Geneva Chamber Of Commerce
- Assets
- $989.4k
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 6
- Location
- Geneva, IL
- Founding
- 08/1993
- Data as of
- 12/2023
- EIN
- 36-2043217
Organization Overview
Geneva Chamber Of Commerce is located in Geneva, IL. The organization was established in 1993. 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, Geneva Chamber Of Commerce employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Geneva 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, Geneva Chamber Of Commerce generated $1.7m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $1.6m during the year ending 12/2023. While expenses have increased by 2.4% per year over the past 9 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
TO BE THE VOICE OF ITS MEMBERS AND THE BUSINESS COMMUNITY ON MATTERS ECONOMIC, SOCIAL AND CULTURAL CONCERNS, AND TO DEVELOP, MAINTAIN AND MONITOR SELECTIVE PROGRAMS OF ACTION WHICH IDENTIFY ISSUES, PROVIDE SUPPORT IN AREAS OF ECONOMIC DEVELOPMENT AND FOSTER COMMUNITY PRIDE AND RECOGNITION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SWEDISH DAYS - PREPARATION AND MANAGEMENT OF A FIVE DAY FESTIVAL ENHANCING THE BUSINESS COMMUNITY. THIS ANNUAL EVENT ATTRACTS 325,000 TOURISTS AND VISITORS TO OUR BUSINESS COMMUNITY TO INCREASE OPPORTUNITY FOR OUR MEMBERS TO GENERATE SALES AND CREATE AWARENESS. THE FESTIVAL ALSO STIMULATES LOCAL RESIDENT PARTICIPATION AND PROVIDES A VENUE FOR LOCAL NON-PROFITS TO SET UP FOOD BOOTHS , THE SALES FROM WHICH, IN MANY CASES, ARE THEIR ONLY SOURCE OF FUND RAISING FOR THE YEAR.
VARIOUS OTHER PROGRAMS INCLUDING CAR SHOW AND FINE ARTS SHOW.
FESTIVAL OF THE VINE- ECONOMIC DEVELOPMENT THROUGH THE PROMOTION OF A CENTRAL BUSINESS DISTRICT IN CONJUNCTION WITH THE ORGANIZATION AND MANAGEMENT OF TENT FOODS SERVED BY RESTAURANT MEMBERS AS A FAIRE WITH FAMILY AND CHILDREN'S ACTIVITIES INCLUDING LIVE ENTERTAINMENT, CRAFT AND ART SHOWS, WINE TASTING AND KIDS GAMES. THE EVENT ATTRACTS 50,000-75,000 ATTENDEES.
CHRISTMAS WALK- ECONOMIC DEVELPMENT THROUGH THE PROMOTION OF THE CENTRAL BUSINESS DISTRICT AT THE START OF THE CHRISTMAS SALES SEASON ATTRACTING LOCAL RESIDENTS AND TOURISTS TO WALK A RECOMMENDED ROUTE VISITING MEMBER RETAILERS AND LOCAL RESIDENCES DECORATED IN THE HOLIDAY SPRIRT. STREET DECORATIONS IN THE FORM OF LIGHTED CHRISTMAS TREES AND WREATHS ARE UNDERWRITTEN BY THIS ORGANIZATION AND INSTALLED BY CITY WORKERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Drumheller Exec Committ | Trustee | $0 | |
George Havlicek Board Member | Trustee | $0 | |
Bruce Heidlauf Board Member | Trustee | $0 | |
Susan Huang Treasurer | OfficerTrustee | $0 | |
Neil Johnson Board Member | Trustee | $0 | |
Christine Lazaris Board Member | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $418,740 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $104,549 |
| All other contributions, gifts, grants, and similar amounts not included above | $188,877 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $712,166 |
| Total Program Service Revenue | $884,983 |
| Investment income | $12,168 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $114,203 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,725,858 |
| 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 | $376,262 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $29,756 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10 |
| Fees for services: Accounting | $29,731 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,137,663 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,299 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,577,721 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $280,727 |
| Savings and temporary cash investments | $135,719 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $158,784 |
| 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 | $33,438 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $380,727 |
| Total assets | $989,395 |
| Accounts payable and accrued expenses | $3,846 |
| 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 | $339,331 |
| Other liabilities | $101,400 |
| Total liabilities | $444,577 |
| 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 | $544,818 |
| Total liabilities and net assets/fund balances | $989,395 |