German-American Chamber Of Commerce Of The Midwest
- Assets
- $9.5m
- Revenue
- $9.7m
- Investments
- $0.0
- Employees
- 57
- Location
- Chicago, IL
- Founding
- 10/1965
- Data as of
- 12/2021
- EIN
- 36-2512921
Organization Overview
German-American Chamber Of Commerce Of The Midwest is located in Chicago, IL. The organization was established in 1965. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, German-American Chamber Of Commerce Of The Midwest employed 57 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. German-American Chamber Of Commerce Of The Midwest 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 12/2021, German-American Chamber Of Commerce Of The Midwest generated $9.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.9% each year . All expenses for the organization totaled $9.1m during the year ending 12/2021. While expenses have increased by 16.6% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO FURTHER, PROMOTE, IMPROVE AND EXPAND TRADE BETWEEN GERMANY AND THE UNITED STATES OF AMERICA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INFORMATIONAL SERVICES - PROVIDES ESTABLISHMENT OF CONTACT BETWEEN US AND GERMAN IMPORT/EXPORTERS, REFERRAL OF SUPPLY SOURCES & INFORMATION ON TARIFF, RATES & CUSTOMS
MEETINGS - VARIOUS EVENTS WITH GERMAN & US SPEAKERS ON INTERNATIONAL TRADE, PROVIDES ENVIRONMENT FOR BUSINESS CONTACT AND INFORMATION EXCHANGE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Tomkins President & | OfficerTrustee | 40 | $197,200 |
Matthew Wallace Treasurer | OfficerTrustee | 40 | $139,571 |
Mario Kratsch Secretary | OfficerTrustee | 40 | $125,000 |
Mr Peter Riehle Chairman | OfficerTrustee | 1 | $0 |
Uwe Schoberth Vice Chairma | OfficerTrustee | 1 | $0 |
Mehdi Bentanfous Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,485,119 |
| All other contributions, gifts, grants, and similar amounts not included above | $140,026 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,625,145 |
| Total Program Service Revenue | $7,008,100 |
| Investment income | $286 |
| 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 | $9,672,106 |
| 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. | $461,771 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,663,302 |
| Pension plan accruals and contributions | $182,555 |
| Other employee benefits | $483,483 |
| Payroll taxes | $231,871 |
| Fees for services: Management | $475,481 |
| 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 | $26,300 |
| Advertising and promotion | $20,856 |
| Office expenses | $47,435 |
| Information technology | $4,030 |
| Royalties | $0 |
| Occupancy | $841,280 |
| Travel | $69,897 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,688 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $367,252 |
| Insurance | $66,782 |
| All other expenses | $340,007 |
| Total functional expenses | $9,107,615 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,322,839 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,237,784 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $62,504 |
| Prepaid expenses and deferred charges | $64,336 |
| Net Land, buildings, and equipment | $335,518 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,514,442 |
| Total assets | $9,537,423 |
| Accounts payable and accrued expenses | $1,721,173 |
| Grants payable | $0 |
| Deferred revenue | $407,859 |
| 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 | $4,315,144 |
| Total liabilities | $6,444,176 |
| Net assets without donor restrictions | $3,087,637 |
| Net assets with donor restrictions | $5,610 |
| 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 | $9,537,423 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that German-American Chamber Of Commerce Of The Midwest has recieved totaling $44,250.
| Awarding Organization | Amount |
|---|---|
Illinois Manufacturers Association Education Foundation Springfield, IL PURPOSE: SUPPORT OF IAAC GRANT | $44,250 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Indiana Chamber Of Commerce Inc Indianapolis, IN | $7,894,910 | $10,261,881 |
Greater Indianapolis Chamber Of Commerce Inc Indianapolis, IN | $15,080,070 | $11,498,115 |
German-American Chamber Of Commerce Of The Midwest Chicago, IL | $9,537,423 | $9,672,106 |
Greater Milwaukee Convention & Visitors Bureau Inc Milwaukee, WI | $13,303,680 | $5,924,757 |
The Chicago Association Of Realtors Inc Chicago, IL | $11,107,922 | $7,821,690 |
Illinois Small Business Growth Corporation Springfield, IL | $2,478,514 | $7,890,542 |
Mainstreet Organization Of Realtors Downers Grove, IL | $23,598,352 | $9,176,226 |
International Society Of Transport Aircraft Traders Chicago, IL | $15,949,487 | $6,305,891 |
Indiana Association Of Realtors Inc Indianapolis, IN | $16,694,252 | $6,642,922 |
Better Business Bureau Of Greater St Louis Inc St Louis, MO | $4,281,553 | $5,139,066 |
Louisville Chamber Of Commerce Inc Louisville, KY | $4,510,911 | $5,726,033 |
Springfield Convention And Visitors Springfield, MO | $1,284,082 | $4,581,352 |