Maine State Chamber Of Commerce
- Assets
- $923.7k
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 13
- Location
- Augusta, ME
- Founding
- 10/1921
- Data as of
- 06/2022
- EIN
- 01-0021545
Organization Overview
Maine State Chamber Of Commerce is located in Augusta, ME. The organization was established in 1921. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Maine State Chamber Of Commerce employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maine State Chamber Of Commerce is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 06/2022, Maine State Chamber Of Commerce generated $2.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $2.2m during the year ending 06/2022. While expenses have increased by 5.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT AND STRENGTHEN MAINE BUSINESS
Describe the Organization's Program Activity:
Part 3 - Line 4a
ENHANCE THE BUSINESS CLIMATE, THE QUALITY OF LIFE, AND ECONOMIC WELLBEING OF THE BUSINESSES AND PEOPLE OF MAINE
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dana Connors Chamber President | Officer | 40 | $197,921 |
Peter Gore VP Of Gov't Relations | 40 | $123,338 | |
Benjamin Gilman General Counsel | 40 | $100,965 | |
Clifton Greim Board Chair | OfficerTrustee | 2 | $0 |
Luann Ballesteros First Vice Chair | OfficerTrustee | 2 | $0 |
Bob Montgomery-Rice 2nd Vice Chair/treasurer | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Petruccelli Martin & Haddow Llp Law Firm | 6/29/22 | $119,475 |
Benjamin Dudley Iii Litigation Services | 6/29/22 | $120,000 |
Plus Communications Llc Communication Firm | 6/29/22 | $187,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $954,277 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $372,532 |
| All other contributions, gifts, grants, and similar amounts not included above | $16,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,342,809 |
| Total Program Service Revenue | $678,777 |
| Investment income | $284 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $43,256 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,213,591 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $229,429 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $732,168 |
| Pension plan accruals and contributions | $42,702 |
| Other employee benefits | $83,056 |
| Payroll taxes | $71,206 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $156,136 |
| Advertising and promotion | $885 |
| Office expenses | $69,431 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $69,177 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,553 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,375 |
| Insurance | $29,716 |
| All other expenses | $64,321 |
| Total functional expenses | $2,238,096 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $206,396 |
| Savings and temporary cash investments | $406,853 |
| Pledges and grants receivable | $14,332 |
| Accounts receivable, net | $234,627 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $16,602 |
| Net Land, buildings, and equipment | $27,095 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,828 |
| Total assets | $923,733 |
| Accounts payable and accrued expenses | $204,481 |
| Grants payable | $0 |
| Deferred revenue | $584,045 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $15,556 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $804,082 |
| Net assets without donor restrictions | $119,251 |
| Net assets with donor restrictions | $400 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $923,733 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Maine State Chamber Of Commerce has recieved totaling $5,150.
| Awarding Organization | Amount |
|---|---|
Martins Point Health Care Inc Portland, ME PURPOSE: Annual dues and membership; contributions to community events and municipal development | $5,150 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Global Seafood Alliance Inc Portsmouth, NH | $16,114,958 | $17,110,603 |
Maine State Chamber Of Commerce Augusta, ME | $923,733 | $2,213,591 |
Dartmouth Regional Technology Center Inc Lebanon, NH | $5,511,627 | $2,160,751 |
New England Apple Council Inc Goffstown, NH | $795,628 | $1,773,754 |
Maine Oil Dealers Association Brunswick, ME | $1,645,866 | $1,757,717 |
University Of Maine Pulp And Paper Foundation Orono, ME | $31,514,138 | $1,541,694 |
Pope Memorial Spca Of Concord Merrimack County Concord, NH | $5,304,139 | $1,435,100 |
New Hampshire Bankers Association Concord, NH | $1,878,135 | $1,082,708 |
Associated Builders And Contractors Inc Concord, NH | $1,404,762 | $1,170,910 |
Maine Automobile Dealers Association Inc Augusta, ME | $2,325,139 | $1,081,224 |
Greater Manchester Chamber Of Commerce Manchester, NH | $764,279 | $1,070,211 |
Hampton Beach Area Chamber Of Commerce Hampton, NH | $686,290 | $1,006,773 |