Foundation Of Lancaster Chamber
- Assets
- $12.1m
- Revenue
- $161.9k
- Investments
- $6.2m
- Employees
- 0
- Location
- Lancaster, PA
- Founding
- 08/1985
- Data as of
- 12/2023
- EIN
- 22-2608944
Organization Overview
Foundation Of Lancaster Chamber is located in Lancaster, PA. The organization was established in 1985. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, 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. Foundation Of Lancaster Chamber 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, Foundation Of Lancaster Chamber generated $161.9k 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 (13.0%) each year. All expenses for the organization totaled $532.5k 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
PROVIDES EDUCATIONAL AND TRAINING PROGRAMS AND MEETING SPACE FOR NON-PROFITS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION PROVIDES SUPPORT TO THE BUSINESS COMMUNITY THROUGH THE WORK OF THE LANCASTER CHAMBER, PROVIDING FUNDING FOR SPECIFIC TARGETED PROGRAMS. IN 2023, THE FOUNDATION'S FOCUS WAS ON WORKFORCE PRIORITIES; THE FOUNDATION PARTNERS, SUPPORTS, AND /OR LEADS OPPORTUNITIES AND SOLUTIONS TO ADDRESS WORKFORCE CHALLENGES. 142 COMMUNITY MEMBERS ENGAGED WITH ACHIEVE, A DEGREE COMPLETION PROGRAM. 52 STUDENTS ARE CONTINUING TO PURSUE DEGREE COMPLETION ACROSS 3 PARTNER INSTITUTIONS, 47 BUSINESSES JOINED OUR INSPIRE PLATFORM TO PROVIDE EXPERENTIAL LEARNING FOR STUDENTS IN GRADES K-12 THROUGHOUT OUR COUNTY AND THROUGH OUR DISCOVERING PATHS MENTORING PROGRAM THAT PAIRED 124 HIGH SCHOOL JUNIORS FROM 13 LANCASTER HIGH SCHOOLS WITH 1:1 MENTORING EXPERIENCE IN LANCASTER COUNTY. THE FOUNDATION ALSO STARTED TO HOUSE CULTIVATE! WHICH INFORMS, NAVIGATES, CONNECTS AND COORDINATES ENTREPRENEURS WITH BUSINESS RESOURCE PROVIDERS TO ACHIEVE PROSPERITY AND EQUITABLE ECONOMIC GROWTH ACROSS LANCASTER COUNTY. THE FOUNDATION ALSO BEGAN TANDEM ON 11/29/23 WHICH OFFERS PATHWAYS FOR BUSINESS SUCCESS THROUGH PROFIT SHARING AND DIRECT EMPLOYEE OWNERSHIP THAT LEADS TO SHARED PROSPERITY AND STRONGER COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donna Kresier Chair Elect(1/23-6/23)/chair | OfficerTrustee | 0.5 | $0 |
J Seroky Chair(1/23-6/23)/past Chair | OfficerTrustee | 0.5 | $0 |
Robert C Shoemaker Chair (until 5/23) | OfficerTrustee | 0.5 | $0 |
Joanne Judge Vice Chair (until 5/23) | OfficerTrustee | 0.5 | $0 |
Eric Wenger Treasurer | OfficerTrustee | 0.5 | $0 |
Alex Brame Treasurer (until 10/23) | OfficerTrustee | 0.5 | $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 | $129,677 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $129,677 |
| Total Program Service Revenue | $0 |
| Investment income | $1,279 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $30,940 |
| 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 | $161,896 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $43,502 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,348 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,000 |
| Advertising and promotion | $0 |
| Office expenses | $450 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $409,271 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $532,491 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $45,527 |
| Savings and temporary cash investments | $325,509 |
| Pledges and grants receivable | $394 |
| 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 | $5,321,780 |
| Investments—publicly traded securities | $153,059 |
| Investments—other securities | $6,216,373 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,062,642 |
| Accounts payable and accrued expenses | $9,209 |
| Grants payable | $0 |
| Deferred revenue | $81,814 |
| 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 | $8,453,565 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $8,544,588 |
| Net assets without donor restrictions | $3,407,429 |
| Net assets with donor restrictions | $110,625 |
| 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 | $12,062,642 |