South Carolina State Chamber Of Commerce is located in Columbia, SC. The organization was established in 1941. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2021, South Carolina State Chamber Of Commerce employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. South Carolina State 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 09/2021, South Carolina State Chamber Of Commerce generated $2.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.4%) each year. All expenses for the organization totaled $2.3m during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (5.3%) per year over the past 6 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
BE THE LEADING VOICE FOR BUSINESS IN SOUTH CAROLINA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ENHANCING THE QUALITY OF LIFE FOR ALL SOUTH CAROLINIANS, ACHIEVING GLOBAL COMPETITEVENESS AND ULTIMATELY INCREASING PROSPERITY FOR SC CITIZENS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Edward H Pitts Jr Past CEO And President | 40 | $245,415 | |
Swati Patel Evp Public Policy And Communication | Officer | 40 | $163,920 |
Sunny Philips Evp Investor Relations | 40 | $134,809 | |
Tim Arnold Chair | Officer | 1 | $0 |
Chris Stormer Treasurer | Officer | 1 | $0 |
Mike Shetterly General Cousel | Officer | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $1,890,736 |
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 | $1,890,736 |
Total Program Service Revenue | $405,176 |
Investment income | $35,486 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $32,100 |
Net Gain/Loss on Asset Sales | $140,100 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $2,535,575 |
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. | $163,920 |
Compensation of current officers, directors, key employees. | $67,584 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $1,017,111 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $128,776 |
Payroll taxes | $72,056 |
Fees for services: Management | $0 |
Fees for services: Legal | $43,680 |
Fees for services: Accounting | $18,719 |
Fees for services: Lobbying | $4,904 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $63,704 |
Advertising and promotion | $0 |
Office expenses | $4,922 |
Information technology | $75,890 |
Royalties | $0 |
Occupancy | $238,948 |
Travel | $17,775 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $4,468 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $79,436 |
Insurance | $17,066 |
All other expenses | $123,594 |
Total functional expenses | $2,346,187 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,278,610 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $131,010 |
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 | $117,307 |
Net Land, buildings, and equipment | $21,145 |
Investments—publicly traded securities | $1,152,807 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $2,700,879 |
Accounts payable and accrued expenses | $284,812 |
Grants payable | $0 |
Deferred revenue | $1,404,678 |
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 | $1,689,490 |
Net assets without donor restrictions | $1,011,389 |
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 | $2,700,879 |
Over the last fiscal year, we have identified 2 grants that South Carolina State Chamber Of Commerce has recieved totaling $45,500.
Awarding Organization | Amount |
---|---|
Prisma Health Greenville, SC PURPOSE: OPERATIONAL/COMMUNITY ENGAGEMENT | $30,000 |
Prisma Health Greenville, SC PURPOSE: OPERATIONAL/COMMUNITY ENGAGEMENT | $15,500 |
Organization Name | Assets | Revenue |
---|---|---|
Metropolitan Atlanta Chamber Of Commerce Inc Atlanta, GA | $19,028,351 | $14,011,506 |
Savannah Area Chamber Of Commerce Savannah, GA | $13,537,143 | $16,865,609 |
Charlotte Regional Realtor Association Inc Charlotte, NC | $53,438,404 | $12,494,849 |
Hilton Head Island Bluffton Chamber Of Commerce Hilton Head Island, SC | $3,721,536 | $8,774,772 |
North Carolina Association Of Realtors Inc Greensboro, NC | $31,160,587 | $11,391,480 |
The North Carolina Community Action Association Raleigh, NC | $4,811,006 | $8,169,285 |
Visitgreenville Sc Greenville, SC | $7,299,998 | $9,046,809 |
Raleigh Regional Association Of Realtors Inc Cary, NC | $11,211,879 | $6,674,452 |
Greater Raleigh Chamber Of Commerce Raleigh, NC | $8,171,303 | $6,316,198 |
Gwinnett Chamber Of Commerce Inc Duluth, GA | $6,627,911 | $6,072,892 |
Economic Development Partnership Aiken, SC | $5,344,631 | $2,441,747 |
National Board Of Echocardiography Inc Raleigh, NC | $10,668,936 | $3,809,113 |