Nonprofit · EIN 75-0554920
SHERMAN CHAMBER OF COMMERCE
Tax-exempt (reinstated) · SHERMAN, TX 75090
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $373,155 | $384,351 | -$11,196 | $94,459 | $15,420 | $79,039 |
| December 31, 2023 | 990 | $390,328 | $387,567 | $2,761 | $115,087 | $22,422 | $92,665 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $194,175
- Membership dues
- $194,175
- Program service revenue
- $146,661
- Investment income
- $304
- Net income from fundraising events
- $32,015
- Other revenue
- $32,015
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $0
- Other salaries and wages
- $197,027
- Salaries, compensation and benefits (total)
- $243,308
- Professional fundraising fees
- $0
- Accounting fees
- $7,650
- Occupancy
- $19,151
- Travel
- $169
- Program services (functional)
- $177,972
- Management and general (functional)
- $206,379
Balance sheet and other
- Total assets, start of year
- $115,087
- Total assets, end of year
- $94,459
- Total liabilities, end of year
- $15,420
- Net assets, end of year
- $79,039
- Net assets without donor restrictions
- $79,039
- Gross receipts
- $384,325
- Employees
- 5
- Year formed
- 1938
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 December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| WILL BAIN | Director Trustee or director | 0 | $0 |
| CLAY BARNETT | Director Trustee or director | 0 | $0 |
| DAVID BAYLESS | Director Trustee or director | 0 | $0 |
| JOEY BEASON | Director Trustee or director | 0 | $0 |
| AARON BUCY | Director Trustee or director | 0 | $0 |
| EDWIN CLARK | Director Trustee or director | 0 | $0 |
| KARLA COLWELL | Chairman Trustee or director, Officer | 0 | $0 |
| ASA JESSEE | Director Trustee or director | 0 | $0 |
| TOM JOHNSON | Director Trustee or director | 0 | $0 |
| NILA PATEL | Director Trustee or director | 0 | $0 |
| KEVIN PINCKNEY | Director Trustee or director | 0 | $0 |
| CASIE RIVAS | Director Trustee or director | 0 | $0 |
| TIFFANY SKAGGS | Director Trustee or director | 0 | $0 |
| TODD THOMPSON | Director Trustee or director | 0 | $0 |
| RANDY TRUXAL | Director Trustee or director | 0 | $0 |
2 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| HOPE BAXTER | Director Trustee or director | 0 | $0 |
| SANDY REHKOPF | President Trustee or director, Officer | 0 | $0 |
990 for the year ended December 31, 2023: 17 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| RICK BARNES | DIRECTOR Trustee or director | – | $0 |
| JOEY BEASON | DIRECTOR Trustee or director | – | $0 |
| EDWIN CLARK | DIRECTOR Trustee or director | – | $0 |
| GINA CLAYTON | DIRECTOR Trustee or director | – | $0 |
| KARLA COLWELL | BOARD CHAIR Trustee or director, Officer | – | $0 |
| JASON CRACE | DIRECTOR Trustee or director | – | $0 |
| ASA JESSEE | DIRECTOR Trustee or director | – | $0 |
| MATT MALINAK | DIRECTOR Trustee or director | – | $0 |
| NILA PATEL | DIRECTOR Trustee or director | – | $0 |
| LISA PERKINS | DIRECTOR Trustee or director | – | $0 |
| NATHAN PETRI | DIRECTOR Trustee or director | – | $0 |
| SANDY REHKOPF | PRESIDENT Trustee or director, Officer | – | $0 |
| CASIE RIVAS | DIRECTOR Trustee or director | – | $0 |
| SHAWN TEAMANN | DIRECTOR Trustee or director | – | $0 |
| TODD THOMPSON | DIRECTOR Trustee or director | – | $0 |
| MARK TOOLEY | DIRECTOR Trustee or director | – | $0 |
| MIKE WILLIAMS | DIRECTOR Trustee or director | – | $0 |
Address and contacts
- Address (IRS master file)
- 307 W WASHINGTON ST STE 100, SHERMAN, TX 75090-5883
- Principal officer (990 for 2024)
- KARLA COLWELL, PO Box 1029, Sherman, TX 750911029
- Signed the 990
- KARLA COLWELL, Chairman
- Website
- https://shermanchamber.us
- Return prepared by
- JBRAND HOLDINGS LLC
Mission
TO JOIN CITIZENS /BUSINESSES TOGETHER IN VARIOUS PROGRAMS FOR THE COMMON CAUSE OF IMPROVING AND PROMOTING THE SHERMAN AREA AS A GREAT PLACE TO LIVE AND WORK
Program accomplishments
- TO PROMOTE THE SHERMAN AREA AND ITS BUSINESSES TO THE LOCAL CITIZENS AND OTHER AREAS
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 75-0554920
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 2018
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S41)
- Assets (IRS master file)
- $94,459
- Income (IRS master file)
- $384,325
Revocation and reinstatement
- Exemption revoked
- May 15, 2017
- Posted by the IRS
- August 16, 2017
- Reinstated
- Effective May 15, 2017
From the IRS automatic revocation list: organizations that did not file a required return or e-Postcard for three consecutive years.
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $373,155 | $384,351 | $94,459 | IRS |
| 990 | December 2023 | $390,328 | $387,567 | $115,087 | XML |
| 990 | December 2022 | $377,053 | $339,542 | $112,456 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
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 75-0554920).
Questions about SHERMAN CHAMBER OF COMMERCE
- What is the EIN of SHERMAN CHAMBER OF COMMERCE?
- The employer identification number (EIN) of SHERMAN CHAMBER OF COMMERCE is 75-0554920.
- Is SHERMAN CHAMBER OF COMMERCE tax-exempt?
- Yes. The IRS revoked its exemption on May 15, 2017 and reinstated it effective May 15, 2017.
- Are donations to SHERMAN CHAMBER OF COMMERCE tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does SHERMAN CHAMBER OF COMMERCE file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of SHERMAN CHAMBER OF COMMERCE due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did SHERMAN CHAMBER OF COMMERCE last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of SHERMAN CHAMBER OF COMMERCE?
- The 990 for the year ended December 31, 2024 names KARLA COLWELL.
- Who are the officers and directors of SHERMAN CHAMBER OF COMMERCE?
- The 990 for the year ended December 31, 2024 lists 17 people; 0 received compensation from the organization.
- How much revenue does SHERMAN CHAMBER OF COMMERCE have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $373,155, expenses of $384,351 and total assets of $94,459 at year end.
Other nonprofits in SHERMAN
- SHERMAN NOON LIONS CHARITIES INC EIN 75-2911793 · last filed 990-N for 2024
- SHERMAN SERVICE LEAGUE EIN 75-6020714 · last filed 990 for 2023
- CONNECT2EDUCATE INC EIN 88-1752621 · last filed 990-N for 2023
- DRIVEN LEGACY EIN 39-4569459 · last filed 990-N for 2025
- SHERMAN COLUMBIAN ASSOCIATION EIN 75-2880152 · last filed 990-EZ for 2024
- LAKE TEXOMA PARROT HEAD CLUB EIN 83-1091504 · last filed 990-N for 2025
- LOY PARK IMPROVEMENT ASSOCIATION EIN 81-0607116 · last filed 990-N for 2025
- RESET GROUP EIN 47-1514881 · last filed 990-N for 2025
All nonprofits in SHERMAN · Texas · Community improvement and capacity building