Boone Area Chamber Of Commerce
- Assets
- $396.5k
- Revenue
- $265.7k
- Investments
- $0.0
- Employees
- 5
- Location
- Boone, IA
- Founding
- 03/1949
- Data as of
- 12/2023
- EIN
- 42-0147570
Organization Overview
Boone Area Chamber Of Commerce is located in Boone, IA. The organization was established in 1949. 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 12/2023, Boone Area Chamber Of Commerce employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Boone 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 12/2023, Boone Area Chamber Of Commerce generated $265.7k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $274.7k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (0.4%) per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ENHANCE THE ECONOMIC VITALITY AND QUALITY OF LIFE IN BOONE COUNTY
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUFFERBILLY DAYS - A CITY-WIDE CELEBRATION OF BOONE'S RAILROAD HERITAGE.
CHAMBER EVENTS - MISCELLANEOUS EVENTS AND PROGRAMS TO ACCOMPLISH THE PURPOSE OF THE CHAMBER IN GENERAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Hanson Executive Dir. | Officer | 40 | $62,282 |
Michael Hammond Executive Dir. | Officer | 40 | $22,846 |
Scott Chitty Director | Trustee | 1 | $0 |
Julie Trepa Vice President | OfficerTrustee | 2 | $0 |
Courtney Davidson Director | Trustee | 1 | $0 |
Alex Kretzinger Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $156,229 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,121 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $166,350 |
| Total Program Service Revenue | $67,993 |
| Investment income | $2,278 |
| 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 | $265,660 |
| 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. | $86,242 |
| Compensation of current officers, directors, key employees. | $28,044 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $19,584 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $11,788 |
| 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 | $6,900 |
| Advertising and promotion | $7,787 |
| Office expenses | $3,920 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,602 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $325 |
| Interest | $1,165 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,055 |
| Insurance | $8,379 |
| All other expenses | $1,167 |
| Total functional expenses | $274,727 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $74,048 |
| Savings and temporary cash investments | $63,000 |
| 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 | $3,701 |
| Net Land, buildings, and equipment | $242,788 |
| Investments—publicly traded securities | $12,984 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $396,521 |
| Accounts payable and accrued expenses | $27,633 |
| 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 | $20,842 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $48,475 |
| Net assets without donor restrictions | $330,656 |
| Net assets with donor restrictions | $17,390 |
| 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 | $396,521 |