Florida Chamber Of Commerce Foundation Inc
- Assets
- $5.6m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 8
- Location
- Tallahassee, FL
- Founding
- 05/1968
- Data as of
- 10/2020
- EIN
- 59-6209605
Organization Overview
Florida Chamber Of Commerce Foundation Inc is located in Tallahassee, FL. The organization was established in 1968. 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 10/2020, Florida Chamber Of Commerce Foundation Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Florida Chamber Of Commerce Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 10/2020, Florida Chamber Of Commerce Foundation Inc generated $1.7m 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 (5.5%) each year. All expenses for the organization totaled $1.3m during the year ending 10/2020. As we would expect to see with falling revenues, expenses have declined by (5.7%) 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
WORKING IN PARTNERSHIP WITH STATE BUSINESS LEADERS TO SECURE FLORIDA'S FUTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
SEE SCHEDULE O
SEE SCHEDULE O
SEE SCHEDULE O
SEE SCHEDULE O
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Todd Powell Board Chair | OfficerTrustee | 1 | $0 |
Mark Wilson President/ceo (see Schedule O) | OfficerTrustee | 5 | $0 |
Alan Holland CFO (see Schedule O) | Officer | 5 | $0 |
Pamella Dana PHD Trustee | Trustee | 1 | $0 |
Ms Michelle Dennard Trustee | Trustee | 1 | $0 |
Dr Angela Falconetti Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,236,528 |
| Investment income | $64,910 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $18,913 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$6,405 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,711,696 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $1,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $128,497 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $628,242 |
| Pension plan accruals and contributions | $43,708 |
| Other employee benefits | $160,123 |
| Payroll taxes | $23,537 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $18,024 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $111,519 |
| Advertising and promotion | $3,479 |
| Office expenses | $53,367 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $25,321 |
| Travel | $11,147 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $68,969 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,481 |
| All other expenses | $0 |
| Total functional expenses | $1,297,450 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,165,239 |
| Savings and temporary cash investments | $101,901 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $78,500 |
| 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 | $14,239 |
| Investments—publicly traded securities | $4,249,917 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,175 |
| Total assets | $5,610,971 |
| Accounts payable and accrued expenses | $26,150 |
| Grants payable | $0 |
| Deferred revenue | $144,375 |
| 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 | $270,118 |
| Total liabilities | $440,643 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $5,170,328 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Florida Chamber Of Commerce Foundation Inc has recieved totaling $96,084.
| Awarding Organization | Amount |
|---|---|
Pharmaceutical Research And Manufacturers Of America Washington, DC PURPOSE: General Contribution | $40,000 |
Adventist Health System Sunbelt Healthcare Corporation Altamonte Springs, FL PURPOSE: General Support | $25,000 |
Helios Education Foundation Phoenix, AZ PURPOSE: See Part IV | $12,584 |
The Nemours Foundation Jacksonville, FL PURPOSE: Donation | $10,000 |
Gulf Coast Community Foundation Inc Venice, FL PURPOSE: CIVIC | $7,500 |
Jordan Zimmerman Family Foundation Inc Pompano Beach, FL PURPOSE: CHARITABLE CONTRIBUTION | $1,000 |
Endowment Analysis
| Beg. Balance | $609,046 |
| Earnings | $4,717 |
| Ending Balance | $613,763 |
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 |