CHAMBER OF COMMERCE OF HUNTSVILLE MADISON COUNTY INC

EIN: 630039395

HUNTSVILLE, AL

Total Revenue
$6,251,032
Total Expenses
$5,960,950
Total Assets
$6,343,164
Net Assets
$4,672,292
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Financial Trends

Organization Details

Formation Year
1894
Legal Domicile
AL
Principal Officer
CHIP CHERRY
Phone
2565352014
Tax Period
2023-01-01 to 2023-12-31

CHAMBER OF COMMERCE OF HUNTSVILLE MADISON COUNTY INC, founded in 1894, is a community nonprofit that reported $4.8M in total revenue in fiscal year 2018.

Mission

PROMOTION AND DEVELOPMENT OF CIVIC AND ECONOMIC INTERESTS

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $2,741,272
Program Service Revenue $3,137,818
Investment Income $24,632
Other Revenue $347,310
TOTAL REVENUE $6,251,032

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,825,265
Fundraising Expenses $102,269
Program Expenses $4,934,053
Other Expenses $3,135,685
TOTAL EXPENSES $5,960,950

Year-over-Year Comparison

2023 2022 Change
Revenue $6,251,032 $5,870,991 +0.1%
Expenses $5,960,950 $5,862,505 +0.0%
Net Income $290,082 $8,486 +33.2%
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
61
Independent Members
57
Employees
29
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
19
$0
Total Directors
41
$0
Key Employees
1
$388,884
Highest Compensated
4
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TED BAUDENDISTEL DIRECTOR 1.00
Director
$0 $0 $0
DAVID BIER DIRECTOR 1.00
Director
$0 $0 $0
PENNY BILLINGS DIRECTOR 1.00
Director
$0 $0 $0
THOMAS BUSBY DIRECTOR 1.00
Director
$0 $0 $0
KATIE COMER DIRECTOR 1.00
Director
$0 $0 $0
TOM CONARD DIRECTOR 1.00
Director
$0 $0 $0
BRETT CRAIN DIRECTOR 1.00
Director
$0 $0 $0
DR PATTI DARE DIRECTOR 1.00
Director
$0 $0 $0
MELISSA DAVIS DIRECTOR 1.00
Director
$0 $0 $0
KEVIN FERNANDEZ DIRECTOR 1.00
Director
$0 $0 $0
OWEN FRANKLIN DIRECTOR 1.00
Director
$0 $0 $0
JONI GREEN DIRECTOR 1.00
Director
$0 $0 $0
GINGER HARPER DIRECTOR 1.00
Director
$0 $0 $0
JOSH HERREN DIRECTOR 1.00
Director
$0 $0 $0
JAN HESS DIRECTOR 1.00
Director
$0 $0 $0
LEE HOLLAND DIRECTOR 1.00
Director
$0 $0 $0
THARON HONEYCUTT DIRECTOR 1.00
Director
$0 $0 $0
LAURA HUCKABEE-JENNINGS DIRECTOR 1.00
Director
$0 $0 $0
LINCOLN HUDSON DIRECTOR 1.00
Director
$0 $0 $0
TYCE HUDSON DIRECTOR 1.00
Director
$0 $0 $0
HANK ISENBERG DIRECTOR 1.00
Director
$0 $0 $0
CLINT KIRKLAND DIRECTOR 1.00
Director
$0 $0 $0
RICH KRETZSCHMAR DIRECTOR 1.00
Director
$0 $0 $0
TODD MAY DIRECTOR 1.00
Director
$0 $0 $0
BOB MCCALEB DIRECTOR 1.00
Director
$0 $0 $0
CRAIG NAUDAIN DIRECTOR 1.00
Director
$0 $0 $0
NADIA NIAKOSSARY DIRECTOR 1.00
Director
$0 $0 $0
ALANA PARKER DIRECTOR 1.00
Director
$0 $0 $0
MEREDITH PAYNE DIRECTOR 1.00
Director
$0 $0 $0
ZACK PENNEY DIRECTOR 1.00
Director
$0 $0 $0
CHRIS RUSSELL DIRECTOR 1.00
Director
$0 $0 $0
ALICIA RYAN DIRECTOR 1.00
Director
$0 $0 $0
BETH SIPPEL DIRECTOR 1.00
Director
$0 $0 $0
WAYNE SISCO DIRECTOR 1.00
Director
$0 $0 $0
TOM STANTON DIRECTOR 1.00
Director
$0 $0 $0
SANDRA STEPHENS DIRECTOR 1.00
Director
$0 $0 $0
MITCH STEVISON DIRECTOR 1.00
Director
$0 $0 $0
NILMINI THOMPSON DIRECTOR 1.00
Director
$0 $0 $0
MARK VAPORIS DIRECTOR 1.00
Director
$0 $0 $0
MIKE WATKINS DIRECTOR 1.00
Director
$0 $0 $0
JOHN WATSON DIRECTOR 1.00
Director
$0 $0 $0
GREG BROWN BOARD CHAIR 1.00
Officer
$0 $0 $0
LYNN TROY CHAIR ELECT 1.00
Officer
$0 $0 $0
JEFF GRONBERG IMMEDIATE PAST CHAIR 1.00
Officer
$0 $0 $0
RON POTEAT FOUNDATION CHAIR 1.00
Officer
$0 $0 $0
JEFF SAMZ SECRETARY/TREASURER 1.00
Officer
$0 $0 $0
MICHELLE JORDAN VICE CHAIR 1.00
Officer
$0 $0 $0
SAMEER SINGHAL VICE CHAIR 1.00
Officer
$0 $0 $0
RONNIE CHRONISTER VICE CHAIR 1.00
Officer
$0 $0 $0
DR KAROCKAS WATKINS VICE CHAIR 1.00
Officer
$0 $0 $0
BLAKE BENTLEY VICE CHAIR 1.00
Officer
$0 $0 $0
JIM ROGERS VICE CHAIR 1.00
Officer
$0 $0 $0
JOE RITCH VICE CHAIR 1.00
Officer
$0 $0 $0
JAMIE PEYTON VICE CHAIR 1.00
Officer
$0 $0 $0
SEAN KELLY CHAIR-APPOINTED 1.00
Officer
$0 $0 $0
JASON PUCKET CHAIR-APPOINTED 1.00
Officer
$0 $0 $0
FRANK WILLIAMS CHAIR-APPOINTED 1.00
Officer
$0 $0 $0
TOMMY BATTLE EX-OFFICIO MEMBER 1.00
Officer
$0 $0 $0
PAUL FINLEY EX-OFFICIO MEMBER 1.00
Officer
$0 $0 $0
DALE STRONG EX-OFFICIO MEMBER 1.00
Officer
$0 $0 $0
CHIP CHERRY PRESIDENT & CEO 40.00
Key Emp
$327,731 $61,153 $388,884
ERIN KOSHUT EMPLOYEE 40.00
Highest
$117,482 $891 $118,373
LUCIA CAPE EMPLOYEE 40.00
Highest
$163,501 $26,681 $190,182
MICHAEL WARD EMPLOYEE 40.00
Highest
$124,263 $1,125 $125,388
MARY MCNAIRY EMPLOYEE 40.00
Highest
$109,237 $1,732 $110,969
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 No data No data No data No data
2023 $6,251,032 $5,960,950 $6,343,164 $290,082
2022 $5,870,991 $5,862,505 $6,396,999 $8,486
2021 $4,392,639 $4,364,309 $6,204,851 $28,330
2020 $4,116,161 $4,151,876 $6,242,371 $-35,715
2019 $5,143,318 $5,049,943 $6,090,775 $93,375
2018 $4,805,714 $4,863,296 $5,896,842 $-57,582
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