Indian River County Chamber Of Commerce Inc
- Assets
- $1.2m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 10
- Location
- Vero Beach, FL
- Founding
- 09/1942
- Data as of
- 09/2022
- EIN
- 59-0493830
Organization Overview
Indian River County Chamber Of Commerce Inc is located in Vero Beach, FL. The organization was established in 1942. 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 09/2022, Indian River County Chamber Of Commerce Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Indian River County 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 09/2022, Indian River County Chamber Of Commerce Inc generated $1.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $1.3m during the year ending 09/2022. While expenses have increased by 2.2% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE INDIAN RIVER COUNTY CHAMBER OF COMMERCE, INC. IS A COUNTY-WIDE ORGANIZATION REPRESENTING THE BUSINESS COMMUNITY BY PROVIDING SERVICES, BENEFITS, AND LEADERSHIP FOR POSITIVE ECONOMIC GROWTH AND CHANGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE INDIAN RIVER COUNTY CHAMBER OF COMMERCE, INC IS A COUNTY-WIDE ORGANIZATION REPRESENTING THE BUSINESS COMMUNITY BY PROVIDING SERVICES, BENEFITS AND LEADERSHIP FOR POSITIVE ECONOMIC GROWTH AND CHANGE AND TO ENHANCE AND PRESERVE THE ECONOMIC WELL-BEING AND QUALITY OF LIFE OF ALL CITIZENS IN INDIAN RIVER COUNTY, FLORIDA.
THE ECONOMIC DEVELOPMENT DIVISION OF THE INDIAN RIVER CHAMBER OF COMMERCE, INC. SERVES THE FUNCTION AS THE DESIGNATED ECONOMIC DEVELOPMENT ORGANIZATION (EDO) FOR INDIAN RIVER COUNTY TO PROVIDE BUSINESS ATTRACTION, DEVELOPMENT, AND THE RETENTION OF BUSINESSES WITH A GOAL OF JOB CREATION. THE OBJECTIVES ARE DEFINED IN THE ECONOMIC DEVELOPMENT ELEMENT OF THE COUNTY'S COMPREHENSIVE PLAN AS ADOPTED BY THE INDIAN RIVER COUNTY BOARD OF COUNTY COMMISSIONERS. AN ECONOMIC DEVELOPMENT BUDGET, STRATEGIC PLAN, AND MARKETING PLAN ARE REVISED AND APPROVED BY THE INDIAN RIVER CHAMBER OF COMMERCE, INC'S BOARD AND THE COUNTY'S ECONOMIC DEVELOPMENT COUNCIL THAT SERVES IN AN ADVISORY CAPACITY TO THE COUNTY COMMISSION.
THE TOURISM DIVISION OF THE INDIAN RIVER COUNTY CHAMBER OF COMMERCE, INC. SERVES THE FUNCTION AS THE DESIGNATED TOURISM, MARKETING AND PROMOTION ORGANIZATION FOR INDIAN RIVER COUNTY TO PROMOTE THE COMMUNITIES AND VENUES IN INDIAN RIVER COUNTY AND AS TRAVEL/VACATION/BUSINESS DESTINATIONS FOR VISITORS. THE CHAMBERS SERVES AS THE OFFICIAL VISITOR CENTER AND IS RESPONSIBLE FOR COMPREHENSIVE ADVERTISING, MATERIALS INCLUDING ELECTRONIC MATERIALS, SOCIAL MEDIA, MEDIA AND VIDEOS USED IN SUCH MARKETING EFFORTS. A TOURISM FOCUSES BUDGET, STRATEGIC PLAN, AND MARKETING PLAN ARE PRESENTED TO AND APPROVED BY THE INDIAN RIVER COUNTY CHAMBER OF COMMERCE, INC'S BOARD, AND THE COUNTY'S TOURISM DEVELOPMENT COUNCIL THAT SERVES IN AN ADVISORY CAPACITY TO THE COUNTY COMMISSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dori Stone President | Officer | 40 | $94,375 |
Ross Cotherman Past Chairma | OfficerTrustee | 1 | $0 |
Michael Kissner Chairman | OfficerTrustee | 1 | $0 |
Denise Boehning Treasurer | OfficerTrustee | 1 | $0 |
Donna D'alfonso Vice Chair | OfficerTrustee | 1 | $0 |
Mario Corbiciero Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $247,775 |
| Fundraising events | $66,248 |
| Related organizations | $0 |
| Government grants | $815,099 |
| 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 | $1,129,122 |
| Total Program Service Revenue | $36,796 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$43,200 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,165,456 |
| 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. | $108,273 |
| Compensation of current officers, directors, key employees. | $21,655 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $368,439 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $60,104 |
| Payroll taxes | $35,775 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $24,336 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $74,908 |
| Advertising and promotion | $323,608 |
| Office expenses | $49,196 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,030 |
| Travel | $16,905 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $595 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $38,835 |
| Insurance | $21,505 |
| All other expenses | $30,382 |
| Total functional expenses | $1,292,750 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $217,485 |
| Savings and temporary cash investments | $132,852 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $68,428 |
| 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 | $20,765 |
| Net Land, buildings, and equipment | $798,153 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,237,683 |
| Accounts payable and accrued expenses | $665 |
| Grants payable | $0 |
| Deferred revenue | $114,555 |
| 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 | $47,478 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $162,698 |
| Net assets without donor restrictions | $1,029,021 |
| Net assets with donor restrictions | $45,964 |
| 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 | $1,237,683 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Indian River County Chamber Of Commerce Inc has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
Florida Tourism Industry Marketing Corporation Inc Tallahassee, FL PURPOSE: RED TIDE RECOVERY | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Gwinnett Convention And Visitors Bureau Inc Duluth, GA | $29,610,598 | $21,705,089 |
Icamr Inc Neocity, FL | $16,807,579 | $18,482,877 |
Nassau-Paradise Island Promotion Board Ltd Plantation, FL | $7,848,897 | $14,831,769 |
Asian American Hotel Owners Association Atlanta, GA | $22,232,306 | $14,292,123 |
Osceola Convention And Visitors Bureau Inc Kissimmee, FL | $12,721,814 | $18,220,107 |
Panama City Beach Convention And Vistors Bureau Inc Panama City Beach, FL | $6,910,172 | $13,906,597 |
Florida Reliability Coordinating Council Tampa, FL | $10,138,227 | $13,874,923 |
Midtown Business Association Inc Atlanta, GA | $4,952,556 | $10,845,776 |
Corenet Global Inc Atlanta, GA | $22,405,208 | $10,074,155 |
Visit Pensacola Inc Pensacola, FL | $2,535,965 | $7,930,486 |
Allinial Global Lawrenceville, GA | $3,508,006 | $7,173,344 |
The Florida Restaurant & Lodging Association Inc Tallahassee, FL | $14,927,226 | $6,472,755 |