Greater Indianapolis Chamber Of Commerce Inc
- Assets
- $15.5m
- Revenue
- $10.0m
- Investments
- $0.0
- Employees
- 74
- Location
- Indianapolis, IN
- Founding
- 05/1919
- Data as of
- 12/2022
- EIN
- 35-0412920
Organization Overview
Greater Indianapolis Chamber Of Commerce Inc, operating under the name Indy Chamber Inc, is located in Indianapolis, IN. The organization was established in 1919. 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 12/2022, Indy Chamber Inc employed 74 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Indy Chamber Inc 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 12/2022, Indy Chamber Inc generated $10.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $10.6m during the year ending 12/2022. While expenses have increased by 3.4% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO CREATE ADVANTAGES FOR BUSINESSES WITHIN THE INDIANAPOLIS AREA BY PROMOTING INITIATIVES WHICH ENHANCE BUSINESS, AND TO DELIVER PRODUCTS AND SERVICES WHICH ANTICIPATE, MEET OR EXCEED THE NEEDS OF MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBERSHIP: THE INDY CHAMBER CONTINUES TO SERVE AS A VOICE OF PROGRESS AND IMPROVEMENT IN THE REGION, UNITING BUSINESS AND COMMUNITY TO IMPROVE THE QUALITY OF LIFE FOR RESIDENTS. OUR ADVOCACY EFFORTS, NETWORKING EVENTS, EDUCATIONAL OFFERINGS AND EXCLUSIVE SAVINGS PROGRAMS POSITION MEMBERS, BUSINESS LEADERS, AND THE COMMUNITY FOR SUCCESS. WE ARE COMMITTED TO MOVING INDIANAPOLIS INTO THE 21ST CENTURY, WHILE MAKING INDIANAPOLIS THE BEST PLACE TO LIVE AND DO BUSINESS. THE CHAMBER SERVES NEARLY 2,000 MEMBERS, REPRESENTING APPROXIMATELY 230,000 EMPLOYEES IN CENTRAL INDIANA, WITH MEMBER EVENTS, SEMINARS, INTERCITY VISITS, AND DATA TO HELP THE MEMBERS ENHANCE THEIR COMPETITIVENESS IN THE INDIANAPOLIS COMMUNITY. THE CHAMBER SPONSORS AND HOSTS EVENTS THROUGHOUT THE YEAR THAT SUPPORT THE INDIANAPOLIS ECONOMIC COMMUNITY. BOTH THE CHAMBER & COMMUNITY MEMBERS ARE WELCOME AT THESE EVENTS.
BUSINESS ADVOCACY: THE CHAMBER IS LEADING THE EFFORT TO STRENGTHEN THE BUSINESS CLIMATE, IMPROVE THE STATE OF EDUCATION, REVITALIZE NEIGHBORHOODS AND ENHANCE THE REGION'S WORKFORCE. THE CHAMBER ADVOCATES AND LOBBIES ON BEHALF OF THE CENTRAL INDIANA BUSINESS COMMUNITY REGARDING ISSUES THAT AFFECT PRIVATE INDUSTRY WITH THE GOAL OF MAKING INDIANAPOLIS THE BEST PLACE TO LIVE AND DO BUSINESS. ISSUES INCLUDE WORKFORCE DEVELOPMENT, EDUCATION REFORM, TRANSIT, ECONOMIC DEVELOPMENT AND SUSTAINABILITY, AND INFRASTRUCTURE IMPROVEMENTS.
ECONOMIC DEVELOPMENT: THE CHAMBER CREATES SYNERGIES FOR THE CONTINUED ECONOMIC DEVELOPMENT OF INDIANAPOLIS. THESE PROGRAMS PROMOTE THE COMMON INTERESTS OF BUSINESSES AND IMPROVE GENERAL BUSINESS CONDITIONS BY PROMOTING, ENCOURAGING AND AIDING THE FORMATION, OPERATION, AND EXPANSION OF NUMEROUS TYPES OF BUSINESSES, AND TO DEVELOP AND ADMINISTER PROGRAMS TO ENCOURAGE EMPLOYERS TO LOCATE AND REMAIN IN THE GREATER INDIANAPOLIS AREA. THE FOCUS IS TO STRATEGICALLY MAXIMIZE PRIVATE SECTOR INVESTMENT, TO DRIVE ECONOMIC DEVELOPMENT AND PROSPERITY FOR THE GREATER INDIANAPOLIS REGION BY CREATING AN ENVIRONMENT OF GROWTH, INVESTMENT AND ENHANCED QUALITY OF LIFE, AND TO WORK TOWARD MAKING INDIANAPOLIS A GLOBAL HUB FOR SMART BUSINESS AND A COMMUNITY OF THRIVING NEIGHBORHOODS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Treasurer | OfficerTrustee | 1 | $0 |
Name Not Listed Vice Chair | OfficerTrustee | 1 | $0 |
Name Not Listed Chair | OfficerTrustee | 1 | $0 |
Name Not Listed Secretary | OfficerTrustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Life Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Innovative Edit Inc Website Development | 12/30/22 | $275,000 |
American Structurepoint Inc It Professional Fees | 12/30/22 | $109,028 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $85,499 |
| Government grants | $1,000,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $629,739 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,715,238 |
| Total Program Service Revenue | $7,591,949 |
| Investment income | $263,357 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $183,504 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $166,822 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,005,228 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $25,000 |
| 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. | $727,199 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,643,923 |
| Pension plan accruals and contributions | $118,698 |
| Other employee benefits | $549,973 |
| Payroll taxes | $316,563 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $201,615 |
| Fees for services: Accounting | $79,324 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $50,000 |
| Fees for services: Investment Management | $51,014 |
| Fees for services: Other | $1,098,696 |
| Advertising and promotion | $191,140 |
| Office expenses | $239,326 |
| Information technology | $206,655 |
| Royalties | $0 |
| Occupancy | $423,930 |
| Travel | $107,791 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $286,564 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $106,066 |
| Insurance | $0 |
| All other expenses | $195,158 |
| Total functional expenses | $10,601,588 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $698,260 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,011,665 |
| 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 | $399,387 |
| Net Land, buildings, and equipment | $365,252 |
| Investments—publicly traded securities | $10,305,464 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,740,321 |
| Total assets | $15,520,349 |
| Accounts payable and accrued expenses | $1,872,634 |
| Grants payable | $0 |
| Deferred revenue | $2,265,114 |
| 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 | $2,389,339 |
| Total liabilities | $6,527,087 |
| Net assets without donor restrictions | $8,993,262 |
| 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 | $15,520,349 |
Grants Awarded
Over the last fiscal year, Greater Indianapolis Chamber Of Commerce Inc has awarded $347,500 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
AES CORPORATION PURPOSE: Economic Development | $100,000 |
ASCENSION HEALTH PURPOSE: Economic Development | $200,000 |
HIGH ALPHA STUDIO PURPOSE: Economic Development | $12,500 |
THOMAS MEDICAL INC PURPOSE: Economic Development | $5,000 |
OCTIV PURPOSE: Economic Development | $25,000 |
DIVSYS INTERNATIONAL LLC PURPOSE: Economic Development | $5,000 |