Chelsea Chamber Of Commerce
- Assets
- $218.2k
- Revenue
- $209.8k
- Investments
- $0.0
- Employees
- 5
- Location
- Chelsea, MA
- Founding
- 00/0000
- Data as of
- 12/2023
- 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. As of 12/2023, Chelsea Chamber Of Commerce employed 5 individuals. 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 12/2023, Chelsea Chamber Of Commerce generated $209.8k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $239.1k during the year ending 12/2023. While expenses have increased by 9.6% per year over the past 9 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
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
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Madelyn Garcia Director | Trustee | 1 | $0 |
Nader Acevedo Director | Trustee | 1 | $0 |
Renee Caso Director | Trustee | 1 | $0 |
Richard Gordon Director | Trustee | 1 | $0 |
Yahya Noor Director | Trustee | 1 | $0 |
Mustapha Et-Taik Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $39,675 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $110,131 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $149,806 |
| Total Program Service Revenue | $21,548 |
| Investment income | $42 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $38,447 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $209,843 |
| 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 | $157,390 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,800 |
| Payroll taxes | $14,037 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,470 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,505 |
| Advertising and promotion | $605 |
| Office expenses | $7,880 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $16,964 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $7,070 |
| All other expenses | $587 |
| Total functional expenses | $239,066 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $47,644 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,000 |
| 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 | $150,552 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $218,196 |
| Accounts payable and accrued expenses | $5,025 |
| 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 | $61,043 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $66,068 |
| Net assets without donor restrictions | $152,128 |
| 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 | $218,196 |