Civic Intelligence

Franklin Area Chamber of Commerce Inc

990 • Fiscal year 2020 • EIN 56-0902302

Jan 01, 2020 to Dec 31, 2020 • Filed on May 11, 2021

Organization Profile
98 Hyatt RoadFranklin, NC 28734

(828) 524-3161

Siviq Scores

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

Liabilities / Assets

66th percentile

0.20x

Higher debt load relative to assets than 66% of similar nonprofits.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

74th percentile

0.31x

Higher debt load relative to revenue than 74% of similar nonprofits.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2020

Net Margin

86th percentile

26%

Higher net margin than 86% of similar nonprofits.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

50th percentile

$52,749

Higher top officer pay than 50% of similar nonprofits.

Top officer pay equals 9.1% of source-year revenue.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2020

Asset Growth

75th percentile

19%

Faster asset growth than 75% of similar nonprofits.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

84th percentile

10%

Faster revenue growth than 84% of similar nonprofits.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets66th percentile

Assets

Up

$890,096

Up $141,420 (+19%) from 2019

Net Assets

Up

$711,316

Up $149,983 (+27%) from 2019

Liabilities

Down

$178,780

Down $8,563 (-4.6%) from 2019

Revenue And Expenses
Liabilities / Revenue74th percentileNet Margin86th percentile

Revenue

Up

$578,629

Up $53,067 (+10%) from 2019

Expenses

Down

$428,646

Down $7,472 (-1.7%) from 2019

Net Income

Up

$149,983

Up $60,539 (+68%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth75th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2011: $280,775Liabilities 2011: $4,096Net Assets 2011: $276,6792011Assets 2012: $298,157Liabilities 2012: $1,121Net Assets 2012: $297,0362012Assets 2013: $329,953Liabilities 2013: $1,133Net Assets 2013: $328,8202013Assets 2014: $342,417Liabilities 2014: $2,693Net Assets 2014: $339,7242014Assets 2015: $378,372Liabilities 2015: $2,583Net Assets 2015: $375,7892015Assets 2016: $400,656Liabilities 2016: $1,999Net Assets 2016: $398,6572016Assets 2017: $610,644Liabilities 2017: $197,823Net Assets 2017: $412,8212017Assets 2018: $668,307Liabilities 2018: $196,418Net Assets 2018: $471,8892018Assets 2019: $748,676Liabilities 2019: $187,343Net Assets 2019: $561,3332019Assets 2020: $890,096Liabilities 2020: $178,780Net Assets 2020: $711,3162020Assets 2021: $1,210,744Liabilities 2021: $169,097Net Assets 2021: $1,041,6472021Assets 2022: $1,457,874Liabilities 2022: $163,646Net Assets 2022: $1,294,2282022Assets 2023: $1,754,524Liabilities 2023: $152,929Net Assets 2023: $1,601,5952023Assets 2024: $1,794,667Liabilities 2024: $143,082Net Assets 2024: $1,651,5852024

Highlighted filing

2020

Assets$890,096
Liabilities$178,780
Net Assets$711,316
Open 2020 Filing

Operations Trend

Revenue Growth84th percentile

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

$1.0M$500K$0Revenue 2011: $304,507Expenses 2011: $283,270Net Income 2011: $21,2372011Revenue 2012: $350,208Expenses 2012: $329,851Net Income 2012: $20,3572012Revenue 2013: $330,829Expenses 2013: $299,045Net Income 2013: $31,7842013Revenue 2014: $329,084Expenses 2014: $318,180Net Income 2014: $10,9042014Revenue 2015: $366,926Expenses 2015: $330,861Net Income 2015: $36,0652015Revenue 2016: $405,175Expenses 2016: $382,307Net Income 2016: $22,8682016Revenue 2017: $481,731Expenses 2017: $465,087Net Income 2017: $16,6442017Revenue 2018: $468,920Expenses 2018: $409,852Net Income 2018: $59,0682018Revenue 2019: $525,562Expenses 2019: $436,118Net Income 2019: $89,4442019Revenue 2020: $578,629Expenses 2020: $428,646Net Income 2020: $149,9832020Revenue 2021: $761,527Expenses 2021: $431,196Net Income 2021: $330,3312021Revenue 2022: $800,131Expenses 2022: $547,550Net Income 2022: $252,5812022Revenue 2023: $972,151Expenses 2023: $664,784Net Income 2023: $307,3672023Revenue 2024: $904,971Expenses 2024: $854,981Net Income 2024: $49,9902024

Highlighted filing

2020

Revenue$578,629
Expenses$428,646
Net Income$149,983
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
May 11, 2021
Return Version
2020v4.1
Gross Receipts
$597,573
Mission and Program Overview

Mission

AREA CHAMBER OF COMMERCE

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$561,333$711,316▲ $149,983
Cash and Non-Interest-Bearing Accounts$283,640$415,333▲ $131,693
Accounts Receivable$314,649$326,939▲ $12,290
Land, Buildings, and Equipment, Net$150,387$147,824▼ $2,563
Total Assets$748,676$890,096▲ $141,420
Liabilities
Mortgage Notes Payable Secured by Investment Property$176,146$167,746▼ $8,400
Unsecured Notes Loans Payable$7,224$7,224→ $0
Accounts Payable and Accrued Expenses$3,973$3,810▼ $163
Total Liabilities$187,343$178,780▼ $8,563
Net Assets / Fund Balance
Total Net Assets Fund Balance$561,333$711,316▲ $149,983
Total Liabilities and Net Assets / Fund Balance$748,676$890,096▲ $141,420

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$89,827$10,145$99,972
Land$57,997-$57,997
Equipment-$40,560$40,560
Compensation and Service Providers
Top Officer Pay50th percentile

Employees

NameTitleBaseTotal
Linda C HarbuckExecutive Director$52,749$52,749
Martha D BaldwinAmdinistrative Asst$41,602$41,602
Cynthia L CavendarMarketing Director$39,745$39,745
Susan R SchlatterReceptionist$6,516$6,516
Carol a OlsonReceptionist$2,781$2,781
Revenue and Support

Revenue Composition

Contributions and Grants
$143,935
Program Service Revenue
$393,579
Investment Income
$42
Other Revenue
$41,073
All Other Contributions
$56,700
Change in Net Assets
$149,983
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$273,737
Salaries, Compensation, and Employee Benefits$154,909
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising$119,930$1,185-$121,115
Other Salaries and Wages-$90,644-$90,644
Current Officers, Directors, Trustees, and Key Employees-$52,749-$52,749
Insurance-$32,652-$32,652
All Other Expenses$31,186$699-$31,885
Other Expenses$7,950$15,986-$23,936
Occupancy-$21,137-$21,137
Office Expenses$5,957$11,692-$17,649
Payroll Taxes-$11,516-$11,516
Interest-$4,846-$4,846
Fees for Services Legal-$4,824-$4,824
Conferences and Meetings$1,758$1,145-$2,903
Depreciation Depletion-$2,563-$2,563
Travel$877$1,086-$1,963
Fees for Services Accounting-$1,541-$1,541
Total Functional Expenses$167,658$260,988$0$428,646
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$10,902
Fundraising Direct Expenses$4,582
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Members or stockholder classes and rights Part VI line 6

“Members pay annual dues to be a member.”

Member election for additional members Part VI line 7A

“Members vote on board members annually.”

Form 990 governing body review Part VI line 11

“Board reviews the form 990 before filing. No review was conducted. No review was conducted”

Governing documents etc available to public Part VI line 19

“Abc no documents available”

Filing and Contact Details

Filer

Filer Name
Franklin Area Chamber of Commerce
EIN
56-0902302
Address
98 HYATT ROAD, FRANKLIN, NC 28734

Signing Officer

Name
Linda C Harbuck
Title
Executive Direc
Phone
8285243161
Signed
2021-05-11
Discuss with paid preparer
Yes

Organization Details

Formed
1969
Legal Domicile
Nc
Voting Board Members
15
Independent Board Members
0
Employees
5

Preparer

Firm
J Braxton Freeman CPA PA
Address
12 Maple Street, Franklin, NC 28734
Preparer
J Braxton Freeman CPA
Phone
8285247648
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

“Adj to accumulated depreciation for property sold”

List of other expenses Part IX line 24E

“Grants-36451staff development-646projects/ se support-4000public relations-389dues and subscriptions-1144”

Raw XML Appendix348 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MEMBERS PAY ANNUAL DUES TO BE A MEMBER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS VOTE ON BOARD MEMBERS ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BOARD REVIEWS THE FORM 990 BEFORE FILING. NO REVIEW WAS CONDUCTED. NO REVIEW WAS CONDUCTED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ABC NO DOCUMENTS AVAILABLE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ADJ TO ACCUMULATED DEPRECIATION FOR PROPERTY SOLD
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Members or stockholder classes and rights Part VI line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Member election for additional members Part VI line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Explanation of other changes in net assets or fund balances Part XI line 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5List of other expenses Part IX line 24e
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0J Braxton Freeman CPA PA
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ReturnHeader/PreparerPersonGrp/PreparationDt02021-05-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0J BRAXTON FREEMAN CPA
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ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$890,096
Liabilities
$178,780
Net assets
$711,316
Revenue
$578,629
Expenses
$428,646
Net income
$149,983
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.79$0.14$1.65$0.90$0.85$0.05
2023Detailed filing. Detailed filing data is available for this year.$1.75$0.15$1.60$0.97$0.66$0.31
2022Detailed filing. Detailed filing data is available for this year.$1.46$0.16$1.29$0.80$0.55$0.25
2021Detailed filing. Detailed filing data is available for this year.$1.21$0.17$1.04$0.76$0.43$0.33
2020Detailed filing. Detailed filing data is available for this year.$0.89$0.18$0.71$0.58$0.43$0.15
2019Summary only. Only limited summary data is available for this year.$0.75$0.19$0.56$0.53$0.44$0.09
2018Summary only. Only limited summary data is available for this year.$0.67$0.20$0.47$0.47$0.41$0.06
2017Summary only. Only limited summary data is available for this year.$0.61$0.20$0.41$0.48$0.47$0.02
2016Summary only. Only limited summary data is available for this year.$0.40$0.00$0.40$0.41$0.38$0.02
2015Summary only. Only limited summary data is available for this year.$0.38$0.00$0.38$0.37$0.33$0.04
2014Summary only. Only limited summary data is available for this year.$0.34$0.00$0.34$0.33$0.32$0.01
2013Summary only. Only limited summary data is available for this year.$0.33$0.00$0.33$0.33$0.30$0.03
2012Summary only. Only limited summary data is available for this year.$0.30$0.00$0.30$0.35$0.33$0.02
2011Summary only. Only limited summary data is available for this year.$0.28$0.00$0.28$0.30$0.28$0.02