Fort Bend Chamber Of Commerce
- Assets
- $1.4m
- Revenue
- $1.1m
- Investments
- $418.5k
- Employees
- 12
- Location
- Sugar Land, TX
- Founding
- 04/1973
- Data as of
- 12/2021
- EIN
- 74-1751927
Organization Overview
Fort Bend Chamber Of Commerce is located in Sugar Land, TX. The organization was established in 1973. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Fort Bend Chamber Of Commerce employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fort Bend 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 Bend Chamber Of Commerce generated $1.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.6%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (6.0%) 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
THE ADVOCATE FOR BUSINESS EXCELLENCE IN FORT BEND COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FORT BEND CHAMBER OF COMMERCE IS THE FOREMOST RESOURCE, PROVIDING RELEVANT, INNOVATIVE, AND IMPACTFUL PROGRAMS, INITIATIVES AND SERVICES THAT ENHANCE THE QUALITY OF LIFE AND BUSINESS CLIMATE FOR FORT BEND COUNTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Keri Schmidt President/ceo | Officer | 60 | $251,060 |
Kevin Riles Incoming Chair | OfficerTrustee | 1 | $0 |
Dustin Fessler Legal Counsel | OfficerTrustee | 1 | $0 |
Jonathan Pursch Immediate Past Chair | OfficerTrustee | 1 | $0 |
Keith Borgfeldt Treasurer | OfficerTrustee | 1 | $0 |
Janice Suchyta Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $431,595 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $92,800 |
| 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 | $524,395 |
| Total Program Service Revenue | $480,760 |
| Investment income | $5,887 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $65,845 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,076,887 |
| 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. | $251,060 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $310,405 |
| Pension plan accruals and contributions | $13,993 |
| Other employee benefits | $0 |
| Payroll taxes | $37,205 |
| 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 | $60,454 |
| Advertising and promotion | $7,119 |
| Office expenses | $20,083 |
| Information technology | $38,887 |
| Royalties | $0 |
| Occupancy | $35,712 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $260,097 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $51,876 |
| Insurance | $23,505 |
| All other expenses | $6,277 |
| Total functional expenses | $1,157,110 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $461,847 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $146,423 |
| 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 | $410,911 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $418,538 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,908 |
| Total assets | $1,448,627 |
| Accounts payable and accrued expenses | $42,866 |
| Grants payable | $12,370 |
| Deferred revenue | $133,810 |
| 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 | $0 |
| Total liabilities | $189,046 |
| Net assets without donor restrictions | $1,259,581 |
| 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 | $1,448,627 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Fort Bend Chamber Of Commerce has recieved totaling $5,740.
| Awarding Organization | Amount |
|---|---|
Methodist Hospital Group Houston, TX PURPOSE: SPONSORSHIP | $5,240 |
Odyssey Outreach Houston, TX PURPOSE: GENERAL CONTRIBUTION | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Texas Association Of Realtors Austin, TX | $94,503,864 | $29,443,210 |
Arlington Convention & Visitors Bureau Inc Arlington, TX | $3,519,065 | $16,656,136 |
Promotional Products Association International Irving, TX | $24,269,680 | $12,861,271 |
Greater Oklahoma City Chamber Of Commerce Oklahoma City, OK | $12,639,674 | $12,068,118 |
Chamber Of Commerce Metropolitan Tulsa Tulsa, OK | $9,253,345 | $10,228,951 |
Fort Worth Convention And Visitors Bureau Fort Worth, TX | $6,320,777 | $12,812,000 |
Austin Convention And Visitors Bureau Inc Austin, TX | $8,364,471 | $6,830,186 |
Texas Municipal League Austin, TX | $8,928,481 | $7,134,656 |
Greater Austin Chamber Of Commerce Austin, TX | $7,488,664 | $6,719,729 |
San Antonio Economic Development Foundation San Antonio, TX | $4,503,315 | $6,901,379 |
Abilene Chamber Of Commerce Abilene, TX | $4,194,863 | $4,866,648 |
Greater New Orleans Inc New Orleans, LA | $2,019,283 | $4,542,927 |