Arlington Chamber Of Commerce Foundation Inc
- Assets
- $85.9k
- Revenue
- $23.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Arlington, TX
- Founding
- 08/2003
- Data as of
- 09/2023
- EIN
- 54-2085214
Organization Overview
Arlington Chamber Of Commerce Foundation Inc is located in Arlington, TX. The organization was established in 2003. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Arlington Chamber Of Commerce Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2023, Arlington Chamber Of Commerce Foundation Inc generated $23.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (28.4%) each year. All expenses for the organization totaled $37.9k during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (30.5%) per year over the past 8 years. 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
SERVE AS A SUPPORTING ORGANIZATION TO THE ARLINGTON CHAMBER OF COMMERCE AND TO LESSEN THE BURDENS OF THE ARLINGTON LOCAL GOVERNMENT WITH RESPECT TO MATTERS OF ECONOMIC DEVELOOPMENT AND URBAN LAND USE AND TO PROVIDE EDUCATION TO THE PUBLIC ABOUT LOCAL GOVERNMENT. FORM 990, PART VI, LINE 6 - CLASSES OF MEMBERS OR STOCKHOLDERS ORGANIZED WITH MEMBERS FORM 990, PART VI, LINE 7A - ELECTION OF MEMBERS AND THEIR RIGHTS THERE IS A NOMINATION PROCESS EVERY YEAR TO ELECT THE BOARD OF DIRECTOS. MEMBERS AND EMPLOYEES CAN MAKE RECOMMENDATIONS. FORM 990, PART VI, LINE 7B - DECISIONS SUBJECT TO APPROVAL OF MEMBERS DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO A VOTE BY THE BOARD. FORM 990, PART VI, LINE 11B - ORGANIZATION'S PROCESS TO REVIEW FORM 990 AVAILABLE AT VARIOUS MEETINGS AND UPON REQUEST, AND REVIEWED BY THE FINANCE COMMITTEE OF THE BOARD. FORM 990, PART VI, LINE 12C - ENFORCEMENT OF CONFLICTS POLICY IS DISTRIBUTED AT YEAR END AND THE BOARD OF DIRECTOS VOTES ON ANY CHANGES AND THEY APPROVE T
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORTING ORGANIZATION OF THE ARLINGTON CHAMBER-MAKES GRANTS TO THE ARLINGTON CHAMBER OF COMMERCE AND OTHER LOCAL ORGANIZATIONS TO FUND ECONOMIC DEVELOPMENT AND COMMUNITY DEVELOPMENT PROGRAMS.
THE ARLINGTON CHAMBER OF COMMERCE FOUNDATION FOSTERS ECONOMIC AND COMMUNITY PROSPERITY IN THE GREATER ARLINGTON AREA. TO ACHIEVE THE MISSION, THE FOUNDATION RAISES AND RENDERS FINANCIAL SUPPORT FOR COMMUNITY PROJECTS, AS IDENTIFIED THROUGH THE ARLINGTON CHAMBER'S STRATEGIC OBJECTIVES, INCLUDING EDUCATION AND WORKFORCE DEVELOPMENT, REDEVELOPMENT AND REVITALIZATION, COMMUNITY PLANNING, AND GENERAL WELL-BEING INITIATIVES.
ARTS & ENTERTAINMENT SUPPORT-ELEVATES THE MULTI-CULTURAL TALENT FOUND IN ARLINGTON; DELIVERS AN "OPEN-TO-ALL" FREE WHOLESOME, FAMILY EXPERIENCE; UNIFIES THE COMMUNITY THROUGH STRONG PARTNERSHIPS; INTRODUCES THOUSANDS OF VISITORS TO ARLINGTON; AND GENERATES REVENUE IN A NON- TRADITIONAL TRAVEL PERIOD OF THE YEAR FOR LOCAL BUSINESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Jacobson President/ce | OfficerTrustee | 20 | $0 |
Don Duke Director | Trustee | 1 | $0 |
Terry Gaines Director | Trustee | 1 | $0 |
Darla Peznell Director | Trustee | 1 | $0 |
Joni Wilson Chair | OfficerTrustee | 1 | $0 |
Cindy Salter Director | Trustee | 1 | $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 | $22,578 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $22,578 |
| Total Program Service Revenue | $0 |
| Investment income | $848 |
| 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 | $23,426 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $37,861 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| 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 | $0 |
| Information technology | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $37,861 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $85,940 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $85,940 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $85,940 |
| 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 | $85,940 |