Civic Intelligence

Outer Banks Chamber of Commerce Inc

990 • Fiscal year 2022 • EIN 56-0899110

Oct 01, 2021 to Sep 30, 2022 • Filed on Jan 24, 2023

Organization Profile

View Organization Page

PO Box 1757Kill Devil Hills, NC 27948

(252) 441-8144

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

90th percentile

0.43x

Higher debt load relative to assets than 90% of similar nonprofits.

2022 filings • 501(c)6 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

92nd percentile

0.46x

Higher debt load relative to revenue than 92% of similar nonprofits.

2022 filings • 501(c)6 • <$500k nonprofits • Source year 2022

Net Margin

62nd percentile

8.5%

Higher net margin than 62% of similar nonprofits.

2022 filings • 501(c)6 • <$500k nonprofits • Source year 2022

Top Officer Pay

97th percentile

$106,846

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 28.3% of source-year revenue.

2022 filings • 501(c)6 • <$500k nonprofits • Source year 2022

Asset Growth

15th percentile

-25%

Faster asset growth than 15% of similar nonprofits.

2022 filings • 501(c)6 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

41st percentile

3.6%

Faster revenue growth than 41% of similar nonprofits.

2022 filings • 501(c)6 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets90th percentile

Assets

Down

$400,687

Down $136,175 (-25%) from 2021

Net Assets

Up

$226,563

Up $32,267 (+17%) from 2021

Liabilities

Down

$174,124

Down $168,442 (-49%) from 2021

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin62nd percentile

Revenue

Up

$377,677

Up $13,287 (+3.6%) from 2021

Expenses

Up

$345,410

Up $6,471 (+1.9%) from 2021

Net Income

Up

$32,267

Up $6,816 (+27%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth15th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$600K$400K$200K$0Assets 2011: $460,401Liabilities 2011: $267,878Net Assets 2011: $192,5232011Assets 2012: $455,423Liabilities 2012: $246,417Net Assets 2012: $209,0062012Assets 2013: $496,430Liabilities 2013: $209,856Net Assets 2013: $286,5742013Assets 2014: $521,093Liabilities 2014: $215,957Net Assets 2014: $305,1362014Assets 2015: $527,523Liabilities 2015: $217,679Net Assets 2015: $309,8442015Assets 2016: $462,120Liabilities 2016: $199,733Net Assets 2016: $262,3872016Assets 2017: $390,117Liabilities 2017: $188,556Net Assets 2017: $201,5612017Assets 2018: $303,290Liabilities 2018: $176,416Net Assets 2018: $126,8742018Assets 2019: $284,371Liabilities 2019: $183,668Net Assets 2019: $100,7032019Assets 2020: $432,411Liabilities 2020: $327,351Net Assets 2020: $105,0602020Assets 2021: $536,862Liabilities 2021: $342,566Net Assets 2021: $194,2962021Assets 2022: $400,687Liabilities 2022: $174,124Net Assets 2022: $226,5632022Assets 2023: $354,427Liabilities 2023: $153,306Net Assets 2023: $201,1212023Assets 2024: $333,802Liabilities 2024: $139,101Net Assets 2024: $194,7012024

Highlighted filing

2022

Assets$400,687
Liabilities$174,124
Net Assets$226,563
Open 2022 Filing

Operations Trend

Revenue Growth41st percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2011: $467,047Expenses 2011: $503,974Net Income 2011: -$36,9272011Revenue 2012: $467,062Expenses 2012: $450,579Net Income 2012: $16,4832012Revenue 2013: $493,757Expenses 2013: $416,189Net Income 2013: $77,5682013Revenue 2014: $471,572Expenses 2014: $453,010Net Income 2014: $18,5622014Revenue 2015: $467,625Expenses 2015: $462,917Net Income 2015: $4,7082015Revenue 2016: $494,253Expenses 2016: $541,710Net Income 2016: -$47,4572016Revenue 2017: $476,709Expenses 2017: $537,535Net Income 2017: -$60,8262017Revenue 2018: $438,352Expenses 2018: $513,039Net Income 2018: -$74,6872018Revenue 2019: $453,347Expenses 2019: $479,518Net Income 2019: -$26,1712019Revenue 2020: $400,016Expenses 2020: $395,660Net Income 2020: $4,3562020Revenue 2021: $364,390Expenses 2021: $338,939Net Income 2021: $25,4512021Revenue 2022: $377,677Expenses 2022: $345,410Net Income 2022: $32,2672022Revenue 2023: $436,996Expenses 2023: $445,932Net Income 2023: -$8,9362023Revenue 2024: $448,468Expenses 2024: $454,888Net Income 2024: -$6,4202024

Highlighted filing

2022

Revenue$377,677
Expenses$345,410
Net Income$32,267
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2021 to Sep 30, 2022
Signed
Jan 24, 2023
Return Version
2021v4.2
Gross Receipts
$377,677
Mission and Program Overview

Mission

Empower the Outer Banks business community by promoting and developing economic prosperity.

Empower the Outer Banks business community by promoting and developing economic prosperity

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$365,438$289,769▼ $75,669
Land, Buildings, and Equipment, Net$96,903$84,776▼ $12,127
Savings and Temporary Cash Investments$56,964$20,851▼ $36,113
Prepaid Expenses and Deferred Charges$14,671$3,991▼ $10,680
Pledges and Grants Receivable$2,886$1,300▼ $1,586
Total Assets$536,862$400,687▼ $136,175
Liabilities
Deferred Revenue$169,612$133,732▼ $35,880
Accounts Payable and Accrued Expenses$12,645$33,069▲ $20,424
Mortgage Notes Payable Secured by Investment Property$160,309$7,323▼ $152,986
Total Liabilities$342,566$174,124▼ $168,442
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$194,296$226,563▲ $32,267
Total Net Assets Fund Balance$194,296$226,563▲ $32,267
Total Liabilities and Net Assets / Fund Balance$536,862$400,687▼ $136,175

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$78,597$330,867-
Other Land Buildings-$7,183-
Equipment$6,179$98,503-
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Karen BrownPresidentFT$106,846$106,846

Board Members and Trustees

NameTitle
Josh StubblefieldChair Elect
Myra Ladd-boneChairman
Richard HessPast Chair
Jim GilreathVice Chair
Larry WarnerVice Chair
Lynne MilesVice Chair
Thomas BruceVice Chair
Amy SmithTrustee
Bambos CharalambousTrustee
Bob PeeleTrustee
Caroline BasnightTrustee
Larry BarkerTrustee
Laura ErtleTrustee
Laurel HartTrustee
Melissa HarrisonTrustee
Nick GrahamTrustee
Robert DefazioTrustee
Scott DemasseTrustee
Susan YanTrustee
Tess JudgeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$291,626
Program Service Revenue
$85,941
Investment Income
$110
Other Revenue
$0
Change in Net Assets
$32,267
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$227,671
Other Expenses$117,739
Total Fundraising Expense$64,896
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$78,594-$19,274$97,868
Current Officers, Directors, Trustees, and Key Employees-$89,946-$89,946
Other Employee Benefits$11,479$9,840$2,108$23,427
Office Expenses-$18,835-$18,835
Payroll Taxes$8,051$6,901$1,478$16,430
Occupancy-$14,074-$14,074
Depreciation Depletion$3,619$6,167$2,341$12,127
Interest-$9,622-$9,622
Other Expenses$1,388$15,045$39,695$1,388
Travel-$1,273-$1,273
Fees for Services Accounting-$1,200-$1,200
Total Functional Expenses$103,131$177,383$64,896$345,410
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Raffle$38,119$38,119$16,531$21,588
Auction$26,409$26,409$14,965$11,444
Total Events$82,798$82,798$39,695$43,103
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI Line 11B

“Executive Director Reviews Tax Return before Filing”

Part VI Line 11B

“and distributes draft copy to board for review.”

Part VI Line 19

“All documents, policies and financial statements are”

Part VI Line 19

“available upon request.”

Filing and Contact Details

Filer

Filer Name
Outer Banks Chamber of Commerce Inc
EIN
56-0899110
In Care Of
% Karen Brown
Phone
2524418144
Address
PO Box 1757, Kill Devil Hills, NC 27948

Signing Officer

Name
Karen Brown
Title
president
Phone
2524418144
Signed
2023-01-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Karen Brown
Formed
1967
Legal Domicile
Nc
Voting Board Members
21
Independent Board Members
20
Employees
4

Preparer

Firm
Arthur E Cone CPA MBA PLLC
Address
103 E Mall Dr 8, Nags Head, NC 27959
Preparer
Arthur E Cone
Phone
2524803898
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IRS990/IndependentAuditFinclStmtInd0false
IRS990/IndependentVotingMemberCnt020
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InterestGrp/ManagementAndGeneralAmt09622
IRS990/InterestGrp/TotalAmt09622
IRS990/InvestmentIncomeGrp/ExclusionAmt0110
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0110
IRS990/InvestmentInJointVentureInd0false
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0436553
IRS990/LandBldgEquipBasisNetGrp/BOYAmt096903
IRS990/LandBldgEquipBasisNetGrp/EOYAmt084776
IRS990/LandBldgEquipCostOrOtherBssAmt0521329
IRS990/LegalDomicileStateCd0NC
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembershipDuesAmt0208828
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0Empower the Outer Banks business community by promoting and developing economic prosperity.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt0160309
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt07323
IRS990/NetAssetsOrFundBalancesBOYAmt0194296
IRS990/NetAssetsOrFundBalancesEOYAmt0226563
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0194296
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0226563
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt014074
IRS990/OccupancyGrp/TotalAmt014074
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt018835
IRS990/OfficeExpensesGrp/TotalAmt018835
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt02108
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt09840
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt011479
IRS990/OtherEmployeeBenefitsGrp/TotalAmt023427
IRS990/OtherExpensesGrp/Desc0Fundraising expenses
IRS990/OtherExpensesGrp/Desc1Bank Fees
IRS990/OtherExpensesGrp/Desc2IT and Web
IRS990/OtherExpensesGrp/Desc3Program expense
IRS990/OtherExpensesGrp/FundraisingAmt039695
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt04480
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt115045
IRS990/OtherExpensesGrp/ProgramServicesAmt01388
IRS990/OtherExpensesGrp/TotalAmt039695
IRS990/OtherExpensesGrp/TotalAmt14480
IRS990/OtherExpensesGrp/TotalAmt215045
IRS990/OtherExpensesGrp/TotalAmt31388
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt019274
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt078594
IRS990/OtherSalariesAndWagesGrp/TotalAmt097868
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt01478
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt06901
IRS990/PayrollTaxesGrp/ProgramServicesAmt08051
IRS990/PayrollTaxesGrp/TotalAmt016430
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt02886
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt01300
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt014671
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt03991
IRS990/PrincipalOfficerNm0KAREN BROWN
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0Unrelated Bus Inc
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt050481
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt050481
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0342280
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0185
IRS990/PYOtherExpensesAmt0145380
IRS990/PYOtherRevenueAmt0-27850
IRS990/PYProgramServiceRevenueAmt049775
IRS990/PYRevenuesLessExpensesAmt025451
IRS990/PYSalariesCompEmpBnftPaidAmt0193559
IRS990/PYTotalExpensesAmt0338939
IRS990/PYTotalRevenueAmt0364390
IRS990/ReconcilationRevenueExpnssAmt032267
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt056964
IRS990/SavingsAndTempCashInvstGrp/EOYAmt020851
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/AgentTrusteeEtcInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt078597
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0330867
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt0409464
IRS990ScheduleD/DisclosedForCharitablePrpsInd0false
IRS990ScheduleD/DisclosedOrgLegCtrlInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt06179
IRS990ScheduleD/EquipmentGrp/DepreciationAmt098503
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt0104682
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt07183
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt07183
IRS990ScheduleD/Section170hRqrStsfdInd0false
IRS990ScheduleD/SolicitedAssetsSaleInd0false
IRS990ScheduleD/TotalBookValueLandBuildingsAmt084776
IRS990ScheduleD/WrittenPolicyMonitoringInd0false
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt039695
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0Raffle
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0Auction
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt038119
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt026409
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsOtherEventsAmt018270
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt082798
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt038119
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt026409
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueOtherEventsAmt018270
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt082798
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt043103
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssOtherEventsAmt08199
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt039695
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt016531
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt014965
IRS990ScheduleG/FundraisingEventInformationGrp/OtherEventsTotalCnt02
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Executive Director Reviews Tax Return before Filing
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1and distributes draft copy to board for review.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2All documents, policies and financial statements are
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3available upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Part VI Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Part VI Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Part VI Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Part VI Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0536862
IRS990/TotalAssetsEOYAmt0400687
IRS990/TotalAssetsGrp/BOYAmt0536862
IRS990/TotalAssetsGrp/EOYAmt0400687
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0291626
IRS990/TotalEmployeeCnt04

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$400,687
Liabilities
$174,124
Net assets
$226,563
Revenue
$377,677
Expenses
$345,410
Net income
$32,267
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.34$1.39$1.95$4.48$4.55$0.06
2023Summary only. Only limited summary data is available for this year.$3.54$1.53$2.01$4.37$4.46$0.09
2022Detailed filing. Detailed filing data is available for this year.$4.01$1.74$2.27$3.78$3.45$0.32
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.37$3.43$1.94$3.64$3.39$0.25
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.32$3.27$1.05$4.00$3.96$0.04
2019Summary only. Only limited summary data is available for this year.$2.84$1.84$1.01$4.53$4.80$0.26
2018Summary only. Only limited summary data is available for this year.$3.03$1.76$1.27$4.38$5.13$0.75
2017Summary only. Only limited summary data is available for this year.$3.90$1.89$2.02$4.77$5.38$0.61
2016Summary only. Only limited summary data is available for this year.$4.62$2.00$2.62$4.94$5.42$0.47
2015Summary only. Only limited summary data is available for this year.$5.28$2.18$3.10$4.68$4.63$0.05
2014Summary only. Only limited summary data is available for this year.$5.21$2.16$3.05$4.72$4.53$0.19
2013Summary only. Only limited summary data is available for this year.$4.96$2.10$2.87$4.94$4.16$0.78
2012Summary only. Only limited summary data is available for this year.$4.55$2.46$2.09$4.67$4.51$0.16
2011Summary only. Only limited summary data is available for this year.$4.60$2.68$1.93$4.67$5.04$0.37