Midlothian Chamber Of Commerce
- Assets
- $247.0k
- Revenue
- $491.7k
- Investments
- $0.0
- Employees
- 4
- Location
- Midlothian, TX
- Founding
- 08/1950
- Data as of
- 12/2021
- EIN
- 75-1691618
Organization Overview
Midlothian Chamber Of Commerce is located in Midlothian, TX. The organization was established in 1950. 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, Midlothian Chamber Of Commerce employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Midlothian 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, Midlothian Chamber Of Commerce generated $491.7k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.9% each year . All expenses for the organization totaled $347.6k during the year ending 12/2021. While expenses have increased by 7.2% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO BE THE CATALYST FOR ECONOMIC GROWTH FOR OUR MEMBERS AND THE COMMUNITY THROUGH ADVOCACY, EDUCATION AND COMMUNITY ENHANCEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE TOURISM AND ECONOMIC DEVELOPMENT
MEMBER SERVICES & PROMOTION
SMALL BUSINESS & LEADERSHIP TRAINING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laura Terhune President | Officer | 45 | $87,580 |
Judy Mcgraw Past Chair | Officer | 2 | $0 |
Angel Biasatti Chair | Officer | 2 | $0 |
Sharon Price Chair-Elect | Officer | 2 | $0 |
Stephen Hidlebaugh Director | Trustee | 2 | $0 |
Gerald Bonnell Treasurer | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $55,975 |
| All other contributions, gifts, grants, and similar amounts not included above | $25,574 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $81,549 |
| Total Program Service Revenue | $309,368 |
| Investment income | $227 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $100,603 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $491,747 |
| 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. | $87,580 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $99,285 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $8,141 |
| Payroll taxes | $20,443 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,540 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $945 |
| Advertising and promotion | $8 |
| Office expenses | $4,033 |
| Information technology | $11,452 |
| Royalties | $0 |
| Occupancy | $39,214 |
| Travel | $17 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $35,416 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $227 |
| Insurance | $3,256 |
| All other expenses | $15,009 |
| Total functional expenses | $347,591 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $69,390 |
| Savings and temporary cash investments | $177,451 |
| 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 | $0 |
| Net Land, buildings, and equipment | $150 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $246,991 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $38,635 |
| 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 | $38,635 |
| Net assets without donor restrictions | $208,356 |
| 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 | $246,991 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Midlothian Chamber Of Commerce has recieved totaling $14,975.
| Awarding Organization | Amount |
|---|---|
Methodist Hospitals Of Dallas Dallas, TX PURPOSE: Community Outreach | $14,975 |
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 |