Greater Providence Chamber Of Commerce
- Assets
- $10.6m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 8
- Location
- Providence, RI
- Founding
- 11/1942
- Data as of
- 09/2021
- EIN
- 05-0203250
Organization Overview
Greater Providence Chamber Of Commerce is located in Providence, RI. The organization was established in 1942. 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 09/2021, Greater Providence Chamber Of Commerce employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Providence 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 09/2021, Greater Providence Chamber Of Commerce generated $1.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $1.6m during the year ending 09/2021. 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
PROMOTE BUSINESSES THROUGH THE ORGANIZATION OF VARIOUS MEETINGS, FUNCTIONS, AND PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE GREATER PROVIDENCE CHAMBER OF COMMERCE PROMOTES BUSINESS AND COMMUNITY GROWTH AND DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laureen L White President | OfficerTrustee | 40 | $253,553 |
Janet Raymond Senior VP Economic Develop | 40 | $121,457 | |
Valerie B Murray Senior VP Finance | Officer | 40 | $120,226 |
Alden Anderson Chairman | OfficerTrustee | 2 | $0 |
Sandra Parrillo Vice Chair - Board Of Trustees | OfficerTrustee | 2 | $0 |
Patricia Thompson Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $697,235 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $330,920 |
| 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 | $1,028,155 |
| Total Program Service Revenue | $430,707 |
| Investment income | $137,139 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$146,393 |
| Net Gain/Loss on Asset Sales | $381,349 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,830,957 |
| 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. | $446,810 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $440,141 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $118,550 |
| Payroll taxes | $55,360 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,336 |
| Fees for services: Accounting | $21,025 |
| Fees for services: Lobbying | $105,250 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $52,587 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $5,595 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,960 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $88,233 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,090 |
| Insurance | $10,424 |
| All other expenses | $15,721 |
| Total functional expenses | $1,584,988 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $184,463 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $26,138 |
| 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 | $1,482 |
| Net Land, buildings, and equipment | $1,586,611 |
| Investments—publicly traded securities | $8,839,242 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,637,936 |
| Accounts payable and accrued expenses | $233,716 |
| Grants payable | $0 |
| Deferred revenue | $64,975 |
| 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 | $0 |
| Total liabilities | $298,691 |
| Net assets without donor restrictions | $10,339,245 |
| 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 | $10,637,936 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Greater Providence Chamber Of Commerce has recieved totaling $10,568.
| Awarding Organization | Amount |
|---|---|
Tufts Associated Health Maintenance Organization Inc Canton, MA PURPOSE: 2022 Signature Events Gold - Golf Sponsorship | $10,568 |
Endowment Analysis
| Beg. Balance | $7,431,223 |
| Earnings | $1,506,560 |
| Other Expense | $99,852 |
| Ending Balance | $8,837,931 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Telecom Infra Project Inc Wakefield, MA | $19,363,144 | $19,879,167 |
Northeast Gas Association Inc Needham, MA | $15,830,312 | $17,592,560 |
Chartered Alternative Investment Analyst Association Inc Amherst, MA | $10,766,695 | $9,878,929 |
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 |
Better Business Bureau Inc Marlborough, MA | $5,408,175 | $6,008,226 |
Two Ten Footwear Foundation Inc Waltham, MA | $38,171,628 | $5,812,562 |
Lean Enterprise Institute Inc Boston, MA | $4,353,748 | $5,746,296 |
New England Dairy Promotion Board Inc Boston, MA | $769,359 | $4,433,734 |
Massachusetts Society Of Certified Public Accountants Inc Boston, MA | $5,581,764 | $4,333,223 |
International Association Of Contract And Commercial Managers I Ridgefield, CT | $4,847,287 | $5,540,038 |
Connecticut Business & Industry Assn Inc Hartford, CT | $20,148,915 | $6,195,930 |