Falmouth Chamber Of Commerce
- Assets
- $142.1k
- Revenue
- $315.7k
- Investments
- $0.0
- Employees
- 3
- Location
- Falmouth, MA
- Founding
- 11/1970
- Data as of
- 12/2023
- EIN
- 04-2323418
Organization Overview
Falmouth Chamber Of Commerce is located in Falmouth, MA. The organization was established in 1970. 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, Falmouth Chamber Of Commerce employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Falmouth 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, Falmouth Chamber Of Commerce generated $315.7k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $360.5k during the year ending 12/2023. 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
DEVELOPMENT OF COMMERCE AND TOURISM
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPMENT OF COMMERCE AND TOURISM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven Peters Chairman | Trustee | 1 | $0 |
Jim Underdah Treasurer | Trustee | 1 | $0 |
Karen Rinaldo Vice Chairman | Trustee | 1 | $0 |
Tim Duffany Director | Trustee | 1 | $0 |
Brian Loewen Director | Trustee | 1 | $0 |
Michael Kasparian President | Officer | 40 | $108,668 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $143,412 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $10,000 |
| 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 | $153,412 |
| Total Program Service Revenue | $94,252 |
| Investment income | $634 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $28,600 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $37,159 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,596 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $315,653 |
| 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. | $108,668 |
| Compensation of current officers, directors, key employees. | $108,668 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $86,603 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $16,290 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,004 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $15,216 |
| Office expenses | $37,466 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $21,953 |
| Travel | $1,452 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,117 |
| Interest | $1,960 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,486 |
| Insurance | $11,446 |
| All other expenses | $0 |
| Total functional expenses | $360,466 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,366 |
| Savings and temporary cash investments | $33,741 |
| 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 | $98,034 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $142,141 |
| 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 | $49,020 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,631 |
| Total liabilities | $55,651 |
| Net assets without donor restrictions | $86,490 |
| 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 | $142,141 |