Mclean County Chamber Of Commerce
- Assets
- $1.6m
- Revenue
- $985.7k
- Investments
- $0.0
- Employees
- 11
- Location
- Bloomington, IL
- Founding
- 07/1945
- Data as of
- 12/2021
- EIN
- 37-0182200
Organization Overview
Mclean County Chamber Of Commerce is located in Bloomington, IL. 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 12/2021, Mclean County Chamber Of Commerce employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mclean County 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, Mclean County Chamber Of Commerce generated $985.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $746.0k during the year ending 12/2021. 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 SUPPORT AND SERVE OUR MEMBERS, THE MCLEAN COUNTY CHAMBER OF COMMERCE STRIVES TO PROMOTE COMMERCE, ADVOCATE PRO-BUSINESS PROSPECTIVES, COLLABORATE TO LEAD CHANGE, AND ENGAGE IN ACTION FOR RESULTS THAT STRENGTHEN THE PROSPERITY OF THE BUSINESS COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION SPONSORS VARIOUS PROGRAM OF WORK ACTIVITIES TO ENHANCE BUSINESS GROWTH IN THE COMMUNITY. ACTIVITIES INCLUDE: AGRICULTURAL EVENTS, ANNUAL DINNER, BUSINESS AFTER HOURS, BUSINESS SHOWCASES, GOLF OUTINGS, ADMINISTRATIVE PROFESSIONALS LUNCHEONS, LEADERSHIP PROGRAM, ETC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charlie Moore President & | Officer | 40 | $156,938 |
Cheryl Magnuson Chair | OfficerTrustee | 1 | $0 |
Barb Nathan Treasurer | OfficerTrustee | 1 | $0 |
Krishna Balakrishnan Secretary | OfficerTrustee | 1 | $0 |
Nathan Hinch Director | Trustee | 1 | $0 |
Levester Johnson Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $204,520 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $210,520 |
| Total Program Service Revenue | $702,628 |
| Investment income | $8,000 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,361 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $985,711 |
| 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. | $169,197 |
| Compensation of current officers, directors, key employees. | $25,380 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $229,981 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $56,649 |
| Payroll taxes | $31,709 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,260 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,654 |
| Office expenses | $10,957 |
| Information technology | $27,778 |
| Royalties | $0 |
| Occupancy | $56,218 |
| Travel | $1,207 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,927 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,114 |
| Insurance | $8,515 |
| All other expenses | $14,252 |
| Total functional expenses | $745,978 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $475,684 |
| Savings and temporary cash investments | $553,096 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $137,036 |
| 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 | $13,817 |
| Net Land, buildings, and equipment | $295,233 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $118,426 |
| Total assets | $1,593,292 |
| Accounts payable and accrued expenses | $39,116 |
| Grants payable | $0 |
| Deferred revenue | $176,584 |
| 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 | $175,126 |
| Total liabilities | $390,826 |
| Net assets without donor restrictions | $1,135,263 |
| Net assets with donor restrictions | $67,203 |
| 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 | $1,593,292 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Mclean County Chamber Of Commerce has recieved totaling $23,972.
| Awarding Organization | Amount |
|---|---|
Carle Bromenn Medical Center Urbana, IL PURPOSE: MEMBERSHIP INVESTMENT; 2021 COMPACT INVESTMENT; 2022 LEADERS OF DISTINCTION TOPAZ SPONSOR | $23,972 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Statewide Energy Efficiency Andrenewables Administration Inc Madison, WI | $63,794,129 | $99,926,553 |
Information Systems Audit And Control Association Inc Schaumburg, IL | $168,414,298 | $101,751,321 |
International Code Council Inc Country Club Hills, IL | $173,275,221 | $89,069,791 |
American Property Casualty Insurance Association Chicago, IL | $156,045,230 | $59,541,606 |
Healthcare Information And Management Systems Society Chicago, IL | $52,722,997 | $65,054,367 |
Inter-Industry Conference On Auto Collision Repairs Hoffman Estates, IL | $98,841,828 | $60,778,547 |
Iowa Soybean Association Ankeny, IA | $41,040,308 | $49,594,198 |
Society Of Actuaries Professional Association Schaumburg, IL | $48,907,069 | $54,354,624 |
Association Of Equipment Manufacturers Milwaukee, WI | $65,690,987 | $35,929,615 |
Ipc International Inc Bannockburn, IL | $35,069,140 | $30,776,508 |
Apics Inc Chicago, IL | $42,029,595 | $30,789,675 |
International Sanitary Supply Association Rosemont, IL | $73,095,156 | $16,343,711 |