Algoma Area Chamber Of Commerce
- Assets
- $266.5k
- Revenue
- $137.6k
- Investments
- $0.0
- Employees
- 5
- Location
- Algoma, WI
- Founding
- Data as of
- 12/2021
- EIN
- 39-1558982
Organization Overview
Algoma Area Chamber Of Commerce is located in Algoma, WI. As of 12/2021, Algoma Area Chamber Of Commerce employed 5 individuals. Algoma 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 12/2021, Algoma Area Chamber Of Commerce generated $137.6k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $98.1k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE BUSINESS PROSPERITY, TOURISM, AND COMMUNITY INVOLVEMENT BY PROVIDING INFORMATION, SERVICES AND ADVOCACY FOR THE ALGOMA COMMUNITY AND OUR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION OPERATES THE ALGOMA VISITOR CENTER ALL YEAR, WHICH PROVIDES LITERATURE, WEBSITE, TELEPHONE INFORMATION, ON-SITE INFORMATION AND TRADE SHOW REPRESENTATION REGARDING ALGOMA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth Weinaug Executive Director | Officer | 40 | $38,462 |
Jennifer Highland President | OfficerTrustee | 2 | $0 |
Jennifer Emert Vice President | OfficerTrustee | 1 | $0 |
Kim Swiggum Secretary | OfficerTrustee | 1 | $0 |
Jason Melotte Treasurer | OfficerTrustee | 1 | $0 |
Shawn Olson Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $31,700 |
| Related organizations | $0 |
| Government grants | $11,700 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,068 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $45,468 |
| Total Program Service Revenue | $55,479 |
| Investment income | $648 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,984 |
| Net Income from Fundraising Events | $25,274 |
| Net Income from Gaming Activities | $2,057 |
| Net Income from Sales of Inventory | $6,327 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $137,614 |
| 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. | $38,462 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $19,961 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,046 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $799 |
| Office expenses | $3,939 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,884 |
| Travel | $219 |
| 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 | $3,419 |
| Insurance | $1,856 |
| All other expenses | $0 |
| Total functional expenses | $98,061 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $151,118 |
| Savings and temporary cash investments | $32,882 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,255 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $400 |
| Prepaid expenses and deferred charges | $2,848 |
| Net Land, buildings, and equipment | $23,229 |
| Investments—publicly traded securities | $53,795 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $266,527 |
| Accounts payable and accrued expenses | $25,942 |
| Grants payable | $0 |
| Deferred revenue | $40,399 |
| 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 | $66,341 |
| Net assets without donor restrictions | $200,186 |
| 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 | $266,527 |
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