Michigan City Area Chamber Of Commerce Inc
- Assets
- $270.2k
- Revenue
- $341.5k
- Investments
- $0.0
- Employees
- 3
- Location
- Michigan City, IN
- Founding
- 02/1945
- Data as of
- 12/2022
- EIN
- 35-0512630
Organization Overview
Michigan City Area Chamber Of Commerce Inc, operating under the name Michigan City Chamber Of Commerce, is located in Michigan City, IN. The organization was established in 1945. 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 12/2022, Michigan City Chamber Of Commerce employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michigan City 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 12/2022, Michigan City Chamber Of Commerce generated $341.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $318.6k during the year ending 12/2022. While expenses have increased by 2.7% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MICHIGAN CITY CHAMBER OF COMMERCE SERVES TO BE A RESOURCE TO ITS MEMBERS, BUSINESSES, AND THE COMMUNITY TO PROMOTE ECONOMIC GROWTH IN THE MICHIGAN CITY AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CHAMBER MAKES A COMMITMENT TO PROVIDE OUR MEMBERS THE RESOURCES, PARTNERS, AND NETWORKS TO CONNECT, GROW AND THRIVE. WE WILL WORK TO PROVIDE VALUE FOR OUR MEMBERS THROUGH NEW PROGRAMMING, PROMOTIONAL OPPORTUNITIES, AND CELEBRATING OUR MEMBERS' ACHIEVEMENTS. WE ACHIEVE THIS GOAL THROUGH STRUCTURED COMMITTEES AND SPECIALIZED NETWORKING OPPORTUNITIES LIKE OUR YOUNG PROFESSIONALS, MANUFACTURING FORUM AND SMALL BUSINESS RELATIONSHIPS. WE SUPPORT BUSINESSES BY PROVIDING NETWORKING OPPORTUNITIES, BUSINESS WORKSHOPS, AND ADVOCACY. WE PROMOTE MEMBERS BY UTILIZING OUR WEBSITE, SOCIAL MEDIA, AND OUR WEEKLY NEWS.
THE CHAMBER MAKES A COMMITMENT TO ENGAGE WITH COMMUNITY PARTNERS ON PROJECTS AND DEVELOPMENTS THAT WORK TO ENHANCE THE QUALITY OF LIFE OF MICHIGAN CITY, PROVIDE VALUE FOR OUR MEMBERS, AND SHOWCASE THE COMMUNITY IN A POSITIVE WAY IN ORDER TO ATTRACT BOTH TALENT AND VISITORS TO THE AREA. WE ACHIEVE THIS GOAL THROUGH STRATEGIC PARTNERSHIPS WITH OUR CITY ADMINISTRATION, COUNTY OFFICIALS, ECONOMIC DEVELOPMENT ORGANIZATIONS AND OTHERS. STAFF AND BOARD MEMBERS PARTICIPATE IN COMMITTEE WORK OUTSIDE OF THE CHAMBER TO PROVIDE INPUT ON COMMUNITY INITIATIVES AND DEVELOPMENTS THAT ARE IMPORTANT TO OUR MEMBERS.
THE CHAMBER BOARD OF DIRECTORS AND STAFF MAKE A COMMITMENT TO LEARN FROM CHAMBER INDUSTRY EXPERTS TO PUT IN PLACE PROCESSES, POLICIES, AND PROGRAMS THAT STRENGTHEN THE ORGANIZATION IN ORDER FOR IT TO BECOME THE PREMIER BUSINESS ORGANIZATION IN THE MICHIGAN CITY AREA. WE WORK TOWARD THIS GOAL BY ALLOWING STAFF MEMBERS TO PARTICIPATE IN PROFESSIONAL DEVELOPMENT OPPORTUNITIES THAT BRING BACK NEW IDEAS AND PROGRAMMING FOR OUR ORGANIZATION AND ITS MEMBERS. WE ALSO LOOK AT CONTINUALLY IMPROVING OUR OPERATIONS TO ENSURE WE ARE FISCALLY RESPONSIBLE TO OUR MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathryn Eaton President | Officer | 40 | $70,790 |
John Wall Member | Trustee | 1 | $0 |
Megan Applegate Treasurer | OfficerTrustee | 4 | $0 |
Paz Garcia Member | Trustee | 1 | $0 |
Curt Cipares Member | Trustee | 1 | $0 |
William Gertner Past Chair | OfficerTrustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $341,522 |
| Investment income | $9 |
| 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 | $341,531 |
| 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. | $70,790 |
| Compensation of current officers, directors, key employees. | $28,316 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $78,077 |
| Pension plan accruals and contributions | $7,676 |
| Other employee benefits | $29,098 |
| Payroll taxes | $12,991 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,828 |
| Office expenses | $10,929 |
| Information technology | $10,920 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $42,590 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,958 |
| Insurance | $7,408 |
| All other expenses | $12,689 |
| Total functional expenses | $318,586 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $197,735 |
| Pledges and grants receivable | $2,113 |
| Accounts receivable, net | $0 |
| 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 | $70,341 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $270,189 |
| Accounts payable and accrued expenses | $944 |
| Grants payable | $0 |
| Deferred revenue | $72,950 |
| 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 | $0 |
| Total liabilities | $73,894 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $196,295 |
| Total liabilities and net assets/fund balances | $270,189 |