Midland Area Chamber Of Commerce
- Assets
- $1.2m
- Revenue
- $1.0m
- Investments
- $726.3k
- Employees
- 19
- Location
- Midland, MI
- Founding
- 10/1942
- Data as of
- 12/2018
- EIN
- 38-0832915
Organization Overview
Midland Area Chamber Of Commerce is located in Midland, MI. 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. As of 12/2018, Midland Area Chamber Of Commerce employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Midland Area 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 12/2018, Midland Area Chamber Of Commerce generated $1.0m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $3.5m during the year ending 12/2018. 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
2018
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP, ADVANCE, AND PROMOTE THE GENERAL WELFARE OF THE MIDLAND AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GENERAL PROGRAM - TO DEVELOP, ADVANCE, AND PROMOTE THE ECONOMIC, INDUSTRIAL, COMMERCIAL, PROFESSIONAL, CULTURAL, AND CIVIC WELFARE OF THE MIDLAND AREA.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Campbell Director | Trustee | 1 | $0 |
Becky Church Ex-Officio Directors | Trustee | 1 | $0 |
Bridgette Gransden Ex-Officio Directors | Trustee | 1 | $0 |
Angela Hine Director | Trustee | 1 | $0 |
Karl Ieuter Director | Trustee | 1 | $0 |
Wendy Kanar Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $196,297 |
| 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 | $196,297 |
| Total Program Service Revenue | $480,816 |
| Investment income | $11,609 |
| 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 | $1,037,669 |
| 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. | $214,378 |
| Compensation of current officers, directors, key employees. | $157,440 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $314,383 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $66,029 |
| Payroll taxes | $47,197 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $850 |
| Fees for services: Accounting | $5,075 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $55,010 |
| Advertising and promotion | $1,762 |
| Office expenses | $7,838 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $57,969 |
| Travel | $3,824 |
| 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 | $14,523 |
| Insurance | $6,527 |
| All other expenses | $43,895 |
| Total functional expenses | $3,530,817 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,864 |
| Savings and temporary cash investments | $221,181 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $179,930 |
| 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 | $10,964 |
| Net Land, buildings, and equipment | $48,256 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $726,340 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,188,535 |
| Accounts payable and accrued expenses | $95,525 |
| Grants payable | $0 |
| Deferred revenue | $169,326 |
| 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 | $264,851 |
| Unrestricted restricted net Assets | $923,684 |
| 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 | $923,684 |