Mobile Area Chamber Of Commerce
- Assets
- $2.0m
- Revenue
- $4.9m
- Investments
- $224.9k
- Employees
- 47
- Location
- Mobile, AL
- Founding
- 11/1940
- Data as of
- 12/2022
- EIN
- 63-0142765
Organization Overview
Mobile Area Chamber Of Commerce is located in Mobile, AL. The organization was established in 1940. 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 12/2022, Mobile Area Chamber Of Commerce employed 47 individuals. This organization is the central organization for a national or regional group of organizations. Mobile 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 12/2022, Mobile Area Chamber Of Commerce generated $4.9m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $5.4m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.7%) per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
COMMUNITY AND ECONOMIC DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBERSHIP - PROVIDES SERVICES ON TOTAL RESOURCE DEVELOPMENT CAMPAIGNS, CUSTOMER SERVICE, HELP DESK SERVICES, GENERAL MEMBERSHIP PROJECTS AND COMMUNICATIONS WITH MEMBERS.
SMALL BUSINESS DEVELOPMENT
ECONOMIC DEVELOPMENT - PROGRAM TO PROVIDE SERVICES RELATED TO MARKETING THE MOBILE AREA WITH A VIEW TOWARDS ECONOMIC AND COMMUNITY DEVELOPMENT.
COMMUNICATIONS - PROGRAMS AND ACTIVITIES TO GEAR THE PUBLIC AND CHAMBER MEMBERS TO PROMOTE THE MOBILE AREA THROUGH NATIONAL AND INTERNATIONAL PUBLIC RELATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Bryant Director | Trustee | 1 | $0 |
Janet Cobb Director | Trustee | 1 | $0 |
Tommy Faust Director | Trustee | 1 | $0 |
George Talbot Director | Trustee | 1 | $0 |
Diana Allen Director | Trustee | 1 | $0 |
Kel Boisvert Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| 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 | $0 |
| Total Program Service Revenue | $4,909,903 |
| Investment income | $6,750 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,076 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,918,729 |
| 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. | $741,886 |
| Compensation of current officers, directors, key employees. | $741,886 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,573,989 |
| Pension plan accruals and contributions | $56,045 |
| Other employee benefits | $163,670 |
| Payroll taxes | $168,095 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $59,100 |
| Office expenses | $60,743 |
| Information technology | $238,867 |
| Royalties | $0 |
| Occupancy | $243,801 |
| Travel | $4,597 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $168,561 |
| Interest | $1,671 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,388 |
| Insurance | $23,194 |
| All other expenses | $534,682 |
| Total functional expenses | $5,375,035 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $533,069 |
| Savings and temporary cash investments | $592,358 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $525,866 |
| 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 | $53,802 |
| Net Land, buildings, and equipment | $85,455 |
| Investments—publicly traded securities | $640 |
| Investments—other securities | $224,941 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,016,131 |
| Accounts payable and accrued expenses | $185,802 |
| Grants payable | $0 |
| Deferred revenue | $1,142,092 |
| 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 | $52,494 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $216,538 |
| Total liabilities | $1,596,926 |
| Net assets without donor restrictions | $419,205 |
| 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 | $2,016,131 |