Muskegon Lakeshore Chamber Of Commerce
- Assets
- $2.3m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 11
- Location
- Muskegon, MI
- Founding
- Data as of
- 12/2022
- EIN
- 38-2827380
Organization Overview
Muskegon Lakeshore Chamber Of Commerce is located in Muskegon, MI. As of 12/2022, Muskegon Lakeshore Chamber Of Commerce employed 11 individuals. Muskegon Lakeshore 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, Muskegon Lakeshore Chamber Of Commerce generated $1.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $1.1m during the year ending 12/2022. While expenses have increased by 1.0% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
MEMBER PROGRAMS/SERVICES, ECONOMIC DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBERSHIP SERVICES - PROVIDE ASSISTANCE TO BUSINESSES THROUGH MEMBERSHIP PROGRAMS, PROMOTION, AND NETWORKING OPPORTUNITIES.
ECOOMIC DEVELOPMENT
BUSINESS & COMMUNITY EVENTS - CONDUCT EVENTS PROMOTING THE COMMUNITY, MEMBER BUSINESSES AND RELATED SERVICES AND PRODUCTS IN EFFORTS TO STRENGTHEN THE BUSINESS CLIMATE AND PROMOTE ECONOMIC DEVELOPMENT.
ECONOMIC DEVELOPMENT- ACTIVE IN RETENTION OF EXISTING INDUSTRIAL BASE AND ATTRACTING NEW INDUSTRY AND COMMERCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cynthia Larsen President | OfficerTrustee | 40 | $136,760 |
Gary Allore Director | Trustee | 1 | $0 |
Dave Hazekamp Director | Trustee | 1 | $0 |
Kaja Thornton Hunter Director | Trustee | 1 | $0 |
Jay Wallace Jr Director | Trustee | 1 | $0 |
Paula Kendra Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $213,656 |
| 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 | $213,656 |
| Total Program Service Revenue | $1,021,574 |
| Investment income | -$112,554 |
| 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 | $1,136,334 |
| 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 | $549,989 |
| Pension plan accruals and contributions | $14,221 |
| Other employee benefits | $58,811 |
| Payroll taxes | $40,435 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,116 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $950 |
| Office expenses | $3,575 |
| Information technology | $20,725 |
| Royalties | $0 |
| Occupancy | $72,521 |
| Travel | $1,996 |
| 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 | $369 |
| Insurance | $4,161 |
| All other expenses | $0 |
| Total functional expenses | $1,070,826 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $140 |
| Savings and temporary cash investments | $1,137,314 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $47,950 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $441,666 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $922 |
| Investments—publicly traded securities | $709,744 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,337,736 |
| Accounts payable and accrued expenses | $8,410 |
| Grants payable | $0 |
| Deferred revenue | $122,533 |
| 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 | $279,556 |
| Total liabilities | $410,499 |
| Net assets without donor restrictions | $1,927,237 |
| 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 | $2,337,736 |