Albany Area Chamber Of Commerce
- Assets
- $884.8k
- Revenue
- $460.1k
- Investments
- $318.4k
- Employees
- 5
- Location
- Albany, OR
- Founding
- 11/1944
- Data as of
- 06/2023
- EIN
- 93-0110065
Organization Overview
Albany Area Chamber Of Commerce is located in Albany, OR. The organization was established in 1944. 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 06/2023, Albany Area Chamber Of Commerce employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Albany 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 06/2023, Albany Area Chamber Of Commerce generated $460.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (12.0%) each year. All expenses for the organization totaled $478.0k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (9.7%) per year over the past 4 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
BUSINESS MEMBERSHIP ORGANIZATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOCAL CHAMBER OF COMMERCE WITH OVER 590 MEMBERS SERVING THE NEEDS OF BUSINESSES IN THE GREATER ALBANY AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Anderson Director | Trustee | 1 | $0 |
Brian Dietrich Director | Trustee | 1 | $0 |
Joel Kinman Director | Trustee | 1 | $0 |
Lori Mckinnon Director | Trustee | 1 | $0 |
John Pascone Director | Trustee | 1 | $0 |
Cordell Post Director | 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 | $245,399 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $245,399 |
| Total Program Service Revenue | $121,678 |
| Investment income | $2,662 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,600 |
| Net Gain/Loss on Asset Sales | -$1,176 |
| Net Income from Fundraising Events | $79,506 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $460,148 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $4,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $310,912 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,465 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $40,492 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $37,832 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,889 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $477,970 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $386,329 |
| Savings and temporary cash investments | $52,738 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $19,993 |
| 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 | $892 |
| Net Land, buildings, and equipment | $106,379 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $318,440 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $884,771 |
| Accounts payable and accrued expenses | $24,531 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $5,375 |
| Total liabilities | $29,906 |
| Net assets without donor restrictions | $827,872 |
| Net assets with donor restrictions | $26,993 |
| 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 | $884,771 |