Bangor Region Chamber Of Commerce
- Assets
- $520.7k
- Revenue
- $541.8k
- Investments
- $0.0
- Employees
- 6
- Location
- Bangor, ME
- Founding
- 01/1945
- Data as of
- 12/2021
- EIN
- 01-0024245
Organization Overview
Bangor Region Chamber Of Commerce is located in Bangor, 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, Bangor Region Chamber Of Commerce employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bangor Region 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, Bangor Region Chamber Of Commerce generated $541.8k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.8%) each year. All expenses for the organization totaled $518.8k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.7%) 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 AND ADVANCE A VITAL, HEALTHY BUSINESS ENVIROMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE BANGOR REGION CHAMBER OF COMMERCE IS A MEMBERSHIP ORGANIZATION WITH MANY AREA PROFESSIONALS WORKING TO PROMOTE AND ADVANCE A VITAL, HEALTHY BUSINESS ENVIROMENT.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deb Neuman President/ceo | OfficerTrustee | 40 | $95,203 |
Suzanne Spruce Past Chair | OfficerTrustee | 1.5 | $0 |
Jodi Reynolds Treasurer | OfficerTrustee | 1.5 | $0 |
David Dunning Chair | OfficerTrustee | 1.5 | $0 |
Jaclyn Fish Chair Elect | OfficerTrustee | 1.5 | $0 |
Elizbeth Russell Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $160,371 |
| 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 | $160,371 |
| Total Program Service Revenue | $340,682 |
| Investment income | $120 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $40,608 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $541,781 |
| 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. | $95,204 |
| Compensation of current officers, directors, key employees. | $9,520 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $203,207 |
| Pension plan accruals and contributions | $8,651 |
| Other employee benefits | $27,262 |
| Payroll taxes | $23,840 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $30,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,001 |
| Advertising and promotion | $21,633 |
| Office expenses | $16,163 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $57,206 |
| Travel | $1,124 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,633 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,615 |
| Insurance | $2,251 |
| All other expenses | $0 |
| Total functional expenses | $518,776 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $463,963 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $39,952 |
| 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 | $4,853 |
| Net Land, buildings, and equipment | $11,960 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $520,728 |
| Accounts payable and accrued expenses | $9,672 |
| Grants payable | $0 |
| Deferred revenue | $5,505 |
| 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 | $499,900 |
| Other liabilities | $1,521 |
| Total liabilities | $516,598 |
| Net assets without donor restrictions | $4,130 |
| 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 | $520,728 |
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 |