Civic Intelligence

Wake Forest Area Chamber of Commerce

990 • Fiscal year 2016 • EIN 56-1122169

Jul 01, 2015 to Jun 30, 2016 • Filed on Feb 07, 2017

Organization ProfileWWW.WAKEFORESTCHAMBER.ORG
350 S White StreetWake Forest, NC 27587

(919) 556-1519

Siviq Scores

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

Liabilities / Assets

63rd percentile

0.18x

Higher debt load relative to assets than 63% of similar nonprofits.

2016 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

67th percentile

0.19x

Higher debt load relative to revenue than 67% of similar nonprofits.

2016 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2016

Net Margin

56th percentile

5.3%

Higher net margin than 56% of similar nonprofits.

2016 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

38th percentile

$0

Higher top officer pay than 38% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2016 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2016

Asset Growth

32nd percentile

-1.8%

Faster asset growth than 32% of similar nonprofits.

2016 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Revenue Growth

92nd percentile

35%

Faster revenue growth than 92% of similar nonprofits.

2016 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets63rd percentile

Assets

Down

$475,525

Down $8,807 (-1.8%) from 2015

Net Assets

Up

$391,460

Up $23,303 (+6.3%) from 2015

Liabilities

Down

$84,065

Down $32,110 (-28%) from 2015

Revenue And Expenses
Liabilities / Revenue67th percentileNet Margin56th percentile

Revenue

Up

$441,791

Up $114,159 (+35%) from 2015

Expenses

Up

$418,488

Up $71,258 (+21%) from 2015

Net Income

Up

$23,303

Up $42,901 (+219%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth32nd percentile

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

$1.0M$500K$0Assets 2011: $421,609Liabilities 2011: $111,131Net Assets 2011: $310,4782011Assets 2012: $402,466Liabilities 2012: $64,216Net Assets 2012: $338,2502012Assets 2013: $565,425Liabilities 2013: $237,819Net Assets 2013: $327,6062013Assets 2014: $510,378Liabilities 2014: $122,623Net Assets 2014: $387,7552014Assets 2015: $484,332Liabilities 2015: $116,175Net Assets 2015: $368,1572015Assets 2016: $475,525Liabilities 2016: $84,065Net Assets 2016: $391,4602016Assets 2017: $451,767Liabilities 2017: $48,013Net Assets 2017: $403,7542017Assets 2018: $490,620Liabilities 2018: $3,006Net Assets 2018: $487,6142018Assets 2019: $491,626Liabilities 2019: $14,845Net Assets 2019: $476,7812019Assets 2020: $563,443Liabilities 2020: $158,987Net Assets 2020: $404,4562020Assets 2021: $494,559Liabilities 2021: $7,132Net Assets 2021: $487,4272021Assets 2022: $565,817Liabilities 2022: $391Net Assets 2022: $565,4262022Assets 2023: $641,472Liabilities 2023: $12,032Net Assets 2023: $629,4402023Assets 2024: $773,160Liabilities 2024: $2,251Net Assets 2024: $770,9092024Assets 2025: $802,087Liabilities 2025: $20,450Net Assets 2025: $781,6372025

Highlighted filing

2016

Assets$475,525
Liabilities$84,065
Net Assets$391,460
Open 2016 Filing

Operations Trend

Revenue Growth92nd percentile

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

$600K$400K$200K$0-$200KRevenue 2011: $322,394Expenses 2011: $315,228Net Income 2011: $7,1662011Revenue 2012: $357,803Expenses 2012: $330,031Net Income 2012: $27,7722012Revenue 2013: $342,960Expenses 2013: $353,604Net Income 2013: -$10,6442013Revenue 2014: $365,094Expenses 2014: $304,945Net Income 2014: $60,1492014Revenue 2015: $327,632Expenses 2015: $347,230Net Income 2015: -$19,5982015Revenue 2016: $441,791Expenses 2016: $418,488Net Income 2016: $23,3032016Revenue 2017: $456,775Expenses 2017: $444,481Net Income 2017: $12,2942017Revenue 2018: $534,042Expenses 2018: $450,182Net Income 2018: $83,8602018Revenue 2019: $505,447Expenses 2019: $516,280Net Income 2019: -$10,8332019Revenue 2020: $475,246Expenses 2020: $547,571Net Income 2020: -$72,3252020Revenue 2021: $494,682Expenses 2021: $411,711Net Income 2021: $82,9712021Revenue 2022: $514,574Expenses 2022: $439,866Net Income 2022: $74,7082022Revenue 2023: $517,284Expenses 2023: $453,270Net Income 2023: $64,0142023Revenue 2024: $545,798Expenses 2024: $404,329Net Income 2024: $141,4692024Revenue 2025: $500,456Expenses 2025: $489,729Net Income 2025: $10,7272025

Highlighted filing

2016

Revenue$441,791
Expenses$418,488
Net Income$23,303
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Feb 7, 2017
Return Version
2015v3.0
Gross Receipts
$686,658
Mission and Program Overview

Mission

To unite the business efforts and promote economic development in the wake forest, nc area toward the betterment of the community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$368,157$391,460▲ $23,303
Land, Buildings, and Equipment, Net$264,786$253,646▼ $11,140
Savings and Temporary Cash Investments$152,556$128,107▼ $24,449
Cash and Non-Interest-Bearing Accounts$17,223$45,163▲ $27,940
Accounts Receivable$41,737$32,118▼ $9,619
Prepaid Expenses and Deferred Charges$6,258$14,961▲ $8,703
Intangible Assets$1,772$1,530▼ $242
Total Assets$484,332$475,525▼ $8,807
Liabilities
Deferred Revenue$61,915$36,358▼ $25,557
Other Liabilities$49,953$34,431▼ $15,522
Accounts Payable and Accrued Expenses$4,307$13,276▲ $8,969
Total Liabilities$116,175$84,065▼ $32,110
Net Assets / Fund Balance
Total Net Assets Fund Balance$368,157$391,460▲ $23,303
Total Liabilities and Net Assets / Fund Balance$484,332$475,525▼ $8,807

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$350,032-$350,032
Land$135,138-$135,138
Equipment$-231,524$231,524-
Compensation and Service Providers
Top Officer Pay38th percentile

Board Members and Trustees

NameTitle
Cathy EsopChair
Ryan HutchinsonPast Chairma
Bill HarrisonDirector
Cindy HammondDirector
Don BowmanDirector
Jennifer RayDirector
Jodi DarrohnDirector
Mike OlsonDirector
Mike PerryDirector
Robert ReasonerDirector
Ron LancasterDirector
Rondi FurgasonDirector
Seth AsbillDirector
Terence EverittDirector
Jeff WilliamsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$325,558
Investment Income
$84
Other Revenue
$116,149
Change in Net Assets
$23,303
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$240,938
Other Expenses$177,550
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$218,893
All Other Expenses---$32,797
Occupancy---$29,588
Payroll Taxes---$18,225
Fees for Services Accounting---$15,196
Insurance---$11,762
Other Expenses---$11,249
Travel---$3,902
Other Employee Benefits---$3,820
Interest---$57
Total Functional Expenses$0$0$0$418,488
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$327,210
Fundraising Direct Expenses$227,167
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Economic Develo$68,754$68,754$86,671$-17,917
Meet in the Str$56,350$56,350$22,655$33,695
Total Events$318,253$318,253$219,453$98,800
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Long Term Note Payable$34,431
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
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

Form 990, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Wake Forest Area Chamber of
EIN
56-1122169
Phone
9195561519
Address
350 S WHITE STREET, WAKE FOREST, NC 27587

Signing Officer

Name
Jeff Williams
Title
Treasurer
Phone
9195561519
Signed
2017-02-07

Organization Details

Principal Officer
Cathy Esop
Voting Board Members
15
Independent Board Members
0
Employees
8

Preparer

Firm
Mitchell & Nemitz Pa
Address
12324 HAMPTON WAY DR STE 201, WAKE FOREST, NC 27587-6543
Preparer
Robert H Mitchell Jr CPA
Phone
9195569500
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“To unite the business efforts and promote economic development in the wake forest, nc area toward the betterment of the community.”

Form 990, Part XI, Line 9

“Book / tax depreciation difference 5,286 total 5,286”

Raw XML Appendix366 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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IRS990/SavingsAndTempCashInvstGrp/BOYAmt0152556
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0128107
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt0-231524
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0231524
IRS990ScheduleD/LandGrp/BookValueAmt0135138
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0135138
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0350032
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0350032
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt034431
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0LONG TERM NOTE PAYABLE
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0253646
IRS990ScheduleD/TotalLiabilityAmt034431
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt0219453
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0ECONOMIC DEVELO
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0MEET IN THE STR
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt068754
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt056350
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsOtherEventsAmt0193149
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0318253
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt068754
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt056350
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueOtherEventsAmt0193149
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt0318253
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt098800
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssOtherEventsAmt0110127
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt0219453
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt086671
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt022655
IRS990ScheduleG/FundraisingEventInformationGrp/OtherEventsTotalCnt07
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO UNITE THE BUSINESS EFFORTS AND PROMOTE ECONOMIC DEVELOPMENT IN THE WAKE FOREST, NC AREA TOWARD THE BETTERMENT OF THE COMMUNITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOOK / TAX DEPRECIATION DIFFERENCE 5,286 TOTAL 5,286
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NC
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0484332
IRS990/TotalAssetsEOYAmt0475525
IRS990/TotalAssetsGrp/BOYAmt0484332
IRS990/TotalAssetsGrp/EOYAmt0475525
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt08
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0418488
IRS990/TotalGrossUBIAmt08739
IRS990/TotalLiabilitiesBOYAmt0116175
IRS990/TotalLiabilitiesEOYAmt084065
IRS990/TotalLiabilitiesGrp/BOYAmt0116175
IRS990/TotalLiabilitiesGrp/EOYAmt084065
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0368157
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0391460
IRS990/TotalProgramServiceRevenueAmt0325558
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0333009
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0441791
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt08739
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0484332
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0475525
IRS990/TravelGrp/TotalAmt03902
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/VotingMembersGoverningBodyCnt015
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0WWW.WAKEFORESTCHAMBER.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/PersonNm0JEFF WILLIAMS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum09195561519
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-02-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WAKE FOREST AREA CHAMBER OF
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0COMMERCE
ReturnHeader/Filer/BusinessNameControlTxt0WAKE
ReturnHeader/Filer/EIN0561122169
ReturnHeader/Filer/PhoneNum09195561519
ReturnHeader/Filer/USAddress/AddressLine1Txt0350 S WHITE STREET
ReturnHeader/Filer/USAddress/CityNm0WAKE FOREST
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027587
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0561952467
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MITCHELL & NEMITZ PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt012324 HAMPTON WAY DR STE 201
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WAKE FOREST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0275876543
ReturnHeader/PreparerPersonGrp/PhoneNum09195569500
ReturnHeader/PreparerPersonGrp/PreparationDt02017-02-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ROBERT H MITCHELL JR CPA
ReturnHeader/ReturnTs02017-02-14T20:51:09-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$475,525
Liabilities
$84,065
Net assets
$391,460
Revenue
$441,791
Expenses
$418,488
Net income
$23,303
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$8.02$0.20$7.82$5.00$4.90$0.11
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.73$0.02$7.71$5.46$4.04$1.41
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.41$0.12$6.29$5.17$4.53$0.64
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.66$0.00$5.65$5.15$4.40$0.75
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.95$0.07$4.87$4.95$4.12$0.83
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.63$1.59$4.04$4.75$5.48$0.72
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.92$0.15$4.77$5.05$5.16$0.11
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.91$0.03$4.88$5.34$4.50$0.84
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.52$0.48$4.04$4.57$4.44$0.12
2016Detailed filing. Detailed filing data is available for this year.$4.76$0.84$3.91$4.42$4.18$0.23
2015Detailed filing. Detailed filing data is available for this year.$4.84$1.16$3.68$3.28$3.47$0.20
2014Detailed filing. Detailed filing data is available for this year.$5.10$1.23$3.88$3.65$3.05$0.60
2013Summary only. Only limited summary data is available for this year.$5.65$2.38$3.28$3.43$3.54$0.11
2012Summary only. Only limited summary data is available for this year.$4.02$0.64$3.38$3.58$3.30$0.28
2011Summary only. Only limited summary data is available for this year.$4.22$1.11$3.10$3.22$3.15$0.07