THE QUALITY OF LIFE IN THIS REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBER BENEFITS INCLUDE BUSINESS HELP DESK, CORPORATE SOCIAL RESPONSIBILITY, PRO-BUSINESS ADVOCACY, MEMBER GATHERINGS, AND MARKETING AND PROMOTION. THE CHAMBER ALSO MANAGES THE REGIONAL TOURISM PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Becky Mcdonough CEO | OfficerTrustee | 40 | $80,000 |
Dana Newcomer President | Trustee | 1 | $0 |
Adam Perry Vice President | Trustee | 0.5 | $0 |
Robin Moore Treasurer | Trustee | 0.5 | $0 |
Nicole Fernandez Secretary | Trustee | 0.5 | $0 |
Colin Romanick Past President | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,093 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,093 |
| Total Program Service Revenue | $283,417 |
| Investment income | $4,749 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,387 |
| 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 | $292,646 |
| 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. | $80,000 |
| Compensation of current officers, directors, key employees. | $4,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $56,606 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,606 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,158 |
| Fees for services: Accounting | $7,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $11,079 |
| Office expenses | $2,764 |
| Information technology | $16,902 |
| 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 | $6,586 |
| Insurance | $2,457 |
| All other expenses | $34,310 |
| Total functional expenses | $285,392 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $202,817 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,753 |
| 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 | $0 |
| Net Land, buildings, and equipment | $105,890 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $315,460 |
| Accounts payable and accrued expenses | $185 |
| 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 | $185 |
| Net assets without donor restrictions | $280,449 |
| Net assets with donor restrictions | $34,826 |
| 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 | $315,460 |