Lancaster Chamber Of Commerce And Industry
- Assets
- $2.8m
- Revenue
- $2.7m
- Investments
- $1.0k
- Employees
- 27
- Location
- Lancaster, PA
- Founding
- 05/1979
- Data as of
- 12/2021
- 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 12/2021, Lancaster Chamber Of Commerce And Industry employed 27 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 12/2021, Lancaster Chamber Of Commerce And Industry generated $2.7m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.9%) each year. All expenses for the organization totaled $2.5m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.8%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
BUILD ITS COMMUNITY INTO A MODEL OF PROSPERITY USING THREE CORE STRATEGIES: LEAD, CONNECT, INNOVATE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FROM START-UP BUSINESSES TO ESTABLISHED FIRMS LOOKING TO GROW, THE CHAMBER'S CONNECTION PROGRAMS BENEFIT EACH OF OUR MEMBER ORGANIZATIONS. THERE WERE 5,219 UNIQUE PARTICIPANTS BENEFITTING FROM CHAMBER'S 115 EVENTS AND PROGRAMS, INCLUDING MONTHLY MIXERS TO ANNUAL EVENTS. THESE PROGRAMS COMBINE WITH ADVERTISING AND MARKETING OPPORTUNITIES TO GROW MEMBER COMPANIES' BUSINESSES. WITH THE SECOND PANDEMIC YEAR, THE CHAMBER CONTINUED TO UTILIZE VIRTUAL ON-LINE EVENTS THROUGHOUT THE YEAR. THE CHAMBER HELPED MANAGE SEVERAL GRANT PROGRAMS THAT HELPED CONTINUED BUSINESS RECOVERY FROM THE PANDEMIC YEARS. THE CHAMBER HELD 16 HOURS OF COVID-19 WEBINARS OFFERED TO ALL BUSINESSES AND WAS THE GO-TO RESOURCE FOR ONLINE COVID INFORMATION FOR THE COUNTY. OUR ANNUAL DINNER EXPERIENCE COMBINED BOTH AN IN-PERSON EXPERIENCE WITH VIRTUAL OPTIONS, SERVING OVER 4,500 PARTICIPANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas T Baldrige President & CEO | OfficerTrustee | 39 | $242,183 |
Steven Progin Finance Director | Officer | 38 | $85,493 |
Scott Fiore Chair | OfficerTrustee | 10 | $0 |
Andy Dula Secretary/treasurer | OfficerTrustee | 6 | $0 |
Michelle Rondinelli Past Chair | Trustee | 10 | $0 |
John Seroky Chair- Elect | Trustee | 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 | $0 |
| Related organizations | $46,900 |
| Government grants | $335,730 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $382,630 |
| Total Program Service Revenue | $2,055,977 |
| Investment income | $12,482 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $37,571 |
| 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 | $2,692,826 |
| 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. | $279,128 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $737,667 |
| Pension plan accruals and contributions | $45,860 |
| Other employee benefits | $122,196 |
| Payroll taxes | $76,780 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $89,581 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $115,141 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $18,732 |
| Advertising and promotion | $44,400 |
| Office expenses | $134,196 |
| Information technology | $187,257 |
| Royalties | $0 |
| Occupancy | $215,569 |
| Travel | $21,256 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,228 |
| Interest | $4,483 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $27,455 |
| Insurance | $18,769 |
| All other expenses | $0 |
| Total functional expenses | $2,469,470 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $402 |
| Savings and temporary cash investments | $492,499 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $156,189 |
| 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 | $139,749 |
| Net Land, buildings, and equipment | $1,136,239 |
| Investments—publicly traded securities | $856,908 |
| Investments—other securities | $1,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,782,986 |
| Accounts payable and accrued expenses | $74,186 |
| Grants payable | $0 |
| Deferred revenue | $228,704 |
| 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 | $400,000 |
| Other liabilities | $477,783 |
| Total liabilities | $1,180,673 |
| Net assets without donor restrictions | $1,602,313 |
| 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 | $2,782,986 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lancaster Chamber Of Commerce And Industry has recieved totaling $8,230.
| Awarding Organization | Amount |
|---|---|
Lancaster County Community Foundation Lancaster, PA PURPOSE: DESIGNATED FOR GENERAL OPERATING SUPPORT | $8,230 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cincinnati Usa Regional Chamber Cincinnati, OH | $21,203,474 | $18,734,397 |
Greater Columbus Convention & Visitors Bureau Columbus, OH | $8,565,444 | $15,584,006 |
Real Estate Board Of New York Inc New York, NY | $13,608,943 | $14,285,773 |
Philadelphia Convention & Visitors Bureau Of The Chamber Of Commerce Philadelphia, PA | $21,636,489 | $20,955,897 |
The Chamber Of Commerce For Greater Philadelphia Philadelphia, PA | $17,253,411 | $11,743,354 |
United States Council For International Business New York, NY | $8,377,861 | $9,810,410 |
New Jersey Association Of Realtors Trenton, NJ | $35,262,029 | $9,547,353 |
Long Island Board Of Realtors Inc West Babylon, NY | $32,824,680 | $7,922,994 |
Ohio Association Of Realtors Columbus, OH | $13,314,743 | $8,037,922 |
Ohio Chamber Of Commerce Columbus, OH | $30,926,421 | $7,246,853 |
German American Chamber Of Commerce Inc New York, NY | $3,820,432 | $6,890,973 |
Buffalo Niagara Convention & Vistors Bureau Inc Buffalo, NY | $3,394,435 | $6,164,269 |