Civic Intelligence

Wake Forest Area Chamber of Commerce

990 • Fiscal year 2020 • EIN 56-1122169

Jul 01, 2019 to Jun 30, 2020 • Filed on Jul 27, 2020

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

74th percentile

0.28x

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

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

Liabilities / Revenue

76th percentile

0.33x

Higher debt load relative to revenue than 76% of similar nonprofits.

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

Net Margin

14th percentile

-15%

Higher net margin than 14% of similar nonprofits.

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

Top Officer Pay

44th percentile

$0

Higher top officer pay than 44% of similar nonprofits.

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

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

Asset Growth

68th percentile

15%

Faster asset growth than 68% of similar nonprofits.

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

Revenue Growth

57th percentile

-6.0%

Faster revenue growth than 57% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets74th percentile

Assets

Up

$563,443

Up $71,817 (+15%) from 2019

Net Assets

Down

$404,456

Down $72,325 (-15%) from 2019

Liabilities

Up

$158,987

Up $144,142 (+971%) from 2019

Revenue And Expenses
Liabilities / Revenue76th percentileNet Margin14th percentile

Revenue

Down

$475,246

Down $30,201 (-6.0%) from 2019

Expenses

Up

$547,571

Up $31,291 (+6.1%) from 2019

Net Income

Down

-$72,325

Down $61,492 (-568%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth68th 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

2020

Assets$563,443
Liabilities$158,987
Net Assets$404,456
Open 2020 Filing

Operations Trend

Revenue Growth57th 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

2020

Revenue$475,246
Expenses$547,571
Net Income-$72,325
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Jul 27, 2020
Return Version
2019v5.0
Gross Receipts
$580,719
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$476,781$404,456▼ $72,325
Land, Buildings, and Equipment, Net$262,515$252,323▼ $10,192
Savings and Temporary Cash Investments$93,652$244,703▲ $151,051
Cash and Non-Interest-Bearing Accounts$134,654$66,417▼ $68,237
Intangible Assets$805--
Total Assets$491,626$563,443▲ $71,817
Liabilities
Other Liabilities$11,623$155,805▲ $144,182
Accounts Payable and Accrued Expenses$3,222$3,182▼ $40
Total Liabilities$14,845$158,987▲ $144,142
Net Assets / Fund Balance
Total Net Assets Fund Balance$476,781$404,456▼ $72,325
Total Liabilities and Net Assets / Fund Balance$491,626$563,443▲ $71,817

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$117,185$297,453$414,638
Land$135,138-$135,138
Compensation and Service Providers
Top Officer Pay44th percentile

Board Members and Trustees

NameTitle
Jodi DarrohnChair
Amanda CochraneDirector
Andi CurtisDirector
Bryan MillerDirector
Carter HarrellDirector
Dawn DariaDirector
Dawn SatterwhiteDirector
Don BowmanDirector
James WarrenDirector
Jennifer RayDirector
Joe KimrayDirector
Marty CowardDirector
Robbie EarnhardtDirector
Seth AsbillDirector
David Williams JrTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$407,249
Investment Income
$1,052
Other Revenue
$66,945
Change in Net Assets
$-72,325
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$425,098
Other Expenses$122,473
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$368,304
Payroll Taxes---$32,548
All Other Expenses---$26,953
Other Employee Benefits---$15,789
Depreciation Depletion---$10,997
Fees for Services Accounting---$10,761
Other Expenses---$10,090
Pension Plan Contributions---$8,457
Occupancy---$7,311
Insurance---$4,686
Total Functional Expenses$0$0$0$547,571
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$139,692
Fundraising Direct Expenses$94,408
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Business Expo$41,755$41,755$16,366$25,389
Meet in the Str$30,725$30,725$28,350$2,375
Total Events$139,642$139,642$94,408$45,234
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$155,805
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
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
David Williams Jr
Title
Treasurer
Phone
9195561519
Signed
2020-07-27

Organization Details

Principal Officer
Jodi Darrohn
Voting Board Members
15
Independent Board Members
0
Employees
12

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.”

Raw XML Appendix369 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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IRS990ScheduleD/LandGrp/BookValueAmt0135138
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0135138
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0117185
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0297453
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0414638
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0155805
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0LONG TERM NOTE PAYABLE
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0252323
IRS990ScheduleD/TotalLiabilityAmt0155805
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt094408
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0BUSINESS EXPO
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0MEET IN THE STR
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt041755
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt030725
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsOtherEventsAmt067162
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0139642
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt041755
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt030725
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueOtherEventsAmt067162
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt0139642
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt045234
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssOtherEventsAmt049692
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt094408
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt016366
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt028350
IRS990ScheduleG/FundraisingEventInformationGrp/OtherEventsTotalCnt04
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/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
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NC
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0491626
IRS990/TotalAssetsEOYAmt0563443
IRS990/TotalAssetsGrp/BOYAmt0491626
IRS990/TotalAssetsGrp/EOYAmt0563443
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt012
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0547571
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt014845
IRS990/TotalLiabilitiesEOYAmt0158987
IRS990/TotalLiabilitiesGrp/BOYAmt014845
IRS990/TotalLiabilitiesGrp/EOYAmt0158987
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0476781
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0404456
IRS990/TotalProgramServiceRevenueAmt0407249
IRS990/TotalRevenueGrp/ExclusionAmt03055
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0426907
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0475246
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0491626
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0563443
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/VotingMembersGoverningBodyCnt015
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0WWW.WAKEFORESTCHAMBER.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02021-04-22 16:20:28Z
ReturnHeader/BusinessOfficerGrp/PersonNm0DAVID WILLIAMS JR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum09195561519
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-07-27
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/FilingSecurityInformation/AtSubmissionCreationDeviceId056E76B99AF7A1806AC2D81FF543262868023958E
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0BDBBB5CAE153A64217360190A1AD13B69BE6C43A
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt024.172.251.118
ReturnHeader/FilingSecurityInformation/IPDt02020-10-15
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm014:41:28
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/PreparationDt02020-07-27
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ROBERT H MITCHELL JR CPA
ReturnHeader/ReturnTs02020-10-15T14:41:28-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-07-01
ReturnHeader/TaxPeriodEndDt02020-06-30
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$563,443
Liabilities
$158,987
Net assets
$404,456
Revenue
$475,246
Expenses
$547,571
Net income
-$72,325
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
2020Detailed filing. Detailed filing data is available for this year.$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
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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