Rutherford County Chamber Of Commerce
- Assets
- $8.7m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 23
- Location
- Murfreesboro, TN
- Founding
- 03/1965
- Data as of
- 12/2021
- EIN
- 62-0302540
Organization Overview
Rutherford County Chamber Of Commerce is located in Murfreesboro, TN. The organization was established in 1965. 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, Rutherford County Chamber Of Commerce employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rutherford County Chamber Of Commerce 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, Rutherford County Chamber Of Commerce generated $3.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $2.7m 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
COMMUNITY AND BUSINESS DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
TOURISM DEVELOPMENT - INVOLVES DEVELOPMENT AND PROMOTION OF TOURISM IN RUTHERFORD COUNTY
DESTINATION RUTHERFORD - THE GOALS OF THE DESTINATION RUTHERFORD PROGRAM IS TO PROMOTE ECONOMIC GROWTH AND BALANCE, LEADERSHIP AND COMMUNITY DEVELOPMENT, AND EDUCATIONAL ADVANTAGES.
MEMBER SERVICES - PROVIDES MEMBERSHIP ACTIVITIES INCLUDING BUSINESS RECRUITMENT, MEMBER ENGAGEMENT EVENTS AND PROFESSIONAL DEVELOPMENT OPPORTUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Latture President | Officer | 40 | $267,142 |
Patrick Cammack Economic Dev | 40 | $131,568 | |
Stephanie Brackman Chief Oper Officer | 40 | $118,314 | |
Beth Duffield VP Workforce Dev | 40 | $79,414 | |
Barbara Wolke VP Conv Bureau | 40 | $78,035 | |
Erin Hutchens Dir Of Econ Dev | 40 | $71,070 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,896,066 |
| All other contributions, gifts, grants, and similar amounts not included above | $102,330 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,998,396 |
| Total Program Service Revenue | $837,579 |
| Investment income | $191,631 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $85,436 |
| 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 | $3,342,621 |
| 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. | $267,142 |
| Compensation of current officers, directors, key employees. | $237,179 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,007,917 |
| Pension plan accruals and contributions | $70,165 |
| Other employee benefits | $0 |
| Payroll taxes | $85,649 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $73,640 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $101,002 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $95,833 |
| Travel | $12,919 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $21,757 |
| Interest | $23 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $57,275 |
| Insurance | $145,385 |
| All other expenses | $378,562 |
| Total functional expenses | $2,690,265 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $777,044 |
| Savings and temporary cash investments | $6,918,405 |
| Pledges and grants receivable | $364,500 |
| Accounts receivable, net | $252,809 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $14,238 |
| Prepaid expenses and deferred charges | $41,784 |
| Net Land, buildings, and equipment | $183,377 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $106,668 |
| Total assets | $8,658,825 |
| Accounts payable and accrued expenses | $17,586 |
| Grants payable | $0 |
| Deferred revenue | $350,350 |
| 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 | $1,569 |
| Total liabilities | $369,505 |
| Net assets without donor restrictions | $8,114,320 |
| Net assets with donor restrictions | $175,000 |
| 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 | $8,658,825 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Metropolitan Atlanta Chamber Of Commerce Inc Atlanta, GA | $19,028,351 | $14,011,506 |
Williamsburg Area Chamber Of Commerce Williamsburg, VA | $14,757,466 | $13,076,106 |
Savannah Area Chamber Of Commerce Savannah, GA | $13,537,143 | $16,865,609 |
Naiop Inc Herndon, VA | $24,051,800 | $11,820,157 |
Association Of Small Business Development Centers Burke, VA | $3,386,085 | $9,990,521 |
Charlotte Regional Realtor Association Inc Charlotte, NC | $53,438,404 | $12,494,849 |
North Carolina Association Of Realtors Inc Greensboro, NC | $31,160,587 | $11,391,480 |
The North Carolina Community Action Association Raleigh, NC | $4,811,006 | $8,169,285 |
American Seed Trade Association Alexandria, VA | $7,353,007 | $6,785,185 |
Virginia Association Of Realtors Richmond, VA | $25,601,642 | $9,283,805 |
Raleigh Regional Association Of Realtors Inc Cary, NC | $11,211,879 | $6,674,452 |
Professional Services Council Inc Arlington, VA | $6,239,213 | $6,315,119 |