CHAPEL HILL-CARRBORO CHAMBER OF COMMERCE

EIN: 560798467

CHAPEL HILL, NC

Total Revenue
$1,506,009
Total Expenses
$1,433,112
Total Assets
$630,249
Net Assets
$177,118
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1978
Legal Domicile
NC
Principal Officer
AARON NELSON
Phone
9199677075
Tax Period
2024-01-01 to 2024-12-31

CHAPEL HILL-CARRBORO CHAMBER OF COMMERCE, founded in 1978, is a community nonprofit that reported $1.5M in total revenue in fiscal year 2024. Revenue grew 8% year-over-year, indicating healthy expansion. Expenses of $1.4M left a modest 5% surplus.

Mission

THE CHAMBER'S MISSION IS TO SERVE AND ADVANCE LOCAL BUSINESS INTERESTS AND BUILD A RESILIENT COMMUNITY WHERE BUSINESS THRIVES. THE CHAMBER CONNECTS, ADVOCATES, DRIVES PROGRESS AND BUILDS COMMUNITY.

Program Service Accomplishments

Program 1

THE CHAMBER HAD THE FOLLOWING PROGRAM ACCOMPLISHMENTS IN 2024: CLIENTS SERVED: 600 BUSINESSES AND NONPROFIT MEMBERS, AND A NETWORK OF 2500 BUSINESS AND COMMUNITY LEADERS, 1000+ RELOCATORS, AND 1000+...

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THE CHAMBER HAD THE FOLLOWING PROGRAM ACCOMPLISHMENTS IN 2024: CLIENTS SERVED: 600 BUSINESSES AND NONPROFIT MEMBERS, AND A NETWORK OF 2500 BUSINESS AND COMMUNITY LEADERS, 1000+ RELOCATORS, AND 1000+ VISITORS.SUCCESSFULLY CONNECTED MEMBERS TO THE PEOPLE, INFORMATION, AND RESOURCES THEY NEED TO THRIVE; ADVOCATED FOR LOCAL BUSINESS INTERESTS; AND DROVE PROGRESS AND BUILT COMMUNITY.ORGANIZED AND MANAGED MORE THAN ONE HUNDRED ONLINE AND IN PERSON MEETINGS AND EVENTS TO KEEP MEMBERS INFORMED AND CONNECTED AND THAT HELPED IMPROVE THE LOCAL ECOSYSTEM AND INFRASTRUCTURE NEEDED TO HELP ENTERPRISES SUCCEED.ADMINISTERED SMALL BUSINESS GRANTS AND PROVIDED TECHNICAL ASSISTANCE AND SUPPORT TO LOCAL ENTERPRISES.STRENGTHENED CHAMBER EXPORT SERVICES AND HELPED BUSINESSES EXPORT HUNDREDS OF PRODUCTS THROUGH CHAMBEREXPORT.COM.PARTNERED TO SERVE MORE THAN 500 CHAMBER MEMBER EMPLOYEES IN THE SMALL BUSINESS HEALTH PLAN PROVIDING HIGH-QUALITY, LOW-COST HEALTH AND DENTAL SERVICES.ACHIEVED 90% MEMBER SATISFACTION AND MEMBER RETENTION RATE.SUCCESSFULLY SUPPORTED SMALL BUSINESS JOB GROWTH, EXPANSION, DEVELOPMENT, AND SUCCESS.SUCCESSFULLY ADVOCATED FOR IMPROVEMENTS TO THE LOCAL GOVERNMENT DEVELOPMENT AND BUSINESS REGULATIONS.PARTNERED WITH LOCAL ECONOMIC DEVELOPMENT ORGANIZATIONS TO RECRUIT NEW EMPLOYERS TO THE REGION.SAVED MEMBERS THOUSANDS OF DOLLARS THROUGH 8 STRATEGIC PARTNERSHIPS AND 20+ MEMBER TO MEMBER BENEFITS.RECOGNIZED BEST-IN-CLASS BUSINESSES AT THE 10TH ANNUAL BUSINESS EXCELLENCE AWARDS.PROVIDED HUNDREDS OF ONLINE REFERRALS TO MEMBER BUSINESSES.WELCOMED DOZENS OF NEW MEMBERS TO THE CHAMBER.DELIVERED MONTHLY, MEMBER GOVERNMENT BRIEFINGS ON KEY GOVERNMENT ISSUES AND CHANGES AFFECTING THEIR BUSINESSES.ORGANIZED INDUSTRY PROFESSIONAL CALLS FOR REAL ESTATE, NON-PROFITS, AND RETAILERS.PARTNERED TO PRODUCE A VISITOR AND RELOCATION MAGAZINE AND COMMUNITY MAP TO CONNECT BUSINESS WITH THEIR CUSTOMERS.EXCEEDED THE $1.4 MILLION GOAL OF THE CAMPAIGN FOR A GREATER CHAPEL HILL-CARRBORO AND EXPANDED STAFF AND GREW ORGANIZATIONAL CAPACITY TO ADVANCE A CLEAR SET OF COMMUNITY OBJECTIVES FOCUSED ON STRENGTHENING SMALL BUSINESS SUPPORT, WORKFORCE DEVELOPMENT, AND AFFORDABLE HOUSING.PARTNERED WITH THE PARTNERSHIP FOR A GREATER CHAPEL HILL-CARRBORO TO ORGANIZE AN INTERCITY VISIT AND LEADERSHIP CONFERENCE IN ANN ARBOR MICHIGAN.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $303,781
Program Service Revenue $998,029
Investment Income $5,954
Other Revenue $198,245
TOTAL REVENUE $1,506,009

Expense Breakdown

Grants Paid $90,000
Salaries & Benefits $875,964
Fundraising Expenses $0
Other Expenses $467,148
TOTAL EXPENSES $1,433,112

Year-over-Year Comparison

2024 2023 Change
Revenue $1,506,009 $1,388,418 +0.1%
Expenses $1,433,112 $1,372,293 +0.0%
Net Income $72,897 $16,125 +3.5%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
31
Independent Members
31
Employees
11
Volunteers
200

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
5
$267,838
Total Directors
35
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
AARON NELSON NV PRESIDENT/CEO & SECRETARY 45.00
Officer
$241,768 $26,070 $267,838
DAN LEHMAN CHAIR 2.00
Officer Director
$0 $0 $0
BETSY HARRIS VICE CHAIR 2.00
Officer Director
$0 $0 $0
LORI DOHERTY IMMEDIATE PAST CHAIR 2.00
Officer Director
$0 $0 $0
SWETA ADKIN TREASURER 2.00
Officer Director
$0 $0 $0
ROBERT SAUNDERS NV GENERAL COUNSEL 1.00
Director
$0 $0 $0
ELIE ABOU-RJEILEH DIRECTOR 1.00
Director
$0 $0 $0
JES ANDERSON NV DIRECTOR 1.00
Director
$0 $0 $0
MANISH ATMA DIRECTOR 1.00
Director
$0 $0 $0
JES AVERHART DIRECTOR 1.00
Director
$0 $0 $0
DONNA BELL DIRECTOR 1.00
Director
$0 $0 $0
LA-TASHA BEST-GADDY DIRECTOR 1.00
Director
$0 $0 $0
CREIGHTON BLACKWELL DIRECTOR 2.00
Director
$0 $0 $0
TIM DALTON DIRECTOR 1.00
Director
$0 $0 $0
GREG FITCH DIRECTOR 1.00
Director
$0 $0 $0
BARBARA FOUSHEE NV DIRECTOR 1.00
Director
$0 $0 $0
RORY GILLIS DIRECTOR 1.00
Director
$0 $0 $0
NYAH HAMLETT DIRECTOR 1.00
Director
$0 $0 $0
KELLY HOLCOMBE DIRECTOR 1.00
Director
$0 $0 $0
JOEL LEVY DIRECTOR 1.00
Director
$0 $0 $0
GREG LEWIS DIRECTOR 1.00
Director
$0 $0 $0
SCOTT MAITLAND DIRECTOR 1.00
Director
$0 $0 $0
LYDIA MASON DIRECTOR 1.00
Director
$0 $0 $0
CHRIS MCCLURE DIRECTOR 1.00
Director
$0 $0 $0
EARL MCKEE NV DIRECTOR 1.00
Director
$0 $0 $0
JIM MCNEELY DIRECTOR 1.00
Director
$0 $0 $0
POONAM NANDANI DIRECTOR 1.00
Director
$0 $0 $0
TOLA OGUNTOYINBO DIRECTOR 1.00
Director
$0 $0 $0
JENNIFER PLAYER DIRECTOR 2.00
Director
$0 $0 $0
ELIAZAR POSADA DIRECTOR 1.00
Director
$0 $0 $0
CAROLINE RIGGSBEE DIRECTOR 1.00
Director
$0 $0 $0
LAUREN RIVERS DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL RODRIGUEZ DIRECTOR 1.00
Director
$0 $0 $0
WES ROWE DIRECTOR 1.00
Director
$0 $0 $0
RYAN STEWART DIRECTOR 1.00
Director
$0 $0 $0
JULIA WRIGHT DIRECTOR 1.00
Director
$0 $0 $0
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
2024 $1,506,009 $1,433,112 $630,249 $72,897
2023 $1,388,418 $1,372,293 $617,007 $16,125
2022 $1,019,842 $1,170,691 $626,702 $-150,849
2021 $1,087,187 $1,056,386 $791,472 $30,801
2020 $1,150,277 $1,001,434 $741,367 $148,843
2019 $1,081,375 $1,104,536 $498,564 $-23,161
2018 $1,168,702 $1,138,603 $483,995 $30,099
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