Montgomery Area Chamber Of Commerce
- Assets
- $3.8m
- Revenue
- $6.6m
- Investments
- $0.0
- Employees
- 43
- Location
- Montgomery, AL
- Founding
- 00/0000
- Data as of
- 12/2021
- EIN
- 63-0039380
Organization Overview
Montgomery Area Chamber Of Commerce is located in Montgomery, AL. The organization was established in 0000. 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, Montgomery Area Chamber Of Commerce employed 43 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Montgomery Area 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, Montgomery Area Chamber Of Commerce generated $6.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $5.4m 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
TO ADVANCE THE CIVIC, COMMERCIAL, AND INDUSTRIAL INTERESTS OF THE MONTGOMERY AREA FOR THE GENERAL BENEFIT AND WELFARE OF THE TOTAL COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COSTS WERE INCURRED IN PROMOTING AREA ECONOMIC DEVELOPMENT, TOURISM, CONVENTIONS, AND MEMBER SERVICES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anna Buckalew President/ce | Officer | 40 | $251,953 |
Ellen Mcnair Vice Preside | Officer | 40 | $193,513 |
Sheron Rose Vice Preside | Officer | 40 | $155,000 |
Patsy Guy CFO | 40 | $140,000 | |
Paul Redhead Vice Preside | 40 | $124,500 | |
Shelby Stringfellow Vice Preside | 40 | $118,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,233,524 |
| 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 | $4,233,524 |
| Total Program Service Revenue | $2,040,924 |
| Investment income | $5,774 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$85,055 |
| Net Income from Fundraising Events | $365,058 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$5,640 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,554,835 |
| 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. | $629,187 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,973,585 |
| Pension plan accruals and contributions | $52,390 |
| Other employee benefits | $167,177 |
| Payroll taxes | $193,342 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $32,930 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $2,500 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $73,065 |
| Office expenses | $224,916 |
| Information technology | $45,036 |
| Royalties | $0 |
| Occupancy | $101,785 |
| Travel | $161,212 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $133,158 |
| Interest | $6,428 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $34,583 |
| Insurance | $22,188 |
| All other expenses | $596,496 |
| Total functional expenses | $5,421,891 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,632,141 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $7,773 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $126,926 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,766,840 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $47,941 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $30,756 |
| Total liabilities | $78,697 |
| Net assets without donor restrictions | $3,097,312 |
| Net assets with donor restrictions | $590,831 |
| 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 | $3,766,840 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Montgomery Area Chamber Of Commerce has recieved totaling $43,000.
| Awarding Organization | Amount |
|---|---|
Truist Foundation Inc Orlando, FL PURPOSE: GENERAL OPERATING | $25,000 |
Mike And Corky Hale Stoller Foundation Los Angeles, CA PURPOSE: CHARITABLE CONTRIBUTION | $15,000 |
Landa Fund Montgomery, AL PURPOSE: GENERAL FUND | $3,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nashville Convention & Visitors Bureau Nashville, TN | $15,667,602 | $21,623,147 |
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 |
Nashville Downtown Partnership Inc Nashville, TN | $5,610,530 | $12,726,748 |
National Cotton Council Of America Cordova, TN | $27,244,437 | $12,698,051 |
Radio Music License Committee Brentwood, TN | $1,028,521 | $6,574,625 |
Midtown Business Association Inc Atlanta, GA | $4,952,556 | $10,845,776 |