Wisconsin Lgbt Chamber Of Commerce Inc
- Assets
- $356.1k
- Revenue
- $711.7k
- Investments
- $0.0
- Employees
- 8
- Location
- Milwaukee, WI
- Founding
- 05/2014
- Data as of
- 12/2023
- EIN
- 46-1062617
Organization Overview
Wisconsin Lgbt Chamber Of Commerce Inc is located in Milwaukee, WI. The organization was established in 2014. 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, Wisconsin Lgbt Chamber Of Commerce Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wisconsin Lgbt Chamber Of Commerce Inc 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, Wisconsin Lgbt Chamber Of Commerce Inc generated $711.7k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 23.8% each year . All expenses for the organization totaled $783.3k during the year ending 12/2023. While expenses have increased by 28.1% per year over the past 8 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
MEMBERSHIP SERVICES PROMTING ECONOMIC GROWTH AND OPPORTUNITIES BY CONNECTING PEOPLE, AND EDUCATION FOR ECONOMIC DEVELOPMENT. PUBLIC OUTREACH AND EXTERNAL AFFAIRS FOR THE LGBT COMMUNITY, NETWORKING, AND SOCIAL EVENTS TO BUILD A STRONGER COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING 2023, THE WISCONSIN LGBT CHAMBER ACCOMPLISHED ITS GOAL TO CREATE A MORE INCLUSIVE BUSINESS COMMUNITY BY EXPANDING AND ENHANCING PROGRAMS AND SERVICES TO MEMBERS. THIS WAS DONE THROUGH A CONTINUTED EXPANSION OF OUR 1-ON-1 TECHNICAL ASSISTANCE TRAININGS TO AID BUSINESSES IN THEIR GROWTH AND DEVELOPMENT. THE CHAMBER ALSO FOCUSED ON ENHANCING EXSISTING PROGRAMS LIKE THE BUSINESS LEADERSHIP ACADEMY AND LGBT WORKPLACE ALLIANCE, AND LAUNCHED ENTREPRENEUR BOOTCAMP TO HELP SUPPORT GROWTH OF NEW BUSINESSES. THE ORGANIZATION ADDITIONALLY FOCUSED ON INCREASING THE NUMBER OF CERTIFIED LGBTBES IN WISCONSIN AND HELPING TO SUPPORT CORPORATE PROCUREMENT OFFICERS IN USING MORE DIVERSE SUPPLIERS. THE ORGANZATION ENDED THE YEAR WITH 663 BUSINESSES AS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy Posnanski Chairman | OfficerTrustee | 1 | $0 |
Jason Rae CEO | OfficerTrustee | 40 | $0 |
Cris Selin Treasurer | Trustee | 1 | $0 |
Jorna Taylor Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $282,650 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $389,854 |
| All other contributions, gifts, grants, and similar amounts not included above | $115 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $672,619 |
| Total Program Service Revenue | $38,807 |
| Investment income | $275 |
| 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 | $711,701 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $303,077 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $22,762 |
| Payroll taxes | $26,602 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,301 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $175,598 |
| Advertising and promotion | $14,659 |
| Office expenses | $24,317 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $64,055 |
| 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 | $0 |
| Insurance | $3,876 |
| All other expenses | $56,119 |
| Total functional expenses | $783,283 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $216,954 |
| Savings and temporary cash investments | $11,309 |
| Pledges and grants receivable | $127,851 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $356,114 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $152,851 |
| 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 | $148 |
| Total liabilities | $152,999 |
| Net assets without donor restrictions | $203,115 |
| 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 | $356,114 |