Lanesboro Area Chamber Of Commerce is located in Lanesboro, MN. The organization was established in 2005. 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 12/2021, Lanesboro Area Chamber Of Commerce employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lanesboro 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, Lanesboro Area Chamber Of Commerce generated $176.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $171.5k during the year ending 12/2021. While expenses have increased by 2.6% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTION OF THE CITY OF LANESBORO & AREA
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTED TOURISM WITHIN THE LANESBORO AREA.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Andrzej J Zalasinski Executive Director | Officer | 40 | $45,997 |
Kara Maloney Secretary | Trustee | 1 | $0 |
Alison Leathers President | Trustee | 1 | $0 |
Louanne Hamann Vice President | Trustee | 1 | $0 |
Joe Goetzke Treasurer | Trustee | 1 | $0 |
Hal Cropp Director | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $33,466 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $27,542 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $61,008 |
Total Program Service Revenue | $115,129 |
Investment income | $22 |
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 | $176,439 |
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. | $45,997 |
Compensation of current officers, directors, key employees. | $45,997 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $8,855 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $7,377 |
Fees for services: Management | $2,844 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $663 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $1,186 |
Advertising and promotion | $67,539 |
Office expenses | $10,618 |
Information technology | $3,354 |
Royalties | $0 |
Occupancy | $8,584 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $1,292 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $1,977 |
All other expenses | $300 |
Total functional expenses | $171,531 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $89,300 |
Savings and temporary cash investments | $43,894 |
Pledges and grants receivable | $0 |
Accounts receivable, net | -$42 |
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 | $1,696 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $134,848 |
Accounts payable and accrued expenses | $3,096 |
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 | $10,288 |
Total liabilities | $13,384 |
Net assets without donor restrictions | $114,204 |
Net assets with donor restrictions | $7,260 |
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 | $134,848 |
Organization Name | Assets | Revenue |
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