Salon & Spa Professional Association Inc
- Assets
- $50.9k
- Revenue
- $169.8k
- Investments
- $0.0
- Employees
- 3
- Location
- Bloomington, MN
- Founding
- 04/1952
- Data as of
- 12/2022
- EIN
- 41-0830538
Organization Overview
Salon & Spa Professional Association Inc is located in Bloomington, MN. The organization was established in 1952. According to its NTEE Classification (S03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Salon & Spa Professional Association Inc employed 3 individuals. This organization is an itermediate organization (such as a geographic headquarters) for a national or regional group of organizations. Salon & Spa Professional Association 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, Salon & Spa Professional Association Inc generated $169.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $195.1k during the year ending 12/2022. While expenses have increased by 1.4% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE EDUCATION AND TRAINING FOR ITS MEMBERSHIP AND TO KEEP THEM INFORMED ON THE LAWS AND REGULATIONS AFFECTING THE INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE EDUCATION AND TRAINING FOR MEMBERS.
N/A
N/A
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Katherine Martin President/ch | Officer | $0 | |
Barbara Baruth Director | Trustee | $0 | |
Alva Mcmillan Secretary/tr | Trustee | $0 | |
Laurie Boggess Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $21,865 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $21,865 |
| Total Program Service Revenue | $0 |
| Investment income | $18 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $548 |
| 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 | $169,844 |
| 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 | $47,781 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,964 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,485 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $6,453 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $23,180 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $59,729 |
| Interest | $1,362 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $921 |
| Insurance | $2,615 |
| All other expenses | $6,095 |
| Total functional expenses | $195,127 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,720 |
| Savings and temporary cash investments | $25,247 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $214 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,706 |
| Total assets | $50,887 |
| Accounts payable and accrued expenses | $14,391 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,447 |
| Total liabilities | $16,838 |
| Net assets without donor restrictions | $34,049 |
| 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 | $50,887 |