BEAUFORT REGIONAL CHAMBER OF COMMERCE

EIN: 570296095

BEAUFORT, SC

Total Revenue
$664,944
Total Expenses
$552,652
Total Assets
$410,044
Net Assets
$179,100
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Financial Trends

Organization Details

Formation Year
1964
Legal Domicile
SC
Principal Officer
MEGAN MORRIS
Phone
8435258525
Tax Period
2023-07-01 to 2024-06-30

BEAUFORT REGIONAL CHAMBER OF COMMERCE, founded in 1964, is a small nonprofit that reported $665K in total revenue in fiscal year 2023. The organization ran a surplus of $112K, a strong 17% operating margin.

Mission

OUR MISSION IS TO PROMOTE ECONOMIC PROSPERITY TO ENHANCE THE WELL-BEING OF EVERYONE IN OUR REGION. WE ENVISION A THRIVING REGION BASED ON A RESILIENT ECONOMY, TODAY AND FOR FUTURE GENERATIONS. THE CHAMBER IS AN INDEPENDENT NETWORK OF LOCAL LEADERS REPRESENTING BUSINESS OF EVERY SIZE AND SECTOR, ADVOCATING FOR A STRONG BUSINESS CLIMATE AND A PROSPEROUS FUTURE FOR THE BEAUFORT REGION, AND UNITED BY THE BELIEF THAT SUCCESSFUL BUSINESSES ARE THE FOUNDATION OF A THRIVING COMMUNITY. OUR VALUES INCLUDE INTEGRITY, COLLABORATION, INCLUSION, AND SERVICE. OUR REGION INCLUDES BEAUFORT, PORT ROYAL, LADY'S ISLAND, BURTON, SHELDON, YEMASSEE, ST. HELENA ISLAND, AND THE SEA ISLANDS.

Program Service Accomplishments

Program 1

THE CHAMBER EXISTS TO PROMOTE ECONOMIC PROSPERITY TO ENHANCE THE WELL-BEING OF EVERYONE IN OUR REGION BY:1) SUPPORTING LOCAL BUSINESSES BY PROVIDING ADVOCACY, INFORMATION, AND CONNECTIONS, TO HELP...

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THE CHAMBER EXISTS TO PROMOTE ECONOMIC PROSPERITY TO ENHANCE THE WELL-BEING OF EVERYONE IN OUR REGION BY:1) SUPPORTING LOCAL BUSINESSES BY PROVIDING ADVOCACY, INFORMATION, AND CONNECTIONS, TO HELP MEMBERS BE SUCCESSFUL AND PROFITABLE: A) ADVOCACY: I) ACTIONABLE PUBLIC POLICY AGENDA TO IMPROVE THE REGION'S BUSINESS CLIMATE. II) CONSISTENT DIALOG WITH LOCAL, STATE, AND FEDERAL ELECTED OFFICIALS TO ADVOCATE FOR BUSINESSES. B) INFORMATION: I) MULTICHANNEL COMMUNICATIONS WITH CURATED NEWS, PERSPECTIVES, RESOURCES, AND PROMOTION OPPORTUNITIES. II) SEMINARS WITH INNOVATIVE THINKERS AND BEST PRACTICE LEADERS. C) CONNECTIONS: I) FREQUENT, WELL-ORGANIZED OPPORTUNITIES TO INTERACT WITH OTHER BUSINESS LEADERS. II) UNIQUE WAYS TO REACH TARGET CUSTOMERS.2) GROWING THE ECONOMY BY WORKING WITH PARTNERS TO PROMOTE GROWING ECONOMIC SECTORS AND STRENGTHEN EXISTING ECONOMIC PILLARS SUCH AS DEFENSE AND TOURISM: A) PARTNERSHIPS: I) ESTABLISH PARTNERSHIPS WITH ALLIED ORGANIZATIONS WORKING TO PROMOTE ECONOMIC GROWTH. II) USE ADVOCACY, CONVENING, AND COMMUNICATION STRENGTHS TO ADVANCE PARTNER'S MISSIONS. B) SECTORS: I) CONVENE MEMBER BUSINESSES BY ECONOMIC SECTOR TO ASSESS NEEDS AND EXPLORE OPPORTUNITIES. II) ORGANIZE WORK GROUPS AND SHARE ECONOMIC/EMPLOYMENT DATA TO ADVANCE KEY SECTORS. C) MILITARY: I) ADVOCATE FOR POLICIES, PROGRAMS, AND INVESTMENTS NEEDED TO SECURE THE REGION'S EXISTING MILITARY MISSIONS. II) IDENTIFY AND PROMOTE OPPORTUNITIES TO ATTRACT COMPLEMENTARY MISSIONS BY BUILDING ON CURRENT ASSETS. D) KEY ECONOMIC SECTORS: I) MILITARY/DEFENSE II) HOSPITALITY III)REAL ESTATE IV) MANUFACTURING V) HEALTH CARE VI) TECHNOLOGY3) BUILDING LEADERSHIP CAPACITY BY MOBILIZING THE BOARD, CONDUCTING RESEARCH, LEVERAGING COMMUNICATIONS AND PROGRAMS, AND GROWING THE MEMBERSHIP TO ENHANCE THE CHAMBER'S INFLUENCE AND CAPACITY: A) VISION: I) USE CONVENING POWER OF THE CHAMBER BOARD TO ENGAGE WITH REGIONAL LEADERS FROM OTHER SECTORS. II) ENGAGE CHAMBER MEMBERS IN FUTURE VISIONING THROUGH EVENTS AND SURVEYS. B) INSIGHT: I) TRACK AND REPORT ON KEY REGIONAL ECONOMIC, WORKFORCE, AND DEMOGRAPHIC DATA. II) PUBLISH REPORTS, RELEASE OP-EDS, AND OFFER COMMENTARY ABOUT SIGNIFICANT REGIONAL ISSUES. C) ORGANIZATION: I) GROW MEMBERSHIP AND REVENUE BY ATTRACTING NEW MEMBERS AND UPGRADE EXISTING MEMBERS. II) DEEPEN MEMBER ENGAGEMENT IN STRATEGIC WORK AREAS.

Program 2

OUR MISSION IS TO MANAGE AND BUILD CAPACITY FOR CONTINUAL COMMUNITY GROWTH BY ADVOCATING FOR A PRO-BUSINESS ENVIRONMENT AND BUILDING WORKFORCE TO ENRICH THE REGION'S QUALITY OF LIFE. THE CHAMBER IS A...

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OUR MISSION IS TO MANAGE AND BUILD CAPACITY FOR CONTINUAL COMMUNITY GROWTH BY ADVOCATING FOR A PRO-BUSINESS ENVIRONMENT AND BUILDING WORKFORCE TO ENRICH THE REGION'S QUALITY OF LIFE. THE CHAMBER IS A MEMBERSHIP BASED ORGANIZATION WHOSE PURPOSE IS TO ADVANCE THE GENERAL WELFARE AND PROSPERITY OF THE BEAUFORT, SC REGION SO THAT THE BUSINESS COMMUNITY WILL PROSPER.

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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 (2023)

Revenue Breakdown

Contributions & Grants $479,678
Program Service Revenue $174,256
Investment Income $5,084
Other Revenue $5,926
TOTAL REVENUE $664,944

Expense Breakdown

Grants Paid $0
Salaries & Benefits $272,578
Fundraising Expenses $0
Other Expenses $280,074
TOTAL EXPENSES $552,652

Year-over-Year Comparison

2023 2022 Change
Revenue $664,944 $685,456 0.0%
Expenses $552,652 $653,821 -0.2%
Net Income $112,292 $31,635 +2.5%
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
24
Independent Members
24
Employees
5
Volunteers
N/A

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
$0
Total Directors
25
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RUSSELL BAXLEY DIRECTOR 2.00
Director
$0 $0 $0
NICK MESENBURG CHAIR ELECT 2.00
Officer Director
$0 $0 $0
JENNIFER TUCKWILLER PAST CHAIR 2.00
Officer Director
$0 $0 $0
LIZ MITCHUM TREASURER 2.00
Officer Director
$0 $0 $0
GRAHAM SOMERALL CHAIR 2.00
Officer Director
$0 $0 $0
RUSSELL BAXLEY DIRECTOR 2.00
Director
$0 $0 $0
JESSICA BRIDGES DIRECTOR 2.00
Director
$0 $0 $0
ROGER BRIGHT DIRECTOR 2.00
Director
$0 $0 $0
JASON FERRELL DIRECTOR 2.00
Director
$0 $0 $0
BEN COPPAGE DIRECTOR 2.00
Director
$0 $0 $0
MARK CUTLER DIRECTOR 2.00
Director
$0 $0 $0
CAROLINE FERMIN DIRECTOR 2.00
Director
$0 $0 $0
CHRIS FISHER DIRECTOR 2.00
Director
$0 $0 $0
LAUREN GADD DIRECTOR 2.00
Director
$0 $0 $0
JANET GRESHAM DIRECTOR 2.00
Director
$0 $0 $0
VERONICA HEMMINGWAY DIRECTOR 2.00
Director
$0 $0 $0
ETHAN JAMES DIRECTOR 2.00
Director
$0 $0 $0
HOPE LANIER-FREEMAN DIRECTOR 2.00
Director
$0 $0 $0
MARTHA MORIARTY DIRECTOR 2.00
Director
$0 $0 $0
LISA PHILP DIRECTOR 2.00
Director
$0 $0 $0
WHIT SUBER DIRECTOR 2.00
Director
$0 $0 $0
THOMAS TAYLOE DIRECTOR 2.00
Director
$0 $0 $0
GAMAR WATTS DIRECTOR 2.00
Director
$0 $0 $0
RITA WILSON DIRECTOR 2.00
Director
$0 $0 $0
COURTNEY WORRELL DIRECTOR 2.00
Director
$0 $0 $0
MEGAN MORRIS PRESIDENT & CEO 40.00
Officer
$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
2025 No data No data No data No data
2024 $664,944 $552,652 $410,044 $112,292
2023 $685,456 $653,821 $312,451 $31,635
2022 $426,432 $556,087 $253,359 $-129,655
2021 $428,595 $397,210 $347,170 $31,385
2020 $472,149 $441,594 $299,911 $30,555
2019 $628,027 $705,536 $280,243 $-77,509
2018 $1,465,125 $1,433,850 $759,243 $31,275
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