Commerce Chenango Inc
- Assets
- $195.6k
- Revenue
- $733.6k
- Investments
- $0.0
- Employees
- 9
- Location
- Norwich, NY
- Founding
- 03/1978
- Data as of
- 12/2022
- EIN
- 15-0402540
Organization Overview
Commerce Chenango Inc is located in Norwich, NY. The organization was established in 1978. 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 12/2022, Commerce Chenango Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Commerce Chenango 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, Commerce Chenango Inc generated $733.6k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $743.2k during the year ending 12/2022. While expenses have increased by 4.4% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SERVE OUR MEMBERS AND THE PEOPLE OF CHENANGO COUNTY THROUGH PARTNERSHIP WITH BUSINESSES AND ALL LEVELS OF GOVERNMENT, TO LEVERAGE RESOURCES FOR SUSTAINABLE ECONOMIC GROWTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ECONOMIC DEVELOPMENT - PROGRAMS TO PROVIDE ADMINISTRATIVE SERVICES TO NOT-FOR-PROFIT ORGANIZATIONS WHICH HAVE A SIMILAR MISSION TO COMMERCE CHENANGO. THE SERVICES MAY INCLUDE, BUT ARE NOT LIMITED TO, PERSONNEL MANAGEMENT, FISCAL MANAGEMENT, AND USE OF OFFICE FACILITIES.
MEMBERSHIP SERVICES
TOURISM - MEMBERSHIP PROGRAMS DESIGNED TO PROMOTE MEMBER ORGANIZATIONS, THE ECONOMIC WELL-BEING OF THE COMMUNITY, AND THE NATURAL BEAUTY OF CHENANGO COUNTY, ADMINISTRATION OF "I LOVE NEW YORK" GRANT AND NEW YORK TOURISM GRANTS.
SPECIAL EVENTS - MEMBER PROGRAMS DESIGNED TO PROMOTE COMMUNITY AND NETWORKING OPPORTUNITIES FOR MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Burton Director | Trustee | 1 | $0 |
Mary Branham Director | Trustee | 0.5 | $0 |
George Seneck Director | Trustee | 0.5 | $0 |
Shane Butler Director | Trustee | 1 | $0 |
Kurt Edwards Treasurer | OfficerTrustee | 1 | $0 |
Missy Beers Director | Trustee | 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 | $703,523 |
| Investment income | $46 |
| 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 | $733,569 |
| 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. | $66,623 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $219,252 |
| Pension plan accruals and contributions | $1,660 |
| Other employee benefits | $18,326 |
| Payroll taxes | $23,644 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $52,832 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,054 |
| Advertising and promotion | $161,498 |
| Office expenses | $15,471 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $27,957 |
| Travel | $6,335 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $36,195 |
| Interest | $7,304 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,773 |
| Insurance | $3,711 |
| All other expenses | $10,372 |
| Total functional expenses | $743,167 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $61,961 |
| Savings and temporary cash investments | $37,199 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,276 |
| 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 | $8,985 |
| Net Land, buildings, and equipment | $84,191 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $195,612 |
| Accounts payable and accrued expenses | $15,385 |
| Grants payable | $0 |
| Deferred revenue | $2,413 |
| 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 | $7,103 |
| Unsecured mortgages and notes payable | $147,914 |
| Other liabilities | $0 |
| Total liabilities | $172,815 |
| Net assets without donor restrictions | -$73,474 |
| Net assets with donor restrictions | $96,271 |
| 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 | $195,612 |