Central Maryland Chamber Of Commerce Inc
- Assets
- $92.9k
- Revenue
- $325.1k
- Investments
- $0.0
- Employees
- 4
- Location
- Odenton, MD
- Founding
- 08/1991
- Data as of
- 12/2021
- EIN
- 52-1391478
Organization Overview
Central Maryland Chamber Of Commerce Inc is located in Odenton, MD. The organization was established in 1991. 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, Central Maryland Chamber Of Commerce Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Central Maryland Chamber Of Commerce 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 12/2021, Central Maryland Chamber Of Commerce Inc generated $325.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $245.0k during the year ending 12/2021. While expenses have increased by 1.6% 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
THE CENTRAL MARYLAND CHAMBER OF COMMERCE IS A PROVEN ADVOCATE FOR THE CENTRAL MARYLAND ECONOMY, INCLUDING DEVELOPMENT OF THE ODENTON TOWN CENTER, GROWTH AT FT MEADE, EXPANSION OF ARUNDEL MILLS, AND FUNDING INFRASTURE NEEDED TO SUPPORT ALL OF IT.THE CHAMBER WORKS TO IMPROVE THE MARKET FOR BUSINESS BY GROWING THE LOCAL ECONOMY. IT ALSO KEEPS ITS MEMBERS INFORMED ABOUT WHAT IS GOING ON IN THE AREA, PROMOTES BUSINESS THROUGHOUT CENTRAL MARYLAND AND CONNECTS ITS MEMBERS TO OPPORTUNITIES THROUGH NETWORKING AND PERSONAL INTRODUCTIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADVOCATE: - THE CENTRAL MARYLAND CHAMBER OF COMMERCE IS THE VOICE FOR THE CENTRAL MARYLAND BUSINESS COMMUNITY ON ISSUES IMPACTING THE AREA. ADVOCACY ISSUES INCLUDE: * SUPPORTING DEVELOPMENT OF THE ODENTON TOWN CENTER, INCLUDING THE ADOPTION OF A FUNCTIONAL ODENTON TOWN CENTER MASTER PLAN; * SEEKING FUNDING FOR INFRASTRUCTURE, INCLUDING ROADS, ON AND OFF POST IN SUPPORT OF CONTINUING FORT MEADE AND PRIVATE SECTOR EXPANSION; * MONITORING COUNTY AND STATE LEGISLATIVE PROCESSES TO ENCOURAGE BUSINESS AND DEVELOPMENT FRIENDLY REGULATION AND TAXATION, AND * ADDRESSING BUSINESS AND COMMUNITY NEEDS RELATED TO THE SUCCESS OF MARYLAND LIVE! CASINO AT ARUNDEL MILLS.PROMOTE AND CONNECT: - THE CENRAL MARYLAND COUNTY CHAMBER OF COMMERCE ACTIVELY PROMOTES MEMBER BUSINESSES TO THOSE WHO CAN USE THEIR SERVICES, AND HELPS MEMBERS CONNECT TO OPPORTUNITIES THROUGH NETWORKING EVENTS, REFERRALS AND PERSONAL INTRODUCTIONS.INFORM: - THE CENTRAL MARYLAND CHAMBER OF COMMERCE SERVES AS A RESOURCE FOR MEMBERS TO LEARN ABOUT THE AREA ISSUES AND TRENDS, INCLUDING GROWTH AT FORT MEADE AND IN THE SURROUNDING AREA, AREA DEMOGRAPHICS, NEW PROJECTS ON THE HORIZON AND LEGISLATION THAT CAN IMPACT THEIR BUSINESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Harris At-Large | OfficerTrustee | 1 | $0 |
Sean Underwood At-Large | OfficerTrustee | 1 | $0 |
Sonja Gladwin Past Chair | OfficerTrustee | 1 | $0 |
Chris Riismandel Chairman | OfficerTrustee | 3 | $0 |
Cindi Mitchell 2nd Vice Chair | OfficerTrustee | 1 | $0 |
Mary Bello Past Chair | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $129,447 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $19,780 |
| All other contributions, gifts, grants, and similar amounts not included above | $81,550 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $230,777 |
| Total Program Service Revenue | $94,296 |
| 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 | $325,073 |
| 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. | $94,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $82,100 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,619 |
| Payroll taxes | -$11,745 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,448 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,129 |
| Office expenses | $973 |
| Information technology | $15,356 |
| Royalties | $0 |
| Occupancy | $33,769 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,680 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $814 |
| Insurance | $3,649 |
| All other expenses | $1,946 |
| Total functional expenses | $245,005 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $80,180 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,687 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $92,867 |
| Accounts payable and accrued expenses | $1,190 |
| Grants payable | $0 |
| Deferred revenue | $12,400 |
| 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 | $52,144 |
| Other liabilities | $0 |
| Total liabilities | $65,734 |
| Net assets without donor restrictions | $27,133 |
| 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 | $92,867 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Central Maryland Chamber Of Commerce Inc has recieved totaling $25,256.
| Awarding Organization | Amount |
|---|---|
Anne Arundel Economic Development Corporation Annapolis, MD PURPOSE: COVID RELIEF - NONPROFIT ECONOMIC DEVELOPMENT RECOVERY (NPED) | $19,780 |
Anne Arundel Economic Development Corporation Annapolis, MD PURPOSE: COVID RELIEF - CUSTOMER & EMPLOYEE PROTECTION (CEP) | $5,476 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Restaurant Association Washington, DC | $192,667,812 | $96,146,955 |
American Association Of State Highway & Transportation Officials Washington, DC | $177,160,624 | $97,013,353 |
American Beverage Association Washington, DC | $114,967,236 | $101,585,081 |
Credit Union National Association Inc Washington, DC | $67,388,582 | $69,543,852 |
Edison Electric Institute Washington, DC | $198,917,565 | $81,084,181 |
Investment Company Institute Washington, DC | $76,230,571 | $72,478,404 |
Packaging Machinery Manufacturers Institute Inc Herndon, VA | $71,869,344 | $62,733,082 |
Consumer Technology Association Arlington, VA | $357,760,838 | $25,474,279 |
National Retail Federation Inc Washington, DC | $44,909,805 | $48,694,616 |
American Psychiatric Association Washington, DC | $179,554,491 | $53,525,834 |
Mexican Haas Avocado Importers Association Fallston, MD | $10,238,623 | $43,648,629 |
Certified Financial Planner Board Of Standards Inc Washington, DC | $72,477,411 | $49,028,168 |