Fairfield Chamber Of Commerce Inc
- Assets
- $383.2k
- Revenue
- $122.2k
- Investments
- $0.0
- Employees
- 3
- Location
- Fairfield, IA
- Founding
- 05/1945
- Data as of
- 12/2023
- EIN
- 42-0239943
Organization Overview
Fairfield Chamber Of Commerce Inc is located in Fairfield, IA. The organization was established in 1945. 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, Fairfield Chamber Of Commerce Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fairfield Chamber Of Commerce Inc 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, Fairfield Chamber Of Commerce Inc generated $122.2k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.9%) each year. All expenses for the organization totaled $158.0k during the year ending 12/2023. 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 PROMOTE LOCAL BUSINESSES AND BUSINESS DEVELOPMENT IN FAIRFIELD, IOWA
Describe the Organization's Program Activity:
Part 3 - Line 4a
BLAST OFF GOLF TOURNAMENT- THE CHAMBERS PREMIER NETWORKING EVENT ALLOWING BUSINESS LEADERS TO HAVE A FULL DAY OF FUN AND PRIZES. THE LADIES AND MEN PLAY SEPARATELY; ONE AT THE BEAUTIFUL, LAKESIDE WALTON CLUB AND THE OTHER AT THE OLDEST COUNTRY CLUB WEST OF THE MISSISSIPPI, THE FAIRFIELD GOLF AND COUNTRY CLUB. FOR A FEE, TEAMS OF FOUR ENJOY 18 HOLES OF GOLF WITH LOTS OF GIVEAWAYS, HOLE CONTEST, PRIZES, AND DRINKS ALONG WITH LUNCH AND THE PAR-TEE THE NIGHT BEFORE. THIS EVENT RAISES FUNDS TO SUPPORT OUR CHAMBER MISSION AND TO SUPPORT OUR MEMBERS.
ANNUAL AWARDS BANQUET-THIS IS OUR ANNUAL CELEBRATION EVENT FOR THE FAIRFIELD AREA CHAMER OF COMMERCE, OUR CHAMBER MEMBERS, AND THE FAIRFIELD COMMUNITY. ALL THE GLITZ AND GLAM OF AN AWARDS SHOW WITH AN OUTSTANDING MEAL, ENTERTAINMENT, AND MORE. EVERY AWARD THE CHAMBER GIVES RECOGNIZES OUTSTANDING INVESTMENT AND INNOVATION ACHIEVED BY FAIRFIELD BUSINESS AND COMMUNITY INSTITUTIONS. HONORED ACHIEVEMENTS INCLUDE CAPITAL IMPROVEMENTS, COMMUNITY INVESTMENT, INNOVATION, AND LIFELONG ACCOMPLISHMENT, AND MORE. THE ANNUAL AWARDS BANQUET EVENING CULMINATES WITH THE ANNOUNCEMENT OF THE CITIZEN OF THE YEAR AWARD. THESE HONOREES ARE SELECTED BY PREVIOUS WINNERS AND ARE RECOGNIZED FOR THEIR OUTSTANDING VOLUNTEER SERVICE WHICH SIGNIFICANTLY CONTRIBUTED TO THE BETTERMENT OF COMMUNITY LIFE IN FAIRFIELD. THE CHAMBERS ANNUAL AWARDS BANQUET CELEBRATES PROGRESS IN OUR COMMUNITY. THE EXCITEMENT AND INTENSITY GROW TO THE FINAL AWARD: CITIZEN OF THE YEAR
BARNYARD BASH- THIS IS OUR CELEBRATION OF ALL THAT MAKES AGRICULTURE AMAZING. HELD AT THE HISTORIC MASSDAM BARNS, 1,000 PEOPLE ATTEND TO PARTAKE IN THE INTERACTIVE BOOTHS OF AREA BUSINESSES. THE JEFFERSON COUNTY CATTLEMEN AND PORK PRODUCERS ARE ON SITE GRILLING. HORSE DRAWN WAGON RIDES, BARREL TRAIN RIDES, FACE PAINTING, BOUNCE HOUSES, AND SO MUCH MORE IS AVAILABLE TO OUR COMMUNITY AS IS COMPLETELY FREE THANKS TO SPONSORS AND DONORS. FAMILIES CAN SHELL CORN, MAKE ROPE, AND PUT=UP HAY WITH HORSES JUST LIKE OUR ANCESTORS. ANIMALS OF ALL KINDS ARE THERE ARE THERE FOR PETTING, FEEDING, AND LEARNING ABOUT ALL THE CHARACTERISTICS OF EACH CRITTER. THE CONSERVATION FARMER OF THE YEAR IS THE MOST CELEBRATED PART OF THE EVENING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carrie Lathrop Director | Trustee | 0.5 | $0 |
Ryan Holthus Director | Trustee | 0.5 | $0 |
Claire Reid Director | Trustee | 0.5 | $0 |
Jill Kordick Director | Trustee | 0.5 | $0 |
Jeff Ring Director | Trustee | 0.5 | $0 |
Mark Swan Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $75,658 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,020 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $81,678 |
| Total Program Service Revenue | $133 |
| Investment income | $7,711 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $30,257 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$880 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $122,157 |
| 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. | $72,500 |
| Compensation of current officers, directors, key employees. | $36,250 |
| Compensation to disqualified persons | $29,468 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,474 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,059 |
| Fees for services: Other | $0 |
| Advertising and promotion | $469 |
| Office expenses | $5,947 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $14,486 |
| Travel | $1,069 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $466 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $50 |
| Insurance | $2,518 |
| All other expenses | $0 |
| Total functional expenses | $158,000 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $113,666 |
| Savings and temporary cash investments | $33,341 |
| 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 | $15,525 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $220,629 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $383,161 |
| Accounts payable and accrued expenses | $9,490 |
| 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 | $0 |
| Total liabilities | $9,490 |
| Net assets without donor restrictions | $373,671 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $383,161 |