Brooklyn Chamber Of Commerce Inc
- Assets
- $2.2m
- Revenue
- $704.9k
- Investments
- $0.0
- Employees
- 15
- Location
- Brooklyn, NY
- Founding
- 05/1933
- Data as of
- 12/2019
- 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 12/2019, Brooklyn Chamber Of Commerce Inc employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 12/2019, Brooklyn Chamber Of Commerce Inc generated $704.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (10.8%) each year. All expenses for the organization totaled $1.0m during the year ending 12/2019. As we would expect to see with falling revenues, expenses have declined by (3.9%) per year over the past 5 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
BROOKYLN CHAMBER OF COMMERCE'S PRIMARY PURPOSE IS TO ASSIST BROOKLYN BUSINESSES BY PROVIDING SERVICES, INCLUDING MARKETING, EDUCATION AND ADVOCACY, IN WAYS THAT PROMOTE COMMERCE AND STIMULATE 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 INFORANTION 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 |
|---|---|---|---|
Samara Karasyk Evp & Chief Policy Officer | Officer | 20 | $80,175 |
Hector Batista President & CEO (outgoing) | OfficerTrustee | 20 | $74,600 |
Randolph Peers President & CEO (as Of 9/19) | OfficerTrustee | 20 | $69,231 |
Chandraban Motilall Chief Financial Officer | Officer | 20 | $34,238 |
Richard Russo Chief Operating Officer | Officer | 20 | $32,000 |
Susan Doban Secretary | OfficerTrustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| 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 | $0 |
| Total Program Service Revenue | $570,958 |
| Investment income | $17 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $118,283 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $704,940 |
| 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. | $304,644 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $105,823 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $17,878 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,296 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $148,238 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $49,390 |
| Advertising and promotion | $0 |
| Office expenses | $21,529 |
| Information technology | $10,839 |
| Royalties | $0 |
| Occupancy | $108,458 |
| Travel | $41,709 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $94,965 |
| Interest | $2,832 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,121 |
| Insurance | $10,226 |
| All other expenses | $16,165 |
| Total functional expenses | $1,023,350 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,540 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $164,811 |
| 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 | $9,303 |
| Net Land, buildings, and equipment | $19,112 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,947,083 |
| Total assets | $2,170,849 |
| Accounts payable and accrued expenses | $133,574 |
| Grants payable | $0 |
| Deferred revenue | $37,000 |
| 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 | $95,549 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,511,182 |
| Total liabilities | $1,777,305 |
| Net assets without donor restrictions | $393,544 |
| 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 | $2,170,849 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Brooklyn Chamber Of Commerce Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
New York-Presbyterian Brooklyn Methodist Brooklyn, NY PURPOSE: Support | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Northeast Gas Association Inc Needham, MA | $14,183,913 | $18,443,447 |
Northeast Power Coordinating Council Inc New York, NY | $11,094,660 | $16,376,205 |
American Association Of Advertising Agencies Inc New York, NY | $14,512,633 | $14,312,975 |
Better Health For Northeast New York Inc Albany, NY | $41,654,163 | $23,403,611 |
Acord Corporation Pearl River, NY | $52,865,395 | $22,416,354 |
Greater New York Automobile Dealers Association Whitestone, NY | $68,368,765 | $15,714,932 |
National Kitchen & Bath Assoc Hackettstown, NJ | $26,972,344 | $15,413,085 |
Philadelphia Industrial Development Corp Philadelphia, PA | $25,920,556 | $11,621,333 |
Private Label Manufacturers Association New York, NY | $27,222,112 | $13,417,731 |
Loan Syndications And Trading Association Inc New York, NY | $29,536,063 | $14,969,883 |
Chartered Alternative Investment Analyst Association Inc Amherst, MA | $9,263,798 | $10,943,874 |
Ieee Industry Standards And Technology Organization Inc Piscataway, NJ | $11,462,343 | $11,000,348 |