Civic Intelligence

Lake Forestlake Bluff Chamber of Commerce

990 • Fiscal year 2017 • EIN 36-3321139

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 07, 2018

272 E DeerpathLake Forest, IL 60045

(847) 234-4282

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

93rd percentile

0.58x

Higher debt load relative to assets than 93% of similar nonprofits.

2017 filings • 501(c)6 • <$500k nonprofits • Source year 2017

Liabilities / Revenue

99th percentile

1.36x

Higher debt load relative to revenue than 99% of similar nonprofits.

2017 filings • 501(c)6 • <$500k nonprofits • Source year 2017

Net Margin

6th percentile

-44%

Higher net margin than 6% of similar nonprofits.

2017 filings • 501(c)6 • <$500k nonprofits • Source year 2017

Top Officer Pay

93rd percentile

$78,952

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 50.1% of source-year revenue.

2017 filings • 501(c)6 • <$500k nonprofits • Source year 2017

Asset Growth

50th percentile

2.6%

Faster asset growth than 50% of similar nonprofits.

2017 filings • 501(c)6 • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

7th percentile

-41%

Faster revenue growth than 7% of similar nonprofits.

2017 filings • 501(c)6 • <$500k nonprofits • Annualized from 2016 to 2017

Assets

Up

$371,728

Up $9,288 (+2.6%) from 2016

Net Assets

Down

$157,007

Down $61,535 (-28%) from 2016

Liabilities

Up

$214,721

Up $70,823 (+49%) from 2016

Revenue

Down

$157,711

Down $109,877 (-41%) from 2016

Expenses

Down

$226,621

Down $23,470 (-9.4%) from 2016

Net Income

Down

-$68,910

Down $86,407 (-494%) from 2016

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$400K$300K$200K$100K$0Assets 2013: $103,858Liabilities 2013: $25,215Net Assets 2013: $78,6432013Assets 2014: $262,348Liabilities 2014: $130,879Net Assets 2014: $131,4692014Assets 2015: $330,603Liabilities 2015: $129,558Net Assets 2015: $201,0452015Assets 2016: $362,440Liabilities 2016: $143,898Net Assets 2016: $218,5422016Assets 2017: $371,728Liabilities 2017: $214,721Net Assets 2017: $157,0072017Assets 2018: $341,990Liabilities 2018: $148,927Net Assets 2018: $193,0632018Assets 2019: $207,650Liabilities 2019: $16,984Net Assets 2019: $190,6662019Assets 2020: $187,241Liabilities 2020: $28,478Net Assets 2020: $158,7632020Assets 2021: $222,939Liabilities 2021: $62,619Net Assets 2021: $160,3202021Assets 2022: $265,604Liabilities 2022: $56,412Net Assets 2022: $209,1922022Assets 2023: $282,061Liabilities 2023: $59,421Net Assets 2023: $222,6402023Assets 2024: $295,169Liabilities 2024: $127,390Net Assets 2024: $167,7792024

Highlighted filing

2017

Assets$371,728
Liabilities$214,721
Net Assets$157,007

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300K$200K$100K$0-$100KRevenue 2013: $295,805Expenses 2013: $238,179Net Income 2013: $57,6262013Revenue 2014: $272,160Expenses 2014: $219,334Net Income 2014: $52,8262014Revenue 2015: $279,825Expenses 2015: $223,848Net Income 2015: $55,9772015Revenue 2016: $267,588Expenses 2016: $250,091Net Income 2016: $17,4972016Revenue 2017: $157,711Expenses 2017: $226,621Net Income 2017: -$68,9102017Revenue 2018: $275,843Expenses 2018: $239,787Net Income 2018: $36,0562018Revenue 2019: $223,305Expenses 2019: $225,702Net Income 2019: -$2,3972019Revenue 2020: $158,814Expenses 2020: $190,717Net Income 2020: -$31,9032020Revenue 2021: $205,972Expenses 2021: $204,415Net Income 2021: $1,5572021Revenue 2022: $217,931Expenses 2022: $212,756Net Income 2022: $5,1752022Revenue 2023: $246,792Expenses 2023: $233,259Net Income 2023: $13,5332023Revenue 2024: $277,119Expenses 2024: $261,405Net Income 2024: $15,7142024

Highlighted filing

2017

Revenue$157,711
Expenses$226,621
Net Income-$68,910
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 7, 2018
Return Version
2017v2.2
Gross Receipts
$163,558
Mission and Program Overview

Mission

To serve as the principal representative of business in its market area, contribute to its members' success and prosperity, and promote the economic and civic interests of the community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$124,463$200,009▲ $75,546
Cash and Non-Interest-Bearing Accounts$237,976$171,718▼ $66,258
Rtn Earn Endowment Incm Other Fnds$218,542$157,007▼ $61,535
Savings and Temporary Cash Investments-$0-
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-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$362,440$371,728▲ $9,288
Other Assets Total$1$1→ $0
Liabilities
Other Liabilities$143,898$214,721▲ $70,823
Total Liabilities$143,898$214,721▲ $70,823
Net Assets / Fund Balance
Total Net Assets Fund Balance$218,542$157,007▼ $61,535
Total Liabilities and Net Assets / Fund Balance$362,440$371,728▲ $9,288

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$1,584$1,584
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Joanna RolekExecutive DirectorFT$78,952$78,952

Board Members and Trustees

NameTitle
Deborah FischerPast Chairman
Steve MilotaPresident
Diana MelicharVice Chairman
Cara GarrisonDirector
Jennifer HoweDirector
Nathan HansenDirector
Barb SiegelOfficer
Bob KielyOfficer
Drew IrvinOfficer
Julie McLaughlinOfficer
Megan StocktonOfficer
Michael SimeckOfficer
Steve WhittingtonOfficer
Susie McMurrayOfficer
Phil GayterSecretary
Colette WoidatTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$10,015
Program Service Revenue
$122,926
Investment Income
$78
Other Revenue
$24,692
Change in Net Assets
$-68,910
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$140,002
Other Expenses$86,619
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$78,952
Other Salaries and Wages---$37,719
All Other Expenses---$17,536
Occupancy---$15,600
Other Employee Benefits---$13,604
Payroll Taxes---$9,727
Office Expenses---$8,834
Fees for Services Accounting---$8,133
Other Expenses---$5,338
Advertising---$2,868
Insurance---$1,759
Conferences and Meetings---$615
Total Functional Expenses$0$0$0$226,621
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$23,213
Fundraising Direct Expenses$5,847
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Holiday Party$20,215$20,215$3,742$16,473
Total Events$20,215$20,215$5,847$14,368
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
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
Next Year's Dues$200,009
Gift Checks$14,712
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
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, Line 11B: Form 990 Review Process

Each executive board member receives a copy of the 990 prior to issuance. Comments/questions of the board members are communicated to the outside accountant/other board members for resolution prior to the issuance of the 990.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

The governing board reviews the organization's financial statements on a monthly basis. All board members are required to update their conflict of interest statements on an annual basis.Governing board members who engage in activities with the organization are not allowed to vote on matters relating to their engagement.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

Annual review and compensation review done for the Executive Director.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Statement on website indicates that pertinent policies and financial documents of the organization are available upon request.

Filing and Contact Details

Filer

Filer Name
Lake Forest Lake Bluff
EIN
36-3321139
Phone
8472344282
Address
272 E Deerpath, Lake Forest, IL 60045

Signing Officer

Name
Colette Woidat
Title
Treasurer
Signed
2018-11-07
Discuss with paid preparer
Yes

Organization Details

Formed
1953
Legal Domicile
Il
Voting Board Members
15
Independent Board Members
15
Employees
2
Volunteers
20

Preparer

Firm
ARCC Consulting Corp
Address
2854 Glenarye Drive, Lindenhurst, IL 60046
Preparer
Trak Patel CPA
Phone
8472950671
Supplemental Narrative

Additional Explanations

Part XII Line 1

The Lake Forest/Lake Bluff Chamber of Commerce changed from Cash to Accrual tax reporting to improve the Board's understanding of financial statements.

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IRS990/MissionDesc0To serve as the principal representative of business in its market area, contribute to its members' success and prosperity, and promote the economic and civic interests of the community.
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IRS990/OccupancyGrp/TotalAmt015600
IRS990/OfficeExpensesGrp/TotalAmt08834
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
IRS990/OtherAssetsTotalGrp/BOYAmt01
IRS990/OtherAssetsTotalGrp/EOYAmt01
IRS990/OtherEmployeeBenefitsGrp/TotalAmt013604
IRS990/OtherExpensesGrp/Desc06255 Event Exp Mmbrshp Lunch
IRS990/OtherExpensesGrp/Desc16710 Web development
IRS990/OtherExpensesGrp/Desc26430 Event Buzz on the Bluff
IRS990/OtherExpensesGrp/Desc36195 Credit Card Fees
IRS990/OtherExpensesGrp/TotalAmt012744
IRS990/OtherExpensesGrp/TotalAmt16729
IRS990/OtherExpensesGrp/TotalAmt26463
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IRS990/ProgramServiceRevenueGrp/Desc2New Resident Welcome
IRS990/ProgramServiceRevenueGrp/Desc3Origination fees
IRS990/ProgramServiceRevenueGrp/Desc4Winter Breakfast
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IRS990/ProgSrvcAccomActy2Grp/Desc0Promoting and advertising local businesses and the business events within the community.
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IRS990/PYTotalRevenueAmt0267588
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Each executive board member receives a copy of the 990 prior to issuance. Comments/questions of the board members are communicated to the outside accountant/other board members for resolution prior to the issuance of the 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The governing board reviews the organization's financial statements on a monthly basis. All board members are required to update their conflict of interest statements on an annual basis.Governing board members who engage in activities with the organization are not allowed to vote on matters relating to their engagement.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Annual review and compensation review done for the Executive Director.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Statement on website indicates that pertinent policies and financial documents of the organization are available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The Lake Forest/Lake Bluff Chamber of Commerce changed from Cash to Accrual tax reporting to improve the Board's understanding of financial statements.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Part XII Line 1
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false

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