Norfolk Chamber Of Commerce
- Assets
- $421.5k
- Revenue
- $819.6k
- Investments
- $0.0
- Employees
- 11
- Location
- Norfolk, NE
- Founding
- 04/1975
- Data as of
- 03/2022
- EIN
- 47-0253970
Organization Overview
Norfolk Chamber Of Commerce is located in Norfolk, NE. The organization was established in 1975. 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 03/2022, Norfolk Chamber Of Commerce employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Norfolk 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 03/2022, Norfolk Chamber Of Commerce generated $819.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $696.3k during the year ending 03/2022. While expenses have increased by 0.8% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
BENEFIT MEMBERS THROUGH VARIOUS PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM SERVICE ACTIVITY IS ALL OF A NATURE THAT IS NORMAL AND CUSTOMARY FOR A CITY CHAMBER OF COMMERCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Denise Wilkinson Past Preside | Officer | 50 | $34,795 |
Austen Hagood President/ce | Officer | 50 | $32,615 |
Kyle Deets Chair | OfficerTrustee | 1 | $0 |
Brad Dinkel Past Chair | OfficerTrustee | 1 | $0 |
Austin Funk Vice Chair | OfficerTrustee | 1 | $0 |
Rachel Reiser Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $118,478 |
| 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 | $118,478 |
| Total Program Service Revenue | $682,488 |
| Investment income | $511 |
| 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 | $819,619 |
| 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. | $83,910 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $197,429 |
| Pension plan accruals and contributions | $5,011 |
| Other employee benefits | $4,754 |
| Payroll taxes | $22,880 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,320 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,796 |
| Office expenses | $33,674 |
| Information technology | $4,792 |
| Royalties | $0 |
| Occupancy | $42,055 |
| Travel | $4,212 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $750 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,252 |
| Insurance | $3,894 |
| All other expenses | $9,299 |
| Total functional expenses | $696,262 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $335,498 |
| Savings and temporary cash investments | $77,613 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,649 |
| 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 | $2,475 |
| Net Land, buildings, and equipment | $3,293 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $421,528 |
| Accounts payable and accrued expenses | $38,366 |
| Grants payable | $0 |
| Deferred revenue | $83,253 |
| 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 | $121,619 |
| Net assets without donor restrictions | $299,909 |
| 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 | $421,528 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Norfolk Chamber Of Commerce has recieved totaling $17,000.
| Awarding Organization | Amount |
|---|---|
Faith Regional Health Services Norfolk, NE PURPOSE: SPONSORSHIPS | $17,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dairy Promotion Inc Kansas City, KS | $585,537 | $75,669,129 |
National Cattlemens Beef Association Inc Centennial, CO | $34,892,254 | $54,202,215 |
United States Meat Export Federation Inc Denver, CO | $20,783,822 | $49,870,327 |
Iowa Soybean Association Ankeny, IA | $41,040,308 | $49,594,198 |
Mgma-Acmpe Englewood, CO | $54,755,762 | $36,087,217 |
St John Building Corporation St Louis, MO | $229,726,241 | $17,258,959 |
Mountain States Employers Council Inc Denver, CO | $41,916,661 | $36,504,782 |
Vail Valley Foundation Inc Avon, CO | $22,993,237 | $18,789,291 |
National Biodiesel Board Jefferson City, MO | $12,011,947 | $15,134,555 |
Scrum Alliance Inc Westminster, CO | $46,979,666 | $21,000,085 |
Investment Management Consultants Assn Inc Greenwood Village, CO | $30,192,603 | $13,414,601 |
International Association Of Certified Home Inspectors Boulder, CO | $7,671,295 | $15,005,233 |