Brooklyn Chamber Of Commerce Inc
- Assets
- $602.5k
- Revenue
- $920.5k
- Investments
- $0.0
- Employees
- 22
- Location
- Brooklyn, NY
- Founding
- 05/1933
- Data as of
- 12/2022
- EIN
- 11-0577070
Organization Overview
Brooklyn Chamber Of Commerce Inc is located in Brooklyn, NY. The organization was established in 1933. 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 12/2022, Brooklyn Chamber Of Commerce Inc employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Brooklyn Chamber Of Commerce Inc 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 12/2022, Brooklyn Chamber Of Commerce Inc generated $920.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.7%) each year. All expenses for the organization totaled $643.9k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (8.0%) per year over the past 8 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
ASSIST BROOKLYN BUSINESSES BY PROVIDING SERVICES IN WAYS THAT PROMOTE AND MONITOR ECONOMIC GROWTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBERSHIP EVENTS AND ACTIVITIES - EVENTS AND ACTIVITIES THROUGHOUT THE YEAR TO FOSTER NETWORKING BETWEEN, AND PROVIDE TOPICAL BUSINESS INFORMATION TO, MEMBERS/NON-MEMBERS OF THE BROOKLYN COMMUNITY AND TO GIVE RECOGNITION TO OUTSTANDING INDIVIDUALS AND BUSINESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randolph Peers President & CEO | OfficerTrustee | 23 | $177,327 |
Ana Oliveira Chairman | OfficerTrustee | 1 | $0 |
Pasquale Patrone Treasurer | OfficerTrustee | 1 | $0 |
Susan Doban Secretary | OfficerTrustee | 1 | $0 |
Ali Esmailzadeh Member | Trustee | 1 | $0 |
Bradley Korn Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $275,846 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $284,346 |
| Total Program Service Revenue | $596,147 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $920,544 |
| 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. | $169,843 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $168,405 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $595 |
| Payroll taxes | $22,236 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,982 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $173,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,712 |
| Advertising and promotion | $0 |
| Office expenses | $13,655 |
| Information technology | $2,071 |
| Royalties | $0 |
| Occupancy | $5,351 |
| Travel | $13,450 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $21,801 |
| Interest | $17,372 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,305 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $643,860 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $167,049 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $31,200 |
| 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 | $3,330 |
| Net Land, buildings, and equipment | $11,467 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $389,479 |
| Total assets | $602,525 |
| Accounts payable and accrued expenses | $203,002 |
| Grants payable | $0 |
| Deferred revenue | $242,362 |
| 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 | $445,364 |
| Net assets without donor restrictions | $157,161 |
| 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 | $602,525 |