Durant Area Chamber Of Commerce
- Assets
- $305.4k
- Revenue
- $625.1k
- Investments
- $0.0
- Employees
- 4
- Location
- Durant, OK
- Founding
- 01/1972
- Data as of
- 12/2023
- EIN
- 73-0222289
Organization Overview
Durant Area Chamber Of Commerce is located in Durant, OK. The organization was established in 1972. 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 12/2023, Durant Area Chamber Of Commerce employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Durant 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 12/2023, Durant Area Chamber Of Commerce generated $625.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.4% each year . All expenses for the organization totaled $656.4k during the year ending 12/2023. While expenses have increased by 12.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
FACILITATE BUSINESS ACTIVITY IN THE BRYAN COUNTY, OK AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CHAMBERS ONGOING OBJECTIVE IS TO PROMOTE AND FACILITATE BUSINESS ACTIVITY AND ACTIVELY PURSUE ECONOMIC DEVELOPMENT IN THE SURROUNDING COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Janet Reed Executive Director | Officer | 40 | $105,019 |
Scott Dewald President | Officer | 8 | $0 |
Cole Walker First VP | Officer | 1 | $0 |
Rob Piearcy Second VP | Officer | 1 | $0 |
Stacy Hammond Treasurer | Officer | 2 | $0 |
Brandi Burkhalter Member At Large | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $151,591 |
| Fundraising events | $175,301 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $336,892 |
| Total Program Service Revenue | $268,770 |
| Investment income | $270 |
| 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 | $625,071 |
| 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. | $105,019 |
| Compensation of current officers, directors, key employees. | $105,019 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $151,668 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $10,332 |
| Payroll taxes | $22,401 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,165 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,465 |
| Office expenses | $7,287 |
| Information technology | $2,959 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,189 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,598 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,712 |
| Insurance | $11,522 |
| All other expenses | $255,064 |
| Total functional expenses | $656,428 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $84,468 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $202,917 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $18,061 |
| Total assets | $305,446 |
| 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 | $139,003 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,116 |
| Total liabilities | $146,119 |
| Net assets without donor restrictions | $0 |
| 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 | $159,327 |
| Total liabilities and net assets/fund balances | $305,446 |