Chamber Of Commerce Ocean City
- Assets
- $471.6k
- Revenue
- $436.2k
- Investments
- $0.0
- Employees
- 9
- Location
- Ocean City, NJ
- Founding
- 10/1992
- Data as of
- 12/2021
- EIN
- 22-2810508
Organization Overview
Chamber Of Commerce Ocean City is located in Ocean City, NJ. The organization was established in 1992. 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 12/2021, Chamber Of Commerce Ocean City employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chamber Of Commerce Ocean City 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 12/2021, Chamber Of Commerce Ocean City generated $436.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $451.4k during the year ending 12/2021. While expenses have increased by 0.7% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
ADVOCATE FOR BUSINESS COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO BE AN ADVOCATE FOR THE OCEAN CITY BUSINESS COMMUNITY, FOSTER PROGRAMS TO BENEFIT BUSINESS MEMBERS IN OCEAN CITY AND THE SURROUNDING COMMUNITIES, PROVIDE SPEAKERS, DISSEMINATE INFORMATION, AND ASSIST IN THE GENERAL PROMOTION OF OCEAN CITY COMMERCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michelle Gillian Executive Direc | Trustee | 40 | $75,823 |
William Mcmahon III 2nd VP | Officer | 1 | $0 |
Tom Aromando 2nd Vice Presid | Officer | 1 | $0 |
Cricket Frank 2nd VP | Officer | 1 | $0 |
Janet Galante 1st VP | Officer | 1 | $0 |
David Allegretto President | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $60,965 |
| All other contributions, gifts, grants, and similar amounts not included above | $15,585 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $76,550 |
| Total Program Service Revenue | $313,349 |
| Investment income | $76 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $46,214 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $436,189 |
| 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. | $75,823 |
| Compensation of current officers, directors, key employees. | $37,911 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $182,596 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $21,966 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,556 |
| Office expenses | $8,276 |
| 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 | $0 |
| Insurance | $13,939 |
| All other expenses | $13,508 |
| Total functional expenses | $451,393 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $471,072 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $121 |
| 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 | $380 |
| Total assets | $471,573 |
| 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 | $471,573 |
| 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 | $471,573 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Chamber Of Commerce Ocean City has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
The Mckenna Family Foundation Jensen Beach, FL PURPOSE: CHARITABLE | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nysa-Ila Container Royalty Fund Jersey City, NJ | $55,480,172 | $104,394,382 |
Unsatisfied Claims & Judgement Fund Basking Ridge, NJ | $69,007,782 | $67,404,449 |
Gs1 Us Inc Ewing, NJ | $478,037,755 | $93,863,501 |
International Swaps And Derivatives Association Inc New York, NY | $118,665,756 | $65,806,525 |
Association Of National Advertisers Inc New York, NY | $38,717,598 | $50,547,394 |
Global Associations Of Risk Proffesionals Inc Jersey City, NJ | $66,882,119 | $55,059,565 |
Natural Diamond Council Usa Inc New York, NY | $2,361,726 | $45,450,043 |
Better Health For Northeast New York Inc Albany, NY | $1,699,036 | $0 |
Hamaspik Of Orange County Inc Monroe, NY | $56,250,916 | $69,931,985 |
International Council Of Shopping Centers Inc New York, NY | $167,282,013 | $15,292,706 |
Housing Works Inc Brooklyn, NY | $30,231,683 | $31,989,444 |
Workers Compensation Security Fund Basking Ridge, NJ | $229,766,675 | $28,644,741 |