Damariscotta Region Chamber Of Commerce
- Assets
- $602.3k
- Revenue
- $526.3k
- Investments
- $0.0
- Employees
- 2
- Location
- Damariscotta, ME
- Founding
- 02/1987
- Data as of
- 12/2023
- EIN
- 22-2769394
Organization Overview
Damariscotta Region Chamber Of Commerce is located in Damariscotta, ME. The organization was established in 1987. 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, Damariscotta Region Chamber Of Commerce employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Damariscotta Region 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, Damariscotta Region Chamber Of Commerce generated $526.3k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 35.3% each year . All expenses for the organization totaled $104.0k during the year ending 12/2023. While expenses have increased by 9.0% per year over the past 6 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
PROMOTE THE DAMARISCOTTA REGION
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE ATTACHED STATEMENT
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry Sidelinger Director & President | OfficerTrustee | 1 | $0 |
Jane Gravel Director & VP | OfficerTrustee | 1 | $0 |
Heather D'ippolito Director & Secretary | OfficerTrustee | 1 | $0 |
Wayne Farrin Director & Treasurer | OfficerTrustee | 1 | $0 |
Seth Hagar Director | Trustee | 1 | $0 |
Scott Mccartle Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $45,984 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $434,907 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $480,891 |
| Total Program Service Revenue | $38,368 |
| Investment income | $2 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $7,058 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $526,319 |
| 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 | $43,932 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,439 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $235 |
| Fees for services: Accounting | $1,080 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,397 |
| Advertising and promotion | $2,611 |
| Office expenses | $7,073 |
| Information technology | $3,227 |
| Royalties | $0 |
| Occupancy | $6,670 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,202 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,911 |
| Insurance | $3,192 |
| All other expenses | $3,370 |
| Total functional expenses | $103,982 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $31,963 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $53,333 |
| Accounts receivable, net | $6,659 |
| 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 | $510,377 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $602,332 |
| Accounts payable and accrued expenses | $487 |
| 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 | $140,410 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $140,897 |
| Net assets without donor restrictions | $0 |
| 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 | $461,435 |
| Total liabilities and net assets/fund balances | $602,332 |