Norfolk Chamber Of Commerce
- Assets
- $457.7k
- Revenue
- $736.4k
- Investments
- $0.0
- Employees
- 7
- Location
- Norfolk, NE
- Founding
- 04/1975
- Data as of
- 03/2024
- EIN
- 47-0253970
Organization Overview
Norfolk Chamber Of Commerce is located in Norfolk, NE. The organization was established in 1975. 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 03/2024, Norfolk Chamber Of Commerce employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Norfolk 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 03/2024, Norfolk Chamber Of Commerce generated $736.4k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $732.6k during the year ending 03/2024. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
BENEFIT MEMBERS THROUGH VARIOUS PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM SERVICE ACTIVITY IS ALL OF A NATURE THAT IS NORMAL AND CUSTOMARY FOR A CITY CHAMBER OF COMMERCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Austen Hagood President/ce | Officer | 50 | $118,621 |
Jason Anderson Vice Chair | OfficerTrustee | 1 | $0 |
Bill Baritt Director | Trustee | 1 | $0 |
Meghann Buresh Director | Trustee | 1 | $0 |
Erica Daake Director | Trustee | 1 | $0 |
Kyle Deets Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $720,616 |
| Investment income | $8,510 |
| 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 | $736,402 |
| 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. | $118,621 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $196,279 |
| Pension plan accruals and contributions | $1,808 |
| Other employee benefits | $4,800 |
| Payroll taxes | $25,467 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,022 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,102 |
| Office expenses | $53,863 |
| Information technology | $4,141 |
| Royalties | $0 |
| Occupancy | $733 |
| Travel | $3,729 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $740 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,009 |
| Insurance | $6,863 |
| All other expenses | $5,472 |
| Total functional expenses | $732,621 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200,177 |
| Savings and temporary cash investments | $235,304 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,838 |
| 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 | $3,694 |
| Net Land, buildings, and equipment | $1,676 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $457,689 |
| Accounts payable and accrued expenses | $36,678 |
| Grants payable | $0 |
| Deferred revenue | $85,771 |
| 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 | $122,449 |
| Net assets without donor restrictions | $335,240 |
| 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 | $457,689 |