North Shore Chamber Of Commerce Inc
- Assets
- $435.4k
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 6
- Location
- Beverly, MA
- Founding
- 05/1918
- Data as of
- 09/2023
- EIN
- 04-1087160
Organization Overview
North Shore Chamber Of Commerce Inc is located in Beverly, MA. The organization was established in 1918. 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 09/2023, North Shore 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. North Shore 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 09/2023, North Shore Chamber Of Commerce Inc generated $1.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.9% each year. All expenses for the organization totaled $1.2m during the year ending 09/2023. While expenses have increased by 8.9% per year over the past 6 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE NORTH SHORE CHAMBER OF COMMERCE WORKS TO PROMOTE BUSINESS AND IMPROVE THE ECONOMIC ENVIRONMENT OF THE REGION NORTH OF BOSTON.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE NORTH SHORE CHAMBER OF COMMERCE WORKS TO IMPROVE THE BUSINESS ENVIRONMENT NORTH OF BOSTON THROUGH PROGRAMS INCLUDING, BUT NOT LIMITED TO, MONTHLY BUSINESS INSIGHT BREAKFAST FORUMS, AFTER HOURS NETWORKING EVENTS,AND BUSINESS LEADS GROUPS, ALONG WITH ANNUAL SIGNATURE EVENTS SUCH AS THE NORTH SHORE BUSINESS EXPO AND SALUTE TO VETERANS BREAKFAST. THE CHAMBER PRESENTS MONTHLY AUDIENCE-TARGETED (PROFESSIONAL WOMEN, YOUNG PROFESSIONALS, ETC.) SEMINARS ON BUSINESS-RELATED TOPICS. THE CHAMBER ALSO ADVOCATES FOR BUSINESS INTERESTS THROUGH VARIOUS CHANNELS WHILE WORKING IN CONJUNCTION WITH SIMILAR NONPROFIT ORGANIZATIONS. THE CHAMBER HELD 50 EVENTS IN THE PAST FISCAL YEAR, ALL AIMED AT CULTIVATING BUSINESS FOR ITS MEMBERSHIP AND WORKING TO IMPROVE THE BUSINESS CLIMATE ON THE NORTH SHORE AS A WHOLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Riley Chairman | Officer | 3 | $0 |
Hannah Ginley Chair-Elect | Officer | 3 | $0 |
Darren Ambler Immediate Past Chair | Officer | 2 | $0 |
Paul Kurker Treasurer | Officer | 3 | $0 |
John Colucci Clerk | Officer | 3 | $0 |
Tara Bassett Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $306,630 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $110,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $416,630 |
| Total Program Service Revenue | $518,082 |
| Investment income | $5,392 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$47 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,091,707 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $100,000 |
| 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. | $229,995 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $314,834 |
| Pension plan accruals and contributions | $30,619 |
| Other employee benefits | $59,008 |
| Payroll taxes | $52,169 |
| Fees for services: Management | $18,126 |
| Fees for services: Legal | $1,100 |
| Fees for services: Accounting | $5,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,310 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $53,415 |
| Information technology | $17,470 |
| Royalties | $0 |
| Occupancy | $70,583 |
| Travel | $1,459 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,899 |
| Interest | $12,453 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,451 |
| Insurance | $7,865 |
| All other expenses | $0 |
| Total functional expenses | $1,193,125 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $29,000 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $5,000 |
| Net Land, buildings, and equipment | $6,646 |
| Investments—publicly traded securities | $121,995 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $272,723 |
| Total assets | $435,364 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $45,000 |
| Unsecured mortgages and notes payable | $86,206 |
| Other liabilities | $262,723 |
| Total liabilities | $393,929 |
| Net assets without donor restrictions | $41,435 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $435,364 |