New Jersey State Chamber Of Commerce
- Assets
- $2.9m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 27
- Location
- Trenton, NJ
- Founding
- 08/1938
- Data as of
- 12/2023
- EIN
- 22-1153980
Organization Overview
New Jersey State Chamber Of Commerce is located in Trenton, 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. As of 12/2023, New Jersey State Chamber Of Commerce employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Jersey State 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 12/2023, New Jersey State Chamber Of Commerce generated $3.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $3.2m during the year ending 12/2023. While expenses have increased by 0.9% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE A VIBRANT BUSINESS ENVIRONMENT AND ECONOMIC PROSPERITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE NEW JERSEY CHAMBER'S GOVERNMENT RELATIONS TEAM IN 2023 PROVIDED BUSINESS ADVOCACY, INCLUDING INTERACTIONS WITH LEGISLATORS AND MEMBERS OF THE GOVERNOR'S CABINET TO DISCUSS WAYS TO REDUCE TAXES AND BURDENSOME REGULATIONS, AND TO PROMOTE POLICIES THAT HELP THE STATE'S ECONOMY AND BUSINESSES GROW AND THRIVE. ADDITIONALLY, THE CHAMBER HOSTED A SERIES OF IN-PERSON EVENTS THAT CONNECT THE STATE'S BUSINESS AND POLITICAL LEADERS, INCLUDING A BUSINESS ROUNDTABLE SERIES OF LIVE EVENTS FEATURING LEGISLATORS AND CABINET MEMBERS. THE N.J. CHAMBER ALSO ESTABLISHED AND MEETS REGULARLY WITH THE CHAMBER ALLIANCE, A COALITION OF EXECUTIVES FROM LOCAL AND REGIONAL CHAMBERS OF COMMERCE TO DISCUSS BUSINESS ISSUES OF COMMON INTEREST AND HOW TO ADDRESS THEM TOGETHER.
THE NEW JERSEY CHAMBER OF COMMERCE IN 2023 HOSTED IN-PERSON AND VIRTUAL NETWORKING EVENTS WHERE EXECUTIVES FROM CHAMBER MEMBER COMPANIES CONNECTED AND MET PROSPECTIVE CUSTOMERS/CLIENTS. IN 2023, WITH A CONTINUED FOCUS ON DIVERSITY AND INCLUSION, THE N.J. CHAMBER TEAMED UP WITH THE AFRICAN AMERICAN CHAMBER OF COMMERCE OF NEW JERSEY TO HOST THE DE&I TRAILBLAZER AWARDS RECEPTION THAT RECOGNIZED NEW JERSEY COMPANIES THAT DEMONSTRATE TANGIBLE AND MEASURABLE PROGRESS IN DIVERSITY, EQUITY AND INCLUSION. IN 2023, THE N.J. CHAMBER ALSO HOSTED THE RENEW JERSEY BUSINESS SUMMIT & EXPO IN ATLANTIC CITY WHERE PANELS OF EXPERTS DISCUSSED AND PROPOSED SOLUTIONS TO THE STATE'S BIGGEST ECONOMIC CHALLENGES. IT'S ATTRACTED 850 BUSINESS LEADERS, AND 80 VENDORS WHO SHOWCASED THEIR TRADES AND SERVICES.
THE NEW JERSEY CHAMBER SUPPORTS EDUCATION AND WORKFORCE READINESS, WITH PROGRAMMING TO HELP THE NEXT GENERATION OF WORKERS PREPARE FOR THE COMPETITIVE WORLDS OF COLLEGE ADMISSIONS AND EMPLOYMENT. THE N.J. CHAMBER ALSO PRODUCED A SERIES OF WEBINARS TO DISCUSS AND OFFER PRACTICAL ADVICE ON HOT-BUTTON ISSUES FACING NEW JERSEY'S SMALL BUSINESSES. THE CHAMBER ALSO SENDS MEMBERS AN ELECTRONIC NEWSLETTER, CALLED NJ CHAMBEREDGE, FEATURING EXCLUSIVE ARTICLES WITH EXPERT ADVICE ON IMPORTANT MATTERS RANGING FROM JOB RECRUITING TO DEVELOPING BUSINESS PROSPECTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Bracken President/ceo | Officer | 40 | $558,200 |
Michael Egenton VP Of Government Affairs | 40 | $238,801 | |
Kevin Friedlander VP Of Communications | 40 | $182,587 | |
Rebecca Turetzkin VP Of Finance | Officer | 40 | $146,399 |
Donna Custard President - Nj Chamber Fdn | 40 | $147,552 | |
Neil Wildonger VP Of Operations | 40 | $151,101 |
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 | $111,430 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $111,430 |
| Total Program Service Revenue | $2,958,893 |
| Investment income | $68,066 |
| 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 | $3,141,097 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,350 |
| 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. | $754,942 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,092,918 |
| Pension plan accruals and contributions | $35,141 |
| Other employee benefits | $206,035 |
| Payroll taxes | $122,217 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $31,425 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $91,029 |
| Advertising and promotion | $3,793 |
| Office expenses | $73,575 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $55,188 |
| Travel | $14,428 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $435,119 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $27,910 |
| Insurance | $30,234 |
| All other expenses | $16,255 |
| Total functional expenses | $3,170,158 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $500 |
| Savings and temporary cash investments | $2,173,381 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $181,212 |
| 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 | $56,088 |
| Net Land, buildings, and equipment | $397,622 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $48,616 |
| Total assets | $2,857,419 |
| Accounts payable and accrued expenses | $192,516 |
| Grants payable | $0 |
| Deferred revenue | $901,071 |
| 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 | $48,506 |
| Total liabilities | $1,142,093 |
| Net assets without donor restrictions | $265,794 |
| Net assets with donor restrictions | $1,449,532 |
| 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 | $2,857,419 |