Martinsville-Henry County Chamber of Commerce Inc

EIN: 540675121 Community Improvement

Martinsville, VA

Total Revenue
$394,508
Total Expenses
$398,684
Total Assets
$405,807
Net Assets
$311,322
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
1959
Legal Domicile
VA
Principal Officer
Anne Jacobsen-Smith
Phone
2766326401
Tax Period
2022-07-01 to 2023-06-30

MARTINSVILLE-HENRY COUNTY CHAMBER OF COM MERCE INC, founded in 1959, is a small nonprofit in the Community Improvement sector that reported $481K in total revenue in fiscal year 2017. Expenses of $454K left a modest 6% surplus.

Mission

The Martinsville-Henry County Chamber of Commerce, Inc. is organized for the purpose of advancing the commercial, industrial, and civic interests of the City of Martinsville and Henry County.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $79,864
Program Service Revenue $310,946
Investment Income $282
Other Revenue $3,416
TOTAL REVENUE $394,508

Expense Breakdown

Grants Paid $0
Salaries & Benefits $158,654
Fundraising Expenses $0
Other Expenses $240,030
TOTAL EXPENSES $398,684

Year-over-Year Comparison

2022 2021 Change
Revenue $394,508 $322,135 +0.2%
Expenses $398,684 $328,115 +0.2%
Net Income $-4,176 $-5,980 -0.3%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Governance

Voting Members
18
Independent Members
18
Employees
5
Volunteers
20

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
8
$72,409
Total Directors
19
$0
Key Employees
2
$72,409
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Lisa Watkins President 40.00
Officer Key Emp Highest
$48,659 $0 $48,659
DeShanta Hairston Director N/A
Director
$0 $0 $0
Mary Handy Secretary/Treasurer N/A
Officer Director
$0 $0 $0
Rhonda Hodges Director N/A
Director
$0 $0 $0
Kristoff Lievens Vice Chair of Organizational Imp N/A
Officer Director
$0 $0 $0
Larissa Rash Director N/A
Director
$0 $0 $0
Richard Reed Director N/A
Director
$0 $0 $0
Eddie Cassady Director N/A
Director
$0 $0 $0
Carlie Smith Director N/A
Director
$0 $0 $0
George Dickens Immed Past Chair N/A
Director
$0 $0 $0
Terri Stutz Director N/A
Director
$0 $0 $0
Joni Temple Vice Chair of Membership Services N/A
Officer Director
$0 $0 $0
Billy Kirby Vice Chair of Economic Development N/A
Officer Director
$0 $0 $0
Wayne Draper Director N/A
Director
$0 $0 $0
James Souter Director N/A
Director
$0 $0 $0
Monica Hatchett Director N/A
Director
$0 $0 $0
Japhet LeGrant Director N/A
Director
$0 $0 $0
Spencer Thomas Vice Chair of Govt Affairs N/A
Officer Director
$0 $0 $0
Susan Sabin Director N/A
Director
$0 $0 $0
Anne Jacobsen-Smith Chairman N/A
Officer Director
$0 $0 $0
Brenell Thomas President 40.00
Officer Key Emp Highest
$23,750 $0 $23,750
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 No data No data No data No data
2023 $394,508 $398,684 $405,807 $-4,176
2022 $322,135 $328,115 $399,895 $-5,980
2021 $323,511 $307,114 $379,158 $16,397
2018 $480,863 $454,346 $306,588 $26,517
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