Hmong Wisconsin Chamber Of Commerce Inc
- Assets
- $3.6m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 9
- Location
- Milwaukee, WI
- Founding
- 04/2011
- Data as of
- 12/2022
- EIN
- 39-2013787
Organization Overview
Hmong Wisconsin Chamber Of Commerce Inc is located in Milwaukee, WI. The organization was established in 2011. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Hmong Wisconsin Chamber Of Commerce Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hmong Wisconsin Chamber Of Commerce Inc 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, Hmong Wisconsin Chamber Of Commerce Inc generated $2.4m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 28.5% each year . All expenses for the organization totaled $723.0k during the year ending 12/2022. While expenses have increased by 21.4% 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
HWCC IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) PROVIDING ECONOMIC DEVELOPMENT ASSISTANCE IN BUSINESS PLANNING, MARKET ANALYSIS, MARKETING STRATEGIES, EFFECTIVE DAY-TO-DAY BUSINESS OPERATIONS AND MUCH MORE. HWCC ACTS AS AN ADVOCATE FOR THE HMONG AND ASIAN AMERICAN COMMUNITIES IN WISCONSIN REGARDING BUSINESS AND ECONOMIC ISSUES. FURTHERMORE, HWCC IS A FORUM FOR HMONG AND ASIAN AMERICAN ENTREPRENEURS TO DISCUSS SUCCESSES AND CHALLENGES, OFFERING SUPPORT RESULTING IN A WIN-WIN FOR ALL OF WISCONSIN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HWCC PROVIDES LOANS TO AREA BUSINESSES WHILE MAINTAINING A LESS THAN A 10% DEFAULT RATE ON THE OVERALL LOAN PORTFOLIO. HWCC PROVIDES TECHNICAL ASSISTANCE TO APPROXIMATELY 450 BUSINESSES AND INDIVIDUALS. THIS INCLUDES ONE-ON-ONE TECHNICAL ASSISTANCE, WORKSHOPS/TRAINING AND NETWORKING OPPORTUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick Martin President | OfficerTrustee | 1 | $0 |
Chimeng Yang Vice President | OfficerTrustee | 1 | $0 |
Tabatha DE Leon Secretary | OfficerTrustee | 1 | $0 |
Lue Hang Treasurer | OfficerTrustee | 1 | $0 |
Kim Thao Director | Trustee | 1 | $0 |
Warren Buliox Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,260,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $20,244 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,280,244 |
| Total Program Service Revenue | $22,418 |
| Investment income | $57,837 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $31,673 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,393,378 |
| 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. | $147,118 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $251,496 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $28,847 |
| Payroll taxes | $31,126 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $24,107 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $67,375 |
| Advertising and promotion | $12,567 |
| Office expenses | $12,306 |
| Information technology | $13,560 |
| Royalties | $0 |
| Occupancy | $34,630 |
| Travel | $27,244 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $13,392 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,330 |
| Insurance | $3,368 |
| All other expenses | $9,819 |
| Total functional expenses | $722,958 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $281,219 |
| Savings and temporary cash investments | $2,339,366 |
| Pledges and grants receivable | $25,000 |
| Accounts receivable, net | $15,127 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $957,181 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $3,678 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,085 |
| Total assets | $3,623,656 |
| Accounts payable and accrued expenses | $68,684 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $273,038 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $170,000 |
| Total liabilities | $511,722 |
| Net assets without donor restrictions | $2,862,104 |
| Net assets with donor restrictions | $249,830 |
| 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 | $3,623,656 |