White Bear Area Chamber Of Commerce
- Assets
- $227.4k
- Revenue
- $227.7k
- Investments
- $0.0
- Employees
- 2
- Location
- White Bear Lake, MN
- Founding
- Data as of
- 12/2022
- EIN
- 41-0841202
Organization Overview
White Bear Area Chamber Of Commerce is located in White Bear Lake, MN. As of 12/2022, White Bear Area Chamber Of Commerce employed 2 individuals. White Bear 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 12/2022, White Bear Area Chamber Of Commerce generated $227.7k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $210.1k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (0.3%) per year over the past 8 years. 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
OUR MISSION IS TO STRENGTHEN BUSINESS THROUGH ADVOCACY, NETWORKING, AND EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WHITE BEAR AREA CHAMBER OF COMMERCE PROMOTES THE BUSINESS DEVELOPMENT OF ITS SERVICE AREA AND IMPROVES THE QUALITY OF THE COMMUNITIES IT SERVES BY PLANNING AND HOSTING ACTIVITIES FOR THE PURPOSE OF FURTHERING MEMBERS BUSINESS CONTACTS AND/OR COMMUNITY DEVELOPMENT. WE HAVE BEEN PROMOTING A WASTE WISE PROGRAM TO HELP WITH RECYCLING, REUSING, AND REDUCING WASTE IN BUSINESSES LEADING TO POTENTIAL COST SAVING OPPORTUNITIES. OTHER ACTIVITIES AND EVENTS DURING 2022: AN INAUGURAL BANQUET WITH A BUSINESS AWARDS PROGRAM, ANNUAL GOLF TOURNAMENT, CHAMBER OPEN HOUSE NETWORKING EVENT, VIRTUAL AND IN-PERSON INFORMATIONAL LUNCHEON MEETINGS, AND VARIOUS OTHER NETWORKING OPPORTUNITIES HELD BOTH VIRTUAL AND IN-PERSON.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shari Wilson Executive Director | Officer | 40 | $76,555 |
Scott Bromelkamp Chair | OfficerTrustee | 1 | $0 |
Rita Pechmann Past Chair | OfficerTrustee | 1 | $0 |
Adam Hennen Treasurer | OfficerTrustee | 1 | $0 |
Peter Frank Corporate Secretary | OfficerTrustee | 1 | $0 |
Carrie Kwapick-Nasvik Chair Elect | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $20,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,430 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $22,430 |
| Total Program Service Revenue | $197,099 |
| Investment income | $8,186 |
| 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 | $227,715 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,815 |
| Grants and other assistance to domestic individuals. | $3,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $78,707 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $59,447 |
| Pension plan accruals and contributions | $2,152 |
| Other employee benefits | $0 |
| Payroll taxes | $10,481 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $820 |
| Advertising and promotion | $1,052 |
| Office expenses | $10,594 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $11,882 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,505 |
| Interest | $28 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,569 |
| Insurance | $2,573 |
| All other expenses | $2,222 |
| Total functional expenses | $210,088 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $75,293 |
| Savings and temporary cash investments | $92,812 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $52,020 |
| 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 | $5,145 |
| Net Land, buildings, and equipment | $2,090 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $227,360 |
| Accounts payable and accrued expenses | $9,452 |
| Grants payable | $0 |
| Deferred revenue | $91,525 |
| 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 | $100,977 |
| Net assets without donor restrictions | $0 |
| 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 | $126,383 |
| Total liabilities and net assets/fund balances | $227,360 |