Chelsea Chamber Of Commerce
- Assets
- $286.7k
- Revenue
- $87.6k
- Investments
- $0.0
- Employees
- 1
- Location
- Chelsea, MA
- Founding
- 00/0000
- Data as of
- 12/2021
- EIN
- 04-2255031
Organization Overview
Chelsea Chamber Of Commerce is located in Chelsea, MA. The organization was established in 0000. 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 the central organization for a national or regional group of organizations. Chelsea 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, Chelsea Chamber Of Commerce generated $87.6k 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 (5.2%) each year. All expenses for the organization totaled $87.6k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.5%) 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
BUSINESS ASSOCIATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
ORGANIZE BUSINESS FUNCTIONS FOR MEMBERS TO NETWORK, SPONSOR EDUCATIONAL INFORMATION SESSIONS FOR AND TO SUPPLY VARIOUS SUPPORT SERVICES FOR BUSINESS OWNERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Effie Jaramillo Treasurer | Officer | 2 | $0 |
Joseph Vinard Vice President | Officer | 2 | $0 |
Joseph Mahoney President | Officer | 2 | $0 |
Susan E Gallant Vice President | Officer | 2 | $0 |
Kelina Orlando Director | Trustee | 1 | $0 |
Arthur Arsenault Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $35,292 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $38,394 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $73,686 |
| Total Program Service Revenue | $0 |
| 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 | $13,900 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $87,586 |
| 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 | $35,299 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,476 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,589 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $100 |
| Office expenses | $4,293 |
| Information technology | $14,274 |
| Royalties | $0 |
| Occupancy | $19,809 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,500 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,236 |
| All other expenses | $0 |
| Total functional expenses | $87,576 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $123,907 |
| Savings and temporary cash investments | $22,275 |
| 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 | $0 |
| Net Land, buildings, and equipment | $140,473 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $286,655 |
| Accounts payable and accrued expenses | $14,833 |
| 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 | $78,116 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $92,949 |
| Net assets without donor restrictions | $193,706 |
| 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 | $286,655 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Chelsea Chamber Of Commerce has recieved totaling $1,021.
| Awarding Organization | Amount |
|---|---|
Hildreth Stewart Charitable Foundation Boston, MA PURPOSE: GENERAL USE | $1,021 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Rockland Paradmedic Services Inc Chestnut Ridge, NY | $9,826,544 | $8,654,302 |
New York State Society Of Cpas New York, NY | $15,747,345 | $10,100,943 |
My Sisters Place Inc White Plains, NY | $7,100,374 | $7,997,119 |
The Partnership For New York City Inc New York, NY | $50,256,117 | $10,277,356 |
Cat Nms Llc New York, NY | $0 | $6,303,484 |
Iab Technology Laboratory Inc New York, NY | $6,942,203 | $8,765,752 |
Hotel Association Of New York City Inc New York, NY | $10,787,267 | $6,155,523 |
The National Academy Of Television Arts And Sciences Inc New York, NY | $5,641,470 | $7,599,158 |
Council Of The Americas Inc New York, NY | $5,218,204 | $7,617,937 |
Greater New York Automobile Dealers Association Whitestone, NY | $65,972,568 | $4,689,490 |
Downtown Boston Business Improvement District Corporation Boston, MA | $4,039,139 | $7,235,337 |
Greater Boston Chamber Of Commerce Boston, MA | $11,076,057 | $7,257,999 |