Montgomery Area Chamber Of Commerce Foundation Inc
- Assets
- $2.5m
- Revenue
- -$226.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Montgomery, AL
- Founding
- 02/1984
- Data as of
- 12/2022
- EIN
- 63-0862043
Organization Overview
Montgomery Area Chamber Of Commerce Foundation Inc is located in Montgomery, AL. The organization was established in 1984. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Montgomery Area Chamber Of Commerce Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE CHARITABLE, EDUCATIONAL, SCIENTIFIC, AND CULTURAL ACTIVITIES IN THE CITY OF MONTGOMERY, ALABAMA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSES RELATED TO THE HISTORICAL PRESERVATION AND PROMOTION OF THE MONTGOMERY AREA.
EXPENSES RELATED TO ASSISTING SMALL BUSINESSES IN THE MONTGOMERY AREA. THIS INCLUDES EXPENSES FOR OPERATIONS OF THE BUSINESS RESOURCE CENTER AS WELL AS A COVID GRANT FUND, BOTH OF WHICH HAVE THE PURPOSE OF REDUCING UNEMPLOYMENT AND INCREASING THE NUMBER OF QUALITY JOBS.
EXPENSES RELATED TO EDUCATION AND LEADERSHIP INCLUDING SPONSORSHIP OF BACCALAUREATE WORKSHOPS AND LEADERSHIP ACADEMY PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Willie Durham Chairman | OfficerTrustee | 1 | $0 |
Arthur Ducote Vice Chairma | OfficerTrustee | 1 | $0 |
Paul Redhead Secretary/tr | OfficerTrustee | 1 | $0 |
Judge Charles Price Director | Trustee | 1 | $0 |
Bruce Crawford Director | Trustee | 1 | $0 |
Edward F Crowell Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $50,518 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $70,550 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $121,068 |
| Total Program Service Revenue | $91,082 |
| Investment income | $472 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $134,054 |
| Net Gain/Loss on Asset Sales | -$765,471 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$226,842 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $969 |
| Office expenses | $973 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $161,819 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $93,559 |
| Insurance | $8,118 |
| All other expenses | $0 |
| Total functional expenses | $303,152 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $945,177 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,238 |
| 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 | $1,513,462 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,461,877 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,220 |
| Total liabilities | $7,220 |
| Net assets without donor restrictions | $2,336,527 |
| Net assets with donor restrictions | $118,130 |
| 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 | $2,461,877 |