Flagstaff Area Business Association
- Assets
- $2.7k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Carrabassett Valley, ME
- Founding
- 03/2019
- Data as of
- 12/2021
- EIN
- 01-0509959
Organization Overview
Flagstaff Area Business Association is located in Carrabassett Valley, ME. The organization was established in 2019. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Flagstaff Area Business Association 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, Flagstaff Area Business Association generated $47.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (6.8%) each year. All expenses for the organization totaled $60.4k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (10.7%) per year over the past 3 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
UPDATED AND MAINTAINED WEBSITE FOR MEMBER BUSINESSES. PRINT AND DIGITAL ADS IN PUBLICATIONS SUCH AS MAINE INVITES YOU, MAINE TOURISM CENTER, WEST COAST MAINE, THE ORIGINAL IRREGULAR, DISCOVER MAINE. ALL MEMBER BUSINESSES BENEFITED FROM THESE ADS. REPRINTED MAINE'S NORTHWESTERN MOUNTAINS HIKING MAP AND THE FLAGSTAFF VALLEY BELOW MAP. ALL TOURIST BENEFIT FROM HAVING THIS MAP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joni Blanchard Director | 30 | $14,400 | |
Richard Copeland Director | 2 | $0 | |
Faron Fahy Director | 5 | $0 | |
Tom Augat Director | 2 | $0 | |
Douglas Archer President/treasurer | 35 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $32,798 |
| Total Program Service Revenue | $0 |
| Membership dues | $14,287 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $47,085 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $14,400 |
| Professional fees and other payments to independent contractors | $21,815 |
| Occupancy, rent, utilities, and maintenance | $1,748 |
| Printing, publications, postage, and shipping | $9,877 |
| Other expenses | $12,572 |
| Total expenses | $60,412 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $2,694 |
| Other assets | $0 |
| Total assets | $2,694 |
| Total liabilities | $0 |
| Net assets or fund balances | $2,694 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Granite State Economic Development Corp Portsmouth, NH | $20,832,618 | $9,324,758 |
Maine Development Foundation Hallowell, ME | $970,799 | $2,681,444 |
Maine Tourism Association Hallowell, ME | $2,552,212 | $2,806,092 |
Maine Manufacturing Extension Partnership Augusta, ME | $1,279,245 | $1,939,009 |
Rockingham Economic Development Corporation Raymond, NH | $17,369,754 | $4,323,565 |
Kennebec Valley Council Of Governments Fairfield, ME | $3,745,709 | $1,561,553 |
Main Street Skowhegan Skowhegan, ME | $357,285 | $771,437 |
Convention Visitors Bureau Of Greater Portland Portland, ME | $563,151 | $741,115 |
Walpole Foundation Walpole, NH | $9,906,634 | $599,898 |
New Hampshire Lodging And Resturant Association Concord, NH | $788,383 | $690,976 |
Central Maine Growth Council Waterville, ME | $350,733 | $607,931 |
Grafton County Economic Development Council Plymouth, NH | $4,974,864 | $573,300 |