Hunterdon County Chamber Of Commerce Foundation
- Assets
- $1.5m
- Revenue
- $178.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Flemington, NJ
- Founding
- 09/2014
- Data as of
- 12/2021
- EIN
- 46-2604491
Organization Overview
Hunterdon County Chamber Of Commerce Foundation is located in Flemington, NJ. The organization was established in 2014. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hunterdon County Chamber Of Commerce Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Hunterdon County Chamber Of Commerce Foundation generated $178.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.9% each year. All expenses for the organization totaled $164.7k during the year ending 12/2021. 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
THE GOAL OF THIS ORGANIZATION IS TO ESTABLISH A CENTER FOR BUSINESS & ENTREPRENEURSHIP AND ALSO IS EFFECTIVELY FOCUSING THE SKILLS AND RESOURCES OF THE GREATER HUNTERDON COUNTY BUSINESS COMMUNITY AND ADVANCING THE INTEREST OF THE HUNTERDON COUNTY BUSINESS COMMUNITY THORUGH BUSINESS RESOURCES, ECONOMIC & WORKFORCE DEVELOPMENT, LEADERSHIP DEVELOPMENT, TOURISM, PHILANTHROPY, AND THE PROMOTION OF HTE CIVIC, EDUCATIONAL, CULTURAL AND ECONOMIC INTEREST OF THE REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LEADERSHIP HUNTERDON, A PROGRAM INITIATED IN 2012 BY THE HUNTERDON COUNTY CHAMBER OF COMMERCE, WAS CREATED TO TRANSFORM PEOPLE TO BECOME TRUSTEES OF OUR COMMUNITIES, TO BECOME LEADERSHIP RESOURCES AND WORK FOR THE BETTERMENT OF HUNTERDON COUNTY. ONE OF THE GOALS FOR PARTICIPANTS IN LEADERSHIP HUNTERDON IS TO DEVELOP STRONG LEADERSHIP QUALITIES WITHIN THEIR RESPECTIVE ORGANIZATIONS. INDIVIDUALS ARE ABLE TO ENHANCE THEIR DECISION MAKING AND STRATEGIC THINKING AND ACQUIRE IN-DEPTH EXPOSURE TO HUNTERDON COUNTY BUSINESS LEADERS, COMMUNITY LEADERS, NON-PROFIT LEADERS AND POLITICAL LEADERSHIP. THE CLASS IS MADE UP OF INDIVIDUALS FROM LOCAL BUSINESSES AND NON-PROFIT ORGANIZATIONS THAT HAVE A PASSION TO LEARN ABOUT HUNTERDON COUNTY AS WELL AS THEMSELVES. FOR 9 MONTHS, THE CLASS BECOMES IMMERSED IN A "BEHIND THE SCENES" OVERVIEW OF HUNTERDON COUNTY THAT EXPLORES THE MANY FACETS THAT SHAPE THE CURRENT MAKE-UP OF THE COUNTY.
THE BUSINESS HALL OF FAME WAS ESTABLISHED IN 2017 TO RECOGNIZE INDIVIDUALS, ORGANIZATIONS AND COMPANIES THAT HAVE MADE SIGNIFICANT LIFETIME ACCOMPLISHMENTS TO THE HUNTERDON COUNTY BUSINESS COMMUNITY. THE EVENT IS GEARED TO EDUCATE AND INSPIRE OUR CURRENT BUSINESS COMMUNITY AND THROUGH A SERIES OF VIDEOS HAVE AN EDUCATIONAL COMPONENT THAT WILL BE SHARED WITH THE COMMUNITY AND OUR EDUCATIONAL SYSTEM TO INSPIRE THE NEXT GENERATION OF ENTREPRENEURSHIP IN HUNTERDON COUNTY.
THE FOUNDATION PROVIDES A HOME FOR THE PLATFORM, PROGRAMMING AND ACTIVITIES THAT COMPRISE THE CENTER FOR BUSINESS AND ENTREPRENEURSHIP. THE CENTER PROVIDES BENEFITS FOR BOTH THE PROFIT AND NON-PROFIT COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dj Wright Treasurer | OfficerTrustee | 1 | $0 |
Karen Widico Immediate Ch | OfficerTrustee | 1 | $0 |
Nicholas Pellitta ESQ Chair | OfficerTrustee | 1 | $0 |
Christopher Phelan Secretary/pr | OfficerTrustee | 15 | $0 |
Elizabeth Lowe Board Member | Trustee | 1 | $0 |
Edward Kurowicki Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $59,929 |
| All other contributions, gifts, grants, and similar amounts not included above | $50,035 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $109,964 |
| Total Program Service Revenue | $27,538 |
| Investment income | $2 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $12,000 |
| 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 | $178,178 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $25,000 |
| 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 | $8,239 |
| Advertising and promotion | $696 |
| Office expenses | $4,474 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $28,319 |
| Travel | $3,743 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $8,430 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $39,873 |
| Insurance | $2,226 |
| All other expenses | $4,841 |
| Total functional expenses | $164,745 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,474 |
| Savings and temporary cash investments | $4,892 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $1,421,346 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $41,306 |
| Total assets | $1,487,018 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $1,058,601 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,058,601 |
| Net assets without donor restrictions | $428,417 |
| 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 | $1,487,018 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pidc-Developement Management Corporation Philadelphia, PA | $0 | $30,722,052 |
Delaware River Waterfront Corporation Philadelphia, PA | $26,551,411 | $24,883,136 |
T R W I B Inc Pittsburgh, PA | $14,392,055 | $22,959,509 |
Pidc Financing Corp Philadelphia, PA | $6,556,052 | $18,403,713 |
Insitech Inc Warren, NJ | $450,270 | $14,466,949 |
Ridc Regional Growth Fund Pittsburgh, PA | $36,670,171 | $9,947,122 |
Delaware County Economic Development Oversight Board Media, PA | $2,255,958 | $10,697,300 |
Riverfront Development Corporation Of Delaware Wilmington, DE | $140,150,021 | $1,670,893 |
Alleghenies Planning And Development Commission Altoona, PA | $25,721,818 | $9,986,298 |
Sports Fans Coalition Ny Inc Ronkonkoma, NY | $633,460 | $8,459,536 |
Greater Philadelphia Tourism Marketing Corporation Philadelphia, PA | $11,403,385 | $8,019,397 |
Choose New Jersey Inc Newark, NJ | $7,145,867 | $9,053,939 |