Texarkana Chamber Of Commerce
- Assets
- $2.1m
- Revenue
- $674.4k
- Investments
- $0.0
- Employees
- 5
- Location
- Texarkana, TX
- Founding
- 05/1944
- Data as of
- 12/2023
- EIN
- 75-0694083
Organization Overview
Texarkana Chamber Of Commerce is located in Texarkana, TX. The organization was established in 1944. 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, Texarkana Chamber Of Commerce employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Texarkana 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, Texarkana Chamber Of Commerce generated $674.4k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $797.9k during the year ending 12/2023. While expenses have increased by 2.6% per year over the past 9 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
THE CHAMBER OF COMMERCE WAS ORGANIZED TO PROMOTE ECONOMIC DEVELOPMENT AND TOURISM IN THE TEXARKANA, ARKANSAS AND TEXARKANA, TEXAS AREAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COURTHOUSE SQUARE PROJECT- PROVIDES ASSISTANCE FOR RENOVATION PROJECTS AT THE COURTHOUSE.
VISITORS AND CONVENTIONS - PROMOTES THE AREA AS A TOURIST AND CONVENTION SITE.
ECONOMIC DEVELOPMENT - PROVIDES LOANS AND PROMOTES BUSINESS AND INDUSTRIAL DEVELOPMENT IN THE TEXARKANA AREA.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Denis Washington President/ceo | 45 | $125,980 | |
John Collins Director | Trustee | 10 | $0 |
Brock Mccorkle Director | Trustee | 10 | $0 |
Brandon Washington Director | Trustee | 10 | $0 |
Justin White Director | Trustee | 10 | $0 |
Ron Copeland Director | Trustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $10,726 |
| 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 | $10,726 |
| Total Program Service Revenue | $417,473 |
| Investment income | $39,103 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $775 |
| Net Gain/Loss on Asset Sales | $23,233 |
| Net Income from Fundraising Events | $92,809 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $674,407 |
| 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. | $117,692 |
| Compensation of current officers, directors, key employees. | $117,692 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $136,116 |
| Pension plan accruals and contributions | $7,972 |
| Other employee benefits | $29,269 |
| Payroll taxes | $25,032 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $56,778 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $11,066 |
| Office expenses | $82,398 |
| Information technology | $20,629 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,489 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,103 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,940 |
| Insurance | $18,413 |
| All other expenses | $26,922 |
| Total functional expenses | $797,937 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $546,193 |
| Savings and temporary cash investments | $893,000 |
| 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 | $45,064 |
| Net Land, buildings, and equipment | $114,631 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $463,050 |
| Total assets | $2,061,938 |
| Accounts payable and accrued expenses | $41,083 |
| Grants payable | $0 |
| Deferred revenue | $55,674 |
| 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 | $1 |
| Total liabilities | $96,758 |
| Net assets without donor restrictions | $1,056,501 |
| Net assets with donor restrictions | $908,679 |
| 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 | $2,061,938 |
Grants Awarded
Over the last fiscal year, Texarkana Chamber Of Commerce has awarded $28,842 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF TEXARKANA AR PURPOSE: Post office renovation | $14,421 |
CITY OF TEXARKANA TX PURPOSE: Post office renovation | $14,421 |