Illinois Hotel And Lodging Association
- Assets
- $3.4m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 7
- Location
- Chicago, IL
- Founding
- Data as of
- 12/2023
- EIN
- 36-3507409
Organization Overview
Illinois Hotel And Lodging Association is located in Chicago, IL. As of 12/2023, Illinois Hotel And Lodging Association employed 7 individuals. Illinois Hotel And Lodging Association 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 12/2023, Illinois Hotel And Lodging Association generated $2.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $2.2m during the year ending 12/2023. While expenses have increased by 2.8% per year over the past 9 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
PROVIDES A STRONG VOICE FOR THE INDUSTRY, PROMOTES MEMBER HOTELS, HELPS MEMBERS IMPROVE PROFITABILITY, SPONSORS EDUCATIONAL AND INDUSTRY EVENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION AND PROTECTION OF THE MUTUAL INTEREST AND GENERAL WELFARE OF ITS MEMBERS THROUGH THE CONDUCT OF ANNUAL MEETINGS, NETWORKING, AWARDS AND RECOGNITION EVENTS; MONTHLY NEWSLETTERS, INFORMATION UPDATES, SEMINARS AND REGIONAL MEETING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Jacobson President & CEO | OfficerTrustee | 40 | $347,433 |
Darin Dame Chairman | OfficerTrustee | 2 | $0 |
Kathy Heneghan Vice Chair | OfficerTrustee | 2 | $0 |
Tommie Van Treasurer | OfficerTrustee | 2 | $0 |
Nick Johnson Secretary | OfficerTrustee | 2 | $0 |
Raymond Ceresa Director | Trustee | 2 | $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 | $40,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $40,000 |
| Total Program Service Revenue | $1,795,250 |
| Investment income | $82,959 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $203 |
| Net Income from Fundraising Events | $172,225 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,413,056 |
| 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. | $327,516 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $698,004 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $170,423 |
| Payroll taxes | $67,694 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $303 |
| Fees for services: Accounting | $57,900 |
| Fees for services: Lobbying | $210,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $14,275 |
| Fees for services: Other | $26,958 |
| Advertising and promotion | $70,032 |
| Office expenses | $20,639 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $13,049 |
| Travel | $58,622 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,886 |
| Interest | $0 |
| Payments to affiliates | $18,834 |
| Depreciation, depletion, and amortization | $6,124 |
| Insurance | $6,598 |
| All other expenses | $66,635 |
| Total functional expenses | $2,155,429 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $361,041 |
| Savings and temporary cash investments | $235,240 |
| Pledges and grants receivable | $40,000 |
| Accounts receivable, net | $310,569 |
| 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 | $50,767 |
| Net Land, buildings, and equipment | $8,620 |
| Investments—publicly traded securities | $2,389,127 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,395,364 |
| Accounts payable and accrued expenses | $189,094 |
| Grants payable | $0 |
| Deferred revenue | $457,904 |
| 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 | $646,998 |
| Net assets without donor restrictions | $2,708,366 |
| Net assets with donor restrictions | $40,000 |
| 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 | $3,395,364 |