Silver Bay Area Tourism Association
- Assets
- $112.5k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Silver Bay, MN
- Founding
- 01/2008
- Data as of
- 12/2021
- EIN
- 26-0394637
Organization Overview
Silver Bay Area Tourism Association is located in Silver Bay, MN. The organization was established in 2008. 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. Silver Bay Area Tourism 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, Silver Bay Area Tourism Association generated $86.7k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.8%) each year. All expenses for the organization totaled $73.1k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.6%) per year over the past 7 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
RECEIVED $6,500 GRANT ALLOCATION FROM LAKE COUNTY, $9,999 GRANT FROM IRRRB FOR PURCHASE MOVIE EQUIPMENT, $85,000 LODGING TAX, ISSUED $2700 IN GRANTS FOR JAY HARRIS, TOMMY RYMAN, AND CHRIS MADDOCK FOR COMEDY EVENTS, GRANTED BAYDAYS FESTIVAL $25,515 FOR BAND AND MARKETING EXPENSES, RAN MOVIE IN THE PARK EVENT. ASSISTED LOCAL BUSINESS WITH REQUESTING GRANTS FROM OTHER ORGANIZATIONS, DISTRIBUTED BROCHURES MARKETING THE SILVER BAY AREA, RE-DEVELOPED THE WEBSITE AND PROMOTED THE SILVER BAY AREA ON SOCIAL MEDIA, BILLBOARDS AND PRINT ADVERTISING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Floyd Baker President | 10 | $0 | |
Lisa Hoff Vice President | 4 | $0 | |
Amy Geordt Treasurer | 3 | $0 | |
Chris Geordt Member At Large | 3 | $0 | |
Jenny Bjerken Member At Large | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $86,669 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $41 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $86,710 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $21,961 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $6,729 |
| Other expenses | $6,646 |
| Total expenses | $73,050 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $106,937 |
| Other assets | $0 |
| Total assets | $112,475 |
| Total liabilities | $0 |
| Net assets or fund balances | $112,475 |
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