Chamber Of Commerce Of The City Of Yonkers
- Assets
- $489.8k
- Revenue
- $443.6k
- Investments
- $0.0
- Employees
- 8
- Location
- Yonkers, NY
- Founding
- 10/1944
- Data as of
- 12/2021
- EIN
- 13-1738023
Organization Overview
Chamber Of Commerce Of The City Of Yonkers is located in Yonkers, NY. The organization was established in 1944. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Chamber Of Commerce Of The City Of Yonkers employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chamber Of Commerce Of The City Of Yonkers 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, Chamber Of Commerce Of The City Of Yonkers generated $443.6k 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 (17.1%) each year. All expenses for the organization totaled $517.1k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (15.1%) 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SERVING THE CITIZENS & MERCHANTS OF THE CITY OF YONKERS BY DEVELOPING JOBS & COMMERCE THROUGH THE COMMUNITY & PROVIDE TRAINING PROGRAMS FOR YOUTHS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE YONKERS CHAMBER OF COMMERCE PROVIDES PRE-EMPLOYMENT SERVICES FOR PERSONS OF LOWER AND MODERATE INCOME, TO HELP FACILITATE SELF-SUFFICIENCY AND ECONOMIC INDEPENDENCE. THE INTERNSHIP PROGRAM ASSISTS HIGH SCHOOL JUNIORS AND SENIORS, AS WELL AS COLLEGE FRESHMAN IN ENTERING A PROFESSIONAL WORK ENVIRONMENT. THE YCC WORKED ON THE MEDICAID EXPANSION PROGRAM FOR WESTCHESTER COUNTY, TO OFFER LOW OR NO COST MEDICAL INSURANCE COVERAGE TO INDIVIDUALS AND FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Cacace President | Officer | 35 | $48,750 |
Thomas Mcspedon Treasurer | OfficerTrustee | 1 | $0 |
Howard E Berman Chairman | OfficerTrustee | 1 | $0 |
Paul Ranieri Vice-Chairman | OfficerTrustee | 1 | $0 |
John Acciavatti Board Member | Trustee | 1 | $0 |
Patrick Daugherty Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $6,485 |
| Related organizations | $0 |
| Government grants | $385,918 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,875 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $394,278 |
| Total Program Service Revenue | $32,280 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $16,500 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$657 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $443,584 |
| 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. | $48,750 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $253,248 |
| Pension plan accruals and contributions | $7,109 |
| Other employee benefits | $20,450 |
| Payroll taxes | $29,543 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,275 |
| Advertising and promotion | $0 |
| Office expenses | $12,229 |
| Information technology | $10,931 |
| Royalties | $0 |
| Occupancy | $52,314 |
| Travel | $1,606 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,443 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,081 |
| Insurance | $8,244 |
| All other expenses | $0 |
| Total functional expenses | $517,090 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,087 |
| Savings and temporary cash investments | $12,660 |
| Pledges and grants receivable | $445,708 |
| Accounts receivable, net | $13,541 |
| 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 | $12,756 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,000 |
| Total assets | $489,752 |
| Accounts payable and accrued expenses | $276,792 |
| Grants payable | $0 |
| Deferred revenue | $19,800 |
| 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 | $117,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $69,000 |
| Total liabilities | $482,592 |
| Net assets without donor restrictions | $7,160 |
| 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 | $489,752 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Action Committee Of The Lehigh Valley Inc Bethlehem, PA | $24,914,072 | $40,517,893 |
Nyc & Company Inc New York, NY | $15,500,744 | $29,142,880 |
Real Estate Board Of New York Inc New York, NY | $13,608,943 | $14,285,773 |
Philadelphia Convention & Visitors Bureau Of The Chamber Of Commerce Philadelphia, PA | $21,636,489 | $20,955,897 |
The Chamber Of Commerce For Greater Philadelphia Philadelphia, PA | $17,253,411 | $11,743,354 |
United States Council For International Business New York, NY | $8,377,861 | $9,810,410 |
New Jersey Association Of Realtors Trenton, NJ | $35,262,029 | $9,547,353 |
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German American Chamber Of Commerce Inc New York, NY | $3,820,432 | $6,890,973 |
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Lake Placid Chamber Of Commerce Inc Lake Placid, NY | $4,857,333 | $6,938,582 |
Economic Development Council Of Western Massachusetts Inc Springfield, MA | $1,229,213 | $5,047,431 |