New York Womens Chamber Of Commerce Inc
- Assets
- $832.0k
- Revenue
- $609.0k
- Investments
- $0.0
- Employees
- 9
- Location
- New York, NY
- Founding
- 12/2005
- Data as of
- 06/2021
- EIN
- 14-1845651
Organization Overview
New York Womens Chamber Of Commerce Inc is located in New York, NY. The organization was established in 2005. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2021, New York Womens Chamber Of Commerce Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New York Womens Chamber Of Commerce Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, New York Womens Chamber Of Commerce Inc generated $609.0k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.7% each year . All expenses for the organization totaled $658.4k during the year ending 06/2021. While expenses have increased by 7.3% per year over the past 6 years. They've been increasing with an increasing level of total revenue. 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
THE NEW YORK WOMEN'S CHAMBER OF COMMERCE IS A NOT-FOR-PROFIT CHARITABLE 501(C) (3) TAX EXEMPT ORGANIZATION DEDICATED TO ASSISTING WOMEN, AND OTHER DISADVANTAGED MINORITIES ACHIEVE SUCCESS AND ECONOMIC INDEPENDENCE THROUGH SMALL BUSINESS, MICRO-ENTERPRISE OWNERSHIP AND SELF-EMPLOYMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MINORITY AND WOMEN BUSINESS ENTERPRISE (MWBE) ASSISTS FIRMS TO INCREASE THEIR BUSINESS CAPACITY AND ABILITY TO COMPETE FOR CONTRACTING OPPORTUNITIES. SECURE THE PARTICIPATION OF ELIGIBLE MINORITY AND WOMEN OWNED FIRMS AS WELL AS LOCAL BUSINESSES IN PUBLIC AND PRIVATE PROCUREMENT AND OTHER OPPORTUNITIES. SECURE THE PARTICIPATION OF LOCAL RESIDENTS IN EMPLOYMENT OPPORTUNITIES AVALIABLE THROUGH DEVELOPMENT AND REDEVELOPMENT PROJECTS.
WOMEN'S MICROENTERPRISE INSTITUTE (WMI) ASSISTS IMMIGRANT WOMEN, AS WELL AS OTHER DISADVANTAGED WOMEN TO BECOME ECONOMICALLY SELF SUFFICIENT BY TEACHING AND ASSISTING THEM START, MANAGE AND GROW A SUCCESSFUL MICROENTERPRISE VENTURE. WMI PROVIDES THE NECESSARY EDUCATIONAL PROGRAMS, RESOUCES AND SUPPORT TO DISADVANTAGED START UP, EXISTING AND ASPIRING WOMEN MICROENTERPRISES INCLUDING HOME-BASED BUSINESSES, CHILDCARE PROVIDERS, STREET VENDORS, RETAILERS, RESTAURANTS, BEAUTY SALONS, BARBERSHOPS, SERVICE AGENCIES AND OTHERS.
BUSINESS ATTRACTION AND RETENTION INITIATIVE PROVIDES BUSINESS TRAINING, COACHING AND MARKETING ASSISTANCE TO BUSINESSES LOCATED IN WEST HARLEM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Quenia Abreu President | OfficerTrustee | 50 | $84,808 |
Donald C Notice Treasurer | OfficerTrustee | 2 | $0 |
Lina Gottesman Chair | OfficerTrustee | 2 | $0 |
Vera Moore Board Member | Trustee | 2 | $0 |
Claire Scanlon Board Member | Trustee | 2 | $0 |
Maureen Murphy Arini Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $22,695 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $373,644 |
| All other contributions, gifts, grants, and similar amounts not included above | $195,983 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $592,322 |
| Total Program Service Revenue | $7,560 |
| Investment income | $125 |
| 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 | $609,007 |
| 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. | $90,000 |
| Compensation of current officers, directors, key employees. | $14,291 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $261,562 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $34,290 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,400 |
| Fees for services: Accounting | $10,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $116,826 |
| Advertising and promotion | $14,484 |
| Office expenses | $29,794 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $27,580 |
| Travel | $691 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $499 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,266 |
| Insurance | $2,507 |
| All other expenses | $42,074 |
| Total functional expenses | $658,400 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $438,776 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $385,008 |
| Accounts receivable, net | $0 |
| 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 | $3,488 |
| Net Land, buildings, and equipment | $4,357 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $365 |
| Total assets | $831,994 |
| Accounts payable and accrued expenses | $304,061 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $292,521 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,760 |
| Total liabilities | $607,342 |
| Net assets without donor restrictions | $192,308 |
| Net assets with donor restrictions | $32,344 |
| 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 | $831,994 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that New York Womens Chamber Of Commerce Inc has recieved totaling $658,205.
| Awarding Organization | Amount |
|---|---|
Citi Foundation New York, NY PURPOSE: SMALL BUSINESS TECHNICAL ASSISTANCE INITIATIVE | $500,000 |
Business Outreach Center Network Inc Brooklyn, NY PURPOSE: Open for Business Program | $127,189 |
Ponce De Leon Foundation Bronx, NY PURPOSE: FINANCIAL MANAGEMENT AND LOAN READINESS FOR WOMEN ENTREPRENEURS OF COLOR | $25,000 |
Local Initiatives Support Corporation New York, NY PURPOSE: SEE PART IV | $6,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $16 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
43north Bpc Inc Buffalo, NY | $13,425,800 | $3,001,464 |
Grameen America Inc Jackson Heights, NY | $237,127,552 | $50,248,348 |
Harristown Development Corporation Harrisburg, PA | $29,766,695 | $19,028,512 |
Homestart Inc Boston, MA | $5,713,584 | $14,864,192 |
The Community Action Agency Of Western Connecticut Inc Danbury, CT | $3,614,776 | $12,103,732 |
Massachusetts Manufacturing Extension Partnership Inc Auburn, MA | $5,456,400 | $10,807,956 |
Greater Jamaica Development Corp Jamaica, NY | $43,416,674 | $8,397,998 |
South Bronx Overall Economic Development Corporation Bronx, NY | $11,273,834 | $9,485,057 |
Dorchester Bay Economic Development Corporation Dorchester, MA | $50,118,730 | $16,286,134 |
National Basketball Association Foundation New York, NY | $26,984,536 | $31,000,000 |
Newark Downtown District Management Corporation Newark, NJ | $7,203,712 | $5,205,083 |
Rdc Commercial Center Inc Brooklyn, NY | $15,313,985 | $4,091,889 |