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Business High Point INC

Not tax-deductible

High Point, NC501(c)(6)Mutual / membership EIN 56-0473292Revenue $1.6M in FY2024Latest return filed Nov 17, 2025

On file with the IRSbhpchamber.orgHigh Point, NCTax-exempt since Nov 1944

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The mission of Business High Point, INC. Is to be the champion of free enterprise for High Point and the triad region. The chamber wants to assist all of our members and the community at large to prosper and advance by providing service to support and foster an environment in which the community can thrive. The chamber strives to continuously be informed and keep members informed of the issues that effect Business today. The chamber offers access to expert advice through forums and seminars, as well as assistance connecting members to experts through our membership network.

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
$170K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average surplus $652K a year · 31% of revenue · last 5 filings
Worth a look: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$170K
to officers and key staff · 10% of spending
Looks good: pay to officers and key staff is 10% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
21 mo
of spending, in cash
Looks good: 20.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $20K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$4.2M
100% of total assets
Concern: liabilities are 100% of assets; over 80%.
Pt X · Ln 26
Independent board members
35
of 35 voting members
Looks good: 35 of 35 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.6M
-15% vs prior year
Spent
$1.7M
Net assets
$8K
By yearFY2020–FY2024
Revenue
$1.6M
FY2024▼ -15%
Tap a bar for its year
Revenue by fiscal year
FY2020$860K
FY2021$850K
FY2022$5.2M
FY2023$1.9M
FY2024$1.6M
Expenses
$1.7M
FY2024▼ -13%
Tap a bar for its year
Expenses by fiscal year
FY2020$947K
FY2021$1.0M
FY2022$1.5M
FY2023$2.0M
FY2024$1.7M
Net assets
$8K
FY2024▼ -94%
Tap a bar for its year
Net assets by fiscal year
FY2020−$425K
FY2021−$604K
FY2022$3.2M
FY2023$140K
FY2024$8K

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 1944.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

36 people listed on the 990; $170K paid to officers and key staff.

Part VII, Section A · reportable compensation
Rachel Collins
President & CEO
$169,950Pt VII · Sec A
$0Pt VII · Sec A
Lenny Peters
Director
$0Pt VII · Sec A
Chris Dunbar
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Deno Adkins
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Patrick Chapin——$185,449$184,122$150,889
Rachel Collins$169,950$173,167—$117,399—
Rachel E Gauldin——$129,407——
Rachel Moss Gauldin————$88,356

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Business High Point INC executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Champions free enterprise, helping businesses and the community thrive through expert advice and networking.

Questions for Business High Point INC

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Your first name shows with your question. Business High Point INC answers here, for everyone.

1 program · in their own filed words · FY2024
01

Business high point, inc. Encourages a positive business environment in the high point area. It supports business leadership development. It also fosters interaction among various members of the business community through forums such as "business after hours and the "business expo".

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
High Point Regional HealthFY2024$20K
Total grants receivedfrom 1 funder$20K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.6M
Ln 12
Fees for servicesLn 2g$1.0M
Gifts and grantsLn 1h$519K
Investment incomeLn 3$59K
Money outPt IX
$1.7M
Ln 25
Owns and owesPt X
$8K
net assets · Ln 32
Cash and savingsLn 1–2$3.0M
Total assetsLn 16$4.2M
LiabilitiesLn 26$4.2M
PeoplePt VI, VII
36
listed · VII A
PaidVII A1
Voting boardVI 1a35
IndependentVI 1b35
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$519K
Government grantsLn 1e$419K
Fees for servicesLn 2g$1.0M
Investment incomeLn 3$59K
Total revenueLn 12$1.6M
Assets in detailPt X, end of year
CashLn 1$3.0M
Cash and savings togetherLn 1–2$3.0M
Accounts receivableLn 4$267K
Land, buildings, equipmentLn 10c$959K
Total assetsLn 16$4.2M
LiabilitiesLn 26$4.2M
Net assetsLn 32$8K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$232K$3.0M
Land, buildings, equipmentLn 10c$1.0M$959K
Total assetsLn 16$3.9M$4.2M
LiabilitiesLn 26$3.8M$4.2M
Net assetsLn 32$140K$8K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$181K
Other salaries and wagesLn 7$495K
Other employee benefitsLn 9$85K
Payroll taxesLn 10$53K
Management feesLn 11a$49K
Legal feesLn 11b$140
Accounting feesLn 11c$46K
Lobbying feesLn 11d$74K
Office expensesLn 13$30K
OccupancyLn 16$37K
TravelLn 17$64K
Conferences, conventions and meetingsLn 19$27K
Depreciation, depletion and amortizationLn 22$45K
InsuranceLn 23$13K
Other expenses (24a–d)Ln 24$473K
All other expensesLn 24e$74K
Total functional expensesLn 25$1.7M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest ViewingFiled with the IRS Nov 17, 2025 $1.6M$1.7M−$132K$8K 990 PDF
FY2023Filed with the IRS Sep 25, 2025 $1.9M$2.0M−$121K$140K 990 PDF
FY2022Filed with the IRS Nov 15, 2023 $5.2M$1.5M$3.8M$3.2M 990 PDF
FY2021Filed with the IRS Feb 15, 2023 $850K$1.0M−$179K−$604K 990 PDF
FY2020Filed with the IRS Nov 15, 2021 $860K$947K−$87K−$425K 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $1,613,170 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $928,919$519,338
I-9 Program service revenuePrior year $885,652$1,034,594
I-10 Investment incomePrior year $69,326$59,238
I-11 Other revenuePrior year $4,022$0
I-12 Total revenuePrior year $1,887,919$1,613,170
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $774,039$812,981
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,235,351$931,956
I-18 Total expensesPrior year $2,009,390$1,744,937
I-19 Revenue less expensesPrior year −$121,471−$131,767
Part VI · Governance 35 of 35 board members independent, no flags
VI-1a Voting members of the governing body35
VI-1b Independent voting members35
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,613,170 across 6 lines filed
Lines not itemized here account for $61,156 of total revenue; see the IRS return.
VIII-1e Government grants$419,338
VIII-1f All other contributions, gifts and grants$100,000
VIII-1h Total contributions, gifts and grants$519,338
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $973,438$973,438
VIII-3 Investment incomeExcluded from tax $59,238$59,238
VIII-12 Total revenueRelated to mission $1,034,594 · Unrelated business $0 · Excluded from tax $59,238$1,613,170
Part IX · Statement of functional expenses $1,744,937 across 16 lines filed
IX-5 Pay of current officers, directors and key staff$180,698
IX-7 Other salaries and wages$494,556
IX-9 Other employee benefits$84,995
IX-10 Payroll taxes$52,732
IX-11a Management fees$49,208
IX-11b Legal fees$140
IX-11c Accounting fees$45,788
IX-11d Lobbying fees$74,459
IX-13 Office expenses$29,860
IX-16 Occupancy$36,660
IX-17 Travel$64,097
IX-19 Conferences, conventions and meetings$26,858
IX-22 Depreciation, depletion and amortization$45,478
IX-23 Insurance$12,558
IX-24 Other expenses (24a–d)$473,323
IX-24e All other expenses$73,527
IX-25 Total functional expenses$1,744,937
Part X · Balance sheet $4,220,945 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $231,506$2,994,511
X-4 Accounts receivableStart of year $217,468$267,103
X-9 Prepaid expenses and deferred chargesStart of year $10,000$0
X-10c Land, buildings and equipment, netStart of year $1,015,994$959,331
X-16 Total assetsStart of year $3,909,270$4,220,945
X-17 Accounts payable and accrued expensesStart of year $127,235$51,191
X-19 Deferred revenueStart of year $2,204,910$2,786,822
X-25 Other liabilitiesStart of year $1,437,564$1,375,138
X-26 Total liabilitiesStart of year $3,769,709$4,213,151
X-27 Net assets without donor restrictionsStart of year $139,561$7,794
X-32 Total net assets or fund balancesStart of year $139,561$7,794
X-33 Total liabilities and net assetsStart of year $3,909,270$4,220,945
Part XI · Reconciliation of net assets $7,794 net assets at year end
XI-1 Total revenue$1,613,170
XI-2 Total expenses$1,744,937
XI-3 Revenue less expenses−$131,767
XI-4 Net assets at start of year$139,561
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$7,794

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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