Fremont Area Chamber Of Commerce
- Assets
- $159.8k
- Revenue
- $370.5k
- Investments
- $0.0
- Employees
- 5
- Location
- Fremont, NE
- Founding
- 03/1946
- Data as of
- 12/2022
- EIN
- 47-0166590
Organization Overview
Fremont Area Chamber Of Commerce is located in Fremont, NE. The organization was established in 1946. 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, Fremont 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. Fremont 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, Fremont Area Chamber Of Commerce generated $370.5k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $368.7k during the year ending 12/2022. While expenses have increased by 3.3% per year over the past 5 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
THE FREMONT AREA CHAMBER OF COMMERCE WORKS TO PROMOTE A FAVORABLE BUSINESS CLIMATE FOR ITS MEMBERSHIP AND PROVIDE LEADERSHIP TO IMPROVE THE ECONOMY AND QUALITY OF LIFE IN THE FREMONT AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CHAMBER IS ORGANIZED INTO FIVE SEPERATE COUNCILS TO ACHIEVE THEIR GOALS THROUGH PROGRAMS AND EVENTS THAT ARE IN THE BEST INTEREST OF ITS MEMBERSHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tara Lea Secretary | OfficerTrustee | 40 | $118,241 |
Jessica Kolterman Director | Trustee | 1 | $0 |
Karna Dam Chairman | OfficerTrustee | 1 | $0 |
Kent Speicher Treasurer | OfficerTrustee | 1 | $0 |
Carol Fenske Director | Trustee | 1 | $0 |
Taylor Jeppesen Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $277,109 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $9,362 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,575 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $291,046 |
| Total Program Service Revenue | $78,607 |
| Investment income | $835 |
| 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 | $370,488 |
| 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. | $118,241 |
| Compensation of current officers, directors, key employees. | $118,241 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $129,728 |
| Pension plan accruals and contributions | $6,986 |
| Other employee benefits | $602 |
| Payroll taxes | $19,221 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,840 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,786 |
| Advertising and promotion | $97 |
| Office expenses | $3,186 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $14,405 |
| Travel | $190 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,699 |
| Interest | $53 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,680 |
| Insurance | $824 |
| All other expenses | $12,440 |
| Total functional expenses | $368,743 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $151,247 |
| Savings and temporary cash investments | $0 |
| 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 | $8,547 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $159,794 |
| Accounts payable and accrued expenses | $0 |
| 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 | $12,704 |
| Total liabilities | $12,704 |
| 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 | $147,090 |
| Total liabilities and net assets/fund balances | $159,794 |