Industrial Council Of The City Of
- Assets
- $8.0k
- Revenue
- $250.8k
- Investments
- $0.0
- Employees
- 2
- Location
- Commerce, CA
- Founding
- 10/1962
- Data as of
- 12/2021
- EIN
- 95-2102737
Organization Overview
Industrial Council Of The City Of is located in Commerce, CA. The organization was established in 1962. According to its NTEE Classification (W20) the organization is classified as: Government & Public Administration, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Industrial Council Of The City Of employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Industrial Council Of The City Of 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 12/2021, Industrial Council Of The City Of generated $250.8k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.6%) each year. All expenses for the organization totaled $271.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.4%) 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
SINCE 1959, THE INDUSTRIAL COUNCIL, A CHAMBER OF COMMERCE HAS HELPED HUNDREDS OF BUSINESSES TAKE ROOT IN THE CITY OF COMMERCE. IT HAS BEEN THE VOICE OF BUSINESS SINCE INCORPORATION OF THE CITY.WE ARE AS DIVERSE AS THE COMMUNITY ITSELF, REPRESENTING BUSINESSES AND INDUSTRIES OF ALL SIZES. TOGETHER, WE ARE SHAPING THE CITY'S DYNAMIC BUSINESS ENVIRONMENT, CREATING WEALTH IN THE COMMUNITY AND MAKING OUR CITY A GREAT PLACE TO LIVE AND WORK.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED EMPLOYEE TRAINING OPPORTUNITIES TO PROVIDE A TALENT POOL FOR BUSINESSES WITHIN THE CITY.
FOB MAGAZINE SALES - PUBLISH MEMBERSHIP MAGAZINE AND DIRECTORY TO ENABLE MEMBERS TO CONTACT LOCAL BUSINESSES AND PROMOTE BUSINESS
HOSTED LUNCHEONS, DINNERS, MIXERS AND OTHER EVENTS TO PERMIT MEMBERS TO MEET AND MARKET THEIR BUSINESSES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Griffo President | Trustee | 1 | $68,221 |
Jon Reno Vice President | Trustee | 1 | $0 |
Jeff Mcfarland Vice President | Trustee | 1 | $0 |
Jim Filipan Director | Trustee | 1 | $0 |
Lupe Valdez Director | Trustee | 1 | $0 |
Melissa Demirci Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $76,175 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $57,870 |
| All other contributions, gifts, grants, and similar amounts not included above | $49,225 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $183,270 |
| Total Program Service Revenue | $61,245 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $6,289 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $250,804 |
| 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. | $68,221 |
| Compensation of current officers, directors, key employees. | $6,822 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $44,639 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $20,400 |
| Payroll taxes | $10,134 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,722 |
| Advertising and promotion | $0 |
| Office expenses | $1,806 |
| Information technology | $6,315 |
| Royalties | $0 |
| Occupancy | $19,340 |
| 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 | $1,228 |
| Insurance | $2,455 |
| All other expenses | $10,631 |
| Total functional expenses | $271,030 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,532 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $1,447 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4 |
| Total assets | $7,983 |
| Accounts payable and accrued expenses | $0 |
| 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 | $60,100 |
| Total liabilities | $60,100 |
| Net assets without donor restrictions | -$52,117 |
| 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 | $7,983 |
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