Seward Chamber Of Commerce Inc
- Assets
- $334.6k
- Revenue
- $551.6k
- Investments
- $0.0
- Employees
- 11
- Location
- Seward, AK
- Founding
- 07/1986
- Data as of
- 12/2023
- EIN
- 92-0061893
Organization Overview
Seward Chamber Of Commerce Inc is located in Seward, AK. The organization was established in 1986. 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 12/2023, Seward Chamber Of Commerce Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Seward Chamber Of Commerce 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 12/2023, Seward Chamber Of Commerce Inc generated $551.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $674.5k during the year ending 12/2023. While expenses have increased by 5.5% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE AND SUPPORT OUR MEMBERS IN MAINTAINING A DIVERSIFIED ECONOMY AND POSITIVE BUSINESS AND LIVING ENVIRONMENT IN THE GREATER SEWARD AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE AND SUPPORT OUR MEMBERS IN MAINTAINING A DIVERSIFIED ECONOMY AND POSITIVE BUSINESS AND LIVING ENVIRONMENT IN THE GREATER SEWARD AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melissa Schutter President | OfficerTrustee | 4 | $0 |
Geri Nipp Treasurer | OfficerTrustee | 2 | $0 |
Jena Petersen Director | Trustee | 2 | $0 |
Hillary Bean Director | Trustee | 2 | $0 |
Matt Cope Director | Trustee | 2 | $0 |
Kat Sorensen Executive Director (until 9/23) | OfficerTrustee | 40 | $53,794 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $75,380 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $300,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,299 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $380,679 |
| Total Program Service Revenue | $60,445 |
| Investment income | $337 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $73,810 |
| Net Income from Gaming Activities | $32,789 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $551,583 |
| 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. | $76,962 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $185,008 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $3,577 |
| Other employee benefits | $2,037 |
| Payroll taxes | $22,525 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,840 |
| Fees for services: Accounting | $6,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $72,720 |
| Office expenses | $28,772 |
| Information technology | $7,217 |
| Royalties | $0 |
| Occupancy | $9,971 |
| Travel | $743 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $32,344 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $30,140 |
| Insurance | $5,293 |
| All other expenses | $34,335 |
| Total functional expenses | $674,533 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,919 |
| Savings and temporary cash investments | $85,762 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,510 |
| 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 | $18,213 |
| Net Land, buildings, and equipment | $222,217 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $334,621 |
| Accounts payable and accrued expenses | $15,509 |
| 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 | $300 |
| Total liabilities | $15,809 |
| Net assets without donor restrictions | $318,812 |
| 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 | $334,621 |