Grand Rapids Area Chamber Of Commerce
- Assets
- $4.8m
- Revenue
- $4.5m
- Investments
- $0.0
- Employees
- 41
- Location
- Grand Rapids, MI
- Founding
- 12/1944
- Data as of
- 12/2021
- EIN
- 38-0592500
Organization Overview
Grand Rapids Area Chamber Of Commerce is located in Grand Rapids, MI. The organization was established in 1944. 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 12/2021, Grand Rapids Area Chamber Of Commerce employed 41 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grand Rapids Area 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, Grand Rapids Area Chamber Of Commerce generated $4.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.5% each year. All expenses for the organization totaled $4.1m during the year ending 12/2021. While expenses have increased by 7.7% 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
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUBLIC POLICY AND GOVERNMENT AFFAIRS - IDENTIFY ISSUES OF CONCERN AND WORK WITH ELECTED OFFICIALS TO PROMOTE POLICIES AND PROGRAMS TO STIMULATE THE AREA'S ECONOMIC GROWTH AND CREATE JOB OPPORTUNITIES. OUR TOP PRIORITIES THIS YEAR WERE COVID RECOVERY AND RELIEF, PPT REFORM FOR COMMERCIAL BUSINESSES, HOUSING AND HOMELESSNESS, TALENT AND UNFUNDED LIABILITIES, AND EXPANSION OF ELLIOT LARSEN.
MEMBER SERVICES - STRENGTHEN THE CHAMBER'S MEMBERSHIP AND IMPROVE SERVICES TO MEMBERS WITH SPECIAL EMPHASIS ON MEMBER RECRUITMENT, RETENTION AND ACTIVATION THROUGH CONTINUED COMMUNICATION WITH MEMBERS. DISCOUNT PROGRAMS FOR MEMBERS INCLUDED OFFICE SUPPLIES, WORKERS COMP INSURANCE, PAYROLL SERVICES AND GAS DISCOUNTS. PUBLICATION OF THE MONTHLY CHAMBER NEWSPAPER AND OUR E-NEWS HIGHLIGHT MEMBERS AND OFFER ADVERTISING OPPORTUNITIES. WE WELCOMED 220 NEW MEMBERS TO THE CHAMBER AND RETAINED 85% OF OUR CURRENT MEMBERSHIP.
PROGRAMS AND EVENTS - PROVIDE OPPORTUNITIES FOR BUSINESS NETWORKING THROUGH A VARIETY OF MEMBER EVENTS. THE CHAMBER SAFELY NAVIGATED MOVING BACK TO IN-PERSON EVENTS. WE WELCOMED A NEW TEAM MEMBER SOLELY FOCUSED ON OUR WORK WITH MINORITY OWNED BUSINESSES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rick Baker CEO | OfficerTrustee | 40 | $346,648 |
Omar Cuevas VP Of Sales And Marketing | 40 | $264,702 | |
Dante Villarreal VP Of Programs And Services | 40 | $139,105 | |
Kate Wezeman VP Of Finance & Operations | Officer | 40 | $134,844 |
Andy Johnston VP Of Government Affairs | 40 | $123,138 | |
Meredith Bronk President | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
161 Ottawa Llc Office Rental | 12/30/14 | $188,095 |
Blue Care Network Health Insurance | 12/30/14 | $169,505 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,400 |
| 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 | $1,400 |
| Total Program Service Revenue | $3,202,930 |
| Investment income | $5,102 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $36,253 |
| 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 | $4,480,644 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $9,621 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,008,437 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,207,378 |
| Pension plan accruals and contributions | $83,845 |
| Other employee benefits | $267,655 |
| Payroll taxes | $48,376 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $116,878 |
| Advertising and promotion | $65,022 |
| Office expenses | $20,218 |
| Information technology | $39,102 |
| Royalties | $0 |
| Occupancy | $243,119 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $271,030 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $146,957 |
| Insurance | $19,861 |
| All other expenses | $96,062 |
| Total functional expenses | $4,136,379 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,257 |
| Savings and temporary cash investments | $2,425,831 |
| Pledges and grants receivable | $111,125 |
| Accounts receivable, net | $460,310 |
| 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 | $14,983 |
| Net Land, buildings, and equipment | $802,912 |
| Investments—publicly traded securities | $964,849 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,793,267 |
| Accounts payable and accrued expenses | $456,899 |
| Grants payable | $0 |
| Deferred revenue | $1,559,884 |
| 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 | $2,016,783 |
| Net assets without donor restrictions | $2,776,484 |
| 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 | $4,793,267 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Grand Rapids Area Chamber Of Commerce has recieved totaling $20,100.
| Awarding Organization | Amount |
|---|---|
Health Alliance Plan Of Michigan Detroit, MI PURPOSE: Organizational/Community Support | $10,100 |
National Skills Coalition Washington, DC PURPOSE: BLU SUBGRANT AGREEMENT | $10,000 |
Endowment Analysis
| Beg. Balance | $67,480 |
| Earnings | $10,288 |
| Ending Balance | $77,768 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dane Buy Local Foundation Inc Madison, WI | $199,958 | $19,130,759 |
Leap Lansing, MI | $5,631,252 | $15,493,708 |
Greater Cleveland Partnership Cleveland, OH | $36,035,820 | $14,402,868 |
Board Of Certified Safety Professionals Of The Americas Inc Indianapolis, IN | $35,079,358 | $17,695,377 |
Asqexcellence Inc Milwaukee, WI | $6,648,120 | $11,915,494 |
The Right Place Inc Grand Rapids, MI | $10,135,241 | $14,178,677 |
Central Indiana Corporate Partnership Inc Indianapolis, IN | $8,694,724 | $11,696,503 |
Automotive Industry Action Group Southfield, MI | $14,204,782 | $10,849,803 |
National Association Of Tax Professionals Inc Appleton, WI | $15,322,195 | $11,606,289 |
Detroit Regional Chamber Foundation Inc Detroit, MI | $6,324,468 | $12,985,195 |
Detroit Regional Chamber Detroit, MI | $15,593,687 | $11,203,489 |
Custom Electronic Design & Installation Association Fishers, IN | $40,806,745 | $4,400,829 |