Solomons Business Association Inc
- Assets
- $26.9k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Solomons, MD
- Founding
- 12/1996
- Data as of
- 12/2022
- EIN
- 52-1993093
Organization Overview
Solomons Business Association Inc is located in Solomons, MD. The organization was established in 1996. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Solomons Business Association Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2022, Solomons Business Association Inc generated $59.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $68.9k during the year ending 12/2022. While expenses have increased by 3.6% 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vandy Young President/tr | 0 | $0 | |
Jennifer Stotler Vice Preside | 0 | $0 | |
Thomas Bird Member | 0 | $0 | |
Carmen Nance Gambrill Member | 0 | $0 | |
Gwyn Novak Member | 0 | $0 | |
Norman Stafford Member | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $57,034 |
| Membership dues | $2,250 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $59,284 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $2,030 |
| Occupancy, rent, utilities, and maintenance | $2,730 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $64,146 |
| Total expenses | $68,906 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $26,900 |
| Other assets | $0 |
| Total assets | $26,900 |
| Total liabilities | $24,924 |
| Net assets or fund balances | $1,976 |