German-American Chamber Of Commerce Of The Midwest
- Assets
- $9.9m
- Revenue
- $11.7m
- Investments
- $0.0
- Employees
- 85
- Location
- Chicago, IL
- Founding
- 10/1965
- Data as of
- 12/2023
- EIN
- 36-2512921
Organization Overview
German-American Chamber Of Commerce Of The Midwest is located in Chicago, IL. The organization was established in 1965. 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, German-American Chamber Of Commerce Of The Midwest employed 85 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. German-American Chamber Of Commerce Of The Midwest 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, German-American Chamber Of Commerce Of The Midwest generated $11.7m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 16.2% each year . All expenses for the organization totaled $12.3m during the year ending 12/2023. While expenses have increased by 16.5% 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 FURTHER, PROMOTE, IMPROVE AND EXPAND TRADE BETWEEN GERMANY AND THE UNITED STATES OF AMERICA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INFORMATIONAL SERVICES - PROVIDES ESTABLISHMENT OF CONTACT BETWEEN US AND GERMAN IMPORT/EXPORTERS, REFERRAL OF SUPPLY SOURCES & INFORMATION ON TARIFF, RATES & CUSTOMS
MEETINGS - VARIOUS EVENTS WITH GERMAN & US SPEAKERS ON INTERNATIONAL TRADE, PROVIDES ENVIRONMENT FOR BUSINESS CONTACT AND INFORMATION EXCHANGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Tomkins President & | OfficerTrustee | 40 | $280,241 |
Matthew Wallace Treasurer | OfficerTrustee | 40 | $161,414 |
Mario Kratsch Vice Preside | OfficerTrustee | 40 | $178,195 |
Uwe Schoberth Vice Chairma | OfficerTrustee | 1 | $0 |
Matthias Amberg Chairman | OfficerTrustee | 1 | $0 |
Dave Nissen Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,064,012 |
| All other contributions, gifts, grants, and similar amounts not included above | $153,968 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,217,980 |
| Total Program Service Revenue | $9,970,480 |
| Investment income | $59,789 |
| 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 | $11,735,330 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $500,000 |
| 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. | $619,850 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,272,495 |
| Pension plan accruals and contributions | $251,775 |
| Other employee benefits | $609,314 |
| Payroll taxes | $294,993 |
| Fees for services: Management | $418,767 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $26,044 |
| Advertising and promotion | $27,077 |
| Office expenses | $80,332 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $810,602 |
| Travel | $187,614 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,908 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $339,262 |
| Insurance | $89,919 |
| All other expenses | $579,123 |
| Total functional expenses | $12,306,739 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,941,516 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,060,712 |
| 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 | $131,617 |
| Net Land, buildings, and equipment | $3,479,199 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $276,568 |
| Total assets | $9,889,612 |
| Accounts payable and accrued expenses | $3,099,436 |
| Grants payable | $0 |
| Deferred revenue | $493,140 |
| 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 | $3,500,000 |
| Total liabilities | $7,092,576 |
| Net assets without donor restrictions | $2,797,036 |
| 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 | $9,889,612 |