The Fort Worth Chamber Of Commerce
- Assets
- $2.4m
- Revenue
- $4.5m
- Investments
- $0.0
- Employees
- 31
- Location
- Fort Worth, TX
- Founding
- 09/1934
- Data as of
- 12/2020
- EIN
- 75-0275060
Organization Overview
The Fort Worth Chamber Of Commerce is located in Fort Worth, TX. The organization was established in 1934. 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 12/2020, Fort Worth Chamber Of Commerce employed 31 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fort Worth 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 12/2020, Fort Worth Chamber Of Commerce generated $4.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $3.8m during the year ending 12/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
IT IS THE MISSION OF THE FORT WORTH CHAMBER OF COMMERCE TO BRING THE FORT WORTH REGION TOGETHER TO IDENTIFY ISSUES, SOLVE PROBLEMS AND HELP ALIGN RESOURCES, RESULTING IN A STRONGER BUSINESS CLIMATE AND GREATER ECONOMIC PROSPERITY FOR ALL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACTIVITIES IN CONNECTION WITH THE PROMOTION OF THE CITY OF FORT WORTH. FACILITATION OF THE INTERCHANGE OF BUSINESS IDEAS & OTHER EFFORTS INTENDED TO GATHER BUSINESS INFORMATION, WHICH WILL LEAD TO AND DEVELOP A SYSTEM OF COMMERCIAL CONTACTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William J Thornton Jr President/ceo/director | OfficerTrustee | 40 | $495,782 |
Brandom Gengelbach Executive VP Economic Deve | Officer | 40 | $378,632 |
Christopher Strayer SVP Business Attraction & | Officer | 40 | $218,600 |
Patricia Steelman Executive VP & CFO | Officer | 40 | $188,958 |
Marilyn Gilbert Executive VP Marketing | Officer | 40 | $156,098 |
Katie Douglass Executive Vice President | Officer | 40 | $118,157 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $4,478,328 |
| Investment income | $440 |
| 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 | $4,478,768 |
| 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. | $1,516,455 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $681,345 |
| Pension plan accruals and contributions | $37,717 |
| Other employee benefits | $187,546 |
| Payroll taxes | $172,477 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $27,525 |
| Fees for services: Lobbying | $900 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $168,060 |
| Advertising and promotion | $0 |
| Office expenses | $43,027 |
| Information technology | $449 |
| Royalties | $0 |
| Occupancy | $254,603 |
| Travel | $165,561 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $331,717 |
| Interest | $25,753 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,824 |
| Insurance | $0 |
| All other expenses | $11,027 |
| Total functional expenses | $3,830,332 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,005,395 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $25,893 |
| 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 | $26,226 |
| Net Land, buildings, and equipment | $545,218 |
| Investments—publicly traded securities | $815,181 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,417,913 |
| Accounts payable and accrued expenses | $620,479 |
| Grants payable | $0 |
| Deferred revenue | $510,700 |
| 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 | $522,849 |
| Total liabilities | $1,654,028 |
| Net assets without donor restrictions | $339,704 |
| Net assets with donor restrictions | $424,181 |
| 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 | $2,417,913 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Fort Worth Chamber Of Commerce has recieved totaling $13,500.
| Awarding Organization | Amount |
|---|---|
Texas Health Resources Arlington, TX PURPOSE: General Purpose | $13,500 |
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 |