Corridor 9 495 Regional Chamber Of Commerce Inc
- Assets
- $330.2k
- Revenue
- $549.3k
- Investments
- $0.0
- Employees
- 4
- Location
- Westborough, MA
- Founding
- 06/2003
- Data as of
- 06/2022
- EIN
- 22-3887369
Organization Overview
Corridor 9 495 Regional Chamber Of Commerce Inc is located in Westborough, MA. The organization was established in 2003. 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 06/2022, Corridor 9 495 Regional Chamber Of Commerce Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Corridor 9 495 Regional 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 06/2022, Corridor 9 495 Regional Chamber Of Commerce Inc generated $549.3k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 17.2% each year . All expenses for the organization totaled $368.1k during the year ending 06/2022. While expenses have increased by 3.6% per year over the past 2 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
THE MISSION OF THE CORRIDOR 9/495 REGIONAL CHAMBER OF COMMERCE IS TO BE A DYNAMIC REGIONAL BUSINESS ORGANIZATION STRIVING TO PROMOTE GROWTH, PROSPERITY AND QUALITY OF LIFE FOR OUR MEMBERS AND COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BUSINESS AFTER HOURS TO PROMOTE BUSINESS MEMBERS OF THE ORGANIZATION
BUSINESS FOWARD FEMALES PROGRAMS TO ASSIST WOMEN IN PROMOTING BUSINESS
VIRTUAL JOB FAIR TO ASSIST BUSINESSES IN PROCURING A TALENTED WORK FORCE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen J Chapman President | Officer | 40 | $117,828 |
Rebecca Roman Immediate Past Chair | OfficerTrustee | 1 | $0 |
Pamela S Stevens Chair | OfficerTrustee | 4 | $0 |
Steven Roach Chair Elect | OfficerTrustee | 2 | $0 |
Paul F Mcgrath Assistant Treasurer | OfficerTrustee | 1 | $0 |
David D Bagdon Member At Large | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $166,399 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $122,460 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,983 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $298,842 |
| Total Program Service Revenue | $245,914 |
| Investment income | $93 |
| 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 | $4,500 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $549,349 |
| 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. | $117,828 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $66,442 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $17,399 |
| Payroll taxes | $13,651 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,410 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $35,471 |
| Advertising and promotion | $0 |
| Office expenses | $8,887 |
| Information technology | $15,522 |
| Royalties | $0 |
| Occupancy | $36,018 |
| Travel | $360 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,928 |
| All other expenses | $26,394 |
| Total functional expenses | $368,114 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $272,599 |
| Savings and temporary cash investments | $23,129 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $34,464 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $330,192 |
| Accounts payable and accrued expenses | $20,650 |
| Grants payable | $25,122 |
| Deferred revenue | $11,157 |
| 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 | $231 |
| Total liabilities | $57,160 |
| Net assets without donor restrictions | $0 |
| 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 | $273,032 |
| Total liabilities and net assets/fund balances | $330,192 |