Marshalltown Chamber Of Commerce
- Assets
- $1.9m
- Revenue
- $780.9k
- Investments
- $220.5k
- Employees
- 7
- Location
- Marshalltown, IA
- Founding
- 05/1945
- Data as of
- 06/2022
- EIN
- 42-0283255
Organization Overview
Marshalltown Chamber Of Commerce is located in Marshalltown, 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 06/2022, Marshalltown Chamber Of Commerce employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Marshalltown 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 06/2022, Marshalltown Chamber Of Commerce generated $780.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (6.4%) each year. All expenses for the organization totaled $661.3k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (2.8%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Marshalltown Chamber Of Commerce has awarded 11 individual grants totaling $109,932. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE BUSINESS ACTIVITY THAT ENSURES THE HIGHEST QUALITY OF LIFE FOR PRESENT AND FUTURE GENERATIONS OF AREA RESIDENTS WHILE PRMOTING ECONOMIC DEVELOPMENT AND FOSTERTING TOURISM IN THE CITY OF MARSHALLTOWN AND MARSHALL COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION HAS 470 MEMBERS. THE ORGANIZATION CARRIES OUT ACTIVITIES THROUGHOUT THE YEAR TO HELP PROMOTE THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dan Moellers Board Member | Trustee | 2 | $0 |
Pam Delagardelle Board Member | Trustee | 2 | $0 |
Erin Mcgregor Board Member | Trustee | 2 | $0 |
Abigail Pelzer Board Member | Trustee | 2 | $0 |
Jill Lutes Past Chair | Trustee | 2 | $0 |
Todd Steinkamp Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $297,985 |
| Investment income | $17,416 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$13,576 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $780,888 |
| Statement of Expenses | |
|---|---|
| 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. | $51,778 |
| Compensation to disqualified persons | $238,403 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $28,742 |
| Payroll taxes | $25,593 |
| Fees for services: Management | $4,447 |
| Fees for services: Legal | $8,058 |
| Fees for services: Accounting | $18,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,974 |
| Advertising and promotion | $0 |
| Office expenses | $19,742 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $7,960 |
| Travel | $9,026 |
| 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 | $6,479 |
| Insurance | $7,522 |
| All other expenses | $0 |
| Total functional expenses | $661,345 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,022,346 |
| Savings and temporary cash investments | $582,523 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,529 |
| 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 | $6,414 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $220,492 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,895,875 |
| Accounts payable and accrued expenses | $24,830 |
| Grants payable | $0 |
| Deferred revenue | $82,660 |
| 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 | $95,502 |
| Total liabilities | $202,992 |
| Net assets without donor restrictions | $1,692,883 |
| 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 |
| Total liabilities and net assets/fund balances | $1,692,883 |
Grants Awarded
Over the last fiscal year, Marshalltown Chamber Of Commerce has awarded $45,265 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
EASTERN IOWA COFFEE PURPOSE: RETAIL INCENTIVE PROGRAM | $25,000 |
REAL DEALS PURPOSE: RETAIL INCENTIVE PROGRAM | $6,265 |
MARSHALLTOWN ARTS & CIVIC CENTER PURPOSE: CAPITAL PROJECTS PROGRAM | $14,000 |