Greater Newport Chamber Of Commerce
- Assets
- $814.2k
- Revenue
- $720.9k
- Investments
- $0.0
- Employees
- 7
- Location
- Newport, RI
- Founding
- 10/1975
- Data as of
- 12/2021
- EIN
- 05-0190960
Organization Overview
Greater Newport Chamber Of Commerce is located in Newport, RI. The organization was established in 1975. 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, Greater Newport Chamber Of Commerce employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Newport 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, Greater Newport Chamber Of Commerce generated $720.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $654.9k during the year ending 12/2021. 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
PROMOTE ECONOMIC, CIVIC, AND SOCIAL WELFARE OF THE PEOPLE OF NEWPORT COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CHAMBER SERVES THE GENERAL ECONOMIC WELFARE OF NEWPORT COUNTY BY PROMOTION OF TOURISM, PUBLISHING DIRECTORIES OF RESOURCES AVAILABLE, DEVELOPING PROGRAMS TO PROMOTE BUSINESS CLIMATE AND SIMILAR PROJECTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Erin Donovan-Boyle Executive Dir. | Officer | 40 | $112,734 |
Bonnie Gomes Ex Officio | OfficerTrustee | 1.25 | $0 |
Steve Senteio Secretary | OfficerTrustee | 1.25 | $0 |
Glenn Almquist Chair To 1/2021 | OfficerTrustee | 0.5 | $0 |
Andrew Tavares Treasurer | OfficerTrustee | 1.25 | $0 |
Joseph Pratt Chairman | OfficerTrustee | 1.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $197,668 |
| 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 | $197,668 |
| Total Program Service Revenue | $451,842 |
| Investment income | $1,779 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $585 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $720,886 |
| 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. | $112,734 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $299,381 |
| Pension plan accruals and contributions | $6,770 |
| Other employee benefits | $39,364 |
| Payroll taxes | $34,515 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $72 |
| Fees for services: Accounting | $7,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,476 |
| Advertising and promotion | $1,300 |
| Office expenses | $23,540 |
| Information technology | $19,702 |
| Royalties | $0 |
| Occupancy | $21,195 |
| Travel | $1,514 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $760 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,011 |
| Insurance | $1,884 |
| All other expenses | $1,396 |
| Total functional expenses | $654,853 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $510,797 |
| Savings and temporary cash investments | $203,411 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $59,423 |
| 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 | $10,543 |
| Net Land, buildings, and equipment | $30,021 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $814,195 |
| Accounts payable and accrued expenses | $303,138 |
| Grants payable | $0 |
| Deferred revenue | $3,382 |
| 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 | $0 |
| Total liabilities | $306,520 |
| Net assets without donor restrictions | $507,675 |
| 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 | $814,195 |
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|---|---|---|
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Warren Alpert Foundation Providence, RI | $0 | $34,230,713 |
Rhode Island Automobile Insurance Plan Johnston, RI | $25,251,183 | $13,070,810 |
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Chartered Alternative Investment Analyst Association Inc Amherst, MA | $10,766,695 | $9,878,929 |
Downtown Boston Business Improvement District Corporation Boston, MA | $4,039,139 | $7,235,337 |
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Better Business Bureau Inc Marlborough, MA | $5,408,175 | $6,008,226 |
Two Ten Footwear Foundation Inc Waltham, MA | $38,171,628 | $5,812,562 |