Meeting Professionals International
- Assets
- $132.7k
- Revenue
- $80.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Gaithersburg, MD
- Founding
- 05/1981
- Data as of
- 12/2023
- EIN
- 31-1033028
Organization Overview
Meeting Professionals International, operating under the name Potomac Chapter, is located in Gaithersburg, MD. The organization was established in 1981. 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 a subordinate organization within an affiliated group for tax-exemption purposes. Potomac Chapter 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 12/2023, Potomac Chapter generated $80.4k 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 (19.8%) each year. All expenses for the organization totaled $66.3k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (22.1%) 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE PRIMARY EXEMPT PURPOSE OF THE ORGANIZATION IS TO PROVIDE EDUCATION TO ITS MEMBERS REGARDING THE MEETING PLANNING INDUSTRY
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEETINGS: ORGANIZATION MEMBERS MAY ATTEND MONTHLY OR THE ANNUALMEETINGS WHICH PROVIDES EDUCATION REGARDING THE INDUSTRY AND CURRENTTRENDS
NEWSLETTER: AN ELECTRONIC NEWSLETTER IS SENT TO ORGANIZATION MEMBERS TOKEEP THEM ABREAST OF CURRENT INDUSTRY TRENDS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Phil Rappoport President | OfficerTrustee | 2 | $0 |
Cheri Fairchild President Elect | OfficerTrustee | 2 | $0 |
Evan Nielson Vice President Finance | OfficerTrustee | 2 | $0 |
Carolyn Patterson Kemper Vice President Communications | OfficerTrustee | 2 | $0 |
Shawn Pearson Vice President Education | OfficerTrustee | 2 | $0 |
Yoko Heukels Vice President Membership | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $18,090 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $36,700 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $54,790 |
| Total Program Service Revenue | $24,601 |
| 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 | $950 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $80,431 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $58,750 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $723 |
| Office expenses | $2,835 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,450 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $371 |
| All other expenses | $2,201 |
| Total functional expenses | $66,330 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $40,614 |
| Savings and temporary cash investments | $0 |
| 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 | $92,088 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $132,702 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $132,702 |
| Total liabilities and net assets/fund balances | $132,702 |