Yarmouth Chamber Of Commerce Inc
- Assets
- $187.1k
- Revenue
- $463.3k
- Investments
- $0.0
- Employees
- 6
- Location
- Yarmouth, ME
- Founding
- 09/1978
- Data as of
- 12/2022
- EIN
- 01-0356733
Organization Overview
Yarmouth Chamber Of Commerce Inc is located in Yarmouth, ME. The organization was established in 1978. 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 12/2022, Yarmouth Chamber Of Commerce Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Yarmouth Chamber Of Commerce Inc 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 12/2022, Yarmouth Chamber Of Commerce Inc generated $463.3k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $435.5k during the year ending 12/2022. 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
THE YARMOUTH CHAMBER OF COMMERCE PROVIDES SUPPORT TO LOCAL BUSINESSES AND COMMUNITY INCLUDING MULTIPLE PROGRAMS, ACTIVITIES, AND SCHOLARSHIPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE YARMOUTH CLAM FESTIVAL HOSTED BY THE YARMOUTH CHAMBER OF COMMERCE IS HELD ANNUALLY ON THE THIRD WEEKEND IN JULY AND INCLUDES A PARADE, ENTERTAINMENT, ART SHOW, CRAFT SHOW, FOOD CIRCLE, CARNIVAL AND OTHER ACTIVITIES. THE YARMOUTH CLAM FESTIVAL PROVIDES AN ECONOMIC STIMILUS FOR AREA BUSINESSES AND LOCAL NON-PROFIT ORGANIZATIONS. THE CLAM FESTIVAL WAS NOT HELD IN 2021 DUE TO COVID-19 RESTRICTIONS ON GATHERINGS.
YARMOUTH CHAMBER OF COMMERCE PROGRAMS THAT SUPPORT LOCAL BUSINESSES AND THE COMMUNITY INCLUDE BUSINESS AFTER HOURS, BREAKFAST AND LUNCH EVENTS, A GOLF TOURNAMENT AND A HOLIDAY PARTY. A PORTION OF FUNDS RECEIVED SUPPORT LOCAL SCHOLARSHIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shawna C Chigro Rogers Executive Di | Officer | 40 | $40,105 |
Adrienne Nardi Executive Di | Officer | 40 | $21,033 |
Timothy A Gatz Executive Di | Officer | 40 | $15,531 |
Bob Berwick Director | Trustee | 0.5 | $0 |
Shauna Damboise Director | Trustee | 0.5 | $0 |
Heidi Hall Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $13,725 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $130,200 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $143,925 |
| Total Program Service Revenue | $302,086 |
| Investment income | $259 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $5,985 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $10,692 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $463,297 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $500 |
| Grants and other assistance to domestic individuals. | $3,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $77,340 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $34,547 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $410 |
| Payroll taxes | $9,279 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,276 |
| Fees for services: Accounting | $5,259 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,945 |
| Fees for services: Other | $116,313 |
| Advertising and promotion | $3,352 |
| Office expenses | $37,011 |
| Information technology | $1,946 |
| Royalties | $0 |
| Occupancy | $21,619 |
| Travel | $292 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $473 |
| Insurance | $20,139 |
| All other expenses | $596 |
| Total functional expenses | $435,516 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,649 |
| Savings and temporary cash investments | $20,100 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,915 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $23,647 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $197 |
| Investments—publicly traded securities | $127,951 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,600 |
| Total assets | $187,059 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $6,550 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,159 |
| Total liabilities | $8,709 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $178,350 |
| Total liabilities and net assets/fund balances | $187,059 |