Staten Island Chamber Of Commerce Foundation Inc is located in Staten Island, NY. The organization was established in 2000. According to its NTEE Classification (B60) the organization is classified as: Adult Education, under the broad grouping of Education and related organizations. As of 12/2023, Staten Island Chamber Of Commerce Foundation Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Staten Island Chamber Of Commerce Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Staten Island Chamber Of Commerce Foundation Inc generated $800.0k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $1.0m 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
STATEN ISLAND CHAMBER OF COMMERCE FOUNDATION, INC., HEREINAFTER REFERRED TO AS THE FOUNDATION, HAS BEEN CREATED TO SUPPORT AND ADVANCE SMALL BUSINESS DEVELOPMENT AND BUSINESS TECHNOLOGY DEVELOPMENT OF THE STATEN ISLAND COMMUNITY THROUGH CHARITABLE EDUCATIONAL PROGRAMS AND COMMERCIAL REVITALIZATION PROGRAMS THAT LESSEN THE BURDENS OF GOVERNMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DOWNTOWN STATEN ISLAND. THE NEW YORK CITY DEPARTMENT OF SMALL BUSINESS SERVICES (SBS) CREATED THE NEIGHBORHOOD 360 PROGRAM TO IDENTIFY, DEVELOP, AND LAUNCH COMMERCIAL REVITALIZATION PROJECTS IN PARTNERSHIP WITH LOCAL STAKEHOLDERS. THROUGH PROACTIVE PLANNING AND TARGETED INVESTMENTS, NEIGHBORHOOD 360 SUPPORTS PROJECTS THAT STRENGTHEN AND REVITALIZE THE STREETS, SMALL BUSINESSES, AND COMMUNITY-BASED ORGANIZATIONS THAT ANCHOR NEW YORK CITY NEIGHBORHOODS.
CHAMBER ASSIST/WORKFORCE - WORKFORCE DEVELOPMENT PROGRAM TO EDUCATE BUSINESSES ON HOW TO CONNECT TO INTERNS, FOSTER WORK-BASED LEARNING OPPORTUNITIES, AND ASSIST WITH JOB SCREENING AND PLACEMENTS. YOUNG ENTREPRENEUR'S ACADEMY (YEA) - THE YOUNG ENTREPRENEURS ACADEMY (YEA) IS A GROUNDBREAKING AND EXCITING PROGRAM THAT TRANSFORMS LOCAL MIDDLE AND HIGH SCHOOL STUDENTS INTO REAL, CONFIDENT ENTREPRENEURS. BOROUGH PRESIDENT GRANT - FUNDS TO SUPPORT OPERATIONS/TECHNICAL ASSISTANCE. LITTER REMOVAL PROGRAM - TO SUPPORT CLEANUP ACTIVITIES ON STATEN ISLAND. TOURISM - TO INCREASE STATEN ISLAND'S VISIBILITY THROUGH AN OUTREACH AND EDUCATIONAL CAMPAIGN. THE CAMPAIGN INCLUDED HIRING AN OUTSIDE BRANDING FIRM, VISIONING SESSIONS WITH STAKEHOLDERS, NEW PHOTOGRAPHY OF ALL THE ISLAND'S ATTRACTIONS TO DESIGN A NEW WEBSITE, AND COLLATERAL FOR ALL BRANDING AND MARKETING PURPOSES. EMPIRE STATE DEVELOPMENT (ESD) NYS COVID-19 PANDEMIC SMALL BUSINESS RECOVERY PROGRAM. PROVIDE TECHNICAL ASSISTANCE TO NEW YORK STATE MICRO AND SMALL BUSINESSES AND NOT-FOR-PROFIT INDEPENDENT ARTS AND CULTURAL ORGANIZATIONS IN APPLYING FOR THE NEW YORK STATE COVID-19 PANDEMIC SMALL BUSINESS RECOVERY GRANT PROGRAM AND VARIOUS OTHER FEDERAL AND NEW YORK STATE COVID-19 PROGRAMS. LISC VERIZON SMALL BUSINESS ACCELERATOR PROGRAM. COMMUNITY CHAMPION FOR LISC VERIZON SMALL BUSINESS ACCELERATOR PROGRAM. IN THIS ROLE, THE CHAMBER WORKS TO PROMOTE THE PROGRAM AND ENLIST PARTICIPANTS. THE PROGRAM IS APPROPRIATE FOR ALL SMALL AND MIDSIZE BUSINESSES (SMBS), WITH A PRIORITY FOCUS ON RECRUITING BIPOC AND WOMEN BUSINESS OWNERS. WITH FREE PERSONALIZED LEARNING PLANS THAT INCLUDE COURSES, LIVE COACHING SESSIONS WITH INDUSTRY LEADERS, AND COMMUNITY FORUMS AND INCENTIVES, THE PROGRAM GIVES SMALL BUSINESSES THE CHANCE TO LEARN NEW SKILLS, NETWORK WITHIN A LIKE-MINDED COMMUNITY, AND RECEIVE ONE-ON-ONE MENTORING. LISC WELLS FARGO SMALL BUSINESS RESILIENCY PROGRAM. A PILOT PROGRAM TO INCREASE BUSINESS DEVELOPMENT ORGANIZATION (BDO) CAPACITY TO DELIVER DISASTER RESILIENCY SERVICES TO SMALL BUSINESSES. LISC AND WELLS FARGO PARTNERED TO CREATE A SMALL BUSINESS DISASTER RESPONSE STRATEGY TO PREPARE SMALL BUSINESSES TO NOT ONLY STAY OPEN IN THE WAKE OF A DISASTER, BUT ALSO INNOVATE, EXPAND, AND THRIVE. THIS STRATEGY ENCOMPASSED A SMALL BUSINESS RESILIENCY NETWORK AND A DISASTER INFRASTRUCTURE RESILIENCE FUND. THE RESILIENCE FUND WILL ALLOW NON-PROFITS, BUSINESSES, AND OTHER QUALIFYING ENTITIES TO DEPLOY INFRASTRUCTURE INVESTMENTS IN RECOVERABLE GRANTS IN THE AREAS OF ENERGY, TECHNOLOGY, EMERGENCY COMMUNICATIONS, PREVENTION, AND MITIGATION IN TANDEM WITH TECHNICAL ASSISTANCE AND TRAINING OFFERED THROUGH THE RESILIENCY NETWORK. NYC SMALL BUSINESS COVID RECOVERY GRANT PROGRAM. OFFER ONE-ON-ONE ASSISTANCE TO SMALL BUSINESSES IN THE ARTS, ENTERTAINMENT, RECREATION, ACCOMMODATION, AND FOOD SECTORS AND IN LMI COMMUNITIES THROUGHOUT THE APPLICATION PROCESS TO ASSIST THEM IN APPLYING FOR THE SMALL BUSINESS RESILIENCE GRANT.
THE SMALL BUSINESS RESOURCE NETWORK (SBRN). THE SBRN PROGRAM WAS LAUNCHED IN OCTOBER OF 2020, A COLLABORATIVE PARTNERSHIP BETWEEN THE FIVE-BOROUGH CHAMBERS OF COMMERCE, THE PARTNERSHIP FOR NYC, THE NYC ECONOMIC DEVELOPMENT CORPORATION (EDC), AND FUNDED BY THE PETERSON FOUNDATION. IN TOTAL, THERE ARE 22 BUSINESS RECOVERY SPECIALISTS ACROSS THE FIVE BOROUGHS CONNECTING SMALL BUSINESSES TO SUCH SERVICES AS: FINANCING, MARKETING, TECHNOLOGY & E-COMMERCE, LEGAL, PPE, GENERAL BUSINESS COUNSELING AND, AT THAT TIME, INFORMATION REGARDING SAFE OPENING REGULATIONS. THE CURRENT GOAL OF THE NYC SBRN IS TO SERVE 20,000 BUSINESSES ANNUALLY, WITH AN EMPHASIS ON M/WBE'S AND LOW-TO-MODERATE INCOME COMMUNITIES. COLLECTIVELY, WE HAVE CAPACITY TO SERVE BUSINESSES IN OVER EIGHT LANGUAGES OTHER THAN ENGLISH, AND AS WE CONTINUE TO BUILD OUT THE PROGRAM WITH NYC COUNCIL SUPPORT.
CHAMBER ON THE GO. CHAMBER ON-THE-GO IS A MOBILE BUSINESS SUPPORT PROGRAM THAT INFORMS AND EDUCATES NEW YORK CITY SMALL BUSINESS OWNERS ON HOW TO ACCESS FREE SERVICES WITHOUT LEAVING THEIR STOREFRONT.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Linda Baran President & | Officer | 5 | $0 |
Dean Balsamini Director | Trustee | 1 | $0 |
Ram Cherukuri Director | Trustee | 1 | $0 |
Eileen Corigliano Director | Trustee | 1 | $0 |
Carol Decina Director | Trustee | 1 | $0 |
James Easley Director | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $553,184 |
All other contributions, gifts, grants, and similar amounts not included above | $139,335 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $692,519 |
Total Program Service Revenue | $0 |
Investment income | $58,768 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $1,900 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $800,037 |
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 | $471,628 |
Pension plan accruals and contributions | $7,492 |
Other employee benefits | $28,796 |
Payroll taxes | $39,058 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $12,000 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $14,110 |
Fees for services: Other | $36,700 |
Advertising and promotion | $0 |
Office expenses | $24,583 |
Information technology | $8,210 |
Royalties | $0 |
Occupancy | $75,095 |
Travel | $1,631 |
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 | $72,462 |
Insurance | $7,469 |
All other expenses | $0 |
Total functional expenses | $1,012,993 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $139,937 |
Savings and temporary cash investments | $410,866 |
Pledges and grants receivable | $395,305 |
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 | $9,813 |
Net Land, buildings, and equipment | $255,228 |
Investments—publicly traded securities | $2,035,553 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $229,442 |
Total assets | $3,476,144 |
Accounts payable and accrued expenses | $12,000 |
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 | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $383,327 |
Total liabilities | $395,327 |
Net assets without donor restrictions | $2,586,097 |
Net assets with donor restrictions | $494,720 |
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 | $3,476,144 |