Commerce Lexington Inc

Organization Overview

Commerce Lexington Inc is located in Lexington, KY. The organization was established in 1942. 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, Commerce Lexington Inc employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Commerce Lexington 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, Commerce Lexington Inc generated $4.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $3.7m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO REPRESENT OUR MEMBERS, CREATING THE ENVIRONMENT AND OPPORTUNITY FOR ECONOMIC PROSPERITY AND QUALITY LIVING IN CENTRAL KENTUCKY

Describe the Organization's Program Activity:

Part 3 - Line 4a

COMMERCE LEXINGTON PROVIDES SERVICES TO ITS MEMBER ORGANIZATIONS INCLUDING SUCH ACTIVITIES AS CONFERENCES, MONTHLY PROGRAMS, ANNUAL MEETINGS & PUBLICATIONS.


PROMOTION OF ECONOMIC DEVELOPMENT AND JOBS CREATION IN CENTRAL KENTUCKY.


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Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$1,151,647
Fundraising events$0
Related organizations$0
Government grants $1,064,433
All other contributions, gifts, grants, and similar amounts not included above$572,303
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$2,788,383
Total Program Service Revenue$1,672,509
Investment income $5,442
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $93,942
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 $4,699,929

Grants Recieved

Over the last fiscal year, we have identified 2 grants that Commerce Lexington Inc has recieved totaling $523,470.

Awarding OrganizationAmount
Lexington Strides Ahead Foundation

Lexington, KY

PURPOSE: PROMOTE AND FUND ECONOMIC DEVELOPMENT IN LEXINGTON AND SURROUNDING AREAS

$519,970
Lexington Clinic Foundation For Medical Education And Research Inc

Lexington, KY

PURPOSE: MENTAL HEALTH MINUTE PROGRAM SPONSOR

$3,500
View Grant Recipient Profile

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