Hudson Area Chamber Of Commerce
- Assets
- $901.5k
- Revenue
- $563.8k
- Investments
- $0.0
- Employees
- 5
- Location
- Hudson, WI
- Founding
- 11/1956
- Data as of
- 12/2023
- EIN
- 39-1451032
Organization Overview
Hudson Area Chamber Of Commerce is located in Hudson, WI. The organization was established in 1956. 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 12/2023, Hudson Area Chamber Of Commerce employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hudson 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 12/2023, Hudson Area Chamber Of Commerce generated $563.8k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $626.4k during the year ending 12/2023. While expenses have increased by 3.6% 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
TO PROVIDE VALUE TO AND SERVE OUR MEMBERS, PROMOTE A STRONG LOCAL ECONOMY, ADVOCATE FOR THE INTERESTS OF THE BUSINESS COMMUNITY, CHAMPION SUSTAINABILITY, AND MARKET THE RECREATIONAL AND CULTURAL OPPORTUNITIES IN THE HUDSON AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY DEVELOPMENT - PROMOTED COMMUNITY SPIRIT AND DEVELOPMENT THROUGH SPECIAL EVENTS THROUGHOUT THE YEAR.
TOURISM DEVELOPMENT - PROMOTED HUDSON TO INCREASE THE NUMBER OF TOURISTS AND VISITORS TO SUPPORT BUSINESSES IN THE AREA.
WELCOMED 66 NEW MEMBERS AND ACHIEVED 90% RETENTION RATE, RESULTING IN A YEAR END MEMBERSHIP OF 461.EDUCATION - LEADERSHIP AND BUSINESS EDUCATION THROUGH LEADERSHIP HUDSON AND TRAINING PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Angel Duratti Past Chair | OfficerTrustee | 1 | $0 |
Joel Larsen Treasurer | OfficerTrustee | 1 | $0 |
Leanne Van Allen Chair | OfficerTrustee | 1 | $0 |
Maria Machtemes Director | Trustee | 1 | $0 |
Katie Kranz Director | Trustee | 1 | $0 |
Mark Hein Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $189,951 |
| Fundraising events | $156,785 |
| Related organizations | $0 |
| Government grants | $219,132 |
| 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 | $565,868 |
| Total Program Service Revenue | $13,685 |
| Investment income | $9,971 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$25,763 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $563,761 |
| 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. | $121,426 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $76,556 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $11,278 |
| Payroll taxes | $14,302 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,335 |
| Fees for services: Accounting | $47,622 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $837 |
| Fees for services: Other | $140,984 |
| Advertising and promotion | $54,857 |
| Office expenses | $9,769 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $48,567 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $499 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,741 |
| Insurance | $7,811 |
| All other expenses | $2,186 |
| Total functional expenses | $626,419 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $139,153 |
| Savings and temporary cash investments | $188,175 |
| Pledges and grants receivable | $30,000 |
| Accounts receivable, net | $58,446 |
| 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 | $6,154 |
| Net Land, buildings, and equipment | $82,661 |
| Investments—publicly traded securities | $143,953 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $252,939 |
| Total assets | $901,481 |
| Accounts payable and accrued expenses | $30,159 |
| Grants payable | $0 |
| Deferred revenue | $111,137 |
| 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 | $256,432 |
| Total liabilities | $397,728 |
| Net assets without donor restrictions | $366,819 |
| Net assets with donor restrictions | $136,934 |
| 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 | $901,481 |