Civic Intelligence

Oldham Chamber & Economic Development Inc

990 • Fiscal year 2020 • EIN 61-1243293

Jul 01, 2019 to Jun 30, 2020 • Filed on Dec 11, 2020

204 South 1st AvenueLagrange, KY 40031

(502) 222-1635

Siviq Scores

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

Liabilities / Assets

86th percentile

0.35x

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

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

75th percentile

0.14x

Higher debt load relative to revenue than 75% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Net Margin

39th percentile

-3.1%

Higher net margin than 39% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Top Officer Pay

93rd percentile

$85,898

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 24.8% of source-year revenue.

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Asset Growth

4th percentile

-64%

Faster asset growth than 4% of similar nonprofits.

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

Revenue Growth

67th percentile

-7.1%

Faster revenue growth than 67% of similar nonprofits.

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

Assets

Down

$137,190

Down $242,214 (-64%) from 2019

Net Assets

Down

$88,632

Down $289,164 (-77%) from 2019

Liabilities

Up

$48,558

Up $46,950 (+2920%) from 2019

Revenue

Down

$345,982

Down $26,470 (-7.1%) from 2019

Expenses

Down

$356,847

Down $11,357 (-3.1%) from 2019

Net Income

Down

-$10,865

Down $15,113 (-356%) from 2019

Historical Trend

Balance Sheet Trend

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

$400K$300K$200K$100K$0Assets 2011: $225,784Liabilities 2011: $4,228Net Assets 2011: $221,5562011Assets 2012: $266,832Liabilities 2012: $31,028Net Assets 2012: $235,8042012Assets 2013: $266,767Liabilities 2013: $6,278Net Assets 2013: $260,4892013Assets 2014: $297,432Liabilities 2014: $126Net Assets 2014: $297,3062014Assets 2015: $311,079Liabilities 2015: $3,129Net Assets 2015: $307,9502015Assets 2016: $376,540Liabilities 2016: $2,532Net Assets 2016: $374,0082016Assets 2017: $373,536Liabilities 2017: $13,102Net Assets 2017: $360,4342017Assets 2018: $375,010Liabilities 2018: $1,461Net Assets 2018: $373,5492018Assets 2019: $379,404Liabilities 2019: $1,608Net Assets 2019: $377,7962019Assets 2020: $137,190Liabilities 2020: $48,558Net Assets 2020: $88,6322020Assets 2021: $171,402Liabilities 2021: $3,817Net Assets 2021: $167,5852021Assets 2022: $167,145Liabilities 2022: $1,132Net Assets 2022: $166,0132022Assets 2024: $126,005Liabilities 2024: $6,912Net Assets 2024: $119,0932024

Highlighted filing

2020

Assets$137,190
Liabilities$48,558
Net Assets$88,632

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2011: $313,164Expenses 2011: $288,952Net Income 2011: $24,2122011Expenses 2012: $293,6582012Revenue 2013: $347,724Expenses 2013: $323,039Net Income 2013: $24,6852013Revenue 2014: $323,258Expenses 2014: $286,549Net Income 2014: $36,7092014Revenue 2015: $295,464Expenses 2015: $284,820Net Income 2015: $10,6442015Revenue 2016: $300,203Expenses 2016: $234,145Net Income 2016: $66,0582016Revenue 2017: $297,100Expenses 2017: $310,674Net Income 2017: -$13,5742017Revenue 2018: $347,373Expenses 2018: $334,293Net Income 2018: $13,0802018Revenue 2019: $372,452Expenses 2019: $368,204Net Income 2019: $4,2482019Revenue 2020: $345,982Expenses 2020: $356,847Net Income 2020: -$10,8652020Revenue 2021: $389,037Expenses 2021: $292,420Net Income 2021: $96,6172021Revenue 2022: $454,895Expenses 2022: $371,336Net Income 2022: $83,5592022Revenue 2024: $499,877Expenses 2024: $493,811Net Income 2024: $6,0662024

Highlighted filing

2020

Revenue$345,982
Expenses$356,847
Net Income-$10,865
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Dec 11, 2020
Return Version
2019v5.1
Gross Receipts
$345,982
Mission and Program Overview

Mission

The organization strives to be the "go to organization for business networking, business expansion, professional development and community relationships. Membership participation helps to increase the awareness of economic growth in oldham county.

The organization strives to be the "go to organization for business networking, business expansion, professional development and community relationships. Memebership participation helps to increase the awareness of economic growth in oldham county,

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$218,194--
Cash and Non-Interest-Bearing Accounts$161,210$137,190▼ $24,020
Total Assets$379,404$137,190▼ $242,214
Liabilities
Unsecured Notes Loans Payable-$45,900-
Accounts Payable and Accrued Expenses$1,608$2,658▲ $1,050
Total Liabilities$1,608$48,558▲ $46,950
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$377,796$88,632▼ $289,164
Total Net Assets Fund Balance$377,796$88,632▼ $289,164
Total Liabilities and Net Assets / Fund Balance$379,404$137,190▼ $242,214
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
David BizianesPresidentFT$85,898$85,898

Board Members and Trustees

NameTitle
Christy PaulinChairman
Steve WilsonIncoming Chairman
Jonathan WestbrookPast Chair
Gary HardyVice Chair Membership Serv
Chris JohnsonBoard Member
Greg SchultzBoard Member
Jason DuckworthBoard Member
Jason MorganBoard Member
Joe VanceBoard Member
Ken StoessBoard Member
Leslie GilleyBoard Member
Nick CurcioBoard Member
Winnie Boling DmdBoard Member
Zack Van ZantTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$307,720
Program Service Revenue
$36,127
Investment Income
$1,270
Other Revenue
$865
All Other Contributions
$45,800
Change in Net Assets
$-10,865
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$264,173
Other Expenses$92,674
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$127,917$12,734-$140,651
Current Officers, Directors, Trustees, and Key Employees$68,800$17,098-$85,898
Other Employee Benefits$19,267$548-$19,815
Payroll Taxes$15,437$2,372-$17,809
Advertising$15,276--$15,276
Office Expenses$11,987$1,682-$13,669
Information Technology$7,527$1,069-$8,596
Travel$5,649$802-$6,451
Fees for Services Accounting$5,149$731-$5,880
Insurance$4,219$599-$4,818
Other Expenses$2,428$397-$2,825
Conferences and Meetings$2,416$343-$2,759
Occupancy$315--$315
Total Functional Expenses$318,028$38,819$0$356,847
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
Audit committee
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
No
Conflict-of-interest policy
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, line 11B

The form 990 is reviewed by the executive director and treasurer before filing. The financial statements are reviewed by the executive committee prior to the next scheduled board meeting.

Form 990, Part VI, Section B, line 15A

The executive director is subject to an annual review and evaluation by select members of the executive committee. After the evaluation, any recommendations for increase in salary are submitted to the board for approval.

Form 990, Part VI, Section C, line 19

The organization makes its governing documents and financial statements available at its office upon receiving a written request from any interested party.

Filing and Contact Details

Filer

Filer Name
Oldham Chamber & Economic
EIN
61-1243293
Phone
5022221635
Address
204 SOUTH 1ST AVENUE, LAGRANGE, KY 40031

Signing Officer

Name
David Bizianes
Title
President
Phone
5022221635
Signed
2020-12-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Bizianes
Formed
1963
Legal Domicile
Ky
Voting Board Members
17
Independent Board Members
17
Employees
4
Volunteers
0

Preparer

Firm
Amick & Company PSC
Address
410 W Chestnut St Ste 237, Louisville, KY 40202-2323
Preparer
Albert H Klein II
Phone
5025835381
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

Transfer to Foundation -278,161.

Form 990, Page 12, Part XII, Line 2C

This process has not changed from the previous year.

Financial Statement Notes

Part X, Line 2:

There are no positions for which ultimate deductibility is highly uncertain included in the consolidated statements of financial position at june 30, 2020. The organization recognizes interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. The organization did not recognize any interest or penalties during the year ended june 30, 2020.

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IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt02372
IRS990/PayrollTaxesGrp/ProgramServicesAmt015437
IRS990/PayrollTaxesGrp/TotalAmt017809
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0DAVID BIZIANES
IRS990/PriorPeriodAdjustmentsAmt0-138
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0541900
IRS990/ProgramServiceRevenueGrp/BusinessCd1541900
IRS990/ProgramServiceRevenueGrp/Desc0TOTAL EVENT REVENUE
IRS990/ProgramServiceRevenueGrp/Desc1TOTAL PROGRAM REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt023420
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt112707
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt023420
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt112707
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0299363
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt02000
IRS990/PYOtherExpensesAmt097952
IRS990/PYOtherRevenueAmt025210
IRS990/PYProgramServiceRevenueAmt045879
IRS990/PYRevenuesLessExpensesAmt04248
IRS990/PYSalariesCompEmpBnftPaidAmt0270252
IRS990/PYTotalExpensesAmt0368204
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0372452
IRS990/ReconcilationRevenueExpnssAmt0-10865
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RoyaltiesRevenueGrp/RelatedOrExemptFuncIncomeAmt0865
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt0865
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0218194
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THERE ARE NO POSITIONS FOR WHICH ULTIMATE DEDUCTIBILITY IS HIGHLY UNCERTAIN INCLUDED IN THE CONSOLIDATED STATEMENTS OF FINANCIAL POSITION AT JUNE 30, 2020. THE ORGANIZATION RECOGNIZES INTEREST ACCRUED RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE AND PENALTIES IN OPERATING EXPENSES. THE ORGANIZATION DID NOT RECOGNIZE ANY INTEREST OR PENALTIES DURING THE YEAR ENDED JUNE 30, 2020.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR AND TREASURER BEFORE FILING. THE FINANCIAL STATEMENTS ARE REVIEWED BY THE EXECUTIVE COMMITTEE PRIOR TO THE NEXT SCHEDULED BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE EXECUTIVE DIRECTOR IS SUBJECT TO AN ANNUAL REVIEW AND EVALUATION BY SELECT MEMBERS OF THE EXECUTIVE COMMITTEE. AFTER THE EVALUATION, ANY RECOMMENDATIONS FOR INCREASE IN SALARY ARE SUBMITTED TO THE BOARD FOR APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE AT ITS OFFICE UPON RECEIVING A WRITTEN REQUEST FROM ANY INTERESTED PARTY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Transfer to Foundation -278,161.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4This process has not changed from the previous year.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part XI, line 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Page 12, Part XII, Line 2c
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd01
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0OLDHAM CHAMBER ECONOMIC DEVELOPMENT FOUNDATION INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0611379786
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0KY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0SOLICIT CONTRIBUTIONS TO PROMOTE ECONOMIC DEVELOPMENT IN OLDHAM COUNTY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0112 SOUTH FIRST STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0LAGRANGE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0KY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd040031
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0278161
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0Cash
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0Oldham Chamber Economic Development Foundation
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0B
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0KY
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0379404
IRS990/TotalAssetsEOYAmt0137190
IRS990/TotalAssetsGrp/BOYAmt0379404
IRS990/TotalAssetsGrp/EOYAmt0137190
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0307720
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt038819
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0318028
IRS990/TotalFunctionalExpensesGrp/TotalAmt0356847
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01608
IRS990/TotalLiabilitiesEOYAmt048558
IRS990/TotalLiabilitiesGrp/BOYAmt01608
IRS990/TotalLiabilitiesGrp/EOYAmt048558
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0377796
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt088632
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0318028
IRS990/TotalProgramServiceRevenueAmt036127
IRS990/TotalReportableCompFromOrgAmt085898
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt038262
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0345982
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0379404
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0137190
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt0802
IRS990/TravelGrp/ProgramServicesAmt05649

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.26$0.07$1.19$5.00$4.94$0.06
2022Detailed filing. Detailed filing data is available for this year.$1.67$0.01$1.66$4.55$3.71$0.84
2021Detailed filing. Detailed filing data is available for this year.$1.71$0.04$1.68$3.89$2.92$0.97
2020Detailed filing. Detailed filing data is available for this year.$1.37$0.49$0.89$3.46$3.57$0.11
2019Detailed filing. Detailed filing data is available for this year.$3.79$0.02$3.78$3.72$3.68$0.04
2018Detailed filing. Detailed filing data is available for this year.$3.75$0.01$3.74$3.47$3.34$0.13
2017Detailed filing. Detailed filing data is available for this year.$3.74$0.13$3.60$2.97$3.11$0.14
2016Detailed filing. Detailed filing data is available for this year.$3.77$0.03$3.74$3.00$2.34$0.66
2015Detailed filing. Detailed filing data is available for this year.$3.11$0.03$3.08$2.95$2.85$0.11
2014Detailed filing. Detailed filing data is available for this year.$2.97$0.00$2.97$3.23$2.87$0.37
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.67$0.06$2.60$3.48$3.23$0.25
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.67$0.31$2.36$2.94
2011Summary only. Only limited summary data is available for this year.$2.26$0.04$2.22$3.13$2.89$0.24