I saw this post today and wondered how accurate the numbers were. Very interesting.
Sorry to keep kicking the same old horse, but money talks and BS walks, except in Myrtle Beach. Back to the Chamber Federal Tax Returns: They took in $18 M in 2007-2008, and had a Net Loss of $1,017,000. 2008-2009 revenues dropped by $5.6 M to $12.4 M, giving them a Net Loss of $2,563,087. Marketing expenditures dropped by $7.84 M to $9.66 M. Salaries and benefits declined a tiny bit to $2.23 M. Of that, the compensation for Brad Dean totaled $183,986 plus expenses and travel, which, FYI, is more than $40,000 per year more than Tom Leath makes. In 2005-2006 the Chamber reported Net Assets of $4,606,010. As of June 30, 2009 they were in debt $2,563,087. Did we mention that, at the pinnacle of the real estate boom they lost $576,655 on the sale of the 501 Welcome Center? Do you think the new 1% BrAD Tax might have anything to do with the Chamber teetering on the verge of bankruptcy? It certainly is time for somebody in tourism to finally �WAKE UP,� but do not count on it happening.