Greater Madison Chamber Of Commerce
- Assets
- $4.0m
- Revenue
- $2.1m
- Investments
- $37.4k
- Employees
- 0
- Location
- Madison, WI
- Founding
- 09/1953
- Data as of
- 12/2023
- EIN
- 39-0843590
Organization Overview
Greater Madison Chamber Of Commerce is located in Madison, WI. The organization was established in 1953. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Madison 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 12/2023, Greater Madison Chamber Of Commerce generated $2.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $1.9m during the year ending 12/2023. While expenses have increased by 5.0% per year over the past 9 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
THE GREATER MADISON CHAMBER OF COMMERCE IS ORGANIZED FOR THE PURPOSE OF ADVANCING THE ECONOMIC, CULTURAL AND SOCIAL WELFARE OF THE GREATER MADISON AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADVOCACY - THE CHAMBER AMPLIFIES THE VOICE OF THE BUSINESS COMMUNITY AT ALL LEVELS OF GOVERNMENT, ADVOCATING FOR POLICIES THAT SUPPORT ECONOMIC GROWTH AND PROGRESS. WE KEEP OUR MEMBERS INFORMED AND ENGAGED IN LOCAL ELECTIONS WITH REGULAR COMMUNICATION AND PROGRAMMING. WE STAND READY TO MOBILIZE OUR MEMBERS WHEN A UNITED FRONT IS NEEDED MOST.
AGENCY SUPPORT - THE CHAMBER SUPPORTS COMMUNITY LEADERSHIP DEVELOPMENT AND OTHER AGENCIES WITH COMMON GOALS THROUGH ADMINISTRATIVE SUPPORT SERVICES.
BRAND - THE CHAMBER PROMOTES THIS REGION AS THE PLACE TO MAKE A CAREER, MAKE A LIFE AND MAKE A DIFFERENCE. GREATER MADISON IS GROUND LEVEL FOR THE NEXT BIG THING, AND THE CHAMBER IS AMPLIFYING THAT MESSAGE TO THE WORLD.
ECONOMY - BY USING DATA TO ANALYZE WHERE OUR ECONOMY IS HEADING AND DRIVING ECONOMIC GROWTH WITH INITIATIVES LIKE ACCELERATE MADISON, HEALTHTECH CAPITOL AND PROGRAMS THAT BUILD STRONGER CONNECTIONS BETWEEN OUR SCHOOLS AND BUSINESSES, THE CHAMBER IS HELPING OUR MEMBERS FIND OPPORTUNITY AND PREPARE FOR THE FUTURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Aaron Olver Chair | OfficerTrustee | 2.5 | $0 |
Jim Garner Secretary | OfficerTrustee | 2.5 | $0 |
Kim Sponem Treasurer | OfficerTrustee | 2.5 | $0 |
Dan Bertler Vice Chair And Membership Committee | OfficerTrustee | 2.5 | $0 |
Jeff Keebler Chair Elect And Public Policy Chair | OfficerTrustee | 2.5 | $0 |
Wayne Harris Immediate Past Chair | Trustee | 2.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $139,060 |
| All other contributions, gifts, grants, and similar amounts not included above | $100,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $239,060 |
| Total Program Service Revenue | $1,765,400 |
| Investment income | $76,897 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $720 |
| 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 | $2,082,205 |
| 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. | $485,886 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $550,076 |
| Pension plan accruals and contributions | $16,631 |
| Other employee benefits | $51,523 |
| Payroll taxes | $71,324 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $650 |
| Fees for services: Accounting | $86,721 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $14,311 |
| Fees for services: Other | $12,000 |
| Advertising and promotion | $848 |
| Office expenses | $29,925 |
| Information technology | $57,508 |
| Royalties | $0 |
| Occupancy | $161,828 |
| Travel | $5,322 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $350,376 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $27,763 |
| Insurance | $6,742 |
| All other expenses | $2,946 |
| Total functional expenses | $1,937,297 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $29,721 |
| Savings and temporary cash investments | $269,975 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $207,084 |
| 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 | $22,741 |
| Net Land, buildings, and equipment | $82,849 |
| Investments—publicly traded securities | $2,455,926 |
| Investments—other securities | $37,388 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $844,396 |
| Total assets | $3,950,080 |
| Accounts payable and accrued expenses | $9,320 |
| Grants payable | $0 |
| Deferred revenue | $529,972 |
| 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 | $937,831 |
| Total liabilities | $1,477,123 |
| Net assets without donor restrictions | $2,472,957 |
| 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 | $3,950,080 |