Middletown Area Chamber Foundation
- Assets
- $253.0k
- Revenue
- $262.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Middletown, OH
- Founding
- 02/1973
- Data as of
- 12/2022
- EIN
- 23-7249021
Organization Overview
Middletown Area Chamber Foundation is located in Middletown, OH. The organization was established in 1973. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Middletown Area Chamber Foundation 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 12/2022, Middletown Area Chamber Foundation generated $262.7k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $172.0k during the year ending 12/2022. 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
THE OHIO CHALLENGE IS THE ANNUAL HOT-AIR BALLOON FESTIVAL FROM WHICH PROCEEDS ARE DIRECTED BY THEIR BOARD OF DIRECTORS TOWARDS SCHOLARSHIPS AND OTHER WORTHWHILE CHARITABLE PURPOSES
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE OHIO CHALLENGE IS THE ANNUAL HOT-AIR BALLOON FESTIVAL FROM WHICH PROCEEDS ARE DIRECTED BY THEIR BOARD OF DIRECTORS TOWARDS SCHOLARSHIPS AND OTHER WORTHWHILE CHARITABLE PURPOSES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry Powell Officer | Officer | 0 | $0 |
Rick Pearce Officer | Officer | 0 | $0 |
Larry Mulligan Officer | Trustee | 0 | $0 |
David Pearce President | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $153,295 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $153,295 |
| Total Program Service Revenue | $100,812 |
| Investment income | $63 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $8,486 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $262,656 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $17,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $26,662 |
| Advertising and promotion | $25,231 |
| Office expenses | $1,260 |
| Information technology | $26,970 |
| Royalties | $0 |
| Occupancy | $31,830 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,384 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,179 |
| All other expenses | $10,988 |
| Total functional expenses | $171,955 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $253,036 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $253,036 |
| 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 | $253,036 |
| 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 | $253,036 |
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|---|---|---|
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Oberkotter Foundation Philadelphia, PA | $83,021,123 | $23,009,013 |
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Pnc Foundation Pittsburgh, PA | $218,373,148 | $3,451,991 |
Sarah Scaife Foundation Inc Pittsburgh, PA | $645,014,499 | $79,121,296 |
J Howard Pew Freedom Tr Philadelphia, PA | $675,828,558 | $64,346,772 |
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The Meijer Foundation Grand Rapids, MI | $118,103,895 | $43,970,388 |
Nationwide Foundation Columbus, OH | $86,187,581 | $42,470,606 |
Dietrich Foundation Pittsburgh, PA | $1,425,693,584 | $93,476,192 |
Ford Motor Co Fund Dearborn, MI | $173,752,828 | $51,364,996 |
Farmer Family Foundation Cincinnati, OH | $165,004,074 | $63,392,827 |