Farmington Chamber Of Commerce Inc
- Assets
- $318.1k
- Revenue
- $225.0k
- Investments
- $0.0
- Employees
- 3
- Location
- Farmington, NM
- Founding
- 10/1957
- Data as of
- 12/2022
- EIN
- 85-0092481
Organization Overview
Farmington Chamber Of Commerce Inc is located in Farmington, NM. The organization was established in 1957. 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 12/2022, Farmington Chamber Of Commerce Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Farmington Chamber Of Commerce Inc 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 12/2022, Farmington Chamber Of Commerce Inc generated $225.0k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $210.1k during the year ending 12/2022. While expenses have increased by 0.1% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE AND PERPETUATE THE BUSINESS, COMMERCIAL, INDUSTRIAL AND CIVIC INTEREST OF FARMINGTON.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE AND PERPETUATE THE BUSINESS, COMMERICAL, INDUSTRIAL AND CIVIC INTEREST OF FARMINGTON
PROMOTE AND PERPETUATE THE BUSINESS, COMMERICAL, INDUSTRIAL AND CIVIC INTEREST OF FARMINGTON
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Georgette Allen Director | Trustee | 2 | $0 |
Addie Betancourt Director | Trustee | 2 | $0 |
Eddie Carraro Director | Trustee | 2 | $0 |
Alli Davis Chair | OfficerTrustee | 2 | $0 |
Shay Davis Director | Trustee | 2 | $0 |
Allen Elmore Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $135,531 |
| 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 | $135,531 |
| Total Program Service Revenue | $89,347 |
| Investment income | $4,654 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$4,554 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $224,978 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $104,014 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,369 |
| Payroll taxes | $8,111 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,041 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,719 |
| Fees for services: Other | $17,091 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,888 |
| Travel | $82 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,384 |
| All other expenses | $2,671 |
| Total functional expenses | $210,075 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $52,169 |
| Savings and temporary cash investments | $265,120 |
| 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 | $771 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $318,060 |
| Accounts payable and accrued expenses | $6,010 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $6,010 |
| Net assets without donor restrictions | $249,065 |
| Net assets with donor restrictions | $62,985 |
| 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 | $318,060 |