Lovington Chamber Of Development & Commerce Inc
- Assets
- $176.5k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Lovington, NM
- Founding
- 06/1999
- Data as of
- 12/2021
- EIN
- 85-0385316
Organization Overview
Lovington Chamber Of Development & Commerce Inc is located in Lovington, NM. The organization was established in 1999. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lovington Chamber Of Development & 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 12/2021, Lovington Chamber Of Development & Commerce Inc generated $108.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (10.8%) each year. All expenses for the organization totaled $112.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (5.2%) per year over the past 3 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
PROMOTE CIVIC DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alma Griffin President | 0 | $0 | |
Corey Helton Director | 0 | $0 | |
Brandee Savell Vice Preside | 0 | $0 | |
Jeremy Kelley Director | 0 | $0 | |
Michael Farley Secretary/tr | 0 | $0 | |
Brandon Hunt Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $60,657 |
| Total Program Service Revenue | $46,789 |
| Membership dues | $0 |
| Investment income | $945 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $108,391 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $61,201 |
| Professional fees and other payments to independent contractors | $1,246 |
| Occupancy, rent, utilities, and maintenance | $6,123 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $43,427 |
| Total expenses | $111,997 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $160,965 |
| Other assets | $0 |
| Total assets | $176,461 |
| Total liabilities | $4,336 |
| Net assets or fund balances | $172,125 |