Chamber Of Commerce-Huntsville-Madison County
- Assets
- $6.2m
- Revenue
- $4.4m
- Investments
- $0.0
- Employees
- 34
- Location
- Huntsville, AL
- Founding
- 00/0000
- Data as of
- 12/2021
- EIN
- 63-0039395
Organization Overview
Chamber Of Commerce-Huntsville-Madison County is located in Huntsville, 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, Chamber Of Commerce-Huntsville-Madison County employed 34 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chamber Of Commerce-Huntsville-Madison County 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, Chamber Of Commerce-Huntsville-Madison County generated $4.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $4.4m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTION AND DEVELOPMENT OF CIVIC AND ECONOMIC INTERESTS
Describe the Organization's Program Activity:
THE CHAMBER PROVIDED TRAINING, NETWORKING, COMMUNITY AWARENESS AND PROMOTION TO ITS 2,196 MEMBERS AND TO THE COMMUNITY AT LARGE. NEW AND EXPANDED COMPANIES RESULTED IN 3,015 NEW JOBS. ANNOUNCED CAPITAL INVESTMENT WAS $1.8 BILLION. THE CHAMBER PROVIDED MORE THAN 42 PROFESSIONAL DEVELOPMENT WORKSHOPS AND 6 UAH SBDC PARTNER WORKSHOPS AND HAD MORE THAN 116 RIBBON CUTTINGS AND GROUND BREAKINGS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chip Cherry President & CEO | 40 | $317,602 | |
Lucia Cape Employee | 40 | $151,685 | |
Michael Ward Employee | 40 | $126,013 | |
Mary Mcnairy Employee | 40 | $108,705 | |
Erin Koshut Employee | 40 | $108,705 | |
Tommy Battle Ex-Officio Member | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,362,559 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $844,895 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,207,454 |
| Total Program Service Revenue | $2,140,807 |
| Investment income | $21,360 |
| 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 | $4,392,639 |
| 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 | $1,866,850 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $495,474 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,808 |
| Fees for services: Accounting | $30,725 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $34,500 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $192,866 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $86,856 |
| Interest | $47,877 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $254,867 |
| Insurance | $0 |
| All other expenses | $82,563 |
| Total functional expenses | $4,364,309 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,049,976 |
| Pledges and grants receivable | $245,865 |
| Accounts receivable, net | $779,240 |
| 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 | $71,059 |
| Net Land, buildings, and equipment | $3,044,422 |
| Investments—publicly traded securities | $895,287 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $15,176 |
| Other assets | $103,826 |
| Total assets | $6,204,851 |
| Accounts payable and accrued expenses | $327,957 |
| Grants payable | $0 |
| Deferred revenue | $720,370 |
| 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 | $725,273 |
| Other liabilities | $0 |
| Total liabilities | $1,773,600 |
| Net assets without donor restrictions | $4,204,641 |
| Net assets with donor restrictions | $226,610 |
| 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 | $6,204,851 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Chamber Of Commerce-Huntsville-Madison County has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Huntsville Rehabilitation Fdn Huntsville, AL PURPOSE: SPONSORSHIP FOR THE 2021 U.S. PARALYMPIC CYCLING OPEN | $5,000 |
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 |