Willoughby Western Lake County Chamber Of Commerce

Organization Overview

Willoughby Western Lake County Chamber Of Commerce is located in Willoughby, OH. The organization was established in 1965. 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, Willoughby Western Lake County Chamber Of Commerce employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Willoughby Western Lake County Chamber Of 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, Willoughby Western Lake County Chamber Of Commerce generated $258.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $210.1k during the year ending 12/2021. While expenses have increased by 3.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

PROMOTE BUSINESS AND ECONOMIC DEVELOPMENT

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROMOTION OF THE COMMUNITY AS A VIABLE PLACE TO LIVE, WORK AND LOCATE BUSINESSES.


CONDUCT MEETINGS TO INFORM AND EDUCATE MEMBERS ABOUT ACTIVITIES AND CONCERNS RELATING TO BUSINESS AND INDUSTRY.


COMMUNITY SERVICE


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Board, Officers & Key Employees

Name (title)Compensation
Karen Tercek
President/ce
$70,278
Diane Martin
Chair
$0
Cheryl Lanese
Treasurer
$0
Elizabeth Crosby
Secretary
$0
Traci Paponetti
Vice Chair
$0
Eileen Bewley
Trustee
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$133,867
Fundraising events$0
Related organizations$0
Government grants $33,800
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$167,667
Total Program Service Revenue$649
Investment income $7,336
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$535
Net Income from Fundraising Events $62,409
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $258,411

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