Venango Area Chamber Of Commerce
- Assets
- $332.9k
- Revenue
- $393.5k
- Investments
- $0.0
- Employees
- 6
- Location
- Oil City, PA
- Founding
- 11/2005
- Data as of
- 12/2021
- EIN
- 20-2835456
Organization Overview
Venango Area Chamber Of Commerce is located in Oil City, PA. The organization was established in 2005. 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, Venango Area Chamber Of Commerce employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Venango Area 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 12/2021, Venango Area Chamber Of Commerce generated $393.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.3% each year. All expenses for the organization totaled $281.6k during the year ending 12/2021. While expenses have increased by 5.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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 VENANGO AREA CHAMBER OF COMMERCE BUILDS, SERVES AND PROMOTES REGIONAL BUSINESS. THE CHAMBER STRIVES TO KEEP PROGRAMS CURRENT AND RESPONSIVE TO THE DEMANDS OF VENANGO'S CURRENT BUSINESS CLIMATE, ACTING AS A BRIDGE THAT LINKS BUSINESSES, ORGANIZATIONS AND RESIDENTS TOGETHER WITH INNOVATIVE PROGRAMS THAT STRENGTHEN VENANGO COUNTY'S LONG-TERM ECONOMIC VITALITY, BUSINESS SUCCESS, JOB CREATION AND QUALITY OF LIFE. WE PROVIDE SEVERAL WAYS FOR OUR MEMBERS TO ENHANCE THEIR CREDIBILITY, GAIN RECOGNITION, HAVE A VOICE IN ISSUES AFFECTING BUSINESS, IMPROVE THEIR BOTTOM LINES, GET INVOLVED THROUGH NETWORKING EVENTS AND VOLUNTEERING, AND SO MUCH MORE
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MEMBERS OF THE VENANGO AREA CHAMBER OF COMMERCE ANNUALLY PRODUCE JOINTLY THROUGH VOLUNTEER EFFORTS AN "OIL HERITAGE FESTIVAL" IN AN EFFORT TO ADVANCE THE PUBLIC PERCEPTION OF THE CITY OF OIL CITY, AS WELL AS VENANGO COUNTY AND TO INVITE PEOPLE FROM OUTSTIDE THE COMMUNITY, AS WELL AS LOCAL RESIDENTS, TO COME TO THE CITY AND PARTICIPATE IN THE CITY'S PAST AND CURRENT HERITAGE. THE EVENT IS MEANT TO CREATE BUSINESS, INFORAMTION, AND LEADERSHIP CONNECTIONS.
LEADERSHIP PROGRAMS: THE CHAMBER HOSTS SEVERAL PROGRAMS TO ADVANCE LEADERSHIP IN VENANGO COUNTY, WORKING WITH LOCAL SCHOOLS, YOUNG PROFESSIONALS AND CIVIC LEADERSHIP. - VENANGOREADY - K-12 WORK READINESS PROGRAM - FLEX - FUTURE LEADERS ENTREPRENEURS EXCHANGE (YOUNG PROFESSIONALS) - LEADERSHIP VENANGO - 9 MONTH LEADERSHIP PROGRAM
THE CHAMBER ADVOCATES FOR A HEALTHY BUSINESS CLIMATE, THROUGH THE BE HERE VENANGO QUALITY OF LIFE INITIATIVE, LEGISLATIVE ADVOCACY AND CONVENING BUSINESS FORUMS AND EDUCATIONAL OPPORTUNITIES FOR MEMBER BUSINESSES AND ORGANIZATIONS.
ALL OTHER PROGRAMS INCLUDE, BUT NOT LIMITED TO, MEMBERSHIP PROGRAMS AND SUPPORT SERVICES IN ORDER TO PROMOTE BUSINESS CONNECTIONS, FLOW OF INFORMATION AND SPOTLIGHT LOCAL BUSINESSES. PROGRAMS AND EVENTS INCLUDE SOCIAL GATHERINGS, GOLF OUTINGS, DINNERS, ETC. THE YOUNG PROFESSIONAL PROGRAM SPOTLIGHTS FUTURE LEADERS AND ENTREPRENEURS' OF THE AREA, ALLOWING THEM TO MAKE CONNECTIONS AND DEVELOPE THEIR CAREERS IN ORDER TO HELP SHAPE THE FUTURE OF THE VENANGO AREA. LEADERSHIP VENANGO IS A NINE-MONTH PROGRAM DESIGNED TO MOTIVATE INDIVIDUALS WHO DESIRE TO BECOME MORE EFFECTIVE LEADERS. THE PROGRAM SEEKS TO BETTER UNDERSTAND THE PROBLEMS AND THE OPPORTUNITIES IN VENANGO COUNTY TO FURTHER FUTURE GROWTH AND SUSTAIN. ALL PROGRAMS WERE SUCESSFUL THIS YEAR AND CONTINUE TO GROW INTERST AMONG THE RESIDENTS AND BUSINESSOWNERS OF VENANGO COUNTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Trenton Moulin Chairman | Trustee | $0 | |
Jeannie Henry Treasurer | Trustee | $0 | |
Hope Lineman Director | Trustee | $0 | |
Ryan Bell Director | Trustee | $0 | |
Matthew Deal Director | Trustee | $0 | |
Doug Eberle Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $134,129 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $79,136 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $213,265 |
| Total Program Service Revenue | $140,190 |
| Investment income | $275 |
| 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 | $393,509 |
| 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 | $119,721 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,597 |
| Payroll taxes | $7,143 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,000 |
| Fees for services: Accounting | $1,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $9,571 |
| Office expenses | $17,033 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $13,114 |
| Travel | $358 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $798 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,401 |
| All other expenses | $26,654 |
| Total functional expenses | $281,561 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $303,576 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,631 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $8,673 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $332,880 |
| Accounts payable and accrued expenses | $4,187 |
| 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 | $0 |
| Total liabilities | $4,187 |
| Net assets without donor restrictions | $328,693 |
| 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 | $332,880 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Venango Area Chamber Of Commerce has recieved totaling $13,500.
| Awarding Organization | Amount |
|---|---|
Bridge Builders Community Foundation Oil City, PA PURPOSE: TO ASSIST WITH THE PROGRAMS AND OPERATIONS OF THE ORGANIZATION | $13,500 |
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 |
Mexican Haas Avocado Importers Association Fallston, MD | $10,238,623 | $43,648,629 |
Global Associations Of Risk Proffesionals Inc Jersey City, NJ | $66,882,119 | $55,059,565 |
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 |