Salem Area Chamber Of Commerce
- Assets
- $943.8k
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 15
- Location
- Salem, OR
- Founding
- 08/1942
- Data as of
- 06/2021
- EIN
- 93-0138235
Organization Overview
Salem Area Chamber Of Commerce is located in Salem, OR. The organization was established in 1942. 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 06/2021, Salem Area Chamber Of Commerce employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Salem 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, Salem Area Chamber Of Commerce generated $1.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $1.1m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (1.5%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE BUSINESS AND A GOOD BUSINESS CLIMATE IN SALEM, OREGON.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION ATTRACTS BUSINESSES AND INDIVIDUALS TO THE SALEM, OREGON AREA TO CREATE NEW JOBS AND DEVELOP THE MARTKET POTENTIAL FOR THE REGION. THE CHAMBER SERVES OVER 1,100 BUSINESSES THAT EMPLOY APPROXIMATELY 43,000 PEOPLE THROUGHOUT THE REGION BY PROVIDING LEADERSHIP TRAINING, SOCIAL MEDIA CONSULTING, TRADESHOWS AND FORUMS, AND VARIOUS EVENTS TO PROVIDE BUSINESS NETWORKING OPPORTUNITIES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas A Hoffert CEO | Officer | 40 | $139,924 |
Wendy Veliz Vp-Business Advocacy | OfficerTrustee | 1 | $0 |
Eric Templeton Secretary | OfficerTrustee | 1 | $0 |
Alan Rasmussen Vp-Membership | OfficerTrustee | 1 | $0 |
Kathy Gordon President | OfficerTrustee | 1 | $0 |
Laura Dorn President Elect | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,000 |
| Investment income | $8 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $9,637 |
| Net Gain/Loss on Asset Sales | $10,351 |
| Net Income from Fundraising Events | $40,706 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,238,683 |
| Statement of Expenses | |
|---|---|
| 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. | $139,924 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $550,074 |
| Pension plan accruals and contributions | $14,273 |
| Other employee benefits | $64,831 |
| Payroll taxes | $64,404 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,751 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $23,844 |
| Advertising and promotion | $4,452 |
| Office expenses | $59,759 |
| Information technology | $12,311 |
| Royalties | $0 |
| Occupancy | $81,734 |
| Travel | $177 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $47,407 |
| Interest | $6,665 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $26,694 |
| Insurance | $7,550 |
| All other expenses | $0 |
| Total functional expenses | $1,138,947 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $411,529 |
| Savings and temporary cash investments | $31,270 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $105,945 |
| 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 | $9,596 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $7,956 |
| Other assets | $0 |
| Total assets | $943,827 |
| Accounts payable and accrued expenses | $105,568 |
| Grants payable | $0 |
| Deferred revenue | $103,753 |
| 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 | $11,501 |
| Total liabilities | $220,822 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $723,005 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Salem Area Chamber Of Commerce has recieved totaling $7,439.
| Awarding Organization | Amount |
|---|---|
Salem Community Foundation Inc Salem, OH PURPOSE: Holiday decorations | $7,439 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Chinatown Service Center Los Angeles, CA | $26,778,687 | $27,867,616 |
Sag-Aftra & Industry Sound Recordings Distribution Fund Valley Village, CA | $48,142,351 | $13,604,136 |
Electric & Gas Industries Association Sacramento, CA | $14,735,713 | $15,175,016 |
American Pistachio Growers Fresno, CA | $11,494,323 | $15,365,842 |
Travel Portland Portland, OR | $18,865,244 | $9,767,566 |
California Society Of Certified Public Accountants Burlingame, CA | $29,880,424 | $13,544,885 |
Association Of Washington Business Olympia, WA | $45,170,529 | $11,595,511 |
Master Builders Association Of King And Snohomish Counties Bellevue, WA | $50,140,289 | $12,586,024 |
Greater Seattle Chamber Of Commerce Seattle, WA | $24,652,320 | $11,051,510 |
Wafla Lacey, WA | $11,233,432 | $9,712,213 |
Sustainable Apparel Coalition Inc Oakland, CA | $12,069,125 | $10,210,019 |
Portland Business Alliance Portland, OR | $2,909,182 | $8,830,293 |