Gateway Regional Chamber Of Commerce Inc
- Assets
- $209.8k
- Revenue
- $284.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Elizabeth, NJ
- Founding
- 05/1938
- Data as of
- 06/2024
- EIN
- 22-0887600
Organization Overview
Gateway Regional Chamber Of Commerce Inc is located in Elizabeth, NJ. The organization was established in 1938. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gateway Regional 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 06/2024, Gateway Regional Chamber Of Commerce Inc generated $284.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (7.8%) each year. All expenses for the organization totaled $418.0k during the year ending 06/2024. As we would expect to see with falling revenues, expenses have declined by (3.7%) per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE GATEWAY CHAMBER OF COMMERCE IS TO PROMOTE AND ENHANCE THE ECONOMIC VITALITY OF OUR REGION BY CONNECTING BUSINESSES, FOSTERING PARTNERSHIPS, AND PROVIDING VALUABLE RESOURCES AND SERVICES. WE ARE COMMITTED TO ADVOCATING FOR A BUSINESS-FRIENDLY ENVIRONMENT, FACILITATING NETWORKING OPPORTUNITIES, AND OFFERING EDUCATIONAL PROGRAMS THAT EMPOWER OUR MEMBERS TO THRIVE IN AN EVER-CHANGING MARKETPLACE. AS A CATALYST FOR ECONOMIC EXCELLENCE, WE CHAMPION THE PROSPERITY OF OUR MEMBERS WHILE CONTRIBUTING TO THE OVERALL WELL-BEING OF THE COMMUNITIES WE SERVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE GATEWAY REGIONAL CHAMBER OF COMMERCE IS A LEADING BUSINESS ORGANIZATION IN THE REGION. ESTABLISHED IN 1911, ONE OF THE CHAMBER'S FOUNDING MEMBERS WAS JOHN D. ROCKEFELLER. TODAY, THE GATEWAY REGIONAL CHAMBER IS THE LARGEST BUSINESS ASSOCIATION IN NORTHERN NEW JERSEY WITH MEMBERS RANGING FROM FORTUNE 100 CORPORATIONS TO ENTREPRENEURIAL BUSINESSES.WITH A FOCUS ON SERVING MEMBERS IN UNION, ESSEX, MIDDLESEX, AND SOMERSET COUNTIES, WE ARE THE ONLY MULTI-COUNTY ASSOCIATION IN NORTHERN AND CENTRAL NEW JERSEY. WE HAVE A UNIQUE STRUCTURE OF SERVING AS AN UMBRELLA ORGANIZATION FOR A NUMBER OF REGIONAL AND LOCAL CHAMBERS AND NETWORKING GROUPS IN ITS REGIONAL FOOTPRINT.
WE HOST NUMEROUS EVENTS EACH YEAR INCLUDING: NETWORKING SOCIALS, EDUCATIONAL BUSINESS SEMINARS, SPECIAL INTEREST GROUP GATHERINGS, GALA AWARD DINNERS, BUSINESS EXPOS, TRADE FAIRS, AND LOCAL ACTIVITIES. IN ADDITION, OUR SIZE ALLOWS US TO NEGOTIATE SAVINGS ON BUSINESS SERVICES FOR MEMBERS, SUCH AS CREDIT CARD PROCESSING, TELECOMMUNICATIONS, TRAINING, HEALTH INSURANCE, DENTAL PROGRAMS, AND A WIDE RANGE OF OTHER SERVICES. OUR FOCUS IS TO BE AN EFFECTIVE ADVOCATE FOR THE BUSINESS COMMUNITY AT A FEDERAL, STATE AND LOCAL LEVEL. WE PUBLISH THE INSIDE BUSINESS MAGAZINE, A QUARTERLY NEWS PUBLICATION.
THE GATEWAY CHAMBER SERVES AS AN UMBRELLA ORGANIZATION FOR REGIONAL AND LOCAL CHAMBERS AND NETWORKING GROUPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth Manzo Chair | OfficerTrustee | 2 | $0 |
Sandy Hilenski Vice Chair | OfficerTrustee | 2 | $0 |
Lou Beckerman Treasurer | OfficerTrustee | 2 | $0 |
Ebony Parham Director | Trustee | 1 | $0 |
Denis Connell Director | Trustee | 1 | $0 |
Rocio Escalante Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $282,594 |
| Investment income | $17 |
| 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 | $284,642 |
| 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. | $139,078 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $170,034 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $497 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,729 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $14,409 |
| Advertising and promotion | $12,402 |
| Office expenses | $4,636 |
| Information technology | $2,835 |
| Royalties | $0 |
| Occupancy | $585 |
| Travel | $4,642 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,248 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,783 |
| All other expenses | $0 |
| Total functional expenses | $417,975 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $209,810 |
| Pledges and grants receivable | $0 |
| 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 | $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 | $209,810 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $209,810 |
| 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 | $209,810 |