Nonprofit · EIN 47-1878507
WAKE FOREST AREA CHAMBER FOUNDATION
Tax-exempt · WAKE FOREST, NC 27587
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $15,805 | $17,910 | -$2,105 | $66,224 | $0 | $66,224 |
| June 30, 2024 | 990 | $152,814 | $185,428 | -$32,614 | $68,349 | $20 | $68,329 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $667
- Program service revenue
- $15,000
- Investment income
- $138
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $2,855
- Program services (functional)
- $14,508
- Management and general (functional)
- $3,402
Balance sheet and other
- Total assets, start of year
- $68,349
- Total assets, end of year
- $66,224
- Total liabilities, end of year
- $0
- Net assets, end of year
- $66,224
- Net assets without donor restrictions
- $66,224
- Gross receipts
- $15,805
- Employees
- 0
- Year formed
- 2014
- State of legal domicile
- NC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JIM THOMPSON | EXECUTIVE DI Officer | – | $0 |
990 for the year ended June 30, 2024: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JOE KIMRAY | CHAIR Officer | 2 | $0 |
| TISHA LOWE | VICE CHAIR Officer | 2 | $0 |
| ROB MITCHELL | TREASURER Officer | 2 | $0 |
Address and contacts
- Address (IRS master file)
- 350 S WHITE ST, WAKE FOREST, NC 27587-2917
- In care of
- % MARIA AKRIDGE
- Mailing address (990-N for 2019)
- 350 South White Street, Wake forest NC 27587
- Principal officer (990 for 2024)
- JIM THOMPSON
- Principal officer (990-N for 2019)
- Corey Hutcherson, 350 South White Street, Wake forest NC 27587
- Signed the 990
- JIM THOMPSON, EXECUTIVE DIRECTOR
- Phone
- (919) 556-1519
- Return prepared by
- MITCHELL & NEMITZ PA
Mission
THE WAKE FOREST CHAMBER FOUNDATION EXISTS TO PROVIDE EDUCATIONAL OPPORTUNITIES FOR BOTH ADULTS AND YOUTH FOCUSING ON LEADERSHIP, ENTREPRENEURSHIP, FINANCIAL LITERACY AND WORKFORCE DEVELOPMENT INITIATIVES.
Program accomplishments
- TO PROVIDE EDUCATIONAL OPPORTUNITIES FOR BOTH ADULTS AND YOUTH FOCUSING ON LEADERSHIP, ENTREPRENEURSHIP, FINANCIAL LITERACY, AND WORKFORCE DEVELOPMENT INITIATIVES.Expenses $14,508
What it must file and when
IRS records say it files Form 990-N (e-Postcard). Gross receipts normally $50,000 or less. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 47-1878507
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2015
- Accounting year ends
- June
- Files
- Form 990-N (e-Postcard)
- Category (NTEE)
- Community improvement and capacity building (S99)
- Assets (IRS master file)
- $66,224
- Income (IRS master file)
- $15,805
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $15,805 | $17,910 | $66,224 | XML |
| 990 | June 2024 | $152,814 | $185,428 | $68,349 | XML |
| 990 | June 2023 | $274,944 | $275,211 | $100,943 | IRS |
| 990 | June 2022 | – | – | – | IRS |
| 990-EZ | June 2021 | – | – | – | IRS |
| 990-N for 2019 Officer: Corey Hutcherson | June 30, 2020 | ≤ $50,000 receipts | – | – | e-Postcard |
| 990-N for 2018 Officer: Corey Hutcherson | June 30, 2019 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 47-1878507).
Questions about WAKE FOREST AREA CHAMBER FOUNDATION
- What is the EIN of WAKE FOREST AREA CHAMBER FOUNDATION?
- The employer identification number (EIN) of WAKE FOREST AREA CHAMBER FOUNDATION is 47-1878507.
- Is WAKE FOREST AREA CHAMBER FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2015.
- Are donations to WAKE FOREST AREA CHAMBER FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does WAKE FOREST AREA CHAMBER FOUNDATION file?
- Form 990-N (e-Postcard). Gross receipts normally $50,000 or less.
- When is the next return of WAKE FOREST AREA CHAMBER FOUNDATION due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did WAKE FOREST AREA CHAMBER FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of WAKE FOREST AREA CHAMBER FOUNDATION?
- The 990 for the year ended June 30, 2025 names JIM THOMPSON.
- Who are the officers and directors of WAKE FOREST AREA CHAMBER FOUNDATION?
- The 990 for the year ended June 30, 2025 lists 1 person; 0 received compensation from the organization.
- How much revenue does WAKE FOREST AREA CHAMBER FOUNDATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $15,805, expenses of $17,910 and total assets of $66,224 at year end.
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All nonprofits in WAKE FOREST · North Carolina · Community improvement and capacity building