Metrowest Chamber Of Commerce
- Assets
- $88.3k
- Revenue
- $307.6k
- Investments
- $0.0
- Employees
- 3
- Location
- Framingham, MA
- Founding
- 01/1941
- Data as of
- 12/2021
- EIN
- 04-1339795
Organization Overview
Metrowest Chamber Of Commerce is located in Framingham, MA. The organization was established in 1941. 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 12/2021, Metrowest Chamber Of Commerce employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Metrowest 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, Metrowest Chamber Of Commerce generated $307.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.8%) each year. All expenses for the organization totaled $290.9k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (10.1%) per year over the past 7 years. 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
TO FURTHER ECONOMIC DEVELOPMENT AND PROMOTE THE ECONOMIC WELL-BEING OF THE METROWEST REGION OF MASSACHUSETTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TASTE OF METROWEST - TO FURTHER THE DEVELOPMENT AND COMMERCIAL WELFARE OF THE METROWEST REGION OF MASSACHUSETTS THROUGH SHOWCASING RESTAURANTS, BEVERAGE PURVEYORS AND NON-PROFITS IN THE METROWEST REGION.
C
ANNUAL GALA AND AWARDS DINNER - TO FURTHER THE DEVELOPMENT AND COMMERCIAL WELFARE OF THE METROWEST REGION OF MASSACHUSETTS THROUGH RECOGNITION OF OUR MEMBERS AND THEIR ACCOMPLISHMENTS TOWARDS THESE GOALS.
ANNUAL GOLF TOURNAMENT - TOURNAMENT IS THE CHAMBER'S MAJOR FUNDRAISER FOR THE METROWEST CHAMBER EDUCATIONAL FOUNDATION. PROCEEDS AWARD SCHOLARSHIPS TO THE METROWEST GRADUATING HIGH SCHOOL SENIORS FOR FURTHER EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Giammarinaro President | Trustee | 20 | $90,214 |
Stephanie Hirshon Co-Director | Trustee | 20 | $69,078 |
Peter Barbieri Director | Trustee | $0 | |
Ryan Burkhart Director | Trustee | $0 | |
Brian Casaceli Director | Trustee | $0 | |
Lydia Colon Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $221,275 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $45,297 |
| 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 | $266,572 |
| Total Program Service Revenue | $34,129 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $307,554 |
| 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. | $159,292 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,723 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $23,755 |
| Payroll taxes | $15,288 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,910 |
| Fees for services: Lobbying | $13,716 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $25,701 |
| Office expenses | $419 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,632 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,106 |
| All other expenses | $7,321 |
| Total functional expenses | $290,919 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $84,044 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,250 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $88,294 |
| Accounts payable and accrued expenses | $6,041 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $24,900 |
| Total liabilities | $30,941 |
| Net assets without donor restrictions | $57,353 |
| 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 | $88,294 |