2024-11-15T08:14:21-06:00 2023-12-31 SMITH & HOWARD ADVISORY LLC 271 17TH STREET NW SUITE 2100 ATLANTA GA 30363 990 2023-01-01 582203456 GERMAN AMERICAN CHAMBER OF COMMERCE OF THE SOUTHERN UNITED STATES INC % BEATE STAGNET GERM 4045866800 271 17TH STREET NW Suite 1750 ATLANTA GA 30363 MATTHIAS HOFFMANN PRESIDENT & CEO 4045866800 2024-11-15 true true SABRE J LINAHAN P01372980 4048746244 2024-11-15 2023 2024-10-15 13:58:12Z MATTHIAS HOFFMANN 271 17TH STREET NW1750 ATLANTA GA 30363 3906108 false X www.gaccsouth.com X 1995 GA To support, promote, and maximize trade and investment relationships between the Federal Republic of Germany and the southern United States. 29 28 32 40 0 0 0 0 3133061 3875222 0 -17030 199506 26038 3332567 3884230 0 0 0 0 2028050 2205643 0 0 0 1177980 1575596 3206030 3781239 126537 102991 3475642 3649561 1930475 1975545 1545167 1674016 To support, promote, and maximize trade and investment relationships between the Federal Republic of Germany and the southern United States. false false THE GERMAN AMERICAN CHAMBER OF COMMERCE ("GACC", THE ORGANIZATION) PROMOTES TRADE AND BUSINESS BETWEEN COMPANIES AND ORGANIZATIONS IN GERMANY AND THE SOUTHERN UNITED STATES (US). GACC'S SERVICE PORTFOLIO IS COMPRISED OF MEMBER SERVICES, INCLUDING EVENTS AND CONSULTING, AS WELL AS HUMAN RESOURCES CAREER SERVICES. THE CONSULTING AREA OFFERS THE FOLLOWING SERVICES: GENERAL ADVICE ON HOW TO DO BUSINESS IN THE US, MARKET RESEARCH, BUSINESS PARTNER SEARCH, TRADE SHOW SUPPORT, AND BUSINESS REPRESENTATION. GACC ALSO SUPPORTS POLITICAL AND BUSINESS DELEGATION TRIPS FROM AND TO GERMANY. OUR SERVICES AIM TO SECURE LONG-TERM SUCCESS BETWEEN THE US AND GERMANY. GACC provides online and print advertising opportunities, highly targeted advertising options that provide businesses with a measurable return on their marketing investment. GACC emphasizes that a strong corporate brand resonates with other business partners and industry representatives. false false false true false false false false false true false false true true true false true false false true false false false false false false false false true false false false false false false false false false false false true false false true 31 0 32 true true true true GM false false false false false false X 29 28 false false false false false false false true true false true true true true true true true true true true false GA X BEATE STAGNET 4045866800 271 17TH STREET NW SUITE 1750 ATLANTA GA 30363 MATTHIAS ALEXANDER HOFFMANN PRESIDENT/CEO 50.0 0.0 X X 174933 0 13739 BEATE STAGNET CFO 45.0 0.0 X 135734 0 22904 CRISPIN TEUFEL CHAIRMAN 1.0 0.0 X X 0 0 0 STEVEN MARKHAM VICE CHAIRMAN 1.0 0.0 X X 0 0 0 GERRIT ZWERGEL TREASURER 1.0 0.0 X X 0 0 0 TERI SIMMONS SECRETARY 1.0 0.0 X X 0 0 0 KIRK ATKINSON DIRECTOR 0.5 0.0 X 0 0 0 TOBIAS BRUEGGER DIRECTOR 0.5 0.0 X 0 0 0 DR HENNING BRUNS DIRECTOR 0.5 0.0 X 0 0 0 STEFAN CASPARI DIRECTOR 0.5 0.0 X 0 0 0 WARREN COLTER DIRECTOR 0.5 0.0 X 0 0 0 MANUELE D'AVERSA DIRECTOR 0.5 0.0 X 0 0 0 JONATHAN DAWLEY DIRECTOR 0.5 0.0 X 0 0 0 DR ROBERT ENGELHORN DIRECTOR 0.5 0.0 X 0 0 0 MICHAEL GOEBEL DIRECTOR 0.5 0.0 X 0 0 0 RONALD GROSSE DIRECTOR 0.5 0.0 X 0 0 0 DR KJELL GRUNER DIRECTOR 0.5 0.0 X 0 0 0 CHRISTIAN HALPAUS DIRECTOR 0.5 0.0 X 0 0 0 SONJA HEINRICH DIRECTOR 0.5 0.0 X 0 0 0 DR MICHAEL JACQUORIE DIRECTOR 0.5 0.0 X 0 0 0 DR UDO LANGE DIRECTOR 0.5 0.0 X 0 0 0 MARC MERRILL DIRECTOR 0.5 0.0 X 0 0 0 LARS OLTMANNS DIRECTOR 0.5 0.0 X 0 0 0 DIMITRIS PSILLAKIS DIRECTOR 0.5 0.0 X 0 0 0 MIRKO SCHUEPPEL DIRECTOR 0.5 0.0 X 0 0 0 ARNOLD SERVO DIRECTOR 0.5 0.0 X 0 0 0 BURKHARD ULRICH DIRECTOR 0.5 0.0 X 0 0 0 SUNITHA VEGERLA DIRECTOR 0.5 0.0 X 0 0 0 CHRISTIAN VORSPEL-RUETER DIRECTOR 0.5 0.0 X 0 0 0 DENNIS WAGNER DIRECTOR 0.5 0.0 X 0 0 0 310667 0 36643 2 false true false 0 0 MEMBER ACTIVITIES 900099 2466113 2466113 SUBSIDY/FUNDING BWI 900099 906588 906588 MEMBERSHIP DUES 900099 502521 502521 3875222 0 0 0 27338 1300 26038 0 26038 26038 3548 20578 -17030 -17030 -17030 0 0 0 0 0 0 0 0 0 0 3884230 3875222 9008 0 0 0 0 347851 0 1695553 0 145186 17053 0 9508 40949 0 0 0 32135 10943 17749 0 0 291807 12272 0 0 0 0 19391 26453 CHAMBER FUNCTIONS 910834 COMPUTER EXPENSES 105147 BAD DEBT EXPENSE 35162 BANK SERVICE CHARGES 30348 32898 3781239 1829474 2468528 0 0 0 0 192435 64516 0 0 0 0 0 0 0 0 128019 53204 262098 219230 57824 42868 0 0 0 0 0 0 0 0 1267890 1020445 3475642 3649561 490111 694771 0 0 318979 405780 0 0 0 0 0 0 0 0 0 0 1121385 874994 1930475 1975545 X 1545167 1674016 0 0 1545167 1674016 3475642 3649561 102991 25858 X false true X true false true true false 0 24115 8739 15376 0 108644 87572 21072 0 129339 122919 6420 42868 RIGHT OF USE ASSET 741586 SECURITY DEPOSITS 28729 INTERCOMPANY ACCOUNTS 250130 1020445 0 LEASE LIABILITY 874994 874994 X PART X, LINE 2 The German American Chamber of Commerce of the Southern United States, Inc. (the "Chamber") is a nonprofit corporation organized under the laws of the State of Georgia on August 18, 1995 for the purpose of providing support, promoting and maximizing trade and investment relationships between the Federal Republic of Germany and the Southern United States. The Chamber formed GACC South Services, LLC (the "LLC") in 2008 as a wholly owned Georgia Limited Liability Company and began operations in 2009. The Chamber is a nonprofit corporation that is exempt from income taxes under Section 501(c)(6) of the Internal Revenue Code except for net income derived from unrelated business activities. The LLC is a taxable corporation. The Chamber and LLC record income tax consequences in accordance with FASB ASC 740. Under the provisions of ASC 740, the Chamber and LLC recognize deferred tax assets and liabilities for future tax consequences of events that have been previously recognized in the Chamber and LLC's financial statements or tax returns. The measurement of deferred tax assets and liabilities is based on provisions of the enacted tax law; the effects of future changes in tax laws or rates are not anticipated. Deferred tax assets arising on deductible temporary differences as well as on tax loss carryforwards are recognized only if it is probable that future taxable profits will be available against which the asset can be utilized. The Organization believes that it has appropriate support for any tax positions taken, including its tax-exempt status, and as such, does not have any uncertain tax positions that are material to the financial statements. The Organization's federal income tax returns are subject to examination by taxing jurisdictions, generally for three years after they are filed. The Organization is current on all tax filings. It is the Organization's policy to include any penalties and interest as income tax expense in the consolidated financial statements. For the years ended December 31, 2023 and 2022, the Organization has no penalties or interest related to income taxes. true Europe (Including Iceland and Greenland) Program Services BUSINESS RELATIONSHIPS 0 0 0 false false false false false false PART I, LINE 2 The Chamber receives funding from the German Ministry/Republic of Germany to support the Chamber in the Mission to conduct bilateral business between the U.S. and Germany. The Chamber receives a funding letter stating what the support is for and how to use the funding. If the Chamber has a better result (net income) than planned, the Chamber needs to pay back a portion of the subsidy the next year and accrue for the payback in the current year financials. The ministry also helps the chamber to support buying fixed assets or paying the administrative staff. Funding is about 25% of the income. The chamber also gets support to bring the German apprenticeship program to the U.S. and establish it with U.S. colleagues. The chamber does not have employees outside the U.S., only in the chamber's region of GA, SC, NC, TX, but the Chamber has 2 contractors working out of Germany. The chamber does not give and does not receive funding from Germany for specific employees. The chamber has a U.S. grant from the Halle foundation to support the pay for one employee and has a project from the State of Rhineland Palestine where they try to establish business from the U.S. to Germany. The Chamber charges the salary and benefits and travel costs of one employee to the project. X false false false MATTHIAS ALEXANDER HOFFMANN PRESIDENT/CEO 174933 0 0 0 0 0 5248 0 8736 0 188917 0 0 0 BEATE STAGNET CFO 129375 0 6359 0 0 0 4072 0 19128 0 158934 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE CFO AND PRESIDENT/CEO. UPON APPROVAL, FORM 990 IS FILED BY THE ORGANIZATION'S TAX PROFESSIONALS IN ACCORDANCE WITH INTERNAL REVENUE SERVICE GUIDELINES. FORM 990, PART VI, LINE 12C ENFORCEMENT OF CONFLICTS POLICY: CONFLICT OF INTEREST POLICIES ARE MONITORED BY THE CFO. IF ANY CONFLICTS OF INTEREST ARE DISCLOSED THEY WOULD BE REVIEWED AND RESOLVED BY THE DIRECTOR. IF A CONFLICT WAS REMAINED RESOLVED, IT WOULD BE BROUGHT BEFORE THE BOARD OF DIRECTORS FOR RESOLUTION. FORM 990, PART VI, LINE 15A Compensation for the President/CEO and the Vice President is determined through approval by the board. FORM 990, PART VI, LINE 15B Compensation for other officers is determined by the President/CEO. FORM 990, PART VI, LINE 19 Governing Documents, policies, and financial statements may be obtained by written request to: German American Chamber of Commerce of the Southern United States, Inc. 271 17th Street, NW Suite 1750 Atlanta, GA 30363. GACC SOUTH SERVICES LLC 271 17TH STREET NW SUITE 1750 ATLANTA GA 30363 262145588 SITE SELECTION GA GACC SOUTH SVCS C-CORP 0 38377 1.00000 true false false false false false false false false false false false false false true false false true false false GACC SOUTH SERVICES LLC Q 250130 INTERCO LOAN