Illinois State Chamber Of Commerce
- Assets
- $2.0m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 16
- Location
- Springfield, IL
- Founding
- 07/1938
- Data as of
- 12/2023
- EIN
- 36-1254650
Organization Overview
Illinois State Chamber Of Commerce is located in Springfield, IL. The organization was established in 1938. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Illinois State Chamber Of Commerce employed 16 individuals. This organization is the central organization for a national or regional group of organizations. Illinois State 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 12/2023, Illinois State Chamber Of Commerce generated $2.4m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (2.6%) each year. All expenses for the organization totaled $2.8m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (0.2%) per year over the past 9 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 UNIFYING LEADER OF POLICIES THAT SUPPORT GROWTH IN ILLINOIS' DYNAMIC AND DIVERSE ECONOMY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LARGEST PROGRAM OF THE CHAMBER IS THAT OF BUSINESS ADVOCACY. INSTITUTIONALLY THIS IS ENTITLED: GOVERNMENT AFFAIRS. THROUGH THE GOVERNMENT AFFAIRS COMMITTEE AND LEGISLATIVE STAFF, THE CHAMBER HAS PREVENTED SOME LEGISLATION FROM PASSING THAT WOULD HAVE HAD A NEGATIVE IMPACT ON THE COST OF DOING BUSINESS IN ILLINOIS. IN ADDITION, THROUGH THE STAFF, THE CHAMBER HAS LESSENED IMPACTS, INITIALLY PLANNED BY SOME LEGISLATORS AND FOCUSED ON BUSINESSES, OF SOME LEGISLATION. FINALLY, THE CHAMBER ALSO INITIATES AND SUPPORTS LEGISLATION TO IMPROVE THE BUSINESS CLIMATE IN ILLINOIS.
THE SECOND LARGEST PROGRAM IS THAT OF CONFERENCES. OVER THE PAST SEVERAL YEARS, THE CHAMBER HAS OFFERED AN ANNUAL LUNCHEON. ATTENDANCE FOR THIS EVENT HAS GROWN TO OVER 500 BUSINESSES. IT PROVIDES OPPORTUNITIES FOR ITS MEMBERS TO COME TOGETHER ANNUALLY AND LEARN FROM THEIR PEERS FROM VARIOUS INDUSTRIES. PARTICIPANT EVALUATIONS OF THIS AND OTHER CONFERENCES INDICATE THE CHAMBER IS PROVIDING INFORMATION TO BUSINESSES THAT 1) HELPS THEM BETTER UNDERSTAND THE EXISTING PUBLIC POLICIES AND, 2) HELPS THEM BECOME MORE EFFICIENT AND EFFECTIVE IN THEIR BUSINESS OPERATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ann Deters Chairman | OfficerTrustee | 0.5 | $0 |
Dan Wagner Vice Chairman | OfficerTrustee | 0.5 | $0 |
John F Theen Treasurer | OfficerTrustee | 0.5 | $0 |
Kelly Edwards Secretary | OfficerTrustee | 0.5 | $0 |
Brent Eichelberger Immediate Past Chairman | OfficerTrustee | 0.5 | $0 |
Jeff Ball Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
3 Fnp Owner Llc Leasing Service | 12/30/23 | $235,883 |
Sikich Llp Accounting Services | 12/30/23 | $229,097 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| 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 | $0 |
| Total Program Service Revenue | $2,289,301 |
| Investment income | $8,360 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $28,896 |
| 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 | $2,358,570 |
| 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. | $579,880 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $833,303 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $68,234 |
| Payroll taxes | $113,597 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,600 |
| Fees for services: Accounting | $24,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $445,532 |
| Advertising and promotion | $405 |
| Office expenses | $118,704 |
| Information technology | $76,010 |
| Royalties | $0 |
| Occupancy | $265,087 |
| Travel | $22,862 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,578 |
| Interest | $21,646 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $70,475 |
| Insurance | $30,266 |
| All other expenses | $166,734 |
| Total functional expenses | $2,845,313 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $28,567 |
| Savings and temporary cash investments | $471,007 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $46,490 |
| 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 | $103,081 |
| Net Land, buildings, and equipment | $770,292 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $568,729 |
| Total assets | $1,988,166 |
| Accounts payable and accrued expenses | $556,860 |
| Grants payable | $0 |
| Deferred revenue | $762,687 |
| 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 | $1,767,153 |
| Total liabilities | $3,086,700 |
| Net assets without donor restrictions | -$1,098,534 |
| 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 | $1,988,166 |