Fort Smith Regional Chamber Of Commerce
- Assets
- $3.6m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 10
- Location
- Fort Smith, AR
- Founding
- 08/1942
- Data as of
- 12/2021
- EIN
- 71-0029620
Organization Overview
Fort Smith Regional Chamber Of Commerce is located in Fort Smith, AR. The organization was established in 1942. 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, Fort Smith Regional Chamber Of Commerce employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fort Smith Regional 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, Fort Smith Regional Chamber Of Commerce generated $1.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $1.1m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.4%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SERVE AS CATALYST FOR THE CONTINUAL IMPROVEMENT OF THE QUALITY OF LIFE AND THE ECONOMIC WELL-BEING OF THE CITIZENS OF THE FORT SMITH AREA
Describe the Organization's Program Activity:
Part 3 - Line 4a
ENCOURAGE AND ASSIST COMMERCIAL, INDUSTRIAL AND CIVIC DEVELOPMENT IN THE FORT SMITH, ARKANSAS AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ed Ford Director | Trustee | 1 | $0 |
Col David L Gibbons Director | Trustee | 1 | $0 |
Melissa Hanesworth Director | Trustee | 1 | $0 |
Brian Mays Director | Trustee | 1 | $0 |
Dr Terry Morawski Director | Trustee | 1 | $0 |
Dalton Person Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $16,567 |
| 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 | $16,567 |
| Total Program Service Revenue | $1,120,923 |
| Investment income | $10,985 |
| 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 | $1,187,649 |
| 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 | $597,420 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $42,753 |
| Payroll taxes | $40,246 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $29,362 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,567 |
| Office expenses | $19,216 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $20,783 |
| Travel | $5,303 |
| 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 | $47,601 |
| Insurance | $60,321 |
| All other expenses | $62,513 |
| Total functional expenses | $1,136,530 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,441,073 |
| Savings and temporary cash investments | $1,451,066 |
| Pledges and grants receivable | $243,734 |
| Accounts receivable, net | $27,295 |
| 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 | $4,532 |
| Net Land, buildings, and equipment | $427,349 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,595,049 |
| Accounts payable and accrued expenses | $62,874 |
| Grants payable | $0 |
| Deferred revenue | $251,816 |
| 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 | $50,000 |
| Total liabilities | $364,690 |
| Net assets without donor restrictions | $1,547,279 |
| Net assets with donor restrictions | $1,683,080 |
| 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 | $3,595,049 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Fort Smith Regional Chamber Of Commerce has recieved totaling $21,603.
| Awarding Organization | Amount |
|---|---|
Mercy Health Fort Smith Communities Fort Smith, AR PURPOSE: TO SUPPORT ORG'S MISSION | $21,603 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wi-Fi Alliance Austin, TX | $27,634,772 | $19,782,142 |
Nashville Convention & Visitors Bureau Nashville, TN | $15,667,602 | $21,623,147 |
St John Building Corporation St Louis, MO | $229,726,241 | $17,258,959 |
Greater Houston Partnership Inc Houston, TX | $22,962,720 | $19,728,312 |
Bbb Serving The Heart Of Texas Austin, TX | $13,203,011 | $18,551,696 |
National Biodiesel Board Jefferson City, MO | $12,011,947 | $15,134,555 |
Visit San Antonio San Antonio, TX | $11,429,570 | $19,048,365 |
Clean Gulf Associates Inc New Orleans, LA | $10,070,698 | $12,457,251 |
Meeting Professionals International Dallas, TX | $6,166,822 | $11,031,821 |
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 |