Litchfield Chamber Of Commerce
- Assets
- $34.7k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Litchfield, IL
- Founding
- 10/1942
- Data as of
- 12/2020
- EIN
- 37-0388255
Organization Overview
Litchfield Chamber Of Commerce is located in Litchfield, IL. The organization was established in 1942. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Litchfield 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 12/2020, Litchfield Chamber Of Commerce generated $29.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (14.6%) each year. All expenses for the organization totaled $32.4k during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (12.6%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2020
Describe the Organization's Program Activity:
Part 3
PROVIDING BUSINESS AND COMMUNITY INFORMATION TO THOSEINTERESTED IN LOCATING THEIR BUSINESS IN LITCHFIELDAND PROMOTING COMMERCE SERVING 200 MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maggie Sinclair Secretary | 25 | $16,030 | |
Cory Evans Past President | 1 | $0 | |
Mike Strubhard Vice President | 1 | $0 | |
Mike Fleming Treasurer | 2 | $0 | |
Mandy Jewell President | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,620 |
| Membership dues | $24,670 |
| Investment income | $357 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $3,056 |
| Other Revenue | $0 |
| Total Revenue | $29,703 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $16,030 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $4,922 |
| Printing, publications, postage, and shipping | $225 |
| Other expenses | $11,222 |
| Total expenses | $32,399 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $34,716 |
| Other assets | $0 |
| Total assets | $34,716 |
| Total liabilities | $790 |
| Net assets or fund balances | $33,926 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Litchfield Chamber Of Commerce has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
W Darrell Kilton Foundation Litchfield, IL PURPOSE: SET UP BUSINESS DIRECTORY | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Association Of Tax Professionals Inc Appleton, WI | $15,322,195 | $11,606,289 |
National Association Of Electrical Distributors St Louis, MO | $12,015,051 | $10,580,917 |
Chicagoland Entrepreneurial Center Chicago, IL | $5,911,149 | $8,140,473 |
Custom Electronic Design & Installation Association Fishers, IN | $40,806,745 | $4,400,829 |
International Dairy-Deli-Bakery Association Madison, WI | $22,953,024 | $8,197,084 |
National Precast Concrete Association Inc Carmel, IN | $13,896,863 | $10,585,314 |
Indiana Underground Plant Protection Service Inc Greenwood, IN | $23,524,907 | $10,120,104 |
Property Loss Research Bureau Downers Grove, IL | $29,282,847 | $8,342,411 |
National Funeral Directors Association Of The United States I Brookfield, WI | $21,618,319 | $10,407,549 |
Residential Real Estate Council Chicago, IL | $27,056,402 | $11,169,926 |
Engine Manufacturers Association Chicago, IL | $15,542,068 | $8,146,219 |
National Board Of Certification And Recert Of Nurse Anesthetists Chicago, IL | $34,872,411 | $14,011,594 |