Brooklyn Chamber Of Commerce Inc
- Assets
- $305.7k
- Revenue
- $868.4k
- Investments
- $0.0
- Employees
- 10
- Location
- Brooklyn, NY
- Founding
- 05/1933
- Data as of
- 12/2021
- EIN
- 11-0577070
Organization Overview
Brooklyn Chamber Of Commerce Inc is located in Brooklyn, NY. The organization was established in 1933. 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, Brooklyn Chamber Of Commerce Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Brooklyn Chamber Of Commerce Inc 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, Brooklyn Chamber Of Commerce Inc generated $868.4k 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 (5.0%) each year. All expenses for the organization totaled $904.2k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.5%) 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
ASSIST BROOKLYN BUSINESSES BY PROVIDING SERVICES, INCLUDING MARKETING, EDUCATION AND ADVOCACY, IN WAYS THAT PROMOTE AND MONITOR ECONOMIC GROWTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBERSHIP EVENTS AND ACTIVITIES - EVENTS AND ACTIVITIES THROUGHOUT THE YEAR TO FOSTER NETWORKING BETWEEN, AND PROVIDE TOPICAL BUSINESS INFORMATION TO, MEMBERS/NON-MEMBERS OF THE BROOKLYN COMMUNITY AND TO GIVE RECOGNITION TO OUTSTANDING INDIVIDUALS AND BUSINESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randolph Peers President & CEO | OfficerTrustee | 23 | $266,800 |
Richard Russo COO | 9 | $32,427 | |
Chandraban Motilall CFO | 8 | $27,975 | |
Susan Doban Secretary | OfficerTrustee | 2 | $0 |
Pasquale Patrone Treasurer | OfficerTrustee | 2 | $0 |
Ana Oliveira Chairman | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $180,016 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,300 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $190,316 |
| Total Program Service Revenue | $613,196 |
| 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 | $868,409 |
| 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. | $139,816 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $242,893 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $589 |
| Payroll taxes | $25,078 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,095 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $282,944 |
| Advertising and promotion | $0 |
| Office expenses | $31,045 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $19,891 |
| Travel | $4,392 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,869 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,921 |
| Insurance | $6,300 |
| All other expenses | $1,020 |
| Total functional expenses | $904,213 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200,024 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $22,810 |
| Accounts receivable, net | $4,282 |
| 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 | $13,603 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $64,995 |
| Total assets | $305,714 |
| Accounts payable and accrued expenses | $206,536 |
| Grants payable | $0 |
| Deferred revenue | $218,701 |
| 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 | $425,237 |
| Net assets without donor restrictions | -$119,523 |
| 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 | $305,714 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Brooklyn Chamber Of Commerce Inc has recieved totaling $328,500.
| Awarding Organization | Amount |
|---|---|
New York-Presbyterian Brooklyn Methodist Brooklyn, NY PURPOSE: SUPPORT | $328,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nysa-Ila Container Royalty Fund Jersey City, NJ | $55,480,172 | $104,394,382 |
Unsatisfied Claims & Judgement Fund Basking Ridge, NJ | $69,007,782 | $67,404,449 |
Gs1 Us Inc Ewing, NJ | $478,037,755 | $93,863,501 |
International Swaps And Derivatives Association Inc New York, NY | $118,665,756 | $65,806,525 |
Association Of National Advertisers Inc New York, NY | $38,717,598 | $50,547,394 |
Global Associations Of Risk Proffesionals Inc Jersey City, NJ | $66,882,119 | $55,059,565 |
Ll Global Inc Of Connecticut Windsor, CT | $82,107,687 | $49,999,799 |
Natural Diamond Council Usa Inc New York, NY | $2,361,726 | $45,450,043 |
Better Health For Northeast New York Inc Albany, NY | $1,699,036 | $0 |
Hamaspik Of Orange County Inc Monroe, NY | $56,250,916 | $69,931,985 |
International Council Of Shopping Centers Inc New York, NY | $167,282,013 | $15,292,706 |
Housing Works Inc Brooklyn, NY | $30,231,683 | $31,989,444 |