Greater Cincinnati African American Chamber Of Commerce
- Assets
- $181.8k
- Revenue
- $838.3k
- Investments
- $0.0
- Employees
- 9
- Location
- Cincinnati, OH
- Founding
- 08/1997
- Data as of
- 12/2018
- EIN
- 31-1504758
Organization Overview
Greater Cincinnati African American Chamber Of Commerce is located in Cincinnati, OH. The organization was established in 1997. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2018, Greater Cincinnati African American Chamber Of Commerce employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Cincinnati African American 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 12/2018, Greater Cincinnati African American Chamber Of Commerce generated $838.3k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $826.8k during the year ending 12/2018. While expenses have increased by 5.8% per year over the past 4 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
2018
Describe the Organization's Mission:
Part 3 - Line 1
THE AFRICAN AMERICAN CHAMBER'S MISSION IS TO ESTABLISH, CULTIVATE, AND STRENGTHEN CONSUMER AND BUSINESS RELATIONSHIPS; PROVIDE ACCESS TO MAJOR CORPORATE MARKETS FOR OUR MEMBERS TO HELP INCREASE BUSINESS OPPORTUNITIES; AND ASSIST IN DEVELOPING STRATEGIC PARTNERSHIPS AND ALLIANCES
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MINORITY BUSINESS ASSISTANCE CENTER(MBAC) PROVIDES A PLATFORM OF TECHNICAL ASSISTANCE TARGETED AT START-UP AND EMERGING BUSINESSES. THROUGH ASSISTANCE IN CERTIFICATION, BUSINESS PLANS, FINANCIAL STRATEGIES, AND PROCUREMENT, THE PROGRAM ESTABLISHES A STRONG FOUNDATION FOR BUSINESS GROWTH.IN 2018, THE MBAC PROGRAM ACHIEVED THE FOLLOWING SUCCESSES: BUSINESS SUPPORT AND TRAINING FOR START-UPS TRAINING ATTENDEES - BUSINESS PLAN DEVELOPED - CONFERENCES AND EVENTS SPONSORED - 12 MBE CERTIFICATIONS - 105 EDGE CERTIFICATIONS - 108
THE CITY CONTRACT SUPPORTS MONTHLY NETWORKING AFTER HOURS TO PAY FOR A PRESENTER AND AACC ORGANIZATIONAL TIME, WHICH AVERAGE 25 PARTICIPANTS. IT ALSO SUPPORTS THE SUDDUTH PROGRAM,WHICH HAD 2 CLASSES WITH AVERAGE 10 PARTICIPANTS DURING THE YEAR. THE SUDDUTH PROGRAM IS A AN ADVANCED BUSINESS DEVELOPMENT PLATFORM FOR HIGH POTENTIAL MINORITY BUSINESSES. SUDDUTH PARTICIPANTS HONE THEIR BUSINESS SKILLS THROUGH EDUCATIONAL DISCUSSIONS WITH INDUSTRY EXPERTS TO ENHANCE SKILLS AND INCREASE THE BUSINESS OWNER'S ABILITY TO MEET THE DEMANDS OF LARGER CLIENTS AND SUSTAINING GROWTH. CITY FUNDS ALSO SUPPORTS THE WEEKLY RISE TO SHINE RADIO PROGRAM. DURING CALENDAR YEAR, ___CLIENTS WERE COUNSELED/COACHED, 1,484 ATTENDED TRAINING SESSIONS,--- NEW JOBS WERE DEVELOPED, AND ---RETAINED. AACC HELPED MINORITY BUSINESS OWNERS OBTAIN NEW BUSINESSES, TOTALLING $30,000 DURING 2017.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Kearney President/ceo | Officer | 40 | $106,681 |
John Moore Treasurer And Chair Emeritus | Officer | 2 | $0 |
Regan N Schmidt ESQ Secretary | Officer | 1 | $0 |
Larissa England Vice Chair | Officer | 1 | $0 |
Jason Dunn Board Member | Trustee | 1 | $0 |
Donyetta Bailey ESQ Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $182,421 |
| Fundraising events | $87,510 |
| Related organizations | $0 |
| Government grants | $502,408 |
| All other contributions, gifts, grants, and similar amounts not included above | $65,978 |
| Noncash contributions included in lines 1a–1f | $2,693 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $838,317 |
| Total Program Service Revenue | $0 |
| Investment income | $23 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $838,340 |
| 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. | $345,988 |
| Compensation of current officers, directors, key employees. | $48,623 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $49,188 |
| Payroll taxes | $32,624 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,047 |
| Fees for services: Accounting | $35,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,669 |
| Advertising and promotion | $29,341 |
| Office expenses | $2,094 |
| Information technology | $21,576 |
| Royalties | $0 |
| Occupancy | $31,982 |
| Travel | $3,547 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,156 |
| Interest | $12,327 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,778 |
| Insurance | $1,755 |
| All other expenses | $26,270 |
| Total functional expenses | $826,774 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $51,032 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $67,446 |
| 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 | $62,389 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $947 |
| Total assets | $181,814 |
| Accounts payable and accrued expenses | $33,697 |
| Grants payable | $0 |
| Deferred revenue | $67,457 |
| 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 | $75,896 |
| Unsecured mortgages and notes payable | $11,706 |
| Other liabilities | $37,510 |
| Total liabilities | $226,266 |
| Unrestricted restricted net Assets | -$20,592 |
| Temporarily restricted net Assets | -$23,860 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | -$44,452 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Greater Cincinnati African American Chamber Of Commerce has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
Fc Cincinnati Foundation Cincinnati, OH PURPOSE: WEST END COMMUNITY BUILDING | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Society Of Manufacturing Engineers Southfield, MI | $77,116,365 | $66,156,404 |
Regional Industrial Development Corporation Of Sw Pa Pittsburgh, PA | $178,323,730 | $33,758,702 |
Leap Lansing, MI | $5,631,252 | $15,493,708 |
Greater Cleveland Partnership Cleveland, OH | $36,035,820 | $14,402,868 |
Philadelphia Industrial Development Corp Philadelphia, PA | $40,435,799 | $13,493,986 |
Board Of Certified Safety Professionals Of The Americas Inc Indianapolis, IN | $35,079,358 | $17,695,377 |
The Right Place Inc Grand Rapids, MI | $10,135,241 | $14,178,677 |
Pocono Mountains Vacation Bureau Inc Stroudsburg, PA | $11,737,684 | $15,325,542 |
Central Indiana Corporate Partnership Inc Indianapolis, IN | $8,694,724 | $11,696,503 |
National Kitchen & Bath Assoc Bethlehem, PA | $28,104,693 | $9,331,415 |
Automotive Industry Action Group Southfield, MI | $14,204,782 | $10,849,803 |
Detroit Regional Chamber Foundation Inc Detroit, MI | $6,324,468 | $12,985,195 |