Lubbock Chamber Of Commerce
- Assets
- $1.1m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 16
- Location
- Lubbock, TX
- Founding
- 01/1946
- Data as of
- 12/2021
- EIN
- 75-0403180
Organization Overview
Lubbock Chamber Of Commerce is located in Lubbock, TX. The organization was established in 1946. 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, Lubbock Chamber Of Commerce employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lubbock 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, Lubbock Chamber Of Commerce generated $2.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $1.7m during the year ending 12/2021. 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 LUBBOCK CHAMBER OF COMMERCE PROVIDES PROMOTION OF BUSINESS AND COMMUNITY GROWTH AND DEVELOPMENT AS WELL AS PRESERVING THE COMPETITIVE BUSINESS ENTERPRISE SYSTEM IN THE LUBBOCK AND SURROUNDING AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LUBBOCK CHAMBER OF COMMERCE PROVIDES PROMOTION OF BUSINESS AND COMMUNITY GROWTH AND DEVELOPMENT AS WELL AS PRESERVING THE COMPETITIVE BUSINESS ENTERPRISE SYSTEM IN LUBBOCK AND THE SURROUNDING AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Casey Doyle Chair Elect | Officer | 2 | $0 |
Dana Madison Vice Chairman | Officer | 2 | $0 |
Becky Palmer Vice Chairman | Officer | 2 | $0 |
Steve Beck Treasurer | Officer | 2 | $0 |
Dave Marcinkowski Chairman | Officer | 2 | $0 |
Chris Chambers Vice Chairman | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $1,085,403 |
| 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 | $1,085,403 |
| Total Program Service Revenue | $705,481 |
| Investment income | $1,548 |
| 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 | $1,953,150 |
| 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. | $208,463 |
| Compensation of current officers, directors, key employees. | $208,463 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $646,879 |
| Pension plan accruals and contributions | $16,430 |
| Other employee benefits | $74,676 |
| Payroll taxes | $62,409 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,907 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $20,423 |
| Information technology | $12,314 |
| Royalties | $0 |
| Occupancy | $156,961 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,225 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,873 |
| Insurance | $12,495 |
| All other expenses | $163,102 |
| Total functional expenses | $1,675,146 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,059,484 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $68,029 |
| 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 | $2,759 |
| Net Land, buildings, and equipment | $9,491 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,139,763 |
| Accounts payable and accrued expenses | $33,918 |
| 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 | $150,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $183,918 |
| Net assets without donor restrictions | $926,854 |
| Net assets with donor restrictions | $28,991 |
| 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 | $1,139,763 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lubbock Chamber Of Commerce has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
Market Lubbock Economic Development Corporation Lubbock, TX PURPOSE: TO ASSIST WITH COSTS OF RENOVATION PROJECT THAT INCLUDES SITE DEMOLITION, MASONRY, STRUCTURAL STEEL, FRAMING, PLUMBING AND ELECTRICAL WORK. | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wi-Fi Alliance Austin, TX | $27,634,772 | $19,782,142 |
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 |
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 |
Dallas Regional Chamber Dallas, TX | $15,269,996 | $9,505,789 |
Brazos Pilots Association Freeport, TX | $5,263,034 | $10,473,577 |
American Agape Foundation Inc San Antonio, TX | $56,717,465 | $7,832,495 |
Salesmanship Club Of Dallas Dallas, TX | $14,081,869 | $8,485,267 |
United Brotherhood Of Carpenters And Joiners Of America Metairie, LA | $27,400,853 | $8,587,017 |
Texas Oil And Gas Association Inc Austin, TX | $10,912,231 | $6,947,737 |