Salt Lake Area Chamber Of Commerce
- Assets
- $6.3m
- Revenue
- $5.4m
- Investments
- $0.0
- Employees
- 70
- Location
- Salt Lake City, UT
- Founding
- 08/1982
- Data as of
- 06/2021
- EIN
- 87-0121901
Organization Overview
Salt Lake Area Chamber Of Commerce is located in Salt Lake City, UT. The organization was established in 1982. 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 06/2021, Salt Lake Area Chamber Of Commerce employed 70 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Salt Lake Area 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 06/2021, Salt Lake Area Chamber Of Commerce generated $5.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $4.5m during the year ending 06/2021. 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 HELP UTAH BUSINESSES GROW AND PROSPER
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SALT LAKE CHAMBER IS UTAH'S LARGEST AND LONGEST-SERVING BUSINESS ASSOCIATION, REPRESENTING ONE IN EVERY THREE JOBS IN THE UTAH ECONOMY. WITH ROOTS THAT DATE BACK TO 1887, THE CHAMBER HAS BEEN STANDING AS THE VOICE OF BUSINESS, SUPPORTING ITS MEMBERS' SUCCESS AND CHAMPIONING COMMUNITY PROSPERITY FOR OVER 100 YEARS. WE SERVE OUR MEMBERS BY ADVOCATING PUBLIC POLICIES THAT PROMOTE PRIVATE-SECTOR GROWTH, APPROPRIATELY LIMIT THE SIZE OF GOVERNMENT, LOWER THE TAX AND REGULATORY BURDEN ON BUSINESS, AND MAKE UTAH AN OUTSTANDING PLACE TO LIVE AND DO BUSINESS. DIRECT BENEFITS TO A COMPANY'S BOTTOM LINE INCLUDE OPPORTUNITIES TO NETWORK, RECEIVE RECOGNITION, DEVELOP EMPLOYEES, RECEIVE MEMBER DISCOUNTS, AND INCREASE EXPOSURE. CHAMBER STRATEGIC PARTNERS INCLUDE THE SALT LAKE CITY DOWNTOWN ALLIANCE AND WORLD TRADE CENTER UTAH.
WASHINGTON D.C. TRIP - THE SALT LAKE CHAMBER'S ANNUAL WASHINGTON, D.C. TRIP IS AN EXTRAORDINARY, HIGH-LEVEL NETWORKING, EDUCATIONAL AND POLICY DEVELOPMENT OPPORTUNITY BRINGING UTAH'S BUSINESS LEADERS TOGETHER WITH MEMBERS OF OUR FEDERAL DELEGATION AND OTHER POLICY AND BUSINESS GROUPS HEADQUARTERED IN THE NATION'S CAPITAL. THE THREE-NIGHT, THREE-DAY WASHINGTON, D.C. TRIP INCLUDES AN UNMATCHED ITINERARY WITH SPECIAL TRACKS DESIGNED TO FIT A VARIETY OF INTERESTS.
GIANT IN OUR CITY AWARD -HONORS A MEMBER OF THE BUSINESS COMMUNITY WHO DISPLAYS EXCEPTIONAL SERVICE TO THE COMMUNITY AT A FORMAL DINNER ORGANIZED BY THE CHAMBER.
LEADERSHIP UTAH - AN INTENSIVE, EDUCATIONAL PROGRAM FOR HIGH-LEVEL EXECUTIVES WHO ARE INTERESTED IN ASSUMING LEADERSHIP ROLES IN THE COMMUNITY. PARTICIPANTS ARE INTRODUCED TO CRITICAL ISSUES AND TOP DECISION-MAKERS THROUGH A SERIES OF DAY-LONG SESSIONS. PARTICIPANT SELECTION TAKES PLACE IN AUGUST. A REGISTRATION FEE IS REQUIRED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Derek Miller President & CEO | OfficerTrustee | 46 | $341,856 |
Heidi Walker COO | Officer | 48 | $176,666 |
Mark Harvey Key Staff | 40 | $137,796 | |
Daniel Brimhall CFO | Officer | 48 | $115,831 |
Craig Wagstaff Board Chair | OfficerTrustee | 3 | $0 |
Gary Porter Board Vice Chair | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,843,858 |
| All other contributions, gifts, grants, and similar amounts not included above | $804,281 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,648,139 |
| Total Program Service Revenue | $2,734,898 |
| Investment income | $583 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$19,206 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,364,414 |
| 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. | $1,095,376 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $635,264 |
| Pension plan accruals and contributions | $67,514 |
| Other employee benefits | $128,112 |
| Payroll taxes | $112,348 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $140,277 |
| Fees for services: Accounting | $12,900 |
| Fees for services: Lobbying | $96,940 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $535,698 |
| Advertising and promotion | $752,991 |
| Office expenses | $105,751 |
| Information technology | $42,415 |
| Royalties | $0 |
| Occupancy | $199,014 |
| Travel | $20,886 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $339,567 |
| Interest | $25 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $57,142 |
| Insurance | $11,744 |
| All other expenses | $6,531 |
| Total functional expenses | $4,482,309 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,381,619 |
| Savings and temporary cash investments | $515,275 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $518,494 |
| 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 | $73,658 |
| Net Land, buildings, and equipment | $291,586 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,520,182 |
| Total assets | $6,300,814 |
| Accounts payable and accrued expenses | $606,781 |
| Grants payable | $0 |
| Deferred revenue | $405,677 |
| 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 | $444,752 |
| Other liabilities | $2,788,226 |
| Total liabilities | $4,245,436 |
| Net assets without donor restrictions | $2,055,378 |
| 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 | $6,300,814 |
Grants Awarded
Over the last fiscal year, Salt Lake Area Chamber Of Commerce has awarded $110,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Salt Lake City, UT PURPOSE: GENERAL SUPPORT | $50,000 |
Salt Lake City, UT PURPOSE: GENERAL SUPPORT | $50,000 |
Cedar City, UT PURPOSE: GENERAL SUPPORT | $5,000 |
Cedar City, UT PURPOSE: GENERAL SUPPORT | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Salt Lake Area Chamber Of Commerce has recieved totaling $22,500.
| Awarding Organization | Amount |
|---|---|
Utah Clean Air Partnership Ucair Inc Salt Lake City, UT PURPOSE: FUNDING TO NONPROFIT FOR PROGRAM. | $20,000 |
James Lee Sorenson Family Foundation Salt Lake City, UT PURPOSE: ANNAUL EVENT SPONSORSHIP | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Metropolitan Tucson Convention And Visitors Bureau Tucson, AZ | $11,117,181 | $12,905,654 |
Park City Area Chamber Of Commerce Convention & Visitors Buerau Park City, UT | $9,039,229 | $12,386,201 |
Denver Metro Chamber Of Commerce Denver, CO | $24,074,791 | $9,796,835 |
Arizona Association Of Realtors Phoenix, AZ | $41,549,602 | $11,298,614 |
Greater Las Vegas Chamber Of Commerce Inc Las Vegas, NV | $11,964,032 | $6,654,752 |
Colorado Lending Source Ltd Denver, CO | $12,386,604 | $5,983,291 |
Greater Boise Chamber Of Commerce Boise, ID | $3,444,262 | $5,301,196 |
Salt Lake Area Chamber Of Commerce Salt Lake City, UT | $6,300,814 | $5,364,414 |
Colorado Springs Convention Visitors Bureau Colorado Springs, CO | $5,599,246 | $5,101,017 |
Arizona Chamber Of Commerce Scottsdale, AZ | $2,431,863 | $4,265,420 |
Visit Mesa Mesa, AZ | $4,162,737 | $5,173,998 |
Tempe Convention And Visitors Bureau Inc Tempe, AZ | $1,295,007 | $3,977,965 |