Mid-Maine Chamber Of Commerce
- Assets
- $1.1m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 15
- Location
- Waterville, ME
- Founding
- 07/1982
- Data as of
- 12/2023
- EIN
- 01-0178800
Organization Overview
Mid-Maine Chamber Of Commerce is located in Waterville, ME. The organization was established in 1982. 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 12/2023, Mid-Maine Chamber Of Commerce employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mid-Maine 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 12/2023, Mid-Maine Chamber Of Commerce generated $1.3m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 10.9% each year . All expenses for the organization totaled $1.2m during the year ending 12/2023. While expenses have increased by 10.8% per year over the past 9 years. They've been increasing with an increasing level of total revenue. 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
CHAMBER OF COMMERCE WITH PROGRAM SERVICES THAT CONSIST OF VARIOUS ACTIVITIES DESIGNED TO PROMOTE THE MID-MAINE AREA, THEREBY INCREASING THE POTENTIAL MARKET FOR AREA BUSINESSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALL PROGRAM SERVICES CONSIST OF VARIOUS ACTIVITIES DESIGNED TO PROMOTE THE MID-MAINE AREA, THEREBY INCREASING THE POTENTIAL MARKET FOR AREA BUSINESSES.
JOSEPH B EZHAYA SCHOLARSHIP FUND AWARDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michelle Joler-Labbe Chair | OfficerTrustee | 2 | $0 |
Shawn Michaud 1st Vice Cha | OfficerTrustee | 2 | $0 |
Gary Poulin 2nd Vice Cha | OfficerTrustee | 2 | $0 |
Bruce Harrington Treasurer | OfficerTrustee | 2 | $0 |
Gary Levesque Director At | OfficerTrustee | 1 | $0 |
Tanya Clark Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $89,970 |
| Membership dues | $221,844 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $29,420 |
| Noncash contributions included in lines 1a–1f | $27,103 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $341,234 |
| Total Program Service Revenue | $887,436 |
| Investment income | $5,717 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,357 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $87,296 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,325,040 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,317 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $177,984 |
| Compensation of current officers, directors, key employees. | $177,984 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $663,933 |
| Pension plan accruals and contributions | $27,611 |
| Other employee benefits | $26,964 |
| Payroll taxes | $69,381 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,430 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,178 |
| Fees for services: Other | $14,258 |
| Advertising and promotion | $31,540 |
| Office expenses | $8,077 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,682 |
| Travel | $651 |
| 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 | $19,377 |
| Insurance | $10,654 |
| All other expenses | $19,387 |
| Total functional expenses | $1,194,993 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $223,772 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,672 |
| 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 | $408,393 |
| Investments—publicly traded securities | $369,340 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $75,711 |
| Total assets | $1,097,888 |
| Accounts payable and accrued expenses | $2,949 |
| Grants payable | $0 |
| Deferred revenue | $46,530 |
| 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 | $4,565 |
| Total liabilities | $54,044 |
| Net assets without donor restrictions | $968,133 |
| Net assets with donor restrictions | $75,711 |
| 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 | $1,097,888 |