Frankenmuth Chamber Of Commerce
- Assets
- $3.9m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 65
- Location
- Frankenmuth, MI
- Founding
- Data as of
- 09/2023
- EIN
- 38-1868259
Organization Overview
Frankenmuth Chamber Of Commerce is located in Frankenmuth, MI. As of 09/2023, Frankenmuth Chamber Of Commerce employed 65 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Frankenmuth 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 09/2023, Frankenmuth Chamber Of Commerce generated $3.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.5% each year . All expenses for the organization totaled $2.4m during the year ending 09/2023. While expenses have increased by 7.4% per year over the past 7 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
ADVANCEMENT OF THE CIVIC, COMMERCIAL, INDUSTRIAL, EDUCATIONAL AND CULTURAL INTERESTS OF FRANKENMUTH, MI.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION OF THE COMMUNITY OF FRANKENMUTH, MICHIGAN AS A BUSINESS AND TOURISM DESTINATION. PROMOTION OF OTHER COMMUNITY PROGRAMS AND DEVELOPMENT AND OTHER CHAMBER OF COMMERCE ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jamie Furbush CEO | Officer | 40 | $130,000 |
Adam Barden Director | Trustee | 1 | $0 |
Kelly Baumgartner Director | Trustee | 1 | $0 |
Mike Grossi Director | Trustee | 1 | $0 |
Matt Hotchkiss Director | Trustee | 1 | $0 |
Cindy Keinath Director | 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 | $3,700 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,700 |
| Total Program Service Revenue | $3,145,476 |
| Investment income | $2,990 |
| 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 | $3,152,166 |
| 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 | $510,323 |
| Pension plan accruals and contributions | $9,061 |
| Other employee benefits | $18,387 |
| Payroll taxes | $40,739 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $30,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,069,703 |
| Office expenses | $83,082 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $90,758 |
| Travel | $7,555 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $51,117 |
| Interest | $7,832 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $70,603 |
| Insurance | $0 |
| All other expenses | $12,368 |
| Total functional expenses | $2,429,064 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,079,375 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $145,208 |
| 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 | $85,658 |
| Net Land, buildings, and equipment | $548,081 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,858,322 |
| Accounts payable and accrued expenses | $41,126 |
| Grants payable | $0 |
| Deferred revenue | $178,447 |
| 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 | $160,926 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $11,254 |
| Total liabilities | $391,753 |
| Net assets without donor restrictions | $3,466,569 |
| 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 | $3,858,322 |