Portage Chamber Of Commerce Inc
- Assets
- $291.1k
- Revenue
- $202.5k
- Investments
- $0.0
- Employees
- 2
- Location
- Portage, IN
- Founding
- 11/1990
- Data as of
- 12/2022
- EIN
- 35-1078772
Organization Overview
Portage Chamber Of Commerce Inc is located in Portage, IN. The organization was established in 1990. 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 12/2022, Portage Chamber Of Commerce Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Portage Chamber Of Commerce Inc 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 12/2022, Portage Chamber Of Commerce Inc generated $202.5k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $171.8k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (2.0%) per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF THIS ORGANIZATION SHALL BE TO ADVANCE THE BUSINESS COMMUNITY, TO ENHANCE THE CIVIC, COMMERCIAL, INDUSTRIAL AND PROFESSIONAL WELFARE OF PORTAGE, INDIANA, AND ITS NEIGHBORING COMMUNITIES. THE ORGANIZATION STANDS TO PROMOTE INTEGRITY AND GOOD FAITH UNDER A FREE ENTERPRISE SYSTEM. IN DOING SO, IT SUPPORTS JUST AND EQUITABLE PRINCIPLES IN BUSINESS AND UNIFORMITY IN ALL ITS PRACTICES. THE ORGANIZATION ACQUIRES, PRESERVES AND DISTRIBUTES COMMERCIAL AND INDUSTRIAL STATISTICS AND INFORMATION TO PROMOTE BUSINESS GROWTH AND DEVELOPMENT. IT FACILITATES INTELLIGENT DISCUSSION UPON MATTERS OF PUBLIC CONCERN AS WELL AS PREVENTION OF CONTROVERSY OR ABUSE OF BUSINESS PRACTICES. ABOVE ALL, THIS ORGANIZATION WORKS FOR THE INTEREST AND RIGHTS OF ITS MEMBERS AND THE COMMUNITY AS A WHOLE BY PROMOTION, PRESERVATION, AND POSITIVE GROWTH FOR PORTAGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOR OPERATIONAL PURPOSES OF EXEMPT ORGANIZATION
FOR OPERATIONAL PURPOSES OF EXEMPT ORGANIZATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shannon Hough Vice Preside | OfficerTrustee | $0 | |
Kim Lenburg President | OfficerTrustee | $0 | |
Greg Lach President El | OfficerTrustee | $0 | |
Mike Scanlan Past Preside | OfficerTrustee | $0 | |
David Ondrovich Treasurer | OfficerTrustee | $0 | |
Nancy Simpson Executive Di | Officer | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $105,106 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $105,106 |
| Total Program Service Revenue | $82,323 |
| Investment income | $15,087 |
| 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 | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $202,516 |
| 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 | $66,003 |
| Pension plan accruals and contributions | $1,717 |
| Other employee benefits | $0 |
| Payroll taxes | $5,224 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,281 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,224 |
| Office expenses | $6,797 |
| Information technology | $3,354 |
| Royalties | $0 |
| Occupancy | $33,298 |
| Travel | $0 |
| 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 | $3,325 |
| Insurance | $479 |
| All other expenses | $45,100 |
| Total functional expenses | $171,802 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $125,452 |
| Savings and temporary cash investments | $124,355 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,258 |
| 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 | $36,020 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $30 |
| Total assets | $291,115 |
| Accounts payable and accrued expenses | -$13 |
| 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 | -$13 |
| Net assets without donor restrictions | $291,128 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $291,115 |
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