Thursday, February 23, 2012

Nonprofits Get Hotel Tax Revenue

Nonprofits in Crystal Lake, Ill. are going to be seeing an influx of revenue thanks to some local hotels and motels.

The TribLocal reported today that local nonprofits were awarded a portion of hotel and motel tax funds that are collected by the city each year.  The City Council distributed the money Feb. 21 among the 10 groups that submitted proposals.  Each of the organizations received a portion of the funds requested, with the total money doled out adding up to $292,167.

The revenue that the city collects from hotels comes from a 5-percent tax on overnight stays at hotels and motels.  The funds are invested in the community towards programs and events that promote overnight stays in the city.  Here is a breakdown of the money received by the nonprofits:

  • The Raue Center for the Arts got the largest amount of money at $150,000.  The group has received over $422,000 the last three years.
  • The Lakeside Legacy Foundation got more than $35,000 after receiving $20,000 the previous year.
  • The Historic Downtown District of Crystal Lake also received $35,000, the same amount they got last year.
  • The McHenry County Youth Sports Association was awarded $52,000.  Last year they had requested $80,000, but they lowered their initial request to $60,000 this year.
You can read a full report of the funds distributed in The TribLocal.

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