Palestine Chamber of Commerce
- Assets
- $199.1k
- Revenue
- $62.9k
- Investments
- $0.0
- Employees
- 1
- Location
- Palestine, IL
- Founding
- Data as of
- 12/2016
- EIN
- 37-6047535
Organization Overview
Palestine Chamber of Commerce is located in Palestine, IL. Palestine 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 12/2016, Palestine Chamber of Commerce generated $62.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (3.7%) each year. All expenses for the organization totaled $37.5k during the year ending 12/2016. As we would expect to see with falling revenues, expenses have declined by (6.2%) per year over the past 2 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
2016
Describe the Organization's Mission:
Part 3 - Line 1
TO RAISE FUNDS FOR CIVIC IMPROVEMENT AND HELP ATTRACT NEW INDUSTRY TO PALESTINE, IL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROJECTS UNDERTAKEN AND DONATIONS MADE WITHIN PALESTINE, IL TO PROMOTE VISITS TO THE VILLAGE AND INCREASE BUSINESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Candace Kincaid 2nd Vice President | Officer | 15 | $0 |
Luke Mcnair 1st Vice President | Officer | 15 | $0 |
Clint Knoblett President | Officer | 15 | $0 |
Josh Mcnair Treasurer | Officer | 15 | $0 |
Cindy York Secretary | Officer | 15 | $0 |
Janice Fuller 1 Year Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,495 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,393 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,888 |
| Total Program Service Revenue | $0 |
| Investment income | $874 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $56,095 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $62,857 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,431 |
| 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 | $9,744 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,128 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $972 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $300 |
| Office expenses | $4,377 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,840 |
| 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 | $2,214 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $37,490 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $248 |
| Savings and temporary cash investments | $176,505 |
| 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 | $22,369 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $199,122 |
| 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 | $3,343 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,343 |
| Unrestricted restricted net Assets | $195,779 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $195,779 |
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