Civic Intelligence

Pleasure Island Chamber of Commerce

EIN 56-1075795 • 501(c)6 • Carolina Beach, NC

Profile

See Schedule O - General explanation attachment

1121 N Lake Park BlvdCarolina Beach, NC 28428

www.pleasureislandchambernc.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

87th percentile

0.35x

Higher debt load relative to assets than 87% of similar nonprofits.

501(c)6 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

86th percentile

0.24x

Higher debt load relative to revenue than 86% of similar nonprofits.

501(c)6 • <$500k nonprofits • Source year 2023

Net Margin

64th percentile

7.6%

Higher net margin than 64% of similar nonprofits.

501(c)6 • <$500k nonprofits • Source year 2023

Top Officer Pay

88th percentile

$45,240

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 16.9% of source-year revenue.

501(c)6 • <$500k nonprofits • Source year 2023

Asset Growth

73rd percentile

13%

Faster asset growth than 73% of similar nonprofits.

501(c)6 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

71st percentile

13%

Faster revenue growth than 71% of similar nonprofits.

501(c)6 • <$500k nonprofits • Annualized from 2022 to 2023

Assets

Up

$181,167

Up $20,133 (+13%) from 2022

Liabilities

Down

$64,236

Down $204 (-0.3%) from 2022

Net Assets

Up

$116,931

Up $20,337 (+21%) from 2022

Revenue

Up

$267,125

Up $31,676 (+13%) from 2022

Expenses

Up

$246,788

Up $24,947 (+11%) from 2022

Net Income

Up

$20,337

Up $6,729 (+49%) from 2022

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$300K$200K$100K$0Assets 2011: $195,383Liabilities 2011: $28,294Net Assets 2011: $167,0892011Assets 2012: $257,437Liabilities 2012: $26,675Net Assets 2012: $230,7622012Assets 2013: $267,780Liabilities 2013: $30,872Net Assets 2013: $236,9082013Assets 2014: $284,680Liabilities 2014: $35,685Net Assets 2014: $248,9952014Assets 2015: $186,610Liabilities 2015: $37,212Net Assets 2015: $149,3982015Assets 2016: $181,043Liabilities 2016: $41,057Net Assets 2016: $139,9862016Assets 2017: $124,421Liabilities 2017: $11,510Net Assets 2017: $112,9112017Assets 2018: $182,884Liabilities 2018: $9,742Net Assets 2018: $173,1422018Assets 2019: $56,888Liabilities 2019: $4,041Net Assets 2019: $52,8472019Assets 2020: $67,195Liabilities 2020: $62,970Net Assets 2020: $4,2252020Assets 2021: $147,262Liabilities 2021: $64,276Net Assets 2021: $82,9862021Assets 2022: $161,034Liabilities 2022: $64,440Net Assets 2022: $96,5942022Assets 2023: $181,167Liabilities 2023: $64,236Net Assets 2023: $116,9312023

Highlighted filing

2023

Assets$181,167
Liabilities$64,236
Net Assets$116,931

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$600K$400K$200K$0-$200KExpenses 2011: $364,2282011Expenses 2012: $450,9382012Revenue 2013: $452,864Expenses 2013: $446,718Net Income 2013: $6,1462013Revenue 2014: $485,625Expenses 2014: $473,538Net Income 2014: $12,0872014Revenue 2015: $440,398Expenses 2015: $539,995Net Income 2015: -$99,5972015Revenue 2016: $343,091Expenses 2016: $352,503Net Income 2016: -$9,4122016Revenue 2017: $506,231Expenses 2017: $533,306Net Income 2017: -$27,0752017Revenue 2018: $371,165Expenses 2018: $301,192Net Income 2018: $69,9732018Revenue 2019: $350,800Expenses 2019: $327,305Net Income 2019: $23,4952019Revenue 2020: $86,623Expenses 2020: $138,387Net Income 2020: -$51,7642020Revenue 2021: $223,970Expenses 2021: $159,706Net Income 2021: $64,2642021Revenue 2022: $235,449Expenses 2022: $221,841Net Income 2022: $13,6082022Revenue 2023: $267,125Expenses 2023: $246,788Net Income 2023: $20,3372023

Highlighted filing

2023

Revenue$267,125
Expenses$246,788
Net Income$20,337

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 15, 2024
Return Version
2023v5.0
Gross Receipts
$267,125
Mission and Program Overview

Mission

Promote tourism to the area by: 1) prepare and distribute visitor guides, brochures and maintain web page; 2) overseeing special events to increase traffic to the area, such as yearly seafood, blues and jass festival, fireworks, in the park movie nights, chowder cookoff, summer concerts, beach music festival and other related activities

See Schedule O - General explanation attachment

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$155,160$171,872▲ $16,712
Accounts Receivable$5,874$9,295▲ $3,421
Total Assets$161,034$181,167▲ $20,133
Liabilities
Unsecured Notes Loans Payable$54,230$54,230→ $0
Accounts Payable and Accrued Expenses$10,210$10,006▼ $204
Total Liabilities$64,440$64,236▼ $204
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$96,594$116,931▲ $20,337
Total Net Assets Fund Balance$96,594$116,931▲ $20,337
Total Liabilities and Net Assets / Fund Balance$161,034$181,167▲ $20,133

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$22,398-
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
James DeGilioExecutive DirectorPT$45,240$45,240
Revenue and Support

Revenue Composition

Contributions and Grants
$154,879
Program Service Revenue
$112,246
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$20,337
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$141,756
Salaries, Compensation, and Employee Benefits$105,032
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$104,385--$104,385
Other Salaries and Wages$47,567--$47,567
Current Officers, Directors, Trustees, and Key Employees$45,240--$45,240
Office Expenses$19,752--$19,752
Payroll Taxes$7,229--$7,229
Fees for Services Accounting$2,615$2,614-$5,229
Other Employee Benefits$4,996--$4,996
Advertising$4,287--$4,287
Conferences and Meetings$1,032--$1,032
Interest$940--$940
Insurance$854--$854
Travel$163--$163
Other Expenses$152--$152
Total Functional Expenses$244,174$2,614$0$246,788
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
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
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
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

Form 990 governing body review Part VI line 11

All officers and board members are provided a copy of the Form 990 for review and consent before filing.

Conflict of interest policy compliance Part VI line 12C

Each director, officer or member of a committee is required to sign a statement prior to commencement of his or her employment or term of office and each is required to provide an updated annual signed statement.

CEO executive director top management comp Part VI line 15A

An executive committee comprised of part of the board of directors meets annually to discuss, research, and approve the subsequent years compensation for the CEO, executive director and top management.

Other officer or key employee compensation Part VI line 15B

An executive committee comprised of part of the board of directors meets annually to discuss, research, and approve the subsequent years compensation for other officers or key employee compensation.

Governing documents etc available to public Part VI line 19

All governing documents, policies, and financial statements are available by personal visit to the organizations office.

Filing and Contact Details

Filer

Filer Name
Pleasure Island Chamber of Commerce
EIN
56-1075795
Address
1121 N Lake Park Blvd, Carolina Beach, NC 28428

Signing Officer

Name
James DeGilio
Title
Executive Direc
Phone
9104588434
Signed
2024-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James DeGilio President
Formed
1973
Legal Domicile
Nc
Voting Board Members
14
Independent Board Members
14
Employees
3

Preparer

Firm
Noble Accounting Group of NC LLC
Address
344 Shipyard Blvd, Wilmington, NC 28412
Preparer
Kimberly Lynds EA
Phone
9103997889
Supplemental Narrative

Additional Explanations

List of other fees for services expenses Part IX line 11G

Program Service Expense Annual dinner $ 1,058 Beach Music Festival - Facilities $ 1,783 - Entertainment $ 16,679 - Advertising costs $ 8,048 - Tickets $ 9,637 - Merchandise $ 4,618 - Security $ 1,530 - Insurance $ 577 - Other venue costs $ 406 Centennial - Merchandise $ 761 Kite Festival - Advertising $ 3,857 - Entertainment $ 11,497 - Travel & lodging $ 3,276 - Transportation $ 7,204 - Insurance $ 905 - Banquet $ 3,608 - Facilities $ 4,836 - Merchandise $ 4,169 - Supplies $ 2,798 - Parking $ 1,110 - Other venue costs $ 195Pets in the Park - Advertising $ 1,291 - Insurance $ 283 - Entertainment $ 650 - Supplies $ 309 - Security $ 360 - Photographer $ 250 - Other venue costs $ 264 Summer Concert Series - Entertainment $ 12,000 - Insurance $ 300 - Other venue costs $ 126 Total Program Service Expense $104,385

Part III response or note to any other line in Part III

1) Line 4a - Beach Music Festival2) Line 4b - Kite Festival3) Line 4c - Summer Concert Series4) Line 4d - All other educational programs, events, and representation in the community to promote tourism and other benefits to local businesses

General explanation attachment

The Pleasure Island Chamber of Commerce serves as a business advocacy organization that focuses on enhancing the commmunity by way of education, events and representation. These include educational seminars for our members, events that bring tourism to our community, and representation in the community.The Pleasure Island Chamber of Commerce has, and will plan to continue to, host seminars for our members and events for the community. The events include a kite festival on the beach, a pet-focused event at the lake, and more. Our educational seminars and networking events are aimed at providing our members with knowledge that may benefit their businesses and take place at various businesses on Pleasure Island.

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IRS990/PrincipalOfficerNm0James DeGilio President
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IRS990/ProgramServiceRevenueGrp/Desc0Beach Music Festival
IRS990/ProgramServiceRevenueGrp/Desc1Kite Festival
IRS990/ProgramServiceRevenueGrp/Desc2Pets in the Park
IRS990/ProgramServiceRevenueGrp/Desc3Carolina Beach Centenni
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IRS990/ProgSrvcAccomActy2Grp/Desc0Kite Festival
IRS990/ProgSrvcAccomActy3Grp/Desc0Music Beach Festival
IRS990/ProgSrvcAccomActyOtherGrp/Desc0All other educational programs, events, and representation in the community to promote tourism and other benefits to local businesses.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0All officers and board members are provided a copy of the Form 990 for review and consent before filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Each director, officer or member of a committee is required to sign a statement prior to commencement of his or her employment or term of office and each is required to provide an updated annual signed statement.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2An executive committee comprised of part of the board of directors meets annually to discuss, research, and approve the subsequent years compensation for the CEO, executive director and top management.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3An executive committee comprised of part of the board of directors meets annually to discuss, research, and approve the subsequent years compensation for other officers or key employee compensation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4All governing documents, policies, and financial statements are available by personal visit to the organizations office.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Program Service Expense Annual dinner $ 1,058 Beach Music Festival - Facilities $ 1,783 - Entertainment $ 16,679 - Advertising costs $ 8,048 - Tickets $ 9,637 - Merchandise $ 4,618 - Security $ 1,530 - Insurance $ 577 - Other venue costs $ 406 Centennial - Merchandise $ 761 Kite Festival - Advertising $ 3,857 - Entertainment $ 11,497 - Travel & lodging $ 3,276 - Transportation $ 7,204 - Insurance $ 905 - Banquet $ 3,608 - Facilities $ 4,836 - Merchandise $ 4,169 - Supplies $ 2,798 - Parking $ 1,110 - Other venue costs $ 195Pets in the Park - Advertising $ 1,291 - Insurance $ 283 - Entertainment $ 650 - Supplies $ 309 - Security $ 360 - Photographer $ 250 - Other venue costs $ 264 Summer Concert Series - Entertainment $ 12,000 - Insurance $ 300 - Other venue costs $ 126 Total Program Service Expense $104,385
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt61) Line 4a - Beach Music Festival2) Line 4b - Kite Festival3) Line 4c - Summer Concert Series4) Line 4d - All other educational programs, events, and representation in the community to promote tourism and other benefits to local businesses
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7The Pleasure Island Chamber of Commerce serves as a business advocacy organization that focuses on enhancing the commmunity by way of education, events and representation. These include educational seminars for our members, events that bring tourism to our community, and representation in the community.The Pleasure Island Chamber of Commerce has, and will plan to continue to, host seminars for our members and events for the community. The events include a kite festival on the beach, a pet-focused event at the lake, and more. Our educational seminars and networking events are aimed at providing our members with knowledge that may benefit their businesses and take place at various businesses on Pleasure Island.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5List of other fees for services expenses Part IX line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Part III response or note to any other line in Part III
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7General explanation attachment
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