German American Chamber Of Commerce Inc
- Assets
- $3.8m
- Revenue
- $6.9m
- Investments
- $0.0
- Employees
- 46
- Location
- New York, NY
- Founding
- 12/1948
- Data as of
- 12/2021
- EIN
- 13-1893850
Organization Overview
German American Chamber Of Commerce Inc is located in New York, NY. The organization was established in 1948. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, German American Chamber Of Commerce Inc employed 46 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. German American 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, German American Chamber Of Commerce Inc generated $6.9m 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 (3.5%) each year. All expenses for the organization totaled $6.5m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.1%) 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
THE GERMAN AMERICAN CHAMBER OF COMMERCE, INC. SUPPORTS, PROMOTES, AND MAXIMIZES TRADE AND INVESTMENT RELATIONSHIPS BETWEEN THE FEDERAL REPUBLIC OF GERMANY & THE US.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AS PART OF OUR SERVICES IN ESTABLISHING BUSINESS PRESENCE IN THE U.S., WE OFFER CONSULTING SERVICES. THESE SERVICES INCLUDE A WIDE RANGE OF INTEGRATIVE OPTIONS, FROM DETAILED MARKET STUDIES TO BUSINESS CORRESPONDENCE SERVICES TO POTENTIAL PARTNERS. WE CUSTOMIZE OUR SERVICES ACCORDING TO EACH CLIENT'S NEEDS SO THAT WE ARE ABLE TO OFFER THE BEST BUSINESS PARTNER REFERRALS AND THE MOST OPTIONS FOR COMMERCIAL TRADE SHOW PREPARATIONS. FURTHERMORE, WE COORDINATE INCENTIVE PROGRAMS TO FACILITATE COMPANIES IN EXPORTING TO THE U.S. WE ALSO PROVIDE SUPPORT FOR COMPANIES IN THEIR SEARCH FOR QUALIFIED BILINGUAL EMPLOYEES. CONSULTING SERVICES INCLUDE: MARKET STUDIES; OFFICE REPRESENTATIONS; INDIVIDUAL BUSINESS PARTNER ARRANGEMENT; U.S. MARKET DEVELOPMENT; VHP USA; AND RECRUITMENT SERVICE.
THE CHAMBER IS PROMOTING THE EXCHANGE OF GERMAN AND AMERICAN INTERNS TO INCREASE THE MUTUAL UNDERSTANDING OF THE TWO BUSINESS CULTURES. CAREER SERVICES OFFERS INTERNSHIP EXCHANGE PROGRAMS FOR THE U.S. AND GERMANY AND IS AN OFFICIAL DEPARTMENT OF STATE DESIGNATED J-1 VISA SPONSOR ORGANIZATION. THE INTERNSHIP PROGRAM USA PROMOTES THE PLACEMENT OF STUDENT AND YOUNG PROFESSIONAL TRAINEES FROM GERMANY WITH COMPANIES LOCATED THROUGHOUT THE U.S. THESE TRAINEES ARE HIGHLY-QUALIFIED ENGLISH-SPEAKERS WHO ARE AVAILABLE TO ACTIVELY TRAIN WITH A HOST-COMPANY FOR UP TO 18 MONTHS, WHEN SPONSORED BY THE GACC J-1 EXCHANGE VISITOR VISA PROGRAM. PLEASE APPLY ONLINE AT OUR JOBXCHANGE. THE INTERNSHIP PROGRAM GERMANY PROMOTES THE PLACEMENT OF AMERICAN TRAINEES FROM LEADING UNIVERSITIES IN THE U.S. WITH COMPANIES IN GERMANY. GACC CAREER SERVICES ASSISTS IN THE PROCUREMENT OF THE REQUIRED WORK AND RESIDENCY PERMITS FOR GERMANY. J-1 EXCHANGE VISITOR VISA: THE GACC CAREER SERVICES OPERATES AN OFFICIAL STATE DEPARTMENT DESIGNATED J-1 VISA PROGRAM, BY ISSUING A CERTIFICATE OF ELIGIBILITY FORM DS-2019. THE GACC CAN ASSIST COMPANIES IN THE U.S. WHO HAVE RECRUITED THEIR OWN TRAINEES FROM GERMANY IN OBTAINING THE NECESSARY J-1 VISA FOR THEIR CANDIDATES.
THE CHAMBER ORGANIZES AND COORDINATES VARIOUS EVENTS AND SEMINARS FOR YOUNG BUSINESS LEADERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dietmar Rieg President And CEO | OfficerTrustee | 38 | $339,428 |
Susanne Gellert Director Legal Services | Trustee | 38 | $169,965 |
Claus Habermeier Director Gtai | Trustee | 38 | $156,824 |
Kristina Garcia Managing Director, Berlin Business Office | Trustee | 38 | $148,129 |
Angelika Geiger Director Gtai | Trustee | 38 | $138,124 |
James Mister Director Bavairan Us Office | Trustee | 38 | $129,476 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $342,337 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,912,481 |
| 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 | $3,254,818 |
| Total Program Service Revenue | $3,610,644 |
| Investment income | $55 |
| 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 | $6,890,973 |
| 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. | $1,971,047 |
| Compensation of current officers, directors, key employees. | $335,078 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,536,067 |
| Pension plan accruals and contributions | $270,196 |
| Other employee benefits | $362,571 |
| Payroll taxes | $316,645 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $87,904 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $431,445 |
| Advertising and promotion | $30,976 |
| Office expenses | $59,877 |
| Information technology | $88,790 |
| Royalties | $0 |
| Occupancy | $569,813 |
| Travel | $92,069 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $90,462 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $119,274 |
| Insurance | $46,108 |
| All other expenses | $34,259 |
| Total functional expenses | $6,495,971 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,534,121 |
| Savings and temporary cash investments | $571,692 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $271,972 |
| 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 | $82,372 |
| Net Land, buildings, and equipment | $98,402 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $261,873 |
| Total assets | $3,820,432 |
| Accounts payable and accrued expenses | $820,945 |
| Grants payable | $0 |
| Deferred revenue | $369,856 |
| 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 | $825,760 |
| Total liabilities | $2,016,561 |
| Net assets without donor restrictions | $0 |
| 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 | $1,803,871 |
| Total liabilities and net assets/fund balances | $3,820,432 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Real Estate Board Of New York Inc New York, NY | $13,608,943 | $14,285,773 |
Philadelphia Convention & Visitors Bureau Of The Chamber Of Commerce Philadelphia, PA | $21,636,489 | $20,955,897 |
The Chamber Of Commerce For Greater Philadelphia Philadelphia, PA | $17,253,411 | $11,743,354 |
United States Council For International Business New York, NY | $8,377,861 | $9,810,410 |
New Jersey Association Of Realtors Trenton, NJ | $35,262,029 | $9,547,353 |
Long Island Board Of Realtors Inc West Babylon, NY | $32,824,680 | $7,922,994 |
German American Chamber Of Commerce Inc New York, NY | $3,820,432 | $6,890,973 |
Buffalo Niagara Convention & Vistors Bureau Inc Buffalo, NY | $3,394,435 | $6,164,269 |
Lake Placid Chamber Of Commerce Inc Lake Placid, NY | $4,857,333 | $6,938,582 |
Economic Development Council Of Western Massachusetts Inc Springfield, MA | $1,229,213 | $5,047,431 |
Independent Drivers Guild Inc Long Island City, NY | $5,104,857 | $7,835,962 |
Greater Lehigh Valley Chamber Of Commerce Easton, PA | $3,461,943 | $5,381,256 |