Cambridge Chamber Of Commerce
- Assets
- $1.4m
- Revenue
- $825.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Cambridge, MA
- Founding
- 09/1943
- Data as of
- 12/2021
- EIN
- 04-1144780
Organization Overview
Cambridge Chamber Of Commerce is located in Cambridge, MA. The organization was established in 1943. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cambridge 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 12/2021, Cambridge Chamber Of Commerce generated $825.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $640.2k during the year ending 12/2021. While expenses have increased by 2.1% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
ENGAGING LOCAL BUSINESS LEADERS IN GOVERNMENTAL AND PHILANTHROPIC ACTIVITIES, CONNECTING AND EDUCATING ITS MEMBERS, AND PROVIDING A FORUM FOR ADDRESSING THE NEEDS OF THE CAMBRIDGE, MASSACHUSETTS BUSINESS COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CHAMBER PROVIDES MEMBERSHIP TO LOCAL BUSINESSES TO PROVIDE THEM THE ABILITY TO CONNECT WITH ITS LOCAL COMMUNITY TO OBTAIN PRODUCTS, SERVICES, CLIENTS AND EMPLOYEES. THE CHAMBER CONNECTS ITS MEMBERS LARGE AND SMALL WITH THE PEOPLE, PRODUCTS, AND SERVICES NECESSARY TO SUCCEED. THE CHAMBER'S ABILITY TO PROVIDE THE RESOURCES THAT ALL COMPANIES NEED AND SHARE IS UNMATCHED BY ANY OTHER BUSINESS ORGANIZATION IN THE CITY. THE CHAMBER IS THE CONDUIT THROUGH WHICH MANY CAMBRIDGE BUSINESSES ACCESS OPPORTUNITIES AND FUNNEL RESOURCES INTO CAMBRIDGE SCHOOLS AND NONPROFIT ORGANIZATIONS.THE CHAMBER OFFERS MANY VENUES FOR COMPANIES TO CONNECT TO OTHER MEMBERS AND THE GENERAL PUBLIC INCLUDING COMMITTEES, NETWORKING EVENTS, PUBLICATIONS AND PROFESSIONAL DEVELOPMENT WORKSHOPS. THROUGH ITS PROGRAMS AND EVENTS, THE CHAMBER ENABLES MEMBERS TO DEVELOP PERSONALLY AND PROFESSIONALLY. THE CHAMBER'S EDUCATIONAL PROGRAMMING PROVIDES OPPORTUNITIES TO BUILD NEW RELATIONSHIPS, DISCOVER AND DISCUSS TOPICS VITAL TO SUCCESS IN TODAY'S BUSINESS WORLD, AND MEET WITH LEADING BUSINESS, POLITICAL AND PUBLIC FIGURES WHO INFLUENCE THE REGION'S ECONOMY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Maher President/ceo | OfficerTrustee | 40 | $171,262 |
Paul Lee Treasurer | OfficerTrustee | 1 | $0 |
Thomas Lucey Chair | OfficerTrustee | 1 | $0 |
Robyn Culbertson Vice Chair | OfficerTrustee | 1 | $0 |
Gilda Nogueira Vice Chair | OfficerTrustee | 1 | $0 |
Katherine Rafferty Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $317,165 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $175,528 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $492,693 |
| Total Program Service Revenue | $183,166 |
| Investment income | $25,293 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $124,569 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $825,721 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $420,429 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $20,600 |
| Payroll taxes | $34,910 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,225 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,348 |
| Fees for services: Other | $14,233 |
| Advertising and promotion | $9,794 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $58,623 |
| Travel | $50 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $754 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,822 |
| Insurance | $4,709 |
| All other expenses | $12,689 |
| Total functional expenses | $640,194 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $66,200 |
| Savings and temporary cash investments | $64,685 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $62,957 |
| 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 | $10,535 |
| Net Land, buildings, and equipment | $11,228 |
| Investments—publicly traded securities | $1,217,284 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,880 |
| Total assets | $1,439,769 |
| Accounts payable and accrued expenses | $2,926 |
| 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 | $75,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $77,926 |
| 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 | $1,361,843 |
| Total liabilities and net assets/fund balances | $1,439,769 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Cambridge Chamber Of Commerce has recieved totaling $2,500.
| Awarding Organization | Amount |
|---|---|
Eversource Energy Foundation Inc Hartford, CT PURPOSE: SUPPORT FOR THE BUSINESS OUTREACH CAMPAIGN | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
International Swaps And Derivatives Association Inc New York, NY | $118,665,756 | $65,806,525 |
Association Of National Advertisers Inc New York, NY | $38,717,598 | $50,547,394 |
Ll Global Inc Of Connecticut Windsor, CT | $82,107,687 | $49,999,799 |
Natural Diamond Council Usa Inc New York, NY | $2,361,726 | $45,450,043 |
Better Health For Northeast New York Inc Albany, NY | $1,699,036 | $0 |
Hamaspik Of Orange County Inc Monroe, NY | $56,250,916 | $69,931,985 |
International Association Of Privacy Professionals Portsmouth, NH | $95,531,598 | $42,238,853 |
International Council Of Shopping Centers Inc New York, NY | $167,282,013 | $15,292,706 |
Housing Works Inc Brooklyn, NY | $30,231,683 | $31,989,444 |
Key Human Services Inc Wethersfield, CT | $14,644,434 | $25,649,507 |
Network Inc Andover, CT | $11,161,726 | $23,443,256 |
Broadway Cares-Equity Fights Aids Inc New York, NY | $15,399,806 | $32,018,599 |