Northern Virginia Chamber Of Commerce
- Assets
- $700.9k
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 13
- Location
- Tysons Corner, VA
- Founding
- 10/1990
- Data as of
- 12/2020
- EIN
- 54-0206469
Organization Overview
Northern Virginia Chamber Of Commerce is located in Tysons Corner, VA. The organization was established in 1990. 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 12/2020, Northern Virginia Chamber Of Commerce employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northern Virginia 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 12/2020, Northern Virginia Chamber Of Commerce generated $2.1m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.9%) each year. All expenses for the organization totaled $2.1m during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (4.7%) per year over the past 6 years. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE ECONOMIC VITALITY, QUALITY OF LIFE & POLITICAL INTERESTS OF THE CHAMBER'S MEMBERS & THE BUSINESS COMMUNITY OF NORTHERN VIRGINIA THROUGH EDUCATIONAL PROGRAMS AND VARIOUS PUBLICATIONS TO FOSTER THE DEVELOPMENT OF NEW AND EXISTING BUSINESSES IN NORTHERN VIRGINIA AND SUPPORTING BUSINESS THROUGHOUT THE GREATER WASHINGTON METROPOLITAN AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE NORTHERN VIRGINIA CHAMBER OF COMMERCE (THE CHAMBER) IS A MEMBERSHIP ORGANIZATION DEDICATED TO THE DEVELOPMENT OF NEW AND EXISTING BUSINESSES IN NORTHERN VIRGINIA AND SUPPORTING BUSINESS THROUGHOUT THE GREATER WASHINGTON METROPOLITAN AREA.
DURING 2020 THE COVID-19 PANDEMIC CREATED A NEED TO PROVIDE MEETINGS, EVENTS AND WEBINARS IN A VIRTUAL FORMAT. WE SPONSORED 50 EVENTS WITH OVER 5,000 ATTENDEES AND PRODUCED VARIOUS PUBLICATIONS TO PROMOTE BUSINESS DEVELOPMENT THROUGHOUT NORTHERN VIRGINIA.
CREATED A WEBSITE TO COLLECT AND DISSEMINATE REGIONAL INFORMATION AND RESOURCES FOR THE COMMUNITY OF NORTHERN VIRGINIA RELATED TO THE COVID-19 PANDEMIC AND RECOVERY, A SERIES OF RELATED WEBINARS, AS WELL AS A VIDEO SERIES HIGHLIGHTING RESOURCES FOR ENTREPRENEURS.
THE NORTHERN VIRGINIA CHAMBER OF COMMERCE (THE CHAMBER) IS A MEMBERSHIP ORGANIZATION DEDICATED TO THE DEVELOPMENT OF NEW AND EXISTING BUSINESSES IN NORTHERN VIRGINIA AND SUPPORTING BUSINESS THROUGHOUT THE GREATER WASHINGTON METROPOLITAN AREA.
DURING 2020 THE COVID-19 PANDEMIC CREATED A NEED TO PROVIDE MEETINGS, EVENTS AND WEBINARS IN A VIRTUAL FORMAT. WE SPONSORED 50 EVENTS WITH OVER 5,000 ATTENDEES AND PRODUCED VARIOUS PUBLICATIONS TO PROMOTE BUSINESS DEVELOPMENT THROUGHOUT NORTHERN VIRGINIA.
CREATED A WEBSITE TO COLLECT AND DISSEMINATE REGIONAL INFORMATION AND RESOURCES FOR THE COMMUNITY OF NORTHERN VIRGINIA RELATED TO THE COVID-19 PANDEMIC AND RECOVERY, A SERIES OF RELATED WEBINARS, AS WELL AS A VIDEO SERIES HIGHLIGHTING RESOURCES FOR ENTREPRENEURS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julie Coons President And CEO | OfficerTrustee | 40 | $286,805 |
Kevin Kelly Vp, Finance And Administration | Officer | 40 | $156,255 |
Clayton Medford Vp, Government Relations | 40 | $125,533 | |
Jennifer Williamson Vp, Member Engagement | 40 | $120,726 | |
Susan Moser Treasurer | OfficerTrustee | 2 | $0 |
Kathryn Falk Chairman | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $96,376 |
| All other contributions, gifts, grants, and similar amounts not included above | $868,094 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $964,470 |
| Total Program Service Revenue | $1,143,842 |
| Investment income | $108 |
| 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 | $2,111,820 |
| 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. | $605,303 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $552,321 |
| Pension plan accruals and contributions | $14,083 |
| Other employee benefits | $50,703 |
| Payroll taxes | $23,458 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,869 |
| Fees for services: Accounting | $64,231 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $159,622 |
| Advertising and promotion | $25,486 |
| Office expenses | $31,002 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $174,026 |
| Travel | $10,275 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $121,350 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $41,830 |
| Insurance | $5,885 |
| All other expenses | $75,251 |
| Total functional expenses | $2,064,274 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $395,160 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $69,876 |
| Accounts receivable, net | $10 |
| 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 | $57,063 |
| Net Land, buildings, and equipment | $177,233 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,550 |
| Total assets | $700,892 |
| Accounts payable and accrued expenses | $133,396 |
| Grants payable | $0 |
| Deferred revenue | $628,356 |
| 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 | $150,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $415,335 |
| Total liabilities | $1,327,087 |
| Net assets without donor restrictions | -$626,195 |
| 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 | $700,892 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Northern Virginia Chamber Of Commerce has recieved totaling $8,000.
| Awarding Organization | Amount |
|---|---|
Pharmaceutical Research And Manufacturers Of America Washington, DC PURPOSE: General Contribution | $8,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Amt-The Association For Manufacturing Technology Mclean, VA | $46,538,427 | $7,983,774 |
Personal Care Products Council Washington, DC | $26,566,920 | $19,071,135 |
American Hotel & Lodging Association Directory Corporation Washington, DC | $39,158,961 | $23,973,024 |
Nashville Convention & Visitors Bureau Nashville, TN | $15,667,602 | $21,623,147 |
Responsible Business Alliance Inc Alexandria, VA | $17,217,182 | $20,384,843 |
Asis International Inc Alexandria, VA | $27,323,586 | $13,144,142 |
National Institute For Automotive Service Exellence Leesburg, VA | $25,163,895 | $18,755,834 |
International Masonry Institute Bowie, MD | $25,662,049 | $19,254,775 |
Association For Financial Professionals Inc Bethesda, MD | $30,134,135 | $15,069,162 |
Portland Cement Association Alexandria, VA | $21,852,055 | $18,216,465 |
American College Of Radiology Association Reston, VA | $28,168,186 | $16,951,008 |
Plastics Industry Association Inc Washington, DC | $19,265,703 | $12,261,158 |