ROGERS-LOWELL AREA CHAMBER OF COMMERCE

EIN: 710029635

ROGERS, AR

Total Revenue
$3,276,659
Total Expenses
$3,170,542
Total Assets
$3,922,592
Net Assets
$2,052,952
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Financial Trends

Organization Details

Formation Year
1922
Legal Domicile
AR
Principal Officer
RAYMOND BURNS
Phone
4796193185
Tax Period
2023-01-01 to 2023-12-31

ROGERS-LOWELL AREA CHAMBER OF COMMERCE, founded in 1922, is a community nonprofit that reported $3.3M in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $3.2M left a modest 3% surplus.

Mission

TO BE THE VOICE OF BUSINESS, TO PROMOTE AND INITIATE RESPONSIBLE ECONOMIC GROWTH, AND TO ADDRESS COMMUNITY CHALLENGES IN THE ROGERS-LOWELL AREA AND THE NORTHWEST ARKANSAS REGION.

Program Service Accomplishments

Program 1
Expenses: $2,443,280 Revenue: $2,106,561

PROGRAMS AND ACTIVITIES DESIGNATED TO PRESERVE, PROMOTE, AND ENHANCE COMMERCE IN THE CITY OF ROGERS, ARKANSAS THROUGH DEVELOPING AND INVOLVING LEADERS, HONORING AND SERVING ALL BUSINESSES IN THE...

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PROGRAMS AND ACTIVITIES DESIGNATED TO PRESERVE, PROMOTE, AND ENHANCE COMMERCE IN THE CITY OF ROGERS, ARKANSAS THROUGH DEVELOPING AND INVOLVING LEADERS, HONORING AND SERVING ALL BUSINESSES IN THE COMMUNITY, PROMOTING FREE ENTERPRISE, AND EDUCATING THE COMMUNITY THROUGH CONFERENCES AND ADVERTISING.THE CHAMBER STAFF ASSISTED 385 INDIVIDUALS SEEKING RESOURCES ON STARTING A SMALL BUSINESS. THE CHAMBER HOSTED OVER 250 STUDENTS ACROSS THE KINDERGARTEN TO JOB (K2J) CONNECT WORKFORCE DEVELOPMENT PROGRAMS FOCUSING ON CAREERS IN HOSPITALITY AND EARLY CHILDHOOD EDUCATION. WE FOSTERED A BUSINESS ENVIRONMENT LEADING TO THE CREATION OF OVER 1,200 JOBS IN THE CITY OF ROGERS, INCLUDING OVER 70 MILLION DOLLARS OF NEW COMMERCIAL DEVELOPMENTS, EITHER ANNOUNCED OR OPENED THROUGHOUT ROGERS.PROGRAMS AND ACTIVITIES DESIGNATED TO PRESERVE, PROMOTE, AND ENHANCE COMMERCE IN THE CITY OF ROGERS, ARKANSAS THROUGH DEVELOPING AND INVOLVING LEADERS, HONORING AND SERVING ALL BUSINESSES IN THE COMMUNITY, PROMOTING FREE ENTERPRISE, AND EDUCATING THE COMMUNITY THROUGH CONFERENCES AND ADVERTISING.THE CHAMBER CONTINUES TO HOLD A FIVE-STAR ACCREDITATION WITH THE U.S. CHAMBER OF COMMERCE. ACCREDITATION WITH THE UNITED STATES CHAMBER OF COMMERCE DEFINES EXCELLENCE IN CHAMBER PLANNING AND RECOGNIZES OUTSTANDING CONTRIBUTIONS TOWARD POSITIVE CHANGE IN THEIR COMMUNITIES. ACCREDITATION STATISTICS, AS JUNE 2023, OUT OF THE 7,000 CHAMBERS IN THE UNITED STATES, ONLY 190 CHAMBERS ARE ACCREDITED. THESE ELITE CHAMBERS REPRESENT THE TOP 4% OF ALL CHAMBERS IN THE UNITED STATES. THE NATIONAL LOCAL AND METRO CHAMBER ACCREDITATION STATISTICS ARE AS FOLLOWS. 2 ARE ACCREDITED 7 ARE 3-STAR 28 ARE 4-STAR 146 ARE 5-STARIN 2023, THE CHAMBER ADDED 245 NEW MEMBERSHIPS WITH A YEAR-END OF 1,969 MEMBERS. HOSTED 301 EVENTS AND PROGRAMS INCLUDING 147 BUSINESS NETWORKING EVENTS FOR OUR MEMBERS.DOWNTOWN ROGERS EXPERIENCED THE GROWTH OF 33 NEW BUSINESSES IN 2023 INCLUDING: ADDITIONS TO THE PROFESSIONAL SERVICES AND VENDOR COMMUNITY: BRANDED, HAIR ON FIRE TECH (A MARKETING FIRM), FREEDOM DREAMER PHOTOGRAPHY, SPECIALIZED HAIL COMPANY, DEMON BIKINI (LIGHT MANUFACTURING), ALTANGL (LIGHT MANUFACTURING).SALONS: TL BEAUTY SCHOOL & SALON, VIP HAIR SALON, HAIROLOGY, EDEN BIRTH & WELLNESS, ANDREA CERTIFIED TRICHOLOGIST, 479 COUNSELING, YOGA STORY DTR, THE BEST MASSAGE SALONENTERTAINMENT: DREW DIVILBISS FINE ART, KALEIDOSCOPE COLLECTIVE, THE MUSIC DEPOT, THE PLACE INRETAIL: BIG E'S CAPS AND ACCESSORIES, C. WHITE'S JEWELRY, THE GINGER GYPSY, THE PARLOUR ROOM/UNDERBRUSH BOOKS RESTAURANTS: CROW'S NEST CAFE, THE CHEF'S GARAGE, PINKY SWEAR, HOUSE 1830, PUB ON THE BRICKS. THERE ARE 133 MULTIFAMILY UNITS UNDER CONSTRUCTION AND 45 MULTIFAMILY UNITS IN PLANNING.VISIT ROGERS CONTINUED TO WORK WITH THE COMMUNITY DRAWING IN VISITORS, GROUPS AND EVENTS INTO THE COMMUNITY. 176 LEADS AND 77,950 ROOM NIGHTS WERE SOURCED IN 2023. IN 2023, OUR STRATEGIC AREAS OF FOCUS INCLUDED DESTINATION MARKETING, ECONOMIC DEVELOPMENT, DOWNTOWN DEVELOPMENT, WORKFORCE RECRUITMENT AND RETENTION, GOVERNMENT AFFAIRS, SMALL BUSINESS OUTREACH, COMMUNITY EDUCATION AND LEADERSHIP PROGRAMS, AND LONG-RANGE COMMUNITY PLANNING TO IMPROVE QUALITY OF LIFE.

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Trantor Score

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,076,600
Program Service Revenue $2,055,457
Investment Income $90,449
Other Revenue $54,153
TOTAL REVENUE $3,276,659

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,033,122
Fundraising Expenses $0
Program Expenses $2,443,280
Other Expenses $1,137,420
TOTAL EXPENSES $3,170,542

Year-over-Year Comparison

2023 2022 Change
Revenue $3,276,659 $2,926,260 +0.1%
Expenses $3,170,542 $2,678,886 +0.2%
Net Income $106,117 $247,374 -0.6%
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
23
Employees
49
Volunteers
126

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
7
$460,844
Total Directors
23
$344,667
Key Employees
0
$0
Highest Compensated
4
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RAYMOND BURNS PRESIDENT/CEO 50.00
Officer Director
$322,815 $21,852 $344,667
JERRY VEST RIDC PRESIDENT 1.00
Officer Director
$0 $0 $0
ERIN KIEFER PAST CHAIRMAN 1.00
Officer Director
$0 $0 $0
MIKE POWER CHAIRMAN 1.00
Officer Director
$0 $0 $0
TOM ALLEN CHAIRMAN ELECT 1.00
Officer Director
$0 $0 $0
RON BRANSCUM DIRECTOR 1.00
Director
$0 $0 $0
DAVID KIMBALL DIRECTOR 1.00
Director
$0 $0 $0
JERRA TOMS DIRECTOR 1.00
Director
$0 $0 $0
TANYA SMITH DIRECTOR 1.00
Director
$0 $0 $0
MELISSA TURPIN DIRECTOR 1.00
Director
$0 $0 $0
KRISTEN BOOZMAN DIRECTOR 1.00
Director
$0 $0 $0
DEAN FISHER DIRECTOR 1.00
Director
$0 $0 $0
ANGELA GRAYSON DIRECTOR 1.00
Director
$0 $0 $0
KNIGHT WEIS DIRECTOR 1.00
Director
$0 $0 $0
STENNETT THOMPKINS DIRECTOR 1.00
Director
$0 $0 $0
MAT MOZZONI DIRECTOR 1.00
Director
$0 $0 $0
PATRICK KERRWOOD DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL PARKER TREASURER 1.00
Officer Director
$0 $0 $0
CHARLOTTE RANKIN DIRECTOR 1.00
Director
$0 $0 $0
GAVEN SMITH DIRECTOR 1.00
Director
$0 $0 $0
BRANDY TUFT DIRECTOR 1.00
Director
$0 $0 $0
JOSH VASQUEZ DIRECTOR 1.00
Director
$0 $0 $0
JOHN-MICHAEL SCURIO DIRECTOR 1.00
Director
$0 $0 $0
VICKIE GROTTS VP ACCOUNTING & FINANCE 50.00
Officer
$103,078 $13,099 $116,177
NELSON E PEACOCK CEO OF NORTHWEST COUNCIL 50.00
Highest
$462,452 $32,229 $494,681
MICHAEL HARVEY COO OF NORTHWEST COUNCIL 50.00
Highest
$261,754 $19,446 $281,200
RYAN CORK HEALTH CARE DIRECTOR OF NW 50.00
Highest
$491,264 $22,176 $513,440
ANTHONY MCLARTY EXECUTIVE DIRECTOR OF GROUNDWORK 50.00
Highest
$271,692 $29,897 $301,589
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 $3,276,659 $3,170,542 $3,922,592 $106,117
2022 $2,926,260 $2,678,886 $2,963,558 $247,374
2021 $3,164,413 $2,815,599 $2,512,519 $348,814
2020 $2,461,238 $2,739,234 $2,181,643 $-277,996
2019 $2,908,772 $2,965,248 $2,104,626 $-56,476
2018 $2,561,280 $2,600,599 $2,081,119 $-39,319
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