Scranton Chamber Of Commerce
- Assets
- $3.7m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 27
- Location
- Scranton, PA
- Founding
- 11/1942
- Data as of
- 06/2022
- EIN
- 24-0716460
Organization Overview
Scranton Chamber Of Commerce is located in Scranton, PA. The organization was established in 1942. 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 06/2022, Scranton Chamber Of Commerce employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Scranton 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 06/2022, Scranton Chamber Of Commerce generated $3.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $2.8m during the year ending 06/2022. 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 ORGANIZATION PROMOTES BUSINESS INTERESTS AND ECONOMIC AND WORKFORCE DEVELOPMENT IN THE GREATER SCRANTON AREA OF LACKAWANNA COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTES BUSINESS INTERESTS AND ECONOMIC AND WORKFORCE DEVELOPMENT IN THE GREATER SCRANTON AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert F Durkin President | OfficerTrustee | 40 | $271,281 |
Mari R Potis Director Of Membership And | 40 | $107,791 | |
James F Coleman Vice President Of Finance | 40 | $107,450 | |
Kristine L Augustine Vice President Of Development | 40 | $103,390 | |
Deborah A Kolsovsky Board Chair | OfficerTrustee | 1 | $0 |
Patrick A Fricchione Jr Immediate Past Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $27,990 |
| Government grants | $363,730 |
| All other contributions, gifts, grants, and similar amounts not included above | $336,423 |
| Noncash contributions included in lines 1a–1f | $87,382 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $728,143 |
| Total Program Service Revenue | $1,060,479 |
| Investment income | $31,906 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $12,840 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,006,087 |
| 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 | $1,537,128 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $392,257 |
| Payroll taxes | $113,677 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,163 |
| Fees for services: Other | $42,570 |
| Advertising and promotion | $0 |
| Office expenses | $37,486 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $127,935 |
| Travel | $3,097 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $19,394 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,789 |
| Insurance | $8,838 |
| All other expenses | $23,033 |
| Total functional expenses | $2,808,466 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $227,642 |
| Savings and temporary cash investments | $1,605,394 |
| Pledges and grants receivable | $412,549 |
| Accounts receivable, net | $20,495 |
| 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 | $80,513 |
| Net Land, buildings, and equipment | $36,111 |
| Investments—publicly traded securities | $844,318 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $493,931 |
| Total assets | $3,720,953 |
| Accounts payable and accrued expenses | $262,908 |
| Grants payable | $0 |
| Deferred revenue | $256,965 |
| 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 | $47,088 |
| Total liabilities | $566,961 |
| Net assets without donor restrictions | $2,738,943 |
| Net assets with donor restrictions | $415,049 |
| 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 | $3,720,953 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Scranton Chamber Of Commerce has recieved totaling $6,000.
| Awarding Organization | Amount |
|---|---|
Neighborhood Development Trust Fund Chamber Of Commerce Bldg Pittsburgh, PA PURPOSE: THE SCRANTON PLAN | $6,000 |
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 |