Mchenry Area Chamber Of Commerce
- Assets
- $493.1k
- Revenue
- $454.9k
- Investments
- $0.0
- Employees
- 6
- Location
- Mchenry, IL
- Founding
- 05/1984
- Data as of
- 12/2021
- EIN
- 36-2992246
Organization Overview
Mchenry Area Chamber Of Commerce is located in Mchenry, IL. The organization was established in 1984. 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 12/2021, Mchenry Area Chamber Of Commerce employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mchenry Area 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 12/2021, Mchenry Area Chamber Of Commerce generated $454.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.5% each year. All expenses for the organization totaled $390.8k during the year ending 12/2021. While expenses have increased by 1.5% 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
THE ORGANIZATION SPONSORS AND ORGANIZES COMMUNITY EVENTS TO PROMOTE NETWORKING OPPORTUNITIES FOR LOCAL BUSINESSES AND PROMOTE A POSITIVE COMMUNITY IDENTITY. IT KEEPS MEMBERS INFORMED OF EVENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION SPONSORS AND ORGANIZES COMMUNITY EVENTS TO PROMOTE NETWORKING OPPORTUNITIES FOR LOCAL BUSINESSES AND PROMOTE A POSITIVE COMMUNITY IDENTITY. IT KEEPS MEMBERS INFORMED OF EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Molly Ostap President | OfficerTrustee | 41 | $108,911 |
Becky Kirchner 1st Vice Cha | OfficerTrustee | 1 | $0 |
Cristiano Bimbi Chairman | OfficerTrustee | 1 | $0 |
Carl Vallianatos Corporate Se | OfficerTrustee | 1 | $0 |
Kate Malmstedt Treasurer | OfficerTrustee | 1 | $0 |
Jon Petersen 2nd Vice Cha | OfficerTrustee | 1 | $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 | $174,596 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $174,596 |
| Total Program Service Revenue | $137,439 |
| Investment income | $3,197 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $124,469 |
| Net Income from Gaming Activities | $1,648 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $454,929 |
| 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. | $114,021 |
| Compensation of current officers, directors, key employees. | $24,030 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $107,706 |
| Pension plan accruals and contributions | $2,890 |
| Other employee benefits | $0 |
| Payroll taxes | $17,799 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,391 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $38,175 |
| Advertising and promotion | $1,487 |
| Office expenses | $22,915 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $18,766 |
| Travel | $1,789 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,588 |
| Insurance | $5,982 |
| All other expenses | $11,020 |
| Total functional expenses | $390,768 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $367,120 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $90,483 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,545 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $29,514 |
| Net Land, buildings, and equipment | $3,438 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $493,100 |
| Accounts payable and accrued expenses | $1,389 |
| Grants payable | $0 |
| Deferred revenue | $157,051 |
| 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 | $158,440 |
| Net assets without donor restrictions | $334,660 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $493,100 |
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