Lancaster Chamber Of Commerce And Industry
- Assets
- $4.1m
- Revenue
- $2.5m
- Investments
- $1.0k
- Employees
- 30
- Location
- Lancaster, PA
- Founding
- 05/1979
- Data as of
- 12/2022
- EIN
- 23-2095463
Organization Overview
Lancaster Chamber Of Commerce And Industry is located in Lancaster, PA. The organization was established in 1979. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Lancaster Chamber Of Commerce And Industry employed 30 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lancaster Chamber Of Commerce And Industry 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 12/2022, Lancaster Chamber Of Commerce And Industry generated $2.5m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.7%) each year. All expenses for the organization totaled $2.4m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (2.9%) per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
CREATE THE ENVIRONMENT, FACILITATE PARTNERSHIPS, AND LEAD ON ISSUES THAT ELEVATE BUSINESS SUCCESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2022 THE CHAMBER CELEBRATED ITS 150TH ANNIVERSARY. DURING THE YEAR WE LOOKED BACK AT 114 HISTORICAL MILESTONES AND HAD 2,945 VISITS TO OUR 150TH HISTORICAL BUSINESS TIMELINE. WE HAD 2,400 ATTENDEES ENGAGE WITH US AT OUR THREE ANNIVERSARY CELEBRATION EVENTS. WE ALSO HAD 273,984 IMPRESSIONS ON OUR 150TH SOCIAL MEDIA CONTENT. AS WE WERE CELEBRATING OUR LOCAL BUSINESS HISTORY WE ALSO WERE ACTIVELY INVOLVED WITH OUR MEMBERSHIP AND THE BUSINESS COMMUNITY. WE CONNECTED 65 DISPLACED WORKERS WITH 16 LOCAL BUSINESS FOR EMPLOYMENT AND PRESENTED 90 SPEAKERS TO OUR COMMUNITY, 50 OF THEM WERE WOMEN AND 24% REPRESENTED MINORITY GROUPS. 8,932 UNIQUE ATTENDEES ENGAGED WITH THE CHAMBER AT 133 EVENTS. WE CELEBRATED 28 BUSINESS GRAND OPENINGS, ANNIVERSARIES & NEW LOCATIONS WITH RIBBON CUTTINGS. TEN MINORITY BUSINESS ENTREPRENEURS PARTICIPATED IN THE INAUGURAL WORDS INTO ACTION: UNDERREPRESENTED BUSINESS PARTNERSHIP. 179 NEW MEMBERS JOINED THE CHAMBER NETWORK OF BUSINESSES AND ORGANIZTIONS LOOKING TO CONNECT AND MAKE A SUSTAINABLE IMPACT ON THE FUTURE OF OUR COUNTY. WE PROVIDED TRAINING TO 688 EMPLOYEES THROUGH OUR 23 PROFESSIONAL DEVELOPMENT OFFERINGS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas T Baldrige President & CEO (until 6/22) | OfficerTrustee | 36.25 | $138,339 |
Scott Fiore Past Chair | Trustee | 10 | $0 |
John Seroky Chair | OfficerTrustee | 10 | $0 |
Andy Dula Secretary/treasurer | OfficerTrustee | 6 | $0 |
Dr Daniel A Wubah Board Member | Trustee | 3 | $0 |
Donna Kreiser Officer At Large | OfficerTrustee | 6 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Structure Care Construction | 12/30/21 | $406,600 |
Ascension Technology Solutions Computer Services | 12/30/21 | $117,299 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $281,000 |
| Related organizations | $69,432 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $236,300 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $586,732 |
| Total Program Service Revenue | $1,724,866 |
| Investment income | $21,853 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $64,600 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$8,176 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,471,476 |
| 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. | $505,441 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $611,225 |
| Pension plan accruals and contributions | $31,052 |
| Other employee benefits | $43,228 |
| Payroll taxes | $84,529 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $42,405 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $124,424 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $37,313 |
| Advertising and promotion | $46,241 |
| Office expenses | $94,000 |
| Information technology | $140,273 |
| Royalties | $0 |
| Occupancy | $236,567 |
| Travel | $21,444 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $33,369 |
| Interest | $14,248 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $90,800 |
| Insurance | $20,301 |
| All other expenses | $0 |
| Total functional expenses | $2,379,896 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $529 |
| Savings and temporary cash investments | $538,352 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,332 |
| 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 | $103,018 |
| Net Land, buildings, and equipment | $1,080,217 |
| Investments—publicly traded securities | $842,973 |
| Investments—other securities | $1,000 |
| Investments—program-related | $0 |
| Intangible assets | $1,485,689 |
| Other assets | $0 |
| Total assets | $4,067,110 |
| Accounts payable and accrued expenses | $129,149 |
| Grants payable | $0 |
| Deferred revenue | $23,440 |
| 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 | $330,160 |
| Other liabilities | $1,926,256 |
| Total liabilities | $2,409,005 |
| Net assets without donor restrictions | $1,658,105 |
| 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 | $4,067,110 |