Nome Chamber Of Commerce
- Assets
- $265.1k
- Revenue
- $282.9k
- Investments
- $0.0
- Employees
- 3
- Location
- Nome, AK
- Founding
- 04/1997
- Data as of
- 12/2020
- EIN
- 92-0079541
Organization Overview
Nome Chamber Of Commerce is located in Nome, AK. The organization was established in 1997. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2020, Nome Chamber Of Commerce employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nome 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 12/2020, Nome Chamber Of Commerce generated $282.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.5%) each year. All expenses for the organization totaled $262.1k during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (5.2%) per year over the past 6 years. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE NOME CHAMBER STRIVES TO ENCOURAGE FREE ENTERPRISE AND TRADE, PROMOTE UNIFICATION OF THE BUSINESSS COMMUNITY, PROVIDE A BUSINESS FORUM FOR MEMBERSHIP, ATTRACT NEW INDUSTRY AND COMMERCE, MAINTAIN AND IMPROVE BUSINESS CONDITIONS AND ENCOURAGE GOOD BUSINESS PRACTICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE ECONOMIC DEVELOPMENT FOR THE BENEFIT OF THE RESIDENTS OF NOME, ALASKA AND THE SURROUNDING AREA, APPROXIMATELY 5000 PEOPLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Kosto Executive Director | Officer | 0 | $0 |
Robin Johnson Vice President | Officer | 1 | $0 |
Mark Johnson Treasurer | Officer | 1 | $0 |
Scot Henderson President | Officer | 1 | $0 |
Melissa Ford Secretary | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $3,113 |
| Fundraising events | $1,495 |
| Related organizations | $0 |
| Government grants | $25,407 |
| 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 | $30,015 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $152,104 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $282,858 |
| 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 | $104,593 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,022 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $87,749 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $21,018 |
| Office expenses | $1,828 |
| Information technology | $9,338 |
| Royalties | $0 |
| Occupancy | $12,978 |
| Travel | $878 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $317 |
| Interest | $250 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,912 |
| All other expenses | $5,368 |
| Total functional expenses | $262,080 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $164,638 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $100,475 |
| 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 | $265,113 |
| Accounts payable and accrued expenses | $3,507 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $3,507 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $261,606 |
| 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 | $265,113 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Nome Chamber Of Commerce has recieved totaling $45,000.
| Awarding Organization | Amount |
|---|---|
Alaska State Chamber Of Commerce Anchorage, AK PURPOSE: Sleeves up for Summer Grant | $45,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Anchorage Convention & Visitors Bureau Anchorage, AK | $11,264,868 | $23,092,193 |
Seattle-King County Convention And Visitors Bureau Seattle, WA | $9,612,015 | $12,509,131 |
Western United States Agricultural Trade Association Vancouver, WA | $8,949,340 | $8,386,044 |
Fairbanks Convention And Visitors Bureau Fairbanks, AK | $2,458,123 | $5,662,617 |
Washington Association Of Realtors Olympia, WA | $17,163,792 | $6,357,823 |
Pacific Lumber Inspection Bureau Federal Way, WA | $3,862,387 | $4,417,361 |
Tri-Cities Visitor & Convention Bureau Kennewick, WA | $3,619,128 | $3,350,162 |
Alaska Oil And Gas Association Anchorage, AK | $1,444,563 | $2,236,646 |
Washington Roundtable Seattle, WA | $694,063 | $1,580,926 |
National Center For Apec Seattle, WA | $3,822,560 | $1,598,097 |
Local Development Council Of Tacoma Tacoma, WA | $499,995 | $1,252,672 |
Ypo Inc Kirkland, WA | $618,636 | $929,066 |