Atlantic City Chamber Of Commerce

Organization Overview

Atlantic City Chamber Of Commerce is located in Northfield, NJ. 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 05/2023, Atlantic City Chamber Of Commerce employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Atlantic City 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 05/2023, Atlantic City Chamber Of Commerce generated $570.4k 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 (6.6%) each year. All expenses for the organization totaled $650.9k during the year ending 05/2023. As we would expect to see with falling revenues, expenses have declined by (9.3%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

TO CREATE A FAVORABLE BUSINESS CLIMATE IN ATLANTIC CITY AND SURROUNDING MAINLAND COMMUNITIES BY PROVIDING MEANINGFUL SERVICES TO ITS MEMBERS. ALSO, TO SERVE AS A STRONG BUSINESS ADVOCACY THAT HELPS SHAPE PUBLIC POLICY AND TO WORK TO CREATE BUSINESS OPPORTUNITIES FOR THE MEMBERS AND TO LOWER THEIR COST OF DOING BUSINESS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROGRAM SERVICES ARE FOCUSED ON THE CHAMBER'S STRONG BUSINESS ADVOCACY ROLE, HELPING TO SHAPE PUBLIC POLICY, AND WORKING ON CREATING BUSINESS OPPORTUNITIES FOR ITS MEMBERS.


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Board, Officers & Key Employees

Name (title)Compensation
Michael Chait
President
$110,978
Larry Sieg
Boardmember
$0
Charlie Wimberg
Immed Past Pres
$0
Ken Calemmo
Econ Dev Chair
$0
Derrick Benns
Boardmember
$0
Janice Johnston
Chairwoman
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $5,589
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$5,589
Total Program Service Revenue$561,969
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 $570,383

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