Marion Chamber Of Commerce
- Assets
- $555.8k
- Revenue
- $622.7k
- Investments
- $0.0
- Employees
- 5
- Location
- Marion, IA
- Founding
- 02/2011
- Data as of
- 08/2023
- EIN
- 27-0607115
Organization Overview
Marion Chamber Of Commerce is located in Marion, IA. The organization was established in 2011. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 08/2023, Marion Chamber Of Commerce employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Marion Chamber Of Commerce is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 08/2023, Marion Chamber Of Commerce generated $622.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $577.4k during the year ending 08/2023. While expenses have increased by 3.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE COMMUNITY, COMMERCE AND CULTURE
Describe the Organization's Program Activity:
Part 3 - Line 4a
MISCELLANEOUS COMMUNITY EXPENSES
MARION ARTS FESTIVAL, RANKED AMOUNG TOP 10% OF ART FESTIVALS NATIONWIDE. OFFERS A FREE FAMILY-FRIENDLY COMMUNITY ART EVENT WITH OVER FIFTY JURIED ARTISTS TO AUDIENCE.
UPTOWN MARION CULTURAL ENTERTAINMENT DISTRICT PROMOTES THE WELL RECOGNIZED, LABELED, MIXED-USE COMPACT AREA OF UPTOWN MARION WITH A HIGH CONCENTRATION OF CULTURAL ANCHORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jill Ackerman President | Officer | 45 | $86,529 |
Patty Webster Board Member | Officer | 2.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $233,729 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $77,850 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $311,579 |
| Total Program Service Revenue | $300,628 |
| Investment income | $4,935 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $622,736 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $93,290 |
| Compensation of current officers, directors, key employees. | $93,290 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $123,516 |
| Pension plan accruals and contributions | $4,795 |
| Other employee benefits | $2,455 |
| Payroll taxes | $16,927 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,717 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $85 |
| Advertising and promotion | $59,769 |
| Office expenses | $12,006 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $34,368 |
| Travel | $14,472 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $844 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,456 |
| Insurance | $7,568 |
| All other expenses | $38,216 |
| Total functional expenses | $577,393 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $238,971 |
| Savings and temporary cash investments | $228,766 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $37,825 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $50,230 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $555,792 |
| Accounts payable and accrued expenses | $1,377 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $18,999 |
| Total liabilities | $20,376 |
| Net assets without donor restrictions | $398,669 |
| Net assets with donor restrictions | $136,747 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $555,792 |