Colorado Restaurant Association Inc
- Assets
- $3.1m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 18
- Location
- Denver, CO
- Founding
- 01/1944
- Data as of
- 12/2021
- EIN
- 84-0503735
Organization Overview
Colorado Restaurant Association Inc is located in Denver, CO. The organization was established in 1944. 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 12/2021, Colorado Restaurant Association Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Colorado Restaurant Association Inc 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 12/2021, Colorado Restaurant Association Inc generated $2.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $2.4m during the year ending 12/2021. While expenses have increased by 2.8% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
DEDICATED TO THE ENHANCEMENT AND SUCCESS OF COLORADO'S FOOD SERVICE INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONVENTION: THE ASSOCIATION HOLDS A CONVENTION WHICH ALLOWS MEMBERS TO LEARN THE LATEST PRODUCTS AND SERVICES THAT SERVE THE RESTAURANT INDUSTRY. IN ADDITION, EDUCATION SESSIONS ARE HELD ON SUBJECTS PERTINENT TO RESTAURANT OWNERS AND MANAGERS. IN 2021 THE CONVENTION WAS NOT HELD DUE TO THE PANDEMIC AND ASSOCIATED CONCERNS OVER THE CORONAVIRUS VARIANTS.
MEMBERSHIP SERVICES: IN ADDITION TO EDUCATION AND KEEPING MEMBERS ABREAST OF CURRENT GOVERNMENT AFFAIRS AFFECTING THEIR BUSINESSES, THE ASSOCIATION PROVIDES A VARIETY OF OTHERS SERVICES TO MEMBERS. THESE SERVICES INCLUDE PROVIDING DISCOUNT PROGRAMS THROUGH ENDORSED VENDORS, HOSTING EVENTS AND MEETINGS TO PROVIDE NETWORKING OPPORTUNITIES, AS WELL AS ASSISTING MEMBER GROUPS LOCALLY IN PRODUCING NETWORKING OPPORTUNITIES.
SPECIAL EVENTS: THE ASSOCIATION HOLDS TWO EVENTS, INDUSTRY SPOTLIGHT AWARDS AND THE LIFETIME ACHIEVEMENT AWARDS, BOTH WHICH HONOR OUTSTANDING INDUSTRY PROFESSIONALS AND OUTSTANDING STAFF WITH APPROXIMATELY 200 AND 130 ATTENDEES RESPECTIVELY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sonia Riggs President & CEO | Officer | 39 | $236,904 |
Devany Mcneil VP Of Strategic Parnterships | 39 | $119,752 | |
Michael Reed Cfo/controller | Officer | 39 | $94,389 |
Scott Engelman Immedidate Past Chair | OfficerTrustee | 4 | $0 |
Kc Gallagher Immedidate Past Chair Thru 10/21 | OfficerTrustee | 4 | $0 |
Jason Gumer Secretary | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $276,023 |
| 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 | $276,023 |
| Total Program Service Revenue | $1,817,055 |
| Investment income | $51,532 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $224,188 |
| 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 | $2,501,451 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $74,652 |
| 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. | $352,962 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $922,627 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $100,200 |
| Payroll taxes | $93,082 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,398 |
| Fees for services: Accounting | $41,368 |
| Fees for services: Lobbying | $112,897 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $16,575 |
| Fees for services: Other | $81,734 |
| Advertising and promotion | $0 |
| Office expenses | $36,130 |
| Information technology | $37,042 |
| Royalties | $0 |
| Occupancy | $84,636 |
| Travel | $24,061 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $47,459 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $22,575 |
| Insurance | $13,094 |
| All other expenses | $0 |
| Total functional expenses | $2,448,473 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $123,901 |
| Savings and temporary cash investments | $151,726 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $159,798 |
| 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 | $54,354 |
| Net Land, buildings, and equipment | $394,895 |
| Investments—publicly traded securities | $2,019,207 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $174,936 |
| Total assets | $3,078,817 |
| Accounts payable and accrued expenses | $437,177 |
| Grants payable | $0 |
| Deferred revenue | $162,628 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $50,000 |
| 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 | $649,805 |
| Net assets without donor restrictions | $2,429,012 |
| 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 | $3,078,817 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Colorado Restaurant Association Inc has recieved totaling $40,025.
| Awarding Organization | Amount |
|---|---|
National Restaurant Association Washington, DC PURPOSE: Advocacy | $20,000 |
Republic National Distributing Company Foundation Inc Atlanta, GA PURPOSE: COMMUNITY SERVICE | $10,000 |
T Kevin Mcnicholas Foundation Denver, CO PURPOSE: EDUCATION ASSISTANCE | $10,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $25 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mountain States Employers Council Inc Denver, CO | $41,916,661 | $36,504,782 |
Vail Valley Foundation Inc Avon, CO | $22,993,237 | $18,789,291 |
Scrum Alliance Inc Westminster, CO | $46,979,666 | $21,000,085 |
Investment Management Consultants Assn Inc Greenwood Village, CO | $30,192,603 | $13,414,601 |
National Council For Prescription Drug Programs Inc Scottsdale, AZ | $21,339,680 | $12,526,720 |
International Association Of Certified Home Inspectors Boulder, CO | $7,671,295 | $15,005,233 |
International Association For The Study Of Lung Cancer Denver, CO | $23,299,078 | $13,685,313 |
Scottsdale Convention And Vistors Bureau Inc Scottsdale, AZ | $8,006,659 | $12,242,411 |
Nutech Ventures Lincoln, NE | $5,844,401 | $7,636,320 |
Financial Planning Association Denver, CO | $6,740,399 | $8,225,248 |
Supima Tempe, AZ | $14,183,773 | $7,283,999 |
The Greater Colorado Springs Chamber And Edc Colorado Springs, CO | $2,246,029 | $6,426,509 |