Upper Valley Business Alliance
- Assets
- $302.1k
- Revenue
- $421.2k
- Investments
- $0.0
- Employees
- 3
- Location
- West Lebanon, NH
- Founding
- Data as of
- 12/2023
- EIN
- 84-3255631
Organization Overview
Upper Valley Business Alliance is located in West Lebanon, NH. 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 12/2023, Upper Valley Business Alliance employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Upper Valley Business Alliance 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 12/2023, Upper Valley Business Alliance generated $421.2k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 11.3% each year . All expenses for the organization totaled $388.4k during the year ending 12/2023. While expenses have increased by 19.4% per year over the past 4 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE UPPER VALLEY BUSINESS ALLIANCE IS TO PROMOTE THE ECONOMIC DEVELOPMENT AND PROSPERITY OF THE COMMUNITIES WE SERVE, INCLUDING HANOVER, LEBANON, ENFIELD, PLAINFIELD, CANAAN AND GRANTHAM, NEW HAMPSHIRE AS WELL AS NORWICH, VERMONT. THE ORGANIZATION IS A MEMBERSHIP-BASED ORGANIZATION AND SERVES AS THE REGIONAL CHAMBER OF COMMERCE. THE ORGANIZATION OVERSEES AND COMMUNICATES PROPOSED STATE AND LOCAL LEGISLATION AND ORDINANCES, PROMOTES OUR REGION AS A TOURISM DESTINATION AND PROVIDES MARKETING OF THE AREA, INTERACTS WITH LOCAL EMPLOYERS TO PROVIDE OPPORTUNITIES FOR ONGOING EDUCATION, AND WORKS WITH BUSINESSES AND LOCAL GOVERNMENT TO PROMOTE SUSTAINABLE GROWHT AND ECONOMIC DEVELOPMENT OF AREA TOWNS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INTERACTION WITH LOCAL EMPLOYERS TO PROVIDE OPPORTUNTIES FOR ONGOING EDUCATION RELATED TO HUMAN RESOURCES, EMPLOYER/EMPLOYEE RELATIONS AND BEST HIRING PRACTICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Packard Chair | OfficerTrustee | 4 | $0 |
Alison Chisolm Secretary | Trustee | 4 | $0 |
Jeffrey Chu Director | Trustee | 1 | $0 |
Shaun Mulholland Director | Trustee | 1 | $0 |
Michael Scheller Director | Trustee | 1 | $0 |
Heather Drinan Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $10,000 |
| 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 | $10,000 |
| Total Program Service Revenue | $386,324 |
| Investment income | $3,898 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,600 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $18,365 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $421,187 |
| 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. | $113,620 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $86,526 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $141 |
| Payroll taxes | $15,479 |
| 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 | $8,268 |
| Advertising and promotion | $17,396 |
| Office expenses | $3,177 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $22,449 |
| Travel | $319 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,721 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,676 |
| Insurance | $4,553 |
| All other expenses | $7,666 |
| Total functional expenses | $388,445 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $129,254 |
| Savings and temporary cash investments | $161,966 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,000 |
| 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 | $5,865 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,000 |
| Total assets | $302,085 |
| Accounts payable and accrued expenses | $637 |
| Grants payable | $0 |
| Deferred revenue | $98,226 |
| 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 | $98,863 |
| Net assets without donor restrictions | $203,222 |
| 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 | $302,085 |