Civic Intelligence

Geneva Chamber of Commerce

EIN 36-2043217 • 501(c)6 • Geneva, IL

Profile

To be the voice of its members and the business community on matters economic, social and cultural concerns, and to develop, maintain and monitor selective programs of action which identify issues, provide support in areas of economic development and foster community pride and recognition.

8 S 3rd StGeneva, IL 60134

genevachamber.com

Siviq Scores

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

Liabilities / Assets

92nd percentile

0.67x

Higher debt load relative to assets than 92% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

61st percentile

0.24x

Higher debt load relative to revenue than 61% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Source year 2024

Net Margin

5th percentile

-27%

Higher net margin than 5% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

37th percentile

$87,469

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 6.9% of source-year revenue.

501(c)6 • $1M-$5M nonprofits • Source year 2024

Asset Growth

2nd percentile

-54%

Faster asset growth than 2% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

5th percentile

-27%

Faster revenue growth than 5% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Down

$456,116

Down $533,279 (-54%) from 2023

Liabilities

Down

$307,194

Down $137,383 (-31%) from 2023

Net Assets

Down

$148,922

Down $395,896 (-73%) from 2023

Revenue

Down

$1,261,990

Down $463,868 (-27%) from 2023

Expenses

Up

$1,602,761

Up $25,040 (+1.6%) from 2023

Net Income

Down

-$340,771

Down $488,908 (-330%) from 2023

Trend Graphs

Balance Sheet Trend

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

$1.0M$500K$0Assets 2013: $628,703Liabilities 2013: $238,422Net Assets 2013: $390,2812013Assets 2014: $523,857Liabilities 2014: $206,854Net Assets 2014: $317,0032014Assets 2015: $627,804Liabilities 2015: $212,943Net Assets 2015: $414,8612015Assets 2016: $704,841Liabilities 2016: $221,221Net Assets 2016: $483,6202016Assets 2017: $779,037Liabilities 2017: $229,927Net Assets 2017: $549,1102017Assets 2018: $904,109Liabilities 2018: $245,852Net Assets 2018: $658,2572018Assets 2019: $743,270Liabilities 2019: $260,063Net Assets 2019: $483,2072019Assets 2020: $953,015Liabilities 2020: $438,255Net Assets 2020: $514,7602020Assets 2021: $935,357Liabilities 2021: $468,312Net Assets 2021: $467,0452021Assets 2022: $870,709Liabilities 2022: $474,028Net Assets 2022: $396,6812022Assets 2023: $989,395Liabilities 2023: $444,577Net Assets 2023: $544,8182023Assets 2024: $456,116Liabilities 2024: $307,194Net Assets 2024: $148,9222024

Highlighted filing

2024

Assets$456,116
Liabilities$307,194
Net Assets$148,922

Operations Trend

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

$2.0M$1.0M$0-$1.0MRevenue 2013: $1,349,194Expenses 2013: $1,227,673Net Income 2013: $121,5212013Revenue 2014: $1,281,373Expenses 2014: $1,354,651Net Income 2014: -$73,2782014Revenue 2015: $1,349,076Expenses 2015: $1,273,392Net Income 2015: $75,6842015Revenue 2016: $1,285,193Expenses 2016: $1,216,658Net Income 2016: $68,5352016Revenue 2017: $1,371,244Expenses 2017: $1,306,295Net Income 2017: $64,9492017Revenue 2018: $1,335,084Expenses 2018: $1,226,170Net Income 2018: $108,9142018Revenue 2019: $1,285,598Expenses 2019: $1,460,648Net Income 2019: -$175,0502019Revenue 2020: $720,878Expenses 2020: $689,325Net Income 2020: $31,5532020Revenue 2021: $1,025,373Expenses 2021: $1,073,088Net Income 2021: -$47,7152021Revenue 2022: $1,337,162Expenses 2022: $1,330,564Net Income 2022: $6,5982022Revenue 2023: $1,725,858Expenses 2023: $1,577,721Net Income 2023: $148,1372023Revenue 2024: $1,261,990Expenses 2024: $1,602,761Net Income 2024: -$340,7712024

Highlighted filing

2024

Revenue$1,261,990
Expenses$1,602,761
Net Income-$340,771

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 17, 2025
Return Version
2024v5.2
Gross Receipts
$1,290,566
Mission and Program Overview

Mission

To be the voice of its members and the business community on matters economic, social and cultural concerns, and to develop, maintain and monitor selective programs of action which identify issues, provide support in areas of economic development and foster community pride and recognition.

To be the voice of its members and the business community by maintaining and monitoring selective programs of action which identify issues, provide support in areas of economic development, and foster community pride and recognition.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$280,727$311,972▲ $31,245
Accounts Receivable$158,784$0▼ $158,784
Savings and Temporary Cash Investments$135,719$116,349▼ $19,370
Land, Buildings, and Equipment, Net$33,438$27,795▼ $5,643
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$989,395$456,116▼ $533,279
Other Assets Total$380,727$0▼ $380,727
Liabilities
Other Liabilities$440,731$303,481▼ $137,250
Accounts Payable and Accrued Expenses$3,846$3,713▼ $133
Total Liabilities$444,577$307,194▼ $137,383
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$544,818$148,922▼ $395,896
Total Net Assets Fund Balance$544,818$148,922▼ $395,896
Total Liabilities and Net Assets / Fund Balance$989,395$456,116▼ $533,279

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$27,795$140,658$168,453
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Paula SchmidtpresidentFT$87,469$87,469

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$506,164
Program Service Revenue
$756,498
Investment Income
$649
Other Revenue
$-1,321
All Other Contributions
$213,437
Change in Net Assets
$-340,771
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,185,998
Salaries, Compensation, and Employee Benefits$416,763
Total Fundraising Expense$19,220
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$248,028$28,185$5,637$281,850
Advertising$263,899-$5,386$269,285
Current Officers, Directors, Trustees, and Key Employees$76,973$8,747$1,749$87,469
Fees for Services Accounting-$87,464-$87,464
Payroll Taxes$31,716$3,604$721$36,041
Occupancy$31,680$3,600$720$36,000
All Other Expenses$17,076$8,418$388$25,882
Office Expenses$22,589$2,567$513$25,669
Insurance$21,499$2,443$489$24,431
Fees for Services Other$14,700$10$2,960$17,670
Conferences and Meetings$12,915--$12,915
Other Employee Benefits$10,035$1,140$228$11,403
Other Expenses$10,933$9,211$249$9,211
Depreciation Depletion$7,943$903$180$9,026
Information Technology-$7,409-$7,409
Interest-$2,957-$2,957
Total Functional Expenses$1,388,372$195,169$19,220$1,602,761
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$28,576
Fundraising Gross Income$27,255
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Outing$30,053$15,665$14,250$1,415
Annual Dinner$18,340$11,590$14,326$-2,736
Total Events$48,393$27,255$28,576$-1,321
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
No
Subject to proxy tax
Yes
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Gift Certificate Liability$201,367
Eid Loan$102,114
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
No
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 B, Line 11B

Approved by full board of directors. Return is available for review by all members.

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

Conflict of interest policy is reviewed annually and signed by each director and officer.

Form 990, Part VI, Section B, Line 15B

President's salary is approved by the executive board and budget is approved by full board.

Form 990, Part VI, Section C, Line 19

All policies are available upon request in the office of the chamber of commerce during normal business hours.

Filing and Contact Details

Filer

Filer Name
Geneva Chamber of Commerce
EIN
36-2043217
Phone
6302326060
Address
8 S 3RD ST, GENEVA, IL 60134

Signing Officer

Name
Paula Schmidt
Title
President
Signed
2025-11-17
Discuss with paid preparer
Yes

Organization Details

Formed
1950
Legal Domicile
Il
Voting Board Members
14
Independent Board Members
14
Employees
8

Preparer

Firm
Wieland Wallace Inc
Address
232 S Batavia Avenue, Batavia, IL 60510
Preparer
Lindsay a Wallace
Phone
6304064490
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

The Organization is exempt from federal income tax under Section 501(c)(6) of the Internal Revenue Code; therefore, no provision for income taxes has been made in the financial statements. However, income from certain activities not directly related to the Organizations tax-exempt purpose would be subject to taxation as unrelated business income. The Organization does not have any uncertain tax positions that are material to the financial statements.

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IRS990/ProgSrvcAccomActy3Grp/Desc0CHRISTMAS WALK - ECONOMIC DEVELOPMENT THROUGH THE PROMOTION OF THE CENTRAL BUSINESS DISTRICT AT THE START OF THE CHRISTMAS SALES SEASON ATTRACTING LOCAL RESIDENTS AND TOURISTS TO WALK A RECOMMENDED ROUTE VISITING MEMBER RETAILERS AND LOCAL RESIDENCES DECORATED IN THE HOLIDAY SPIRIT. STREET DECORATIONS IN THE FORM OF LIGHTED CHRISTMAS TREES AND WREATHS ARE UNDERWRITTEN BY THE ORGANIZATION AND INSTALLED BY CITY WORKERS.
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IRS990/ProgSrvcAccomActyOtherGrp/Desc0VARIOUS OTHER PROGRAMS AND EVENTS INCLUDING A CAR SHOW AND A FINE ARTS SHOW.
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