Lakeland Area Chamber Of Commerce Inc
- Assets
- $1.3m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 14
- Location
- Lakeland, FL
- Founding
- 06/1972
- Data as of
- 12/2021
- EIN
- 59-0324437
Organization Overview
Lakeland Area Chamber Of Commerce Inc is located in Lakeland, FL. The organization was established in 1972. 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 12/2021, Lakeland Area Chamber Of Commerce Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lakeland Area Chamber Of Commerce Inc 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, Lakeland Area Chamber Of Commerce Inc generated $1.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $1.1m 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 PROMOTE BUSINESS AND BUSINESS RELATIONSHIPS IN THE GREATER LAKELAND AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LAKELAND AREA CHAMBER OF COMMERCE MARKETS LAKELAND AS A CONVENTION, TOURIST, AND BUSINESS DESTINATION THROUGH A BROAD MENU OF PROGRAMS, SERVICES, AND EVENTS. PUBLIC AFFAIRS AND MEMBER RELATIONS SERVICES ARE PROVIDED BY MEANS OF A MONTHLY NEWSLETTER, SPONSORSHIP OF VARIOUS COMMUNITY SERVICE PROJECTS AND RELATED OUTREACH EFFORTS.
THE LAKELAND AREA CHAMBER OF COMMERCE MARKETS LAKELAND AS A CONVENTION, TOURIST, AND BUSINESS DESTINATION THROUGH A BROAD MENU OF PROGRAMS, SERVICES, AND EVENTS. PUBLIC AFFAIRS AND MEMBER RELATIONS SERVICES ARE PROVIDED BY MEANS OF A MONTHLY NEWSLETTER, SPONSORSHIP OF VARIOUS COMMUNITY SERVICE PROJECTS AND RELATED OUTREACH EFFORTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Corydon Skeates President | Officer | 40 | $120,000 |
Amber Aaron Finance | Officer | 40 | $62,684 |
Will Link Chair | Officer | 0.5 | $0 |
Steve Achinger Director | Trustee | 0.5 | $0 |
Bretta Christakos Director | Trustee | 0.5 | $0 |
Stephanie Colon Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $18,750 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $318,329 |
| All other contributions, gifts, grants, and similar amounts not included above | $99,999 |
| Noncash contributions included in lines 1a–1f | $99,999 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $437,078 |
| Total Program Service Revenue | $1,103,367 |
| Investment income | $24,650 |
| 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 | $1,565,095 |
| 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. | $182,684 |
| Compensation of current officers, directors, key employees. | $122,147 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $260,348 |
| Pension plan accruals and contributions | $14,342 |
| Other employee benefits | $34,290 |
| Payroll taxes | $41,226 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $33,071 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,738 |
| Office expenses | $6,494 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $107,693 |
| Travel | $6,117 |
| 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 | $9,049 |
| Insurance | $10,195 |
| All other expenses | $32,523 |
| Total functional expenses | $1,107,532 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $631,359 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $153,881 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $104,671 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,433 |
| Net Land, buildings, and equipment | $119,342 |
| Investments—publicly traded securities | $256,714 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,760 |
| Total assets | $1,286,160 |
| Accounts payable and accrued expenses | $1,271 |
| Grants payable | $0 |
| Deferred revenue | $459,680 |
| 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 | $15,150 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $476,101 |
| Net assets without donor restrictions | $776,627 |
| Net assets with donor restrictions | $33,432 |
| 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 | $1,286,160 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Miami Association Of Realtors Inc Miami, FL | $56,284,695 | $21,744,917 |
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 |
Orlando Regional Realtor Association Inc Orlando, FL | $41,443,880 | $9,652,407 |
Jacksonville Regional Chamber Of Commerce Inc Jacksonville, FL | $9,462,619 | $9,572,618 |
Orlando Economic Partnership Inc Orlando, FL | $7,838,258 | $8,634,020 |
Florida Chamber Of Commerce Tallahassee, FL | $11,287,883 | $6,720,102 |
The Economic Development Partnership Of Alabama Inc Birmingham, AL | $16,193,879 | $5,250,949 |
Gwinnett Chamber Of Commerce Inc Duluth, GA | $6,627,911 | $6,072,892 |
Jacksonville And The Beaches Convention & Visitors Bureau Inc Jacksonville, FL | $1,089,102 | $5,103,594 |
Better Business Bureau Of Palm Beach County Inc West Palm Beach, FL | $4,183,669 | $5,496,948 |
Florida Rv Trade Association Riverview, FL | $9,475,092 | $4,511,413 |