Lincoln Area Business Association
- Assets
- $99.1k
- Revenue
- $22.3k
- Investments
- $0.0
- Employees
- 3
- Location
- Cushing, MN
- Founding
- 03/1998
- Data as of
- 04/2022
- EIN
- 41-1535892
Organization Overview
Lincoln Area Business Association is located in Cushing, MN. The organization was established in 1998. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 04/2022, Lincoln Area Business Association employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lincoln Area Business Association 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 04/2022, Lincoln Area Business Association generated $22.3k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.7% each year . All expenses for the organization totaled $8.8k during the year ending 04/2022. While expenses have increased by 31.0% 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
OUR ASSOCIATION MARKETS THE LOCAL COMMUNITY TO POTENTIAL NEW BUSINESSES AND TO BRING IN TOURISTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR ASSOCIATION MARKETS THE LOCAL COMMUNITY TO TOURISTS AND OTHERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cindy Brey Secretary | OfficerTrustee | 1.5 | $1,841 |
Herb Bloomquist President | OfficerTrustee | 1.5 | $0 |
Peg Hartung Vice Preside | OfficerTrustee | 1.5 | $0 |
Todd Krajsa Treasurer | OfficerTrustee | 1.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| 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 | $0 |
| Total Program Service Revenue | $5,575 |
| Investment income | $32 |
| 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 | $16,732 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $22,339 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $73,219 |
| Grants and other assistance to domestic individuals. | $10,000 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,183 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | -$77,369 |
| Total functional expenses | $8,835 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $93,919 |
| Savings and temporary cash investments | $0 |
| 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 | $3,473 |
| Prepaid expenses and deferred charges | $50 |
| Net Land, buildings, and equipment | $1,668 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $99,110 |
| Accounts payable and accrued expenses | $0 |
| 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 | $2,468 |
| Total liabilities | $2,468 |
| 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 | $96,642 |
| Total liabilities and net assets/fund balances | $99,110 |
Grants Awarded
Over the last fiscal year, Lincoln Area Business Association has awarded $34,586 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SCANDIA VALLEY TOWNSHIP | | | $20,000 |
SCANDIA VALLEY FIRST RESPONSE | | | $14,586 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lakes And Pines Community Action Council Inc Mora, MN | $3,434,723 | $9,795,071 |
Community Action Inc Of Rock And Walworth Counties Beloit, WI | $10,640,793 | $9,364,558 |
Kootasca Community Action Inc Grand Rapids, MN | $3,733,183 | $8,667,071 |
Impact Seven Incorporated Rice Lake, WI | $149,638,063 | $17,926,158 |
North Central Community Action Program Inc wisconsin rapids, WI | $2,366,497 | $7,790,312 |
St Paul Auto Dealers And District 77 Lodge Iamaw Joint Fund Bloomington, MN | $6,441,158 | $6,840,517 |
Community Facility Public Private Partnerships Minnetonka, MN | $139,342,573 | $6,847,373 |
Emerge Community Development Minneapolis, MN | $6,688,888 | $6,982,216 |
Regional Development Authority Davenport, IA | $4,541,432 | $7,109,702 |
Southwestern Minnesota Opportunity Council Inc Worthington, MN | $6,681,573 | $5,602,564 |
Thunder Valley Community Development Corporation Porcupine, SD | $24,786,426 | $14,048,128 |
South Central Iowa Community Action Program Inc Chariton, IA | $1,633,928 | $5,339,343 |