Texarkana Chamber Of Commerce
- Assets
- $2.3m
- Revenue
- $538.2k
- Investments
- $0.0
- Employees
- 6
- Location
- Texarkana, TX
- Founding
- 05/1944
- Data as of
- 12/2020
- 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 12/2020, Texarkana Chamber Of Commerce employed 6 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 12/2020, Texarkana Chamber Of Commerce generated $538.2k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.2%) each year. All expenses for the organization totaled $584.2k during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (1.3%) per year over the past 6 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
2020
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.
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.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Malone President | 45 | $118,263 | |
Mark Van Herpen Director | OfficerTrustee | 10 | $0 |
Jennifer Harland Secretary | OfficerTrustee | 10 | $0 |
Joey Martin Finance Chair | OfficerTrustee | 10 | $0 |
Glen Boles Director | Trustee | 10 | $0 |
Judge James Carlow Director | Trustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $16,491 |
| 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 | $16,491 |
| Total Program Service Revenue | $370,447 |
| Investment income | $37,839 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,630 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $79,179 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $538,197 |
| 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. | $118,263 |
| Compensation of current officers, directors, key employees. | $118,263 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $164,109 |
| Pension plan accruals and contributions | $15,404 |
| Other employee benefits | $12,425 |
| Payroll taxes | $20,362 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,225 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $20,738 |
| Office expenses | $52,552 |
| Information technology | $19,468 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,675 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $195 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,352 |
| Insurance | $14,190 |
| All other expenses | $10,935 |
| Total functional expenses | $584,207 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $240,583 |
| Savings and temporary cash investments | $144,742 |
| 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 | $806 |
| Net Land, buildings, and equipment | $36,513 |
| Investments—publicly traded securities | $1,426,458 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $463,050 |
| Total assets | $2,312,152 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $13,360 |
| 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 | $13,361 |
| Net assets without donor restrictions | $1,420,497 |
| Net assets with donor restrictions | $878,294 |
| 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 | $2,312,152 |
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 TX PURPOSE: Post office renovation | $14,421 |
CITY OF TEXARKANA AR PURPOSE: Post office renovation | $14,421 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lloyds Register North America Inc Houston, TX | $53,290,945 | $33,311,416 |
Louisiana Ambulance Alliance Inc Napoleonville, LA | $5,578,332 | $30,543,889 |
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 |