Greenwood Chamber Of Commerce
- Assets
- $953.9k
- Revenue
- $410.1k
- Investments
- $0.0
- Employees
- 7
- Location
- Greenwood, SC
- Founding
- 06/1945
- Data as of
- 12/2021
- EIN
- 57-0173843
Organization Overview
Greenwood Chamber Of Commerce is located in Greenwood, SC. The organization was established in 1945. 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, Greenwood Chamber Of Commerce employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greenwood 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 12/2021, Greenwood Chamber Of Commerce generated $410.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.2%) each year. All expenses for the organization totaled $379.2k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.6%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SERVES AS AN ADVOCATE FOR BUSINESS BY FOSTERING ECONOMIC GROWTH AND PROSPERITY AND ADVANCING THE QUALITY OF LIFE IN GREENWOOD COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GENERAL FUNCTIONS OF CHAMBER - SERVES AS AN ADVOCATE FOR BUSINESS BY FOSTERING ECONOMIC GROWTH AND PROSPERITY AND ADVANCING THE QUALITY OF LIFE IN GREENWOOD COUNTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbara Heegan President An | Officer | 40 | $86,025 |
Cathy Miller Interim Pres | Officer | 40 | $0 |
Toby Chappell Director At | Trustee | 1 | $0 |
Kenneth Coffey Director At | Trustee | 1 | $0 |
Max Crawford Director At | Trustee | 1 | $0 |
Greg Gurley Director At | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $190,839 |
| Fundraising events | $0 |
| Related organizations | $15,080 |
| Government grants | $49,626 |
| 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 | $255,545 |
| Total Program Service Revenue | $97,313 |
| Investment income | $1,368 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $54,749 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $410,124 |
| 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. | $86,025 |
| Compensation of current officers, directors, key employees. | $25,808 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $111,042 |
| Pension plan accruals and contributions | $8,083 |
| Other employee benefits | $13,958 |
| Payroll taxes | $22,589 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $17,526 |
| Advertising and promotion | $0 |
| Office expenses | $23,599 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $38,285 |
| Travel | $4,420 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,432 |
| Interest | $4,125 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $571 |
| Insurance | $4,446 |
| All other expenses | $1,784 |
| Total functional expenses | $379,212 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $374,775 |
| Savings and temporary cash investments | $153,424 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $156,320 |
| 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 | $6,236 |
| Net Land, buildings, and equipment | $752 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $262,350 |
| Total assets | $953,857 |
| Accounts payable and accrued expenses | $23,721 |
| Grants payable | $0 |
| Deferred revenue | $289,433 |
| 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 | $150,000 |
| Other liabilities | $26,400 |
| Total liabilities | $489,554 |
| Net assets without donor restrictions | $389,303 |
| Net assets with donor restrictions | $75,000 |
| 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 | $953,857 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Greenwood Chamber Of Commerce has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
Foundation For A Greater Greenwood County Inc Greenwood, SC PURPOSE: MARKETING EFFORTS RELATED TO THE CAPITAL PROJECT SALES TAX INITIATIVE | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
North American Electric Reliabilitycorporation Atlanta, GA | $65,227,333 | $81,782,902 |
Gsma Ltd Atlanta, GA | $262,728,803 | $123,320,595 |
Srcco Inc Durham, NC | $42,497,453 | $49,465,239 |
Southern Motor Carriers Association Inc Peachtree City, GA | $87,365,051 | $35,375,343 |
Unc Management Company Inc Chapel Hill, NC | $53,097,067 | $30,528,524 |
Serc Reliability Corporation Charlotte, NC | $16,241,101 | $25,718,150 |
American Society Of Heating Refrigerating & A-C Engineers Peachtree Corners, GA | $58,779,760 | $22,960,689 |
Motor & Equipment Manufacturers Association Research Triangle Park, NC | $37,966,318 | $17,239,678 |
Gwinnett Convention And Visitors Bureau Inc Duluth, GA | $29,610,598 | $21,705,089 |
Asian American Hotel Owners Association Atlanta, GA | $22,232,306 | $14,292,123 |
Catapult Employers Association Inc Charlotte, NC | $29,062,151 | $11,591,592 |
Material Handling Industry Charlotte, NC | $47,683,626 | $9,373,813 |