Morgantown Chamber Of Commerce
- Assets
- $779.4k
- Revenue
- $661.9k
- Investments
- $0.0
- Employees
- 5
- Location
- Morgantown, WV
- Founding
- 06/1978
- Data as of
- 12/2020
- EIN
- 55-0237464
Organization Overview
Morgantown Chamber Of Commerce is located in Morgantown, WV. The organization was established in 1978. 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 12/2020, Morgantown Chamber Of Commerce employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Morgantown 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 12/2020, Morgantown Chamber Of Commerce generated $661.9k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.9% each year . All expenses for the organization totaled $708.5k during the year ending 12/2020. While expenses have increased by 5.8% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
FOCUS ON ADDRESSING THE NEEDS OF THE LOCAL BUSINESS COMMUNITY THROUGH POLICY FORMATION OR IMPLEMENTATION AND BROADENING MEMBERSHIP PROGRAMS
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE ARE DEDICATED TO THE BETTERMENT OF THE MORGANTOWN AREA THROUGH ACTIVE INVOLVEMENT, LEADERSHIP AND EDUCATION. WE ARE HERE TO SERVE THE BUSINESS COMMUNITY IN MANY WAYS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Russell Rogerson President & CEO | Officer | 40 | $172,308 |
Susan Riddle Treasurer | Officer | 0 | $0 |
Sarah Woodrum Chairman | Officer | 0 | $0 |
Paul Brake Director | Trustee | 0 | $0 |
Kimberly Moyers Director | Trustee | 0 | $0 |
Mark A Imbrogno Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $580,368 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,705 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $584,073 |
| Total Program Service Revenue | $31,463 |
| Investment income | $817 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$26,893 |
| Net Income from Fundraising Events | $72,485 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $661,945 |
| 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. | $172,308 |
| Compensation of current officers, directors, key employees. | $172,308 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $301,921 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $46,656 |
| Payroll taxes | $27,038 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,529 |
| 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 | $3,028 |
| Advertising and promotion | $31,081 |
| Office expenses | $23,091 |
| Information technology | $12,883 |
| Royalties | $0 |
| Occupancy | $14,458 |
| Travel | $2,638 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,522 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,180 |
| Insurance | $4,522 |
| All other expenses | $0 |
| Total functional expenses | $708,515 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $234,302 |
| Savings and temporary cash investments | $358,373 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $172,759 |
| 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 | $13,955 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $779,389 |
| Accounts payable and accrued expenses | $3,288 |
| 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 | $1 |
| Total liabilities | $3,289 |
| Net assets without donor restrictions | $776,100 |
| 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 | $779,389 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Morgantown Chamber Of Commerce has recieved totaling $13,500.
| Awarding Organization | Amount |
|---|---|
West Virginia University Hospitals Inc Morgantown, WV PURPOSE: Support | $13,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Packaging Machinery Manufacturers Institute Inc Herndon, VA | $71,869,344 | $62,733,082 |
Consumer Technology Association Arlington, VA | $357,760,838 | $25,474,279 |
Mexican Haas Avocado Importers Association Fallston, MD | $10,238,623 | $43,648,629 |
Fs-Isac Inc Reston, VA | $27,418,346 | $31,957,295 |
National Association Of Convenience Stores Inc Alexandria, VA | $81,131,547 | $56,800,862 |
Air-Conditioning Heating And Refrigeration Institute Arlington, VA | $58,066,234 | $32,390,159 |
Go Rving Inc Reston, VA | $28,984,123 | $37,260,082 |
National Milk Producers Federation Arlington, VA | $39,144,677 | $53,985,808 |
American Association Of Airport Executives Alexandria, VA | $31,151,300 | $20,490,750 |
National Electrical Manufacturers Association Rosslyn, VA | $26,880,642 | $22,525,604 |
National Automated Clearing House Association Herndon, VA | $25,037,618 | $23,028,572 |
Regional Industrial Development Corporation Of Sw Pa Pittsburgh, PA | $178,323,730 | $33,758,702 |