Chicagoland Chamber Of Commerce Foundation
- Assets
- $212.3k
- Revenue
- $387.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 01/1974
- Data as of
- 06/2021
- EIN
- 23-7334589
Organization Overview
Chicagoland Chamber Of Commerce Foundation is located in Chicago, IL. The organization was established in 1974. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chicagoland Chamber Of Commerce Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Chicagoland Chamber Of Commerce Foundation generated $387.2k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.8%) each year. All expenses for the organization totaled $753.2k during the year ending 06/2021. 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
THE CHAMBER FOUNDATION COORDINATES EDUCATIONAL RESOURCES, PROGRAMS, AND RESEARCH TO ADVANCE THE ACTIVITIES OF THE CHAMBER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SMALL BUSINESS DEVELOPMENT CENTER: GRANT TO HELP SMALL BUSINESSES START, GROW, OR EXPAND THEIR BUSINESS.
PROGRAMS: PROVIDE WEBINARS AND SEMINARS ON TOPICS RELATED TO THE FIELDS OF HEALTHCARE, TECHNOLOGY AND MID-MARKET.
TALENT PROGRAM: DEVELOP INNOVATIVE WORKFORCE SOLUTIONS THAT WILL HELP COMPANIES PROVIDE THEIR EMPLOYEES WITH ADDITIONAL SKILLS TO EXPAND THEIR CAPABILITIES.
SMALL BUSINESS DEVELOPMENT CENTER: GRANT TO HELP SMALL BUSINESSES START, GROW, OR EXPAND THEIR BUSINESS.
PROGRAMS: PROVIDE WEBINARS AND SEMINARS ON TOPICS RELATED TO THE FIELDS OF HEALTHCARE, TECHNOLOGY AND MID-MARKET.
TALENT PROGRAM: DEVELOP INNOVATIVE WORKFORCE SOLUTIONS THAT WILL HELP COMPANIES PROVIDE THEIR EMPLOYEES WITH ADDITIONAL SKILLS TO EXPAND THEIR CAPABILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jack Lavin President & CEO | OfficerTrustee | 0.1 | $0 |
Matthew Summy Vice President | OfficerTrustee | 0.1 | $0 |
Valerie Corr Hanserd Director (thru 10/2020) | Trustee | 0.1 | $0 |
Jessica Smith Director (start 10/2020) | Trustee | 0.1 | $0 |
Rich Gamble Director (start 10/2020) | Trustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $131,500 |
| Related organizations | $0 |
| Government grants | $114,492 |
| All other contributions, gifts, grants, and similar amounts not included above | $180,983 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $426,975 |
| Total Program Service Revenue | $0 |
| Investment income | $39 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$39,818 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $387,196 |
| 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 | $396,112 |
| Pension plan accruals and contributions | $3,209 |
| Other employee benefits | $89,049 |
| Payroll taxes | $31,080 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,120 |
| Fees for services: Accounting | $9,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $92,873 |
| Advertising and promotion | $0 |
| Office expenses | $18,265 |
| Information technology | $16,898 |
| Royalties | $0 |
| Occupancy | $76,005 |
| Travel | $1 |
| 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 | $6,934 |
| Insurance | $1,150 |
| All other expenses | $0 |
| Total functional expenses | $753,225 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $52,393 |
| Savings and temporary cash investments | $37,462 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $106,137 |
| 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 | $1,150 |
| Net Land, buildings, and equipment | $15,119 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $212,261 |
| Accounts payable and accrued expenses | $2,500 |
| Grants payable | $0 |
| Deferred revenue | $98,750 |
| 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 | $31,063 |
| Total liabilities | $132,313 |
| Net assets without donor restrictions | $17,686 |
| Net assets with donor restrictions | $62,262 |
| 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 | $212,261 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Chicagoland Chamber Of Commerce Foundation has recieved totaling $22,500.
| Awarding Organization | Amount |
|---|---|
Canning Foundation Chicago, IL PURPOSE: TO FURTHER PROGRAM SERVICES | $10,000 |
The Bill Bass Foundation Chicago, IL PURPOSE: GENERAL PURPOSE | $10,000 |
Baird Foundation Inc Milwaukee, WI PURPOSE: PROFESSIONAL | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Statewide Energy Efficiency Andrenewables Administration Inc Madison, WI | $63,794,129 | $99,926,553 |
Information Systems Audit And Control Association Inc Schaumburg, IL | $168,414,298 | $101,751,321 |
International Code Council Inc Country Club Hills, IL | $173,275,221 | $89,069,791 |
American Property Casualty Insurance Association Chicago, IL | $156,045,230 | $59,541,606 |
Healthcare Information And Management Systems Society Chicago, IL | $52,722,997 | $65,054,367 |
Inter-Industry Conference On Auto Collision Repairs Hoffman Estates, IL | $98,841,828 | $60,778,547 |
Iowa Soybean Association Ankeny, IA | $41,040,308 | $49,594,198 |
Society Of Actuaries Professional Association Schaumburg, IL | $48,907,069 | $54,354,624 |
Association Of Equipment Manufacturers Milwaukee, WI | $65,690,987 | $35,929,615 |
Ipc International Inc Bannockburn, IL | $35,069,140 | $30,776,508 |
Apics Inc Chicago, IL | $42,029,595 | $30,789,675 |
International Sanitary Supply Association Rosemont, IL | $73,095,156 | $16,343,711 |