Delaware State Chamber Of Commerce
- Assets
- $1.7m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 14
- Location
- Wilmington, DE
- Founding
- 10/1942
- Data as of
- 12/2021
- EIN
- 51-0007780
Organization Overview
Delaware State Chamber Of Commerce is located in Wilmington, DE. The organization was established in 1942. 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, Delaware State Chamber Of Commerce employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Delaware State 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, Delaware State Chamber Of Commerce generated $1.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $1.4m 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
TO IMPROVE BUSINESS RELATIONS IN DELAWARE
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL DINNER EVENT - THE DELAWARE STATE CHAMBERS LARGEST NETWORK EVENT WITH DELAWARE'S BUSINESS LEADERS. THE EVENT FEATURES A WELL KNOWN KEYNOTE SPEAKER, DINNER AND PRESENTATION OF THE JOSIAH MARVEL CUP AWARD TO THE DELAWARE BUSINESS LEADER OR PROMINENT PERSON WHO MAKES SIGNIFICANT CONTRIBUTIONS TO THE STATE.
SUPERSTARS IN BUSINESS EVENT - RECOGNITION LUNCHEON FOR SMALL BUSINESS OWNERS AND NON-PROFITS. MEMBERS DESCRIBE WHAT'S SPECIAL ABOUT THEIR SMALL BUSINESS; EACH BUSINESS IS CONFIDENTIALLY REVIEWED BY A PANEL OF ACCOMPLISHED BUSINESS LEADERS WHO CHOOSE DELAWARE'S SUPERSTARS IN BUSINESS. THE EXPERIENCE ALSO PROVIDES FEEDBACK ABOUT THE APPLICANT'S BUSINESS. AWARDS ARE PRESENTED AT THE LUNCHEON ALONG WITH A VIDEO THAT SHOWCASES THE BUSINESS.
BUSINESS RELATIONS AND COMMUNITY SERVICES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael J Quaranta President | 40 | $250,320 | |
Nicholas P Lambrow Vice Chair & Treasurer | OfficerTrustee | 1 | $0 |
Scott Malfitano Vice Chair | OfficerTrustee | 1 | $0 |
Katie Wilkinson Chair | OfficerTrustee | 1 | $0 |
Tony Allen PHD Member | Trustee | 1 | $0 |
Jason D Gonzalez Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $1,479,670 |
| Investment income | $0 |
| 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 | $1,872,008 |
| 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. | $250,320 |
| Compensation of current officers, directors, key employees. | $62,580 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $449,435 |
| Pension plan accruals and contributions | $24,781 |
| Other employee benefits | $78,952 |
| Payroll taxes | $54,815 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $152,244 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $22,987 |
| Advertising and promotion | $379 |
| Office expenses | $24,260 |
| Information technology | $46,422 |
| Royalties | $0 |
| Occupancy | $88,966 |
| Travel | $6,445 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $84,657 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $33,245 |
| Insurance | $12,836 |
| All other expenses | $115 |
| Total functional expenses | $1,351,948 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $990,292 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $225,899 |
| 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 | $47,551 |
| Net Land, buildings, and equipment | $67,865 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $334,509 |
| Total assets | $1,666,116 |
| Accounts payable and accrued expenses | $33,090 |
| Grants payable | $0 |
| Deferred revenue | $622,301 |
| 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 | $32,864 |
| Total liabilities | $688,255 |
| Net assets without donor restrictions | $977,861 |
| 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 | $1,666,116 |
Grants Awarded
Over the last fiscal year, Delaware State Chamber Of Commerce has awarded $70,057 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Wilmington, DE PURPOSE: AFFILIATE GRANT | $51,157 |
Wilmington, DE PURPOSE: AFFILIATE GRANT | $18,900 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Delaware State Chamber Of Commerce has recieved totaling $12,500.
| Awarding Organization | Amount |
|---|---|
Wilmington University Inc New Castle, DE PURPOSE: SPONSORSHIP | $12,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
New Jersey Association Of Realtors Trenton, NJ | $35,262,029 | $9,547,353 |
Maryland Association Of Realtors Inc Annapolis, MD | $30,475,935 | $7,062,781 |
Greater Lehigh Valley Chamber Of Commerce Easton, PA | $3,461,943 | $5,381,256 |
Lehigh Valley Convention And Visitors Bureau Inc Easton, PA | $4,337,434 | $4,870,520 |
Delaware Compensation Rating Bureau Philadelphia, PA | $480,459 | $3,630,846 |
Utility And Transportation Contract Ors Association Of New Jersey Inc Allenwood, NJ | $2,438,761 | $3,275,196 |
Scranton Chamber Of Commerce Scranton, PA | $3,720,953 | $3,006,087 |
Lancaster Chamber Of Commerce And Industry Lancaster, PA | $2,782,986 | $2,692,826 |
Montgomery County Chamber Of Commerce Rockville, MD | $1,714,044 | $2,115,679 |
Better Business Bureau Of New Jersey Trenton, NJ | $4,189,484 | $1,828,809 |