Dewitt Chamber & Development Co
- Assets
- $798.3k
- Revenue
- $271.8k
- Investments
- $0.0
- Employees
- 5
- Location
- Dewitt, IA
- Founding
- 07/1994
- Data as of
- 05/2022
- EIN
- 42-1342254
Organization Overview
Dewitt Chamber & Development Co is located in Dewitt, IA. The organization was established in 1994. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 05/2022, Dewitt Chamber & Development Co employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dewitt Chamber & Development Co is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 05/2022, Dewitt Chamber & Development Co generated $271.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $237.9k during the year ending 05/2022. While expenses have increased by 3.8% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
LEAD, INFORM, ADVOCATE AND ADVANCE BUSINESS INTERESTS AND PROMOTE COMMUNITY GROWTH IN DEWITT. OUR CORE FOCUS IS TO SUPPORT EXISTING BUSINESSES, ATTRACT NEW BUSINESS, AND ASSIST IN ENHANCING THE QUALITY OF LIFE FOR OUR COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE DCDC IS INVOLVED IN SUPPORTING EXISTING BUSINESSES AND RECRUITING NEW BUSINESSES TO THE DEWITT AREA. THE DCDC PARTNERS WITH THREE REGIONAL ECONOMIC DEVELOPMENT ENTITIES, GROW CLINTON, QUAD CITIES CHAMBER, AND PROSPERITY EASTERN IOWA, AND THE STATE OF IOWA TO RECRUIT NEW BUSINESS TO THE CROSSROADS BUSINESS PARK AND COMMUNITY AT LARGE. OUR STAFF PARTNERS LEAD COMMUNITY WORKFORCE DEVELOPMENT INITIATIVES WITH BUSINESSES, COMMUNITY COLLEGES AND HIGH SCHOOLS IN OUR REGION; INCLUDING ROUNDTABLE DISCUSSIONS, MOCK INTERVIEWS, JOB SHADOWS AND INTERNSHIPS. THE DCDC CONTINUE CONVERSATIONS WITH OUR AREA COMMUNITY COLLEGE TO EXPAND SERVICES TO OUR COMMUNITY FOR HIGH SCHOOL STUDENTS. THE DCDC PARTNERED WITH THE SMALL BUSINESS DEVELOPMENT CENTER TO PROVIDE FREE COUNSELING FOR BUSINESS OWNERS, 18 BUSINESSES PARTICIPATED. 49,100 OF CHAMBER BUCKS GIFT CHECKS WERE PURCHASED, DEEPENING SPENDING DOLLARS IN DEWITT. A LOOK LOCAL FIRST INITIATIVE WAS MAINTAINED, ENCOURAGING RESIDENTS, EMPLOYEES AND VISITORS TO PURCHASE GOODS AND SERVICES IN THE COMMUNITY. TO DATE THE LLF PROGRAM HAS TRACKED 4.27 MILLION DOLLARS IN LOCAL PURCHASES. THE DCDC LEAD THE COMMUNITY IN SHARING GENERAL AND ORGANIZATION SPECIFIC INFORMATION REGARDING FERAL AND STATE COVID RECOVERY INITIATIVES WITH AREA BUSINESSES.
THE DCDC PROMOTES MEMBER DEVELOPMENT. MEMBERSHIP INCLUDES 258 MEMBER BUSINESSES. WITH SENSITIVITY TO COVID RECOVERY AND OTHER COMMUNITY ECONOMIC REALITIES, THE MEMBERSHIP DUES STRUCTURE DID NOT CHANGE. WE CONTINUE TO OFFER A DUES STRUCTURE THAT ALLOWS MEMBERS TO CHOOSE THE TIER OF MEMBERSHIP THEY CAN AFFORD. THE DCDC AMBASSADORS WELCOMED 6 NEW BUSINESS TO DEWITT AND CELEBRATED 2 SPOTLIGHT ON SUCCESSSES FOR EXISTING BUSINESS GROWTH AND PARTICIPATED IN 1 GROUND BREAKING. WE RECOGNIZED OUR OUTSTANDING MEMBERS IN OUR "MEMBERS CHOICE AWARDS" THAT ALLOWS MEMBERS AND THE COMMUNITY TO CAST THEIR VOTE IN DIFFERENT CATEGORIES OF BUSINESS EXCELLENCE. MONTHLY NETWORKING EVENTS AND QUARTERLY LUNCH AND LEARN MEETINGS ARE HELD. NEW MEMBER PACKETS ARE DISTRIBUTED AND QUARTERLY DCDC 101 INFORMATION SESSIONS ARE HELD FOR NEW MEMBERS AND CONTACTS. THE ANNUAL GOLF BASH FUNDRAISER WAS HELD. THE DCDC NEWSLETTER IS SENT TO 750 PEOPLE ON A MONTHLY BASIS.
THE DCDC WORKS TO IMPROVE BRANDING AND COMMUNITY RELATIONS FOR THE DEWITT COMMUNITY. TOTAL NUMBER OF COMMUNITY EVENTS WE PROMOTED GREW TO 738 COMMUNITY EVENTS WHICH WAS DISTRIBUTED TO THOUSANDS OF SUBSCRIBERS TO OUR WEEKLY "WHAT'S HAPPENING IN DEWITT" E-NEWSLETTER. THOUSANDS OF VISITORS BROCHURES AND COMMUNITY GUIDES WERE DISTRIBUTED TO RESIDENTS, EMPLOYEES AND VISITORS. NEW SUMMER BANNERS WERE PURCHASED AND HUNG IN OUR DOWNTOWN. HOLIDAY DECORATIONS ARE HUNG ALONG TWO PRIMARY STREETS AND 4 SIDE STREETS. A "WELCOME TO DEWITT" PROGRAM FOR NEW RESIDENTS AND EMPLOYEES CONTINUES TO BE OFFERED TO NEW RESIDENTS. THE PROGRAM WAS EXTENDED TO POTENTIAL EMLOYEES TO BETTER SUPPORT OUR EXISTING BUSINESSES AS THEY WORK TO ATTRACT A HIGH QUALITY WORK FORCE. THE DCDC PARTNERS WITH THE EASTERN IOWA TOURISM ASSOCIATION AND VISIT QUAD CITIES TO ASSIST IN PROMOTING COMMUNITY ATTRACTIONS AND BUSINESSES TO VISITORS. THE DCDC WEBSITE, DEWITTIOWA.ORG, CONTINUES TO BE THE PRIMARY DEWITT COMMUNITY WEBSITE. IT HAD OVER 21,367 PAGE VIEWS AND 235,369 PAGE CLICKS. A DEWITT DELIVERS COMMUNITY BLOG, WWW.DEWITTDELIVERS.COM AND WEEKLY EMAIL, "WHAT'S HAPPENING IN DEWITT" GOES TO 2,000+ PEOPLE. A LOCAL JOB POSTING FUNCTION OF THE WEBSITE IS PROMOTED AND SUCCESSFULLY UTILIZED, NEARLY DOUBLING OVER LAST YEAR TO 21,367 WEBSITE VIEWS IN THE PAST YEAR. SEVERAL COMMUNITY EVENTS WERE COORDINATED BY THE DCDC INCLUDING SUMMER MOVIES IN THE PARK, AUTUMN FEST, SANTA VISITS, A HOMETOWN CHRISTMAS WEEKEND AND COMMUNITY WINE WALK. THE DCDC LEAD COMMUNITY EFFORTS TO SUPPORT RAGBRAI AS AN OVERNIGHT HOST COMMUNITY FOR NEARLY 15,000 BIKE RIDERS.
SUPPORT EXISTING BUSINESSES, ATTRACT NEW BUSINESS,AND ASSIST IN ENHANCING THE QUALITY OF LIFE FOR OUR COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Angela Rheingans Board Sec/ex | Officer | 56 | $97,750 |
Josh Daniel Chair | OfficerTrustee | 1.25 | $0 |
Greg Gannon Treasurer | OfficerTrustee | 1.25 | $0 |
Dan Peterson Vice Chair | OfficerTrustee | 1.25 | $0 |
Kim Broders Director | Trustee | 0.4 | $0 |
Gary Chrones City Council | Trustee | 0.4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $114,408 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $15,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $74,750 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $204,658 |
| Total Program Service Revenue | $31,046 |
| Investment income | $1,446 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$31,762 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $271,817 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $164,339 |
| Pension plan accruals and contributions | $4,930 |
| Other employee benefits | $0 |
| Payroll taxes | $12,572 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,105 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8,181 |
| Office expenses | $3,292 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,135 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,435 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $294 |
| Insurance | $2,595 |
| All other expenses | $9,708 |
| Total functional expenses | $237,880 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,847 |
| Savings and temporary cash investments | $586,919 |
| 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 | $158,341 |
| Prepaid expenses and deferred charges | $2,850 |
| Net Land, buildings, and equipment | $408 |
| Investments—publicly traded securities | $39,950 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $798,315 |
| Accounts payable and accrued expenses | $9,308 |
| 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 | $108,791 |
| Total liabilities | $118,099 |
| Net assets without donor restrictions | $0 |
| 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 | $680,216 |
| Total liabilities and net assets/fund balances | $798,315 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Metropolitan Entertainment & Omaha, NE | $158,635,208 | $95,451,675 |
Chicago Convention & Tourism Bureau Inc Chicago, IL | $13,640,210 | $19,015,508 |
Financial Health Network Inc Chicago, IL | $19,686,455 | $18,603,239 |
Southern Minnesota Initiative Foundation Owatonna, MN | $74,043,196 | $20,001,758 |
Vocational Development Center Inc Council Bluffs, IA | $12,984,673 | $16,204,305 |
Southern Iowa Economic Development Association Ottumwa, IA | $4,848,905 | $15,262,424 |
St Louis Economic Development Partnership Saint Louis, MO | $27,235,860 | $13,883,018 |
Crosswalk Community Action Agency Inc West Frankfort, IL | $2,780,027 | $11,762,821 |
Wisconsin Dells Visitor & Convention Bureau Wisconsin Dells, WI | $26,952,168 | $17,110,395 |
Convention & Visitors Bureau Of Greater Kansas City Kansas City, MO | $12,878,337 | $11,432,355 |
Wbd Inc Madison, WI | $14,868,892 | $9,399,155 |
Metropolitan Economic Development Association Minneapolis, MN | $45,113,584 | $12,064,856 |