Kennebec Valley Chamber Of Commerce
- Assets
- $554.4k
- Revenue
- $454.1k
- Investments
- $0.0
- Employees
- 8
- Location
- Augusta, ME
- Founding
- 08/1945
- Data as of
- 12/2021
- EIN
- 01-0022415
Organization Overview
Kennebec Valley Chamber Of Commerce is located in Augusta, ME. The organization was established in 1945. 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 12/2021, Kennebec Valley Chamber Of Commerce employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kennebec Valley 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 12/2021, Kennebec Valley Chamber Of Commerce generated $454.1k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.6%) each year. All expenses for the organization totaled $362.8k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (6.4%) per year over the past 6 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
ENHANCING QUALITY OF LIFE IN THE KENNEBEC VALLEY BY STRENGTHENING OUR REGIONAL ECONOMY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL AWARDS BANQUET-A MAJOR RECOGNITION PROGRAM TO HONOR DESERVING BUSINESS PEOPLE IN THE COMMUNITY. OVER 500 IN ATTENDANCE AND TELEVISED ON LOCAL STATIONS.
ECONOMIC DEVELOPMENT-THE ORGANIZATION WORKS WITH PROSPECTIVE BUSINESSES AND INDUSTRIES CONSIDERING LOCATING WITHIN THE AREA. THE ORGANIZATION WORKS CLOSELY WITH BUSINESS MEMBERS AND STATE AND LOCAL GOVERNMENTS TO HELP ASSURE A STRONG BUSINESS ENVIRONMENT.
MEMBERSHIP SERVICES-PROVIDE NETWORKING AND BUSINESS INFORMATION SERVICES FOR BUSINESS MEMBERS THROUGH MEETINGS AND SEMINARS. OVER 500 MEMBERS.
KENNEBEC LEADERSHIP INSTITUTE-TRAINING OF POTENTIAL FUTURE LEADERS. EXPENSES 27,674 INCLUDING GRANTS OF 0 REVENUE 25,675 CUSTOMER SERVICES-PROVIDES INFORMATION RESOURCES FOR ALL THOSE INTERESTED IN THE KENNEBEC VALLEY REGION. EXPENSES 37,540 INCLUDING GRANTS OF 0 REVENUE 0 WOMEN'S NETWORK/CYNERGY WOMEN'S NETWORK-PROVIDES A WOMEN'S LUNCHEON TO HELP BUILD NETWORKING RELATIONSHIPS BETWEEN WOMEN IN BUSINESS. CYNERGY-A PROGRAM FOR YOUNG PEOPLE (AGE 20-40) OF THE CAPITAL AREA TO CONNECT AND FOSTER CAREER, SOCIAL AND COMMUNITY BETTERMENT. EXPENSES 21,063 INCLUDING GRANTS OF 0 REVENUE 11,700 OTHER PROGRAMS-THE ORGANIZATION SERVES AS A LIASON BETWEEN VARIOUS ORGANIZATIONS. EXPENSES 81,819 INCLUDING GRANTS 0 REVENUE 9,000
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Katie Doherty President & | Officer | 40 | $95,230 |
Alec Rogers Past Chair | OfficerTrustee | 0.5 | $0 |
Chuck Hays Past Treasur | OfficerTrustee | 0.5 | $0 |
Earl Kingsbury Chair | OfficerTrustee | 2 | $0 |
Michele Pelletier Vice Chair | OfficerTrustee | 2 | $0 |
Tim Walton Chair Elect | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $189,678 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $96,014 |
| 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 | $285,692 |
| Total Program Service Revenue | $110,470 |
| Investment income | $390 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $38,447 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $454,098 |
| 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. | $95,230 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $112,787 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $26,231 |
| Payroll taxes | $21,042 |
| 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 | $8,311 |
| Advertising and promotion | $5,459 |
| Office expenses | $7,202 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,250 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,439 |
| Insurance | $5,323 |
| All other expenses | $28,904 |
| Total functional expenses | $362,785 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $116,860 |
| Savings and temporary cash investments | $13,405 |
| 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 | $289,696 |
| Investments—publicly traded securities | $134,395 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $554,356 |
| 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 | $13,556 |
| Total liabilities | $13,556 |
| Net assets without donor restrictions | $540,800 |
| 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 | $554,356 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
International Association Of Privacy Professionals Portsmouth, NH | $95,531,598 | $42,238,853 |
Advanced Regenerative Manufacturing Institute Inc Manchester, NH | $22,637,554 | $26,561,020 |
Global Seafood Alliance Inc Portsmouth, NH | $16,114,958 | $17,110,603 |
Maine State Chamber Of Commerce Augusta, ME | $923,733 | $2,213,591 |
Dartmouth Regional Technology Center Inc Lebanon, NH | $5,511,627 | $2,160,751 |
New England Apple Council Inc Goffstown, NH | $795,628 | $1,773,754 |
Maine Oil Dealers Association Brunswick, ME | $1,645,866 | $1,757,717 |
University Of Maine Pulp And Paper Foundation Orono, ME | $31,514,138 | $1,541,694 |
Pope Memorial Spca Of Concord Merrimack County Concord, NH | $5,304,139 | $1,435,100 |
New Hampshire Bankers Association Concord, NH | $1,878,135 | $1,082,708 |
Associated Builders And Contractors Inc Concord, NH | $1,404,762 | $1,170,910 |
Maine Automobile Dealers Association Inc Augusta, ME | $2,325,139 | $1,081,224 |