TIN:
SCHEDULE O
(Form 990)
Department of the Treasury
Internal Revenue Service
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ
Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2021
Open to Public
Inspection
Inspection
Name of the organization
COASTAL ALABAMA BUSINESS CHAMBER INC
Employer identification number
63-0837944
63-0837944
| Return Reference | Explanation |
|---|---|
| FORM 990, PART VI, SECTION B, LINE 11B | THE CHAIR OF THE FINANCE COMMITTEE AND THE PRESIDENT/CEO APPROVE THE FORM 990 AND THE ACCOMPANYING SCHEDULES BEFORE IT IS SUBMITTED TO THE IRS. |
| FORM 990, PART VI, SECTION B, LINE 12C | BOARD OF DIRECTORS MONITORS AND ENFORCES THE CONFLICT OF INTEREST POLICY WHEN THE CHAMBER IS CONTEMPLATING ENTERING INTO A TRANSACTION OR ARRANGEMENT THAT MIGHT BENEFIT THE PRIVATE INTEREST OF AN OFFICER OR DIRECTOR OR THAT MIGHT RESULT IN A POSSIBLE EXCESS BENEFIT TRANSACTION. BOARD MEMBERS ELIGIBILITY IS CONTINGENT ON AN ANNUAL SIGNED AGREEMENT WITH THIS POLICY. |
| FORM 990, PART VI, SECTION B, LINE 15A | THE EXECUTIVE COMPENSATION POLICY GOVERNS THE PROCEDURES FOR DETERMINING AND REVIEWING THE COMPENSATION OF THE CHAMBER PRESIDENT/CEO. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE CHAMBER'S GOVERNING DOCUMENT AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST AT THE CHAMBER OFFICE DURING NORMAL BUSINESS HOURS. |
| FORM 990, PART VIII, LINE 1E: | THE ORGANIZATION RECEIVED ONE GRANT FROM THE CITY OF GULF SHORES IN THE AMOUNT OF $100,000 TO BE USED FOR THE ANNUAL SHRIMP FESTIVAL. THE ORGANIZATION ALSO RECEIVED A GRANT FROM GULF SHORES & ORANGE COUNTY TOURISM ORGANIZATION FOR $50,000 TO BE USED FOR THE ANNUAL SHRIMP FESTIVAL. UNDER GUIDANCE OF THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS, THE GRANT FUNDS ARE TO BE RECOGNIZED AS INCOME ONCE ALL THE CONDITIONS OF THE GRANT ARE SUBSTANTIALLY MET OR EXPLICITLY WAIVED. AT THE END OF THEIR FISCAL YEAR, THE ORGANIZATION HAD SUBSTANTIALLY MET ALL CONDITIONS OF THE GRANT AND RECORDED THE PROCEEDS AS GRANT INCOME. |
| FORM 990, PART IX, LINE 24E | SECURITY: PROGRAM SERVICE EXPENSES 52,289. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 52,289. OTHER EXPENSES: PROGRAM SERVICE EXPENSES 21,333. MANAGEMENT AND GENERAL EXPENSES 10,622. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 31,955. REPAIRS & MAINTENANCE: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 22,521. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 22,521. HOSPITALITY: PROGRAM SERVICE EXPENSES 19,073. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 19,073. COMMISSIONS: PROGRAM SERVICE EXPENSES 18,805. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 18,805. AWARDS: PROGRAM SERVICE EXPENSES 17,365. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 17,365. TAXES & LICENSES: PROGRAM SERVICE EXPENSES 7,777. MANAGEMENT AND GENERAL EXPENSES 5,185. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 12,962. TRANSPORTATION: PROGRAM SERVICE EXPENSES 940. MANAGEMENT AND GENERAL EXPENSES 235. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,175. |
| FORM 990, PART XII, LINE 2C: | THE FINANCIAL COMMITTEE OF THE BOARD OF DIRECTORS IS RESPONSIBLE FOR OVERSIGHT OF THE ANNUAL FINANCIAL STATEMENT. PRIOR TO 2020, FINANCIAL STATEMENTS WERE AUDITED EACH YEAR. FOR 2020 AND 2021, THE BOARD ELECTED TO FOREGO AN AUDIT OF THE FINANCIAL STATEMENTS AS A CASH SAVING MEASURE DUE TO NEGATIVE IMPACT BY COVID-19 AND HURRICANE SALLY. FOR 2022, THE BOARD OF DIRECTORS ELECTED TO AUDIT THE ANNUAL FINANCIAL STATEMENTS. |
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990) 2021
Additional Data
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