Greater Providence Chamber Of Commerce
- Assets
- $8.8m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 8
- Location
- Providence, RI
- Founding
- 11/1942
- Data as of
- 09/2022
- EIN
- 05-0203250
Organization Overview
Greater Providence Chamber Of Commerce is located in Providence, RI. The organization was established in 1942. 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 09/2022, Greater Providence Chamber Of Commerce employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Providence 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 09/2022, Greater Providence Chamber Of Commerce generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.0%) each year. All expenses for the organization totaled $1.4m during the year ending 09/2022. As we would expect to see with falling revenues, expenses have declined by (3.7%) 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE BUSINESSES THROUGH THE ORGANIZATION OF VARIOUS MEETINGS, FUNCTIONS, AND PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE GREATER PROVIDENCE CHAMBER OF COMMERCE PROMOTES BUSINESS AND COMMUNITY GROWTH AND DEVELOPMENT.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laureen L White President | OfficerTrustee | 40 | $228,002 |
Meghan Hughes Chair | OfficerTrustee | 2 | $0 |
Alden Anderson Immediate Past Chair | Trustee | 2 | $0 |
Jonathan Duffy Past Chair | Trustee | 2 | $0 |
David Rubin Secretary | OfficerTrustee | 2 | $0 |
Patricia Thompson Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $650,790 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $650,790 |
| Total Program Service Revenue | $386,935 |
| Investment income | $153,419 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$138,466 |
| Net Gain/Loss on Asset Sales | $222,803 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,275,481 |
| 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. | $444,693 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $363,181 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $108,550 |
| Payroll taxes | $48,966 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,188 |
| Fees for services: Accounting | $22,300 |
| Fees for services: Lobbying | $103,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $52,789 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $7,637 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,945 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $75,670 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,764 |
| Insurance | $13,635 |
| All other expenses | $16,887 |
| Total functional expenses | $1,397,974 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $206,376 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $23,389 |
| 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 | $4,244 |
| Net Land, buildings, and equipment | $1,431,263 |
| Investments—publicly traded securities | $7,090,605 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,755,877 |
| Accounts payable and accrued expenses | $211,770 |
| Grants payable | $0 |
| Deferred revenue | $94,425 |
| 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 | $306,195 |
| Net assets without donor restrictions | $8,449,682 |
| 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 | $8,755,877 |