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Nonprofiteer
← INDIAN LAKE CHAMBER OF COMMERCE INC

Form 990 for tax year 2023

Filed by INDIAN LAKE CHAMBER OF COMMERCE INC.

Totals

Total revenue
$124,887
Total expenses
$128,282
Contributions and grants received
$62,376
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$62,511
Total assets, end of year
$61,820
Total liabilities, end of year
$8,532
Net assets or fund balances, end of year
$53,288
Program services expenses (Part IX)
$0
Management and general expenses
$128,282
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1b · Membership dues

    $62,376

  • 10a · Gross sales of inventory

    $66,173

  • 10b · Cost of goods sold

    $3,662

  • 10c · Net income from sales of inventory

    total $62,511 · related or exempt $62,511

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $70,866 · management and general $70,866

  • 7 · Other salaries and wages

    total $30,540 · management and general $30,540

  • 9 · Other employee benefits

    total $1,819 · management and general $1,819

  • 10 · Payroll taxes

    total $8,641 · management and general $8,641

  • 11b · Fees: legal

    total $143 · management and general $143

  • 11c · Fees: accounting

    total $1,587 · management and general $1,587

  • 16 · Occupancy

    total $9,000 · management and general $9,000

  • 19 · Conferences, conventions and meetings

    total $80 · management and general $80

  • 23 · Insurance

    total $2,596 · management and general $2,596

  • 24a · Other expenses: BANK CHARGES

    total $373 · management and general $373

  • 24b · Other expenses: STAFFING COSTS

    total $600 · management and general $600

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $169 · management and general $169

  • 24d · Other expenses: EQUIPMENT RENTAL

    total $1,868 · management and general $1,868

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $38,705 · end of year $29,416

  • 2 · Savings and temporary cash investments

    beginning of year $85

  • 4 · Accounts receivable

    beginning of year -$3,166 · end of year -$3,165

  • 9 · Prepaid expenses and deferred charges

    beginning of year -$70 · end of year -$70

  • 10a · Land, buildings and equipment: cost or other basis

    $4,521

  • 10b · Land, buildings and equipment: accumulated depreciation

    $3,889

  • 10c · Land, buildings and equipment, net

    beginning of year $632 · end of year $632

  • 11 · Investments: publicly traded securities

    beginning of year $35,007 · end of year $35,007

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,201

  • 25 · Other liabilities

    beginning of year $2,112 · end of year $8,532

  • 31 · Retained earnings, endowment or other funds

    beginning of year $58,880 · end of year $53,288

Mission and programs · 2023

Mission

PROMOTING AREA BUSINESSES

  • PROMOTION OF OVER 240 RETAIL AND MANUFACTURING BUSINESSES BY SPONSERING FUND RAISING EVENTS THAT ATTRACT SEVERAL THOUSAND PEOPLE TO THE AREA, WHO IN TURN PATRONIZE THE LOCAL BUSINESSES

As filed on the 2023 return.

Listed in Part VII

  • Kraig Buffenbarger

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Rick Core

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Brendon Cunningham

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Kola Grandi

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Amber Fagan

    PRESIDENT

    Total calculated
    $0
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202413189349304156

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