Greater Ohare Association Of Industry & Commerce
- Assets
- $203.4k
- Revenue
- $343.5k
- Investments
- $0.0
- Employees
- 6
- Location
- Itasca, IL
- Founding
- 04/1972
- Data as of
- 12/2021
- EIN
- 23-7108550
Organization Overview
Greater Ohare Association Of Industry & Commerce is located in Itasca, IL. The organization was established in 1972. 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 12/2021, Greater Ohare Association Of Industry & Commerce employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Ohare Association Of Industry & 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 12/2021, Greater Ohare Association Of Industry & Commerce generated $343.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.2%) each year. All expenses for the organization totaled $333.4k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (6.5%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
OUR FOCUS IS TO PROVIDE MEMBERS WITH UNIQUE BUSINESS AND PERSONAL DEVELOPMENT THROUGH NETWORKING, EDUCATION AND MARKETING OPPORTUNITIES. WE ARE COMMITTED TO GROWING AND SUSTAINING A STRONG REGIONAL COMMUNITY BY PROVIDING BUSINESS ADVOCACY FOR OUR MEMBER COMPANIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE MEETINGS FOR MEMBERS TO PROMOTE THE IMPROVEMENT OF BUSINESS CONDITIONS IN THE LOCAL AREA AND TO DISSEMINATE INFORMATION TO MEMBERS
PROVIDE SEMINARS TO MEMBERS TO PROVIDE INFORMATION RELEVANT TO THE IMPROVEMENT OF LOCAL BUSINESS CONDITIONS
PROVIDE DATA ON LOCAL AREA BUSINESS CONDITIONS THROUGH SURVEY INFORMATION AND NEWSLETTERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shirlanne Lemm Secretary/executive Direct | OfficerTrustee | 40 | $54,702 |
Amie Granger Chairman | OfficerTrustee | 1 | $0 |
Kelley Hare Treasurer | OfficerTrustee | 1 | $0 |
E Jason Tremblay Of Council | OfficerTrustee | 1 | $0 |
Jim Griseto Past Chair | OfficerTrustee | 1 | $0 |
Matt Harold Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $185,094 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $185,094 |
| Total Program Service Revenue | $123,080 |
| Investment income | $248 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $32,408 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $343,548 |
| 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. | $54,702 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $109,130 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $9,480 |
| Payroll taxes | $13,100 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,246 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,868 |
| Office expenses | $1,153 |
| Information technology | $9,774 |
| Royalties | $0 |
| Occupancy | $45,691 |
| Travel | $2,870 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,695 |
| Interest | $2,016 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,892 |
| All other expenses | $7,483 |
| Total functional expenses | $333,408 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,002 |
| Savings and temporary cash investments | $173,410 |
| Pledges and grants receivable | $0 |
| 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 | $203,412 |
| Accounts payable and accrued expenses | $312 |
| 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 | $312 |
| Net assets without donor restrictions | $203,100 |
| 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 | $203,412 |
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