Southwest Michigan Regional Chamber
- Assets
- $321.4k
- Revenue
- $303.6k
- Investments
- $0.0
- Employees
- 3
- Location
- St Joseph, MI
- Founding
- 03/1956
- Data as of
- 12/2022
- EIN
- 38-1443478
Organization Overview
Southwest Michigan Regional Chamber, operating under the name Cornerstone Chamber Of Commerce, is located in St Joseph, MI. The organization was established in 1956. According to its NTEE Classification (S11) the organization is classified as: Single Organization Support, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Cornerstone Chamber Of Commerce employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cornerstone 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 12/2022, Cornerstone Chamber Of Commerce generated $303.6k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $414.9k during the year ending 12/2022. While expenses have increased by 4.8% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
MEMBER DRIVEN ORGANIZATION WORKING TO ACHIEVE ECONOMY PROSPERITY THROUGHOUT THE REGION. IT'S MISSION IS TO LEVERAGE EVERY AVAILABLE RESOURCE WITHIN OUT NETWORK FOR THE ADVANCEMENT OF OUR MEMBERS AND THE BETTERMENT OF ALL WHO LIVE IN OUR COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE YEAR, 4 "AFTER HOURS" EVENTS WERE HELD (ON AVERAGE 80 MEMBERS ATTENDED EACH AFTER HOURS) FOR THE APPROXIMATELY 650 TOTAL CHAMBER MEMBERS WITH THE GOAL OF CREATING A FAVORABLE BUSINESS CLIMATE THROUGH THE FORMATION OF NEW RELATIONSHIPS BETWEEN AREA BUSINESSES. ADDITIONALLY, THE ORGANIZATION HOSTED THE ANNUAL BUSINESS RECOGNITION EVENT, SEVERAL IN-PERSON RIBBON CUTTINGS, EDUCATIONAL EVENTS, AND MULTIPLE OTHER NETWORKING OPPORTUNITIES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Lemoine Chair | OfficerTrustee | 1 | $0 |
Bruce Piekarski Treasurer | OfficerTrustee | 1 | $0 |
Olivia Starks Vice-Chair | OfficerTrustee | 1 | $0 |
David Costas Secretary | OfficerTrustee | 1 | $0 |
Barb Antonucci Member | Trustee | 1 | $0 |
Dr James Gendernalik DO Member | Trustee | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $283,765 |
| Investment income | $267 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $6,829 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $303,627 |
| 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. | $94,371 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $82,183 |
| Pension plan accruals and contributions | $1,374 |
| Other employee benefits | $6,660 |
| Payroll taxes | $15,681 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,524 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $44,183 |
| Office expenses | $31,115 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $31,637 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,083 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,364 |
| Insurance | $4,232 |
| All other expenses | $0 |
| Total functional expenses | $414,894 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $225,240 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,102 |
| 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 | $5,313 |
| Net Land, buildings, and equipment | $78,769 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $321,424 |
| Accounts payable and accrued expenses | $23,885 |
| Grants payable | $0 |
| Deferred revenue | $4,000 |
| 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 | $27,885 |
| Net assets without donor restrictions | $293,539 |
| 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 | $321,424 |