Brookings Area Chamber Of Commerce
- Assets
- $602.1k
- Revenue
- $526.3k
- Investments
- $0.0
- Employees
- 11
- Location
- Brookings, SD
- Founding
- 10/1973
- Data as of
- 12/2022
- EIN
- 46-0121700
Organization Overview
Brookings Area Chamber Of Commerce is located in Brookings, SD. The organization was established in 1973. 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 12/2022, Brookings Area Chamber Of Commerce employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Brookings 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 12/2022, Brookings Area Chamber Of Commerce generated $526.3k 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 (6.7%) each year. All expenses for the organization totaled $600.6k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (6.8%) per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION IS DEDICATED TO SERVE ITS MEMBERS BY ENHANCING THE ECONOMIC WELL-BEING OF THE CITY OF BROOKINGS AND ITS SURROUNDING AREA AND TO IMPROVE ITS QUALITY OF LIFE AND PROSPERITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTING THE WELFARE OF THE CITY OF BROOKINGS, SOUTH DAKOTA AND THE SURROUNDING AREA. ENCOURAGING BUSINESS GROWTH THROUGH MEMBERSHIPS, MARKETING AND COMMUNICATIONS AND EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kelsey Doom Executive Di | Officer | 40 | $79,800 |
Kyle Bender Chair | Trustee | 1 | $0 |
Sean Binker Past Chair | Trustee | 1 | $0 |
Paul Glik Treasurer | Trustee | 1 | $0 |
Lora Berg Director | Trustee | 1 | $0 |
Steve Carnes Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $87,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $182,330 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $269,830 |
| Total Program Service Revenue | $262,415 |
| Investment income | -$26,771 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$4,322 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $526,317 |
| 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 | $217,909 |
| Pension plan accruals and contributions | $6,115 |
| Other employee benefits | $17,367 |
| Payroll taxes | $19,607 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $18,995 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $127,656 |
| Office expenses | $26,283 |
| Information technology | $10,300 |
| Royalties | $0 |
| Occupancy | $26,956 |
| Travel | $3,300 |
| 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 | $2,841 |
| Insurance | $4,736 |
| All other expenses | $7,323 |
| Total functional expenses | $600,601 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $256,827 |
| Savings and temporary cash investments | $30,325 |
| 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 | $0 |
| Net Land, buildings, and equipment | $16,793 |
| Investments—publicly traded securities | $237,445 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $60,669 |
| Total assets | $602,059 |
| Accounts payable and accrued expenses | $619 |
| 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 | $89,050 |
| Total liabilities | $89,669 |
| Net assets without donor restrictions | $512,390 |
| 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 | $602,059 |