Global Market Development Center
- Assets
- $0.0
- Revenue
- $191.9k
- Investments
- $0.0
- Employees
- 8
- Location
- Chicago, IL
- Founding
- 10/1974
- Data as of
- 12/2022
- EIN
- 36-2698078
Organization Overview
Global Market Development Center is located in Chicago, IL. The organization was established in 1974. According to its NTEE Classification (Q30) the organization is classified as: International Development, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2022, Global Market Development Center employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Global Market Development Center 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, Global Market Development Center generated $191.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (34.2%) each year. All expenses for the organization totaled $842.5k during the year ending 12/2022. 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
SEE PART III, LINE 1 AND SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
GM CONFERENCE - MARKETING CONFERENCE FOR DISTRIBUTORS AND SUPPLIERS OF NON-FOOD PRODUCTS - NO CONFERENCE WAS HELD IN 2022. ANY ACTIVITY DURING 2022 WAS A RESULT OF WINDING UP AFFAIRS.
HBW CONFERENCE - MARKETING CONFERENCE FOR DISTRIBUTORS AND SUPPLIERS OF NON-FOOD PRODUCTS - ATTENDANCE WAS VIRTUAL DUE TO COVID-19. NO CONFERENCE WAS HELD IN 2022. ANY ACTIVITY DURING 2022 WAS A RESULT OF WINDING UP AFFAIRS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick Spear President | Officer | 10 | $202,351 |
James Engstrom Vice President | Officer | 10 | $184,903 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Solutions Network Consulting | 12/30/20 | $119,469 |
Dovetail Solutions Marketing/website Develop | 12/30/20 | $306,674 |
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 | $32,730 |
| Investment income | $575 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $157,262 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $191,881 |
| 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. | $387,254 |
| Compensation of current officers, directors, key employees. | $387,254 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $204,190 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $24,914 |
| Payroll taxes | $48,171 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,167 |
| Fees for services: Accounting | $28,195 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,025 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $78,301 |
| Travel | $3,050 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,068 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,471 |
| All other expenses | $7,598 |
| Total functional expenses | $842,517 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $0 |