Elbow Lake Area Chamber Of Commerce Incorporated
- Assets
- $24.4k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Elbow Lake, MN
- Founding
- 05/2011
- Data as of
- 12/2020
- EIN
- 41-6044162
Organization Overview
Elbow Lake Area Chamber Of Commerce Incorporated is located in Elbow Lake, MN. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Elbow Lake Area Chamber Of Commerce Incorporated 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 12/2020, Elbow Lake Area Chamber Of Commerce Incorporated generated $22.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (13.4%) each year. All expenses for the organization totaled $26.1k during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (13.1%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2020
Describe the Organization's Program Activity:
Part 3
DURING THE YEAR THE CHAMBER PROVIDED INFORMAITON TO THE MEMBERSHIP AND GENERAL PUBLIC OF WHAT WAS HAPPENING IN ELBOW LAKE AND THE SURROUNDING AREA. THE CHAMBER ALSO HELD SPECIAL EVENTS TO COINCIDE WITH HOLIDAYS AND OTHER ACTIVITIES HAPPENING IN THE COMMUNITY. COVID LIMITED THE ACTIVITIES OF THE CHAMBER IN 2020THE CHAMBER ALSO MAINTAINS A WEB SITE THAT PROMOTES THE ELBOW LAKE AREA AND PROVIDES INFORMATION REGARDING AREA BUSINESSES, SERVICES AVAILABLE AND ORGANIZATIONS IN THE AREA.A MAJOR ACTIVITY OF THE CHAMBER IS THE ANNUAL FESTIVAL HELD IN AUGUST TO PROMOTE THE COMMUNITY. FLEKKEFEST IS A THREE DAY EVENT HELD TO SHOWCASE THE COMMUNITY AND HELP BOOST THE ECONOMY OF THE LOCAL BUSINESSES AND ORGANIZATIONS. FLEKKEFEST IS OPERATED TOTALLY BY VOLUNTEERS AND INCLUDES ACTIVITIES FOR ALL AGES. IN 2020, DUE TO COVID, A LIMITED EVENT WAS HELD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kelly Gerber Treasurer | 1 | $0 | |
Larry Martini Director | 0 | $0 | |
Wittney Willard Director | 0 | $0 | |
Sue Kulbeik Pres/exec Dir | 3 | $14,400 | |
Ann O'flynn Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,000 |
| Total Program Service Revenue | $5,344 |
| Membership dues | $6,052 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $22,396 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $15,558 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $914 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $9,624 |
| Total expenses | $26,096 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $24,399 |
| Other assets | $0 |
| Total assets | $24,399 |
| Total liabilities | $1,455 |
| Net assets or fund balances | $22,944 |