Retail Merchant Assn Of Tidewater Va Inc
- Assets
- $29.2m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 12
- Location
- Norfolk, VA
- Founding
- 09/2008
- Data as of
- 12/2021
- EIN
- 54-0354660
Organization Overview
Retail Merchant Assn Of Tidewater Va Inc, operating under the name Retail Alliance, is located in Norfolk, VA. The organization was established in 2008. 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, Retail Alliance employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Retail 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, Retail Alliance generated $2.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 26.1% each year . All expenses for the organization totaled $1.4m 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
TO ASSIST IN REFORMING TRADE ISSUES; TO CULTIVATE A FEELING OF FRATERNITY AMONG COMPETITIVE BUSINESS ESTABLISHMENTS; TO ASSIST IN FURTHER DIGNIFYING THE RETAIL INDUSTRY AND ENHANCING ITS COMMUNITY PRESTIGE; TO PROMOTE THE EXPANSION OF VIRGINIA'S INDUSTRIAL, COMMERCIAL, ECONOMIC AND CULTURAL LIFE; TO TAKE AN ACTIVE AND ENERGETIC INTEREST IN ALL ADMINISTRATIVE AFFAIRS OF OUR NATIONAL, STATE AND LOCAL GOVERNMENTS; TO ASSIST IN THE FURTHERANCE OF SUCH AIMS, OBJECTS AND PURPOSES, AS IN THE DISCRETION OF THE BOARD OF DIRECTORS MAY AT ANY TIME DEEMED ADVISABLE AND LEGITIMATE FOR THE BEST INTERESTS OF THE COMMUNITY AND THE MEMBERS OF THIS CORPORATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONDUCTED ADVOCACY AND GRASSROOTS COMMUNICATIONS EFFORTS REGARDING ISSUES OF IMPORTANCE TO MEMBERS (LARCENY THRESHOLDS, SALES TAX ABSORPTION, ETC) THROUGH ORIENTATION SESSIONS, PRESENTATIONS, WRITTEN DOCUMENTATION (NEWSLETTERS, ETC) AND CONDUCTED SURVEYS ON SALIENT ISSUES. THIS EFFORT WAS FOR THE BENEFIT OF ALL 473 MEMBERS, OF WHICH APPROXIMATELY 473 ACTIVELY PARTICIPATED.
CONDUCTED 11 EVENING NETWORKING EVENTS FOR MEMBERS TO FRATERNIZE WITH PEERS AND SHARE INFORMATION AND 58 MORNING EDUCATIONAL MEETINGS FOR MEMBERS.CONDUCTED PEER EXCHANGE GROUPS FOR RETAIL OWNERS TO DISCUSS CHALLENGES AND BEST PRACTICES.
ACTIVELY PRESENTED INFORMATION ON THE RETAIL INDUSTRY, BEST PRACTICES AND MEMBER INITIATIVES TO MEMBERS AND OTHERS IN THE FORM OF A WEEKLY E-NEWSLETTER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Raymond J Mattes III President/ceo | OfficerTrustee | 40 | $203,119 |
Elizabeth Parsons Secretary | OfficerTrustee | 40 | $51,066 |
Ron Russell Director | Trustee | 0.5 | $0 |
Robert R Harper Jr Director | Trustee | 0.5 | $0 |
Carlyle Bland Director | Trustee | 0.5 | $0 |
Sarah Pishko Director | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $558,457 |
| Investment income | $435,907 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,764,232 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,758,596 |
| 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. | $272,685 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $378,925 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $210,576 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $26,985 |
| Fees for services: Accounting | $17,944 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $92,509 |
| Fees for services: Other | $26,833 |
| Advertising and promotion | $46,040 |
| Office expenses | $23,938 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $88,524 |
| Travel | $27,066 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $35,356 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $16,278 |
| All other expenses | -$1,468 |
| Total functional expenses | $1,426,151 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $504,958 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $152,902 |
| 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 | $1,346,294 |
| Investments—publicly traded securities | $27,178,139 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $14,854 |
| Total assets | $29,197,147 |
| Accounts payable and accrued expenses | $143,290 |
| 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 | $801,289 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,590,940 |
| Total liabilities | $3,535,519 |
| Net assets without donor restrictions | $0 |
| 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 | $25,661,628 |
| Total liabilities and net assets/fund balances | $29,197,147 |
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