Richmond Chamber Of Commerce Inc
- Assets
- $184.2k
- Revenue
- $259.0k
- Investments
- $0.0
- Employees
- 5
- Location
- Richmond, KY
- Founding
- 02/1991
- Data as of
- 12/2021
- EIN
- 61-0397625
Organization Overview
Richmond Chamber Of Commerce Inc is located in Richmond, KY. The organization was established in 1991. 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 12/2021, Richmond Chamber Of Commerce Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Richmond 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, Richmond Chamber Of Commerce Inc generated $259.0k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $204.5k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.8%) per year over the past 7 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
THE RICHMOND CHAMBER OF COMMERCE PROVIDES VISION AND LEADERSHIP THROUGH COLLABORATION AND SUPPORT TO ADD VALUE TO OUR MEMBERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION WAS ESTABLISHED IN NOVEMBER 1931 TO PROVIDE VISION AND LEADERSHIP FOR RICHMOND AND MADISON COUNTY WITH FIRM COMMITMENT TO SUPPORT ECONOMIC DEVELOPMENT, A POSITIVE BUSINESS CLIMATE AND STABILITY AND GROWTH FOR ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Madison Pergrem Executive Di | OfficerTrustee | 40 | $29,762 |
Rodney Davis Past Board C | OfficerTrustee | $0 | |
Greg Gerard Board Chair | OfficerTrustee | $0 | |
Rev Robert R Blythe Director | Trustee | $0 | |
JD Chaney Director | Trustee | $0 | |
Colleen Chaney Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $109,002 |
| 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 | $109,002 |
| Total Program Service Revenue | $133,170 |
| Investment income | $57 |
| 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 | $258,963 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $77,068 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,687 |
| Payroll taxes | $6,886 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,752 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,477 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,248 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | -$1,482 |
| Interest | $498 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,529 |
| Insurance | $3,915 |
| All other expenses | $15,611 |
| Total functional expenses | $204,463 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,942 |
| Savings and temporary cash investments | $75,570 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,705 |
| 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 | $0 |
| Net Land, buildings, and equipment | $84,979 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $184,196 |
| Accounts payable and accrued expenses | $6,802 |
| Grants payable | $0 |
| Deferred revenue | $28,285 |
| 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 | $35,087 |
| Net assets without donor restrictions | $149,109 |
| 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 | $184,196 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Richmond Chamber Of Commerce Inc has recieved totaling $7,000.
| Awarding Organization | Amount |
|---|---|
Baptist Healthcare System Inc Louisville, KY PURPOSE: General Support | $7,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Federation Of Independent Business Inc Nashville, TN | $77,203,691 | $109,079,617 |
Information Systems Audit And Control Association Inc Schaumburg, IL | $168,414,298 | $101,751,321 |
International Code Council Inc Country Club Hills, IL | $173,275,221 | $89,069,791 |
Packaging Machinery Manufacturers Institute Inc Herndon, VA | $71,869,344 | $62,733,082 |
American Property Casualty Insurance Association Chicago, IL | $156,045,230 | $59,541,606 |
Consumer Technology Association Arlington, VA | $357,760,838 | $25,474,279 |
Healthcare Information And Management Systems Society Chicago, IL | $52,722,997 | $65,054,367 |
Inter-Industry Conference On Auto Collision Repairs Hoffman Estates, IL | $98,841,828 | $60,778,547 |
Society Of Actuaries Professional Association Schaumburg, IL | $48,907,069 | $54,354,624 |
Fs-Isac Inc Reston, VA | $27,418,346 | $31,957,295 |
National Association Of Convenience Stores Inc Alexandria, VA | $81,131,547 | $56,800,862 |
National Association Of State Boards Of Accountancy Inc Nashville, TN | $83,126,370 | $38,317,801 |