Greater Springfield Chamber Of Commerce
- Assets
- $713.3k
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 16
- Location
- Springfield, OH
- Founding
- 08/1964
- Data as of
- 12/2021
- EIN
- 31-0452610
Organization Overview
Greater Springfield Chamber Of Commerce is located in Springfield, OH. The organization was established in 1964. 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, Greater Springfield Chamber Of Commerce employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Springfield 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 12/2021, Greater Springfield Chamber Of Commerce generated $2.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $1.9m during the year ending 12/2021. While expenses have increased by 5.1% 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
PART III, LINE 1 - TO ADVANCE IMPORTANT ECONOMIC DEVELOPMENT OPPORTUNITIES AND ISSUES, TO HELP OUR MEMBERS GROW THEIR BUSINESSES BY DELIVERING OUTSTANDING OPPORTUNITIES, TO CONNECT WITH EACH OTHER AND THE BROADER COMMUNITY AND TO PARTNER WTIH OTHER ORGANIZATIONS AND WORK COOPERATIVELY WITH GOVERNMENT, NON-PROFIT AND COMMUNITY SECTORS TO PROMOTE GROUND- BREAKING IDEAS THAT WILL MAKE GREATER SPRINGFIELD, OHIO PROGRESSIVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ADVANCE IMPORTANT ECONOMIC DEVELOPMENT OPPORTUNITIES AND ISSUES, TO HELP OUR MEMBERS GROW THEIR BUSINESSES BY DELIVERING OUTSTANDING OPPORTUNITIES, TO CONNECT WITH EACH OTHER AND THE BROADER COMMUNITY AND TO PARTNER WITH OTHER ORGANIZATIONS AND WORK COOPERATIVELY WITH GOVERNMENT, NON-PROFIT AND COMMUNITY SECTORS TO PROMOTE GROUND-BREAKING IDEAS THAT WILL MAKE GREATER SPRINGFIELD, OHIO PROGRESSIVE.
SAFETY COUNCIL IS A PROGRAM OFFERED IN CONJUNCTION WITH THE OHIO BUREAU OF WORKERS' COMPENSATION DESIGNED TO INCREASE SAFETY AWARENESS IN THE WORKPLACE. ALL MEMBERS WHO BELONG TO THE SAFETY COUNCIL AND ATTEND A MINIMUM REQUIRED NUMBER OF MONTHLY MEETINGS WILL RECEIVE REDUCED WORKERS' COMP RATES. THE CHAMBER IS THE SPONSORING ENTITY FOR THE COUNCIL AND PROVIDES ACCOUNTING AND SUPPORT SERVICES FOR THE COUNCIL. APPROXIMATELY 275 MEMBERS ARE INVOLVED IN THE SAFETY COUNCIL. MEETINGS ARE HELD ON THE 3RD TUESDAY OF EACH MONTH.
CHAMBER NIGHT OUT IS AN INFORMAL NETWORKING OPPORTUNITY FOR MEMBERS. COST TO MEMBERS IS USUALLY 15 PER PERSON. DRINKS AND APPETIZERS ARE PROVIDED BY THE CHAMBER. THESE ARE NORMALLY HELD ON A QUARTERLY BASIS AT A MEMBER'S LOCATION. ON AVERAGE, ABOUT 200 MEMBERS PARTICIPATE IN THESE EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Mcdorman President | Officer | 40 | $232,500 |
Tom Sothard Past Chair | Officer | 1 | $0 |
John Mckinnon III Vice Chair | Trustee | 1 | $0 |
Daren Cotter Sec/ Treasur | Trustee | 1 | $0 |
Sunny Dhingra Chair | Trustee | 1 | $0 |
Arlin J Tolliver Sr Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $387,906 |
| Fundraising events | $650 |
| Related organizations | $0 |
| Government grants | $4,950 |
| All other contributions, gifts, grants, and similar amounts not included above | $56,250 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $449,756 |
| Total Program Service Revenue | $94,865 |
| Investment income | $127 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $6,000 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $9,363 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $46,356 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,014,403 |
| 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. | $271,985 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $874,171 |
| Pension plan accruals and contributions | $73,888 |
| Other employee benefits | $105,412 |
| Payroll taxes | $89,356 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,225 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $31,649 |
| Advertising and promotion | $30,045 |
| Office expenses | $35,663 |
| Information technology | $31,720 |
| Royalties | $0 |
| Occupancy | $131,683 |
| Travel | $19,382 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,528 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,504 |
| Insurance | $13,148 |
| All other expenses | $82,777 |
| Total functional expenses | $1,934,296 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $354,643 |
| Savings and temporary cash investments | $7,776 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $273,836 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $18,860 |
| Prepaid expenses and deferred charges | $10,621 |
| Net Land, buildings, and equipment | $47,567 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $713,303 |
| Accounts payable and accrued expenses | $278,060 |
| Grants payable | $0 |
| Deferred revenue | $123,937 |
| 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 | $401,997 |
| Net assets without donor restrictions | $311,306 |
| 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 | $713,303 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Greater Springfield Chamber Of Commerce has recieved totaling $22,500.
| Awarding Organization | Amount |
|---|---|
Park National Bank Foundation Park National Bank Newark, OH PURPOSE: SUPPORT | $22,500 |
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 |
Ann Arbor Spark Ann Arbor, MI | $15,665,812 | $11,784,140 |
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 |
Indiana Chamber Of Commerce Inc Indianapolis, IN | $7,894,910 | $10,261,881 |
Greater Indianapolis Chamber Of Commerce Inc Indianapolis, IN | $15,080,070 | $11,498,115 |
Small Business Assoc Of Mich Lansing, MI | $1,798,183 | $7,497,354 |
Ohio Association Of Realtors Columbus, OH | $13,314,743 | $8,037,922 |
Ohio Chamber Of Commerce Columbus, OH | $30,926,421 | $7,246,853 |
Indiana Association Of Realtors Inc Indianapolis, IN | $16,694,252 | $6,642,922 |
Louisville Chamber Of Commerce Inc Louisville, KY | $4,510,911 | $5,726,033 |