Greater Bloomington Chamber Of Commerce
- Assets
- $615.2k
- Revenue
- $913.2k
- Investments
- $0.0
- Employees
- 9
- Location
- Bloomington, IN
- Founding
- 07/1954
- Data as of
- 08/2023
- EIN
- 35-0183215
Organization Overview
Greater Bloomington Chamber Of Commerce is located in Bloomington, IN. The organization was established in 1954. 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 08/2023, Greater Bloomington Chamber Of Commerce employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Bloomington 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 08/2023, Greater Bloomington Chamber Of Commerce generated $913.2k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $831.6k during the year ending 08/2023. While expenses have increased by 0.4% per year over the past 8 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ADVANCE THE COMMUNITY GENERAL WELFARE AND PROSPERITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE GREATER BLOOMINGTON CHAMBER OF COMMERCE DELIVERED VALUE TO OUR MEMBERS ORGANIZATIONS AND COMMUNITY THROUGH A WIDE RANGE OF HIGH-IMPACT EVENTS, MEMBER PROGRAMMING, AND COORDINATED ADVOCACY INITIATIVES THAT ADVANCE THE QUALITY OF LIFE IN THE GREATER BLOOMINGTON AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Spoonmore President & CEO | Officer | 40 | $101,279 |
Amy Somers Kopp Board Chair | OfficerTrustee | 1 | $0 |
Cindy Kinnarney Past Board Chair | OfficerTrustee | 1 | $0 |
Don Weiler First Vice Chair | OfficerTrustee | 1 | $0 |
Brian Shockney Second Vice Chair | OfficerTrustee | 1 | $0 |
Scott Shishman Secretary/treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $113,230 |
| All other contributions, gifts, grants, and similar amounts not included above | $17,234 |
| Noncash contributions included in lines 1a–1f | $17,234 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $130,464 |
| Total Program Service Revenue | $758,576 |
| Investment income | $3,402 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $15,526 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $913,154 |
| 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. | $108,120 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $318,495 |
| Pension plan accruals and contributions | $6,919 |
| Other employee benefits | $30,907 |
| Payroll taxes | $33,962 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $45,337 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,415 |
| Fees for services: Other | $7,324 |
| Advertising and promotion | $5,459 |
| Office expenses | $35,898 |
| Information technology | $2,455 |
| Royalties | $0 |
| Occupancy | $40,911 |
| Travel | $1,187 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $35,217 |
| Interest | $4,054 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,978 |
| Insurance | $5,335 |
| All other expenses | $0 |
| Total functional expenses | $831,563 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $145,027 |
| Savings and temporary cash investments | $26,779 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $134,204 |
| 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 | $20,416 |
| Net Land, buildings, and equipment | $20,644 |
| Investments—publicly traded securities | $149,925 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $118,192 |
| Total assets | $615,187 |
| Accounts payable and accrued expenses | $51,656 |
| Grants payable | $0 |
| Deferred revenue | $341,940 |
| 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 | $272,760 |
| Total liabilities | $666,356 |
| Net assets without donor restrictions | -$73,089 |
| Net assets with donor restrictions | $21,920 |
| 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 | $615,187 |