Jonesboro Regional Chamber Of Commerce
- Assets
- $1.2m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 7
- Location
- Jonesboro, AR
- Founding
- 06/1973
- Data as of
- 09/2022
- EIN
- 71-0097645
Organization Overview
Jonesboro Regional Chamber Of Commerce is located in Jonesboro, AR. The organization was established in 1973. 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 09/2022, Jonesboro Regional Chamber Of Commerce employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Jonesboro 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 09/2022, Jonesboro 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 (1.3%) each year. All expenses for the organization totaled $1.1m during the year ending 09/2022. As we would expect to see with falling revenues, expenses have declined by (2.2%) 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
COMMUNITY DEVELOPMENT, ECONOMIC DEVELOPMENT, LEADERSHIP DEVELOPMENT, INDUSTRIAL DEVELOPMENT, MEMBERSHIP DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE INDUSTRIAL DEVELOPMENT EFFORTS OF THE JONESBORO REGIONAL CHAMBER OF COMMERCE IMPROVES THE QUALITY OF LIFE FOR THE COMMUNITY BY PROVIDING JOB OPPORTUNITIES TO ALL CITIZENS. THE SERVICES ARE FOCUSED IN THE RECRUITMENT OF INDUSTRIAL JOBS, WORKING WITH EXISTING INDUSTRIES TO ASSIST THEM IN EXPANSION EFFORTS AS WELL AS THE RETENTION OF JOBS AND TO PLAN AND MANAGE INDUSTRIAL ASSETS (INDUSTRIAL PARKS) TO ENSURE FUTURE GROWTH.
THE JONESBORO REGIONAL CHAMBER ALSO PROMOTES ECONOMIC DEVELOPMENT THROUGH THE GROWTH OF THE AGRICULTURAL, RETAIL AND SERVICE SECTORS AND CREATING AN ENVIRONMENT IN THE COMMUNITY IN WHICH BUSINESS CAN THRIVE. SERVICES INCLUDE BUSINESS ADVOCACY ON BEHALF OF THE MEMBERS, WORKFORCE DEVELOPMENT PROGRAMS TO ENSURE THERE IS A QUALIFIED WELL TRAINED WORKFORCE AND THE STATES LARGEST BUSINESS EXPO THAT PROVIDES AN OPPORTUNITY FOR BUSINESSES TO PROMOTE THEIR PRODUCTS AND SERVICES TO THE GENERAL PUBLIC.
MEMBERSHIP DEVELOPMENT IS A KEY PART OF THE SERVICES PROVIDED TO THE MEMBERS. THE JONESBORO REGIONAL CHAMBER OF COMMERCE HAS A LARGE AND ACTIVE MEMBERSHIP AND CONTINUES TO HAVE A VERY HIGH MEMBERSHIP RETENTION RATE. MEMBERSHIP DEVELOPMENT INCLUDES NUMEROUS NETWORKING PROGRAMS THAT GIVE MEMBERS AN OPPORTUNITY TO PROMOTE THEIR BUSINESS TO OTHER MEMBERS AND NON-MEMBERS. IN ADDITION SEVERAL PROGRAMS ARE DESIGNED TO PROVIDE TRAINING AND EDUCATIONAL SERVICES TO THE MEMBERS THAT WILL RESULT IN IMPROVED BUSINESS SUCCESS, THUS IMPROVING THE ECONOMY AND QUALITY OF LIFE OF THE REGION.
LEADERSHIP AND COMMUNITY DEVELOPMENT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Young President | Officer | 40 | $173,707 |
Cari White Executive Vice-President | Officer | 40 | $96,033 |
Lisa Golden Chair | OfficerTrustee | 1 | $0 |
Drkaren Mcdaniel Treasurer | OfficerTrustee | 1 | $0 |
Russ Hannah Ipc | OfficerTrustee | 1 | $0 |
Kevin Lawrence Chair Elect | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $510,743 |
| Fundraising events | $0 |
| Related organizations | $94,021 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $238,240 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $843,004 |
| Total Program Service Revenue | $305,980 |
| Investment income | $2,466 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $9,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,169,797 |
| 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. | $269,740 |
| Compensation of current officers, directors, key employees. | $27,892 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $312,867 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $98,960 |
| Payroll taxes | $49,811 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $30,128 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,036 |
| Office expenses | $32,418 |
| Information technology | $1,559 |
| Royalties | $0 |
| Occupancy | $11,731 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $159,729 |
| Interest | $2,050 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $29,214 |
| Insurance | $14,860 |
| All other expenses | $20,123 |
| Total functional expenses | $1,149,204 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $540,289 |
| Savings and temporary cash investments | $221,933 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $94,865 |
| 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 | $13,632 |
| Net Land, buildings, and equipment | $286,759 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $68,522 |
| Total assets | $1,226,000 |
| Accounts payable and accrued expenses | $50,126 |
| Grants payable | $0 |
| Deferred revenue | $361,261 |
| 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 | $40,154 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $451,541 |
| Net assets without donor restrictions | $774,459 |
| 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 | $1,226,000 |
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