Greater Springfield Chamber Of Commerce
- Assets
- $1.8m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 7
- Location
- Springfield, IL
- Founding
- 08/1955
- Data as of
- 12/2023
- EIN
- 37-0710280
Organization Overview
Greater Springfield Chamber Of Commerce is located in Springfield, IL. The organization was established in 1955. 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, Greater Springfield Chamber Of Commerce employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Springfield 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, Greater Springfield Chamber Of Commerce generated $1.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (5.7%) each year. All expenses for the organization totaled $982.9k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (5.6%) 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
ENHANCE OUR MEMBERS' SUCCESS AND ADVANCE OUR ECONOMY
Describe the Organization's Program Activity:
Part 3 - Line 4a
CORPORATE CUP GOLF CHALLENGE - ANNUAL GOLF OUTING TO PROVIDE NETWORKING AND VISIBILITY FOR MEMBERS.
JOB FAIR - EMPLOYERS PURCHASE BOOTHS TO RECRUIT EMPLOYEES
SMALL BUSINESS AWARD LUNCHEON - AWARDS EVENT RECOGNIZING SMALL BUSINESS OWNERS IN 4 CATEGORIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sharon Riechers Chairman | OfficerTrustee | 1 | $0 |
Kayla Edwards Chair-Elect | OfficerTrustee | 1 | $0 |
Tyler Cormeny 1st Vice Chair | OfficerTrustee | 1 | $0 |
Jennifer Call 2nd Vice Chair | OfficerTrustee | 1 | $0 |
Kevin Corbin 3rd Vice Chair | OfficerTrustee | 1 | $0 |
Josh Shugart Secretary/ Treasurer | OfficerTrustee | 1 | $0 |
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 | $132,175 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $132,175 |
| Total Program Service Revenue | $845,455 |
| Investment income | $39,889 |
| 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 | $1,031,783 |
| 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 | $546,972 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $83,278 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,770 |
| 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 | $0 |
| Advertising and promotion | $4,550 |
| Office expenses | $36,546 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $69,481 |
| Travel | $8,955 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,881 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,880 |
| Insurance | $10,210 |
| All other expenses | $12,915 |
| Total functional expenses | $982,946 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $197,322 |
| Savings and temporary cash investments | $902,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $19,720 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $26,144 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $12,878 |
| Net Land, buildings, and equipment | $17,327 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $609,835 |
| Total assets | $1,785,226 |
| Accounts payable and accrued expenses | $6,000 |
| Grants payable | $0 |
| Deferred revenue | $199,187 |
| 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 | $624,720 |
| Total liabilities | $829,907 |
| Net assets without donor restrictions | $955,319 |
| 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 | $1,785,226 |
Grants Awarded
Over the last fiscal year, Greater Springfield Chamber Of Commerce has awarded $60,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
THE SPRINGFIELD PROJECT PURPOSE: Youth Employment Programs | $10,000 |
THE SPRINGFIELD PROJECT PURPOSE: Grant Writing Support | $50,000 |