Civic Intelligence

Greater Bloomington Chamber of Commerce Inc

EIN 35-0183215 • 501(c)6 • Bloomington, IN

Profile

The greater bloomington chamber of commerce provides leadership through member engagement, business advocacy and civic partnerships to strengthen our community and business environment.

421 W 6th StreetBloomington, IN 47404

www.chamberbloomington.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

97th percentile

1.07x

Higher debt load relative to assets than 97% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

95th percentile

0.78x

Higher debt load relative to revenue than 95% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Source year 2024

Net Margin

33rd percentile

-1.6%

Higher net margin than 33% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

76th percentile

$115,345

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 13.7% of source-year revenue.

501(c)6 • $500k-$1M nonprofits • Source year 2024

Asset Growth

42nd percentile

1.1%

Faster asset growth than 42% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

20th percentile

-7.6%

Faster revenue growth than 20% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Assets

Up

$621,910

Up $6,723 (+1.1%) from 2023

Liabilities

Down

$662,459

Down $3,897 (-0.6%) from 2023

Net Assets

Up

-$40,549

Up $10,620 (+21%) from 2023

Revenue

Down

$844,102

Down $69,052 (-7.6%) from 2023

Expenses

Up

$857,393

Up $25,830 (+3.1%) from 2023

Net Income

Down

-$13,291

Down $94,882 (-116%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.0M$500K$0-$500KAssets 2015: $355,578Liabilities 2015: $252,057Net Assets 2015: $103,5212015Assets 2016: $368,272Liabilities 2016: $241,226Net Assets 2016: $127,0462016Assets 2017: $402,046Liabilities 2017: $287,561Net Assets 2017: $114,4852017Assets 2018: $378,316Liabilities 2018: $289,748Net Assets 2018: $88,5682018Assets 2019: $338,847Liabilities 2019: $264,804Net Assets 2019: $74,0432019Assets 2020: $464,989Liabilities 2020: $503,275Net Assets 2020: -$38,2862020Assets 2021: $531,193Liabilities 2021: $548,297Net Assets 2021: -$17,1042021Assets 2022: $405,119Liabilities 2022: $542,023Net Assets 2022: -$136,9042022Assets 2023: $615,187Liabilities 2023: $666,356Net Assets 2023: -$51,1692023Assets 2024: $621,910Liabilities 2024: $662,459Net Assets 2024: -$40,5492024

Highlighted filing

2024

Assets$621,910
Liabilities$662,459
Net Assets-$40,549

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.0M$500K$0-$500KRevenue 2015: $884,803Expenses 2015: $849,355Net Income 2015: $35,4482015Revenue 2016: $825,718Expenses 2016: $804,939Net Income 2016: $20,7792016Revenue 2017: $763,114Expenses 2017: $759,620Net Income 2017: $3,4942017Revenue 2018: $614,210Expenses 2018: $647,129Net Income 2018: -$32,9192018Revenue 2019: $773,996Expenses 2019: $781,422Net Income 2019: -$7,4262019Revenue 2020: $675,851Expenses 2020: $799,636Net Income 2020: -$123,7852020Revenue 2021: $719,703Expenses 2021: $725,418Net Income 2021: -$5,7152021Revenue 2022: $673,372Expenses 2022: $773,160Net Income 2022: -$99,7882022Revenue 2023: $913,154Expenses 2023: $831,563Net Income 2023: $81,5912023Revenue 2024: $844,102Expenses 2024: $857,393Net Income 2024: -$13,2912024

Highlighted filing

2024

Revenue$844,102
Expenses$857,393
Net Income-$13,291

Filings

Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2021 below.

Jump To
Filing Snapshot
Filing Period
Sep 1, 2020 to Aug 31, 2021
Signed
Jan 11, 2022
Return Version
2020v4.1
Gross Receipts
$719,703
Mission and Program Overview

Mission

The greater bloomington chamber of commerce provides leadership through member engagement, business advocacy and civic partnerships to strengthen our community and business environment.

Advance the community general welfare and prosperity.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$223,816$295,420▲ $71,604
Investments in Publicly Traded Securities$135,640$164,718▲ $29,078
Land, Buildings, and Equipment, Net$32,388$33,653▲ $1,265
Savings and Temporary Cash Investments$22,803$22,662▼ $141
Accounts Receivable$45,572$9,992▼ $35,580
Prepaid Expenses and Deferred Charges$4,770$4,748▼ $22
Total Assets$464,989$531,193▲ $66,204
Liabilities
Deferred Revenue$316,452$356,314▲ $39,862
Other Liabilities$149,900$149,900→ $0
Accounts Payable and Accrued Expenses$36,923$42,083▲ $5,160
Total Liabilities$503,275$548,297▲ $45,022
Net Assets / Fund Balance
Net Assets With Donor Restrictions$32,791$21,878▼ $10,913
Net Assets Without Donor Restrictions$-71,077$-38,982▲ $32,095
Total Net Assets Fund Balance$-38,286$-17,104▲ $21,182
Total Liabilities and Net Assets / Fund Balance$464,989$531,193▲ $66,204

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$17,569$88,464$106,033
Other Land Buildings$16,084$16,958$33,042
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Erin PredmorePresident & CEOFT$101,007$3,030$104,037

Board Members and Trustees

NameTitle
Cindy KinnarneyBoard Chair
Mike RichardsonPast Board Chair
Ron WalkerPast Board Chair
Amy Somers KoppFirst Vice Chair
Don WeilerSecond Vice Chair
Brian ShockneyDirector
Bruce CallowayDirector
Dan PetersonDirector
David FergusonDirector
Donna WalkerDirector
Jennie VaughanDirector
Kirk WhiteDirector
Lisa AbbottDirector
Pat EastDirector
Tony StongerDirector
Scott ShishmanSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$107,965
Program Service Revenue
$595,791
Investment Income
$2,192
Other Revenue
$13,755
All Other Contributions
$6,151
Change in Net Assets
$-5,715

Audited Revenue Reconciliation

Revenue per Audited Statements
$718,349
Revenue Not Reported on Financial Statements
$1,354
Revenue Not Reported on Form 990
$47,997
Other Revenue Adjustments
$1,354
Total Revenue per Audited Statements
$766,346
Total Revenue per Form 990
$719,703
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$499,229
Other Expenses$226,189
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$306,329
Current Officers, Directors, Trustees, and Key Employees---$106,793
Fees for Services Accounting---$48,535
Other Employee Benefits---$48,152
Occupancy---$37,427
Payroll Taxes---$33,442
Office Expenses---$32,531
Information Technology---$20,450
Depreciation Depletion---$10,078
Fees for Services Other---$8,350
Advertising---$5,221
Insurance---$4,934
Interest---$4,681
Pension Plan Contributions---$4,513
Conferences and Meetings---$2,962
Travel---$1,526
Fees for Service Investment Mgmnt Fees---$1,354
Other Expenses---$350
Total Functional Expenses$0$0$0$725,418

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$745,164
Expenses per Audited Statements$725,418
Total Expenses per Form 990$725,418
Expenses Not Reported on Form 990$19,746
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
Yes
Subject to proxy tax
Yes

Reported Spending and Taxes

Line ItemAmount
Total Nondeductible Lobbying and Political Cost$-14,483
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Sba Loan$149,900
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

Membership eligibility is open to any person, association, corporation, partnership, or entity having an interest in the objectives of the chamber to advance the general welfare and prosperity of greater bloomington and the area within, and surrounding, monroe county.

Form 990, Part VI, Section A, Line 7A

At the regular march board meeting, the chair shall appoint a nominating committee of four members of the chamber and the immediate past chair. The immediate past chair shall be chair of the nominating committee. Prior to may 1 of each year, the nominating committee shall present to the chair a slate of candidates to replace the directors whose regular terms are expiring. Each candidate must be an active member in good standing and must have agreed to accept the responsibility of a directorship. Upon receipt of the nominating committee report, the executive director shall notify the members by an accepted form of publication (as identified in the by-laws). The publication must be sent to all members and contain the names of persons nominated as candidates for directors, as well as the right of petition. While the members do not vote directly, additional names of candidates can be nominated by petition bearing the signatures of at least five qualified members in good standing of the chamber. The petition must be filed with the nominating committee within ten days after notice has been given of the names of those nominated. If a petition presents additional candidates, the board of directors shall vote on the candidates at its regular august board meeting. The candidates with the greatest number of votes shall be declared elected.

Form 990, Part VI, Section B, Line 11B

Copies of the form 990 are presented to the financial committee, executive committee, and board for approval.

Form 990, Part VI, Section B, Line 12C

Directors, officers, and key employees are asked to update their conflict of interest annually.

Form 990, Part VI, Section B, Line 15

Directors are volunteers and not compensated. Review of the staff is conducted by internal supervisors and the executive director as defined by the bylaws. Review of the executive director is conducted by the board chair and executive committee, then compensation is reviewed by the entire board.

Form 990, Part VI, Section C, Line 19

The chamber makes its governing documents, conflict of interest policy, and financial statements available upon request.

Filing and Contact Details

Filer

Filer Name
Greater Bloomington Chamber of Commerce
EIN
35-0183215
Phone
8123366381
Address
421 W 6TH STREET, BLOOMINGTON, IN 47404

Signing Officer

Name
Eric Spoonmore
Title
President/CEO
Phone
8123366381
Signed
2022-01-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Eric Spoonmore
Formed
1939
Legal Domicile
In
Voting Board Members
16
Independent Board Members
16
Employees
11
Volunteers
85

Preparer

Firm
Sponsel CPA Group LLC
Address
251 N ILLINOIS ST STE 450, INDIANAPOLIS, IN 46204
Preparer
Elizabeth M Belcher CPA
Phone
3176086699
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The chamber's executive committee is responsible for overseeing the annual audit of its financial statements. The executive committee and the office manager are responsible for selecting the independent auditor and overseeing the audit. There have been no changes to this process from the prior year.

Financial Statement Notes

PART X, LINE 2:

Accounting principles generally accepted in the united states of america require management to evaluate tax positions taken by the chamber and recognize a tax liability if the chamber has taken an uncertain position that more likely than not would not be sustained upon examination by various federal and state taxing authorities. Management has analyzed the tax positions taken by the chamber, and has concluded that as of august 31, 2021 and 2020, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the accompanying financial statements. The chamber is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. No interest or penalties were incurred during the years ended august 31, 2021 and 2020.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Investment expenses 1,354.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Investment expenses -1,354.

Raw XML AppendixShowing 400 of 509 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16PRESIDENT & CEO
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/Form990TFiledInd01
IRS990/FormationYr01939
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt016
IRS990/GovernmentGrantsAmt0101814
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt0719703
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt016
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InformationTechnologyGrp/TotalAmt020450
IRS990/InsuranceGrp/TotalAmt04934
IRS990/InterestGrp/TotalAmt04681
IRS990/InvestmentIncomeGrp/ExclusionAmt02192
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt02192
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsPubTradedSecGrp/BOYAmt0135640
IRS990/InvestmentsPubTradedSecGrp/EOYAmt0164718
IRS990/IRPDocumentCnt02
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0105422
IRS990/LandBldgEquipBasisNetGrp/BOYAmt032388
IRS990/LandBldgEquipBasisNetGrp/EOYAmt033653
IRS990/LandBldgEquipCostOrOtherBssAmt0139075
IRS990/LegalDomicileStateCd0IN
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE GREATER BLOOMINGTON CHAMBER OF COMMERCE PROVIDES LEADERSHIP THROUGH MEMBER ENGAGEMENT, BUSINESS ADVOCACY AND CIVIC PARTNERSHIPS TO STRENGTHEN OUR COMMUNITY AND BUSINESS ENVIRONMENT.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0-38286
IRS990/NetAssetsOrFundBalancesEOYAmt0-17104
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt026897
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0-71077
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0-38982
IRS990/NoncashContributionsAmt06151
IRS990/NondeductibleContributionsInd01
IRS990/NondeductibleContriDisclInd01
IRS990/OccupancyGrp/TotalAmt037427
IRS990/OfficeExpensesGrp/TotalAmt032531
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt048152
IRS990/OtherExpensesGrp/Desc0ACTIVITIES EXPENSES
IRS990/OtherExpensesGrp/Desc1DUES & SUBSCRIPTIONS
IRS990/OtherExpensesGrp/Desc2STAFF EXPENSES
IRS990/OtherExpensesGrp/Desc3CONTRACT LABOR
IRS990/OtherExpensesGrp/TotalAmt030692
IRS990/OtherExpensesGrp/TotalAmt110631
IRS990/OtherExpensesGrp/TotalAmt26467
IRS990/OtherExpensesGrp/TotalAmt3350
IRS990/OtherLiabilitiesGrp/BOYAmt0149900
IRS990/OtherLiabilitiesGrp/EOYAmt0149900
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS INCOME
IRS990/OtherRevenueMiscGrp/ExclusionAmt013755
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt013755
IRS990/OtherRevenueTotalAmt013755
IRS990/OtherSalariesAndWagesGrp/TotalAmt0306329
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/TotalAmt033442
IRS990/PensionPlanContributionsGrp/TotalAmt04513
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt04770
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt04748
IRS990/PrincipalOfficerNm0ERIC SPOONMORE
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0561000
IRS990/ProgramServiceRevenueGrp/BusinessCd1561000
IRS990/ProgramServiceRevenueGrp/BusinessCd2611710
IRS990/ProgramServiceRevenueGrp/BusinessCd3561499
IRS990/ProgramServiceRevenueGrp/BusinessCd4611710
IRS990/ProgramServiceRevenueGrp/Desc0MEMBERSHIP DUES & ASSE
IRS990/ProgramServiceRevenueGrp/Desc1MEMBER DEVELOPMENT & M
IRS990/ProgramServiceRevenueGrp/Desc2FRANKLIN INITIATIVE
IRS990/ProgramServiceRevenueGrp/Desc3PUBLIC POLICY EVENTS
IRS990/ProgramServiceRevenueGrp/Desc4WOMEN EXCEL BLOOMINGTO
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0340242
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1111227
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt278278
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt333180
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt417689
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0340242
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1111227
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt278278
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt333180
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt417689
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt072604
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt04155
IRS990/PYOtherExpensesAmt0335038
IRS990/PYOtherRevenueAmt019237
IRS990/PYProgramServiceRevenueAmt0579855
IRS990/PYRevenuesLessExpensesAmt0-123785
IRS990/PYSalariesCompEmpBnftPaidAmt0464598
IRS990/PYTotalExpensesAmt0799636
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0675851
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-5715
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt022803
IRS990/SavingsAndTempCashInvstGrp/EOYAmt022662
IRS990/ScheduleBRequiredInd00
IRS990ScheduleC/AgreeCarryoverPriorYearInd01
IRS990ScheduleC/DuesAssessmentsAmt0340242
IRS990ScheduleC/NonDedLbbyngPltclCyovAmt0-14483
IRS990ScheduleC/NonDeductibleLbbyngPltclTotAmt0-14483
IRS990ScheduleC/OnlyInHouseLobbyingInd01
IRS990ScheduleC/SubstantiallyAllDuesNondedInd00
IRS990ScheduleC/TaxableAmt0-14483
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt021100
IRS990ScheduleD/DonatedServicesUseFcltsAmt021100
IRS990ScheduleD/EquipmentGrp/BookValueAmt017569
IRS990ScheduleD/EquipmentGrp/DepreciationAmt088464
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0106033
IRS990ScheduleD/ExpensesNotReportedAmt019746
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0725418
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/NetUnrealizedGainsInvstAmt026897
IRS990ScheduleD/OtherExpensesIncludedAmt0-1354
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt016084
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt016958
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt033042
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0149900
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SBA LOAN
IRS990ScheduleD/OtherRevenuesNotIncludedAmt01354
IRS990ScheduleD/RevenueNotReportedAmt047997
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt01354
IRS990ScheduleD/RevenueSubtotalAmt0718349
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE CHAMBER AND RECOGNIZE A TAX LIABILITY IF THE CHAMBER HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY VARIOUS FEDERAL AND STATE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE CHAMBER, AND HAS CONCLUDED THAT AS OF AUGUST 31, 2021 AND 2020, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE CHAMBER IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. NO INTEREST OR PENALTIES WERE INCURRED DURING THE YEARS ENDED AUGUST 31, 2021 AND 2020.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1INVESTMENT EXPENSES 1,354.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2INVESTMENT EXPENSES -1,354.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt033653
IRS990ScheduleD/TotalExpensesPerForm990Amt0725418
IRS990ScheduleD/TotalLiabilityAmt0149900
IRS990ScheduleD/TotalRevenuePerForm990Amt0719703
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0766346
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0745164
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MEMBERSHIP ELIGIBILITY IS OPEN TO ANY PERSON, ASSOCIATION, CORPORATION, PARTNERSHIP, OR ENTITY HAVING AN INTEREST IN THE OBJECTIVES OF THE CHAMBER TO ADVANCE THE GENERAL WELFARE AND PROSPERITY OF GREATER BLOOMINGTON AND THE AREA WITHIN, AND SURROUNDING, MONROE COUNTY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AT THE REGULAR MARCH BOARD MEETING, THE CHAIR SHALL APPOINT A NOMINATING COMMITTEE OF FOUR MEMBERS OF THE CHAMBER AND THE IMMEDIATE PAST CHAIR. THE IMMEDIATE PAST CHAIR SHALL BE CHAIR OF THE NOMINATING COMMITTEE. PRIOR TO MAY 1 OF EACH YEAR, THE NOMINATING COMMITTEE SHALL PRESENT TO THE CHAIR A SLATE OF CANDIDATES TO REPLACE THE DIRECTORS WHOSE REGULAR TERMS ARE EXPIRING. EACH CANDIDATE MUST BE AN ACTIVE MEMBER IN GOOD STANDING AND MUST HAVE AGREED TO ACCEPT THE RESPONSIBILITY OF A DIRECTORSHIP. UPON RECEIPT OF THE NOMINATING COMMITTEE REPORT, THE EXECUTIVE DIRECTOR SHALL NOTIFY THE MEMBERS BY AN ACCEPTED FORM OF PUBLICATION (AS IDENTIFIED IN THE BY-LAWS). THE PUBLICATION MUST BE SENT TO ALL MEMBERS AND CONTAIN THE NAMES OF PERSONS NOMINATED AS CANDIDATES FOR DIRECTORS, AS WELL AS THE RIGHT OF PETITION. WHILE THE MEMBERS DO NOT VOTE DIRECTLY, ADDITIONAL NAMES OF CANDIDATES CAN BE NOMINATED BY PETITION BEARING THE SIGNATURES OF AT LEAST FIVE QUALIFIED MEMBERS IN GOOD STANDING OF THE CHAMBER. THE PETITION MUST BE FILED WITH THE NOMINATING COMMITTEE WITHIN TEN DAYS AFTER NOTICE HAS BEEN GIVEN OF THE NAMES OF THOSE NOMINATED. IF A PETITION PRESENTS ADDITIONAL CANDIDATES, THE BOARD OF DIRECTORS SHALL VOTE ON THE CANDIDATES AT ITS REGULAR AUGUST BOARD MEETING. THE CANDIDATES WITH THE GREATEST NUMBER OF VOTES SHALL BE DECLARED ELECTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COPIES OF THE FORM 990 ARE PRESENTED TO THE FINANCIAL COMMITTEE, EXECUTIVE COMMITTEE, AND BOARD FOR APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DIRECTORS, OFFICERS, AND KEY EMPLOYEES ARE ASKED TO UPDATE THEIR CONFLICT OF INTEREST ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DIRECTORS ARE VOLUNTEERS AND NOT COMPENSATED. REVIEW OF THE STAFF IS CONDUCTED BY INTERNAL SUPERVISORS AND THE EXECUTIVE DIRECTOR AS DEFINED BY THE BYLAWS. REVIEW OF THE EXECUTIVE DIRECTOR IS CONDUCTED BY THE BOARD CHAIR AND EXECUTIVE COMMITTEE, THEN COMPENSATION IS REVIEWED BY THE ENTIRE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE CHAMBER MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE CHAMBER'S EXECUTIVE COMMITTEE IS RESPONSIBLE FOR OVERSEEING THE ANNUAL AUDIT OF ITS FINANCIAL STATEMENTS. THE EXECUTIVE COMMITTEE AND THE OFFICE MANAGER ARE RESPONSIBLE FOR SELECTING THE INDEPENDENT AUDITOR AND OVERSEEING THE AUDIT. THERE HAVE BEEN NO CHANGES TO THIS PROCESS FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd01

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