Association Of Chamber Of Commerce Executives Foundation
- Assets
- $1.5m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Alexandria, VA
- Founding
- 05/1990
- Data as of
- 03/2023
- EIN
- 23-7204514
Organization Overview
Association Of Chamber Of Commerce Executives Foundation is located in Alexandria, VA. The organization was established in 1990. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Association Of Chamber Of Commerce Executives Foundation 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 03/2023, Association Of Chamber Of Commerce Executives Foundation generated $1.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.4%) each year. All expenses for the organization totaled $1.2m during the year ending 03/2023. As we would expect to see with falling revenues, expenses have declined by (1.0%) 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ESTABLISH COMMITTEES OR ASSOCIATIONS TO DEVELOP AND PROMOTE EDUCATIONAL ACTIVITIES IN CONNECTION WITH COMMUNITY GROWTH AND ITS ASSOCIATED PROBLEMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LUMINA - THE PURPOSE OF THIS PROJECT IS TO BRING TOGETHER CHAMBERS OF COMMERCE, COMMUNITY COLLEGES AND COMMUNITY-BASED ORGANIZATIONS THAT DIRECTLY REPRESENT COMMUNITIES OF COLOR TO DEVELOP AND DRIVE THE GROWTH OF CREDENTIALING AND DEGREE PROGRAMS IN THEIR REGIONS WITH THE ULTIMATE GOAL OF PLACING LOW-INCOME WORKERS, PARTICULARLY BIPOC WORKERS, IN WELL-PAID JOBS WITH OPPORTUNITIES FOR CAREER ADVANCEMENT. THIS GRANT WILL SUPPORT UP TO EIGHT PARTNERSHIPS BETWEEN LOCAL OR REGIONAL CHAMBERS OF COMMERCE AND COMMUNITY COLLEGES TO EXPAND EMPLOYMENT-ALIGNED CREDENTIAL ATTAINMENT FOR ADULTS OF COLOR.KRESGE - THE PURPOSE OF THIS PROJECT IS TO MOBILIZE COLLECTIVE ACTION TO CONNECT URBAN HIGHER EDUCATION ECOSYSTEM COMMUNITY STAKEHOLDERS TO IMPROVE POSTSECONDARY SUCCESS AND TALENT DEVELOPMENT ALIGNED TO REGIONAL BUSINESS NEEDS AND TO IMPLEMENT PROFESSIONAL DEVELOPMENT THROUGHOUT THE NETWORK TO ELEVATE THE VALUE AND POTENTIAL FOR URBAN HIGHER EDUCATION ECOSYSTEMS AS AN ECONOMIC RECOVERY TOOL IN THE WAKE OF COVID-19.ASCENDIUM - SUPPORT ACCEF IN WORKING WITH UP TO 12 RURAL CHAMBERS OF COMMERCE TO LEARN HOW TO BRING LOCAL COMMUNITY PARTNERS TOGETHER TO PROVIDE RURAL LEARNERS AND WORKERS FROM LOW-INCOME BACKGROUNDS WITH THE TRAINING NEEDED TO ACCESS WELL-PAYING HIGH-DEMAND JOB.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ian Fletcher Chair | OfficerTrustee | 1 | $0 |
Cecilia Harry Chair-Elect/treasurer | OfficerTrustee | 1 | $0 |
Alisha Benson Director | Trustee | 1 | $0 |
Bob Dubois Director | Trustee | 1 | $0 |
Scott Hall Director | Trustee | 1 | $0 |
Donny Jones Director | Trustee | 1 | $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 | $1,174,219 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,174,219 |
| Total Program Service Revenue | $39,925 |
| Investment income | $133 |
| 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 | $1,214,277 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $28,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $415,664 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $14,674 |
| Payroll taxes | $28,835 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,806 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $655,517 |
| Advertising and promotion | $12,371 |
| Office expenses | $7,024 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $14,884 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,824 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,206,058 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,484,413 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,250 |
| 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 | $16,812 |
| 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 | $1,507,475 |
| Accounts payable and accrued expenses | $16,568 |
| Grants payable | $0 |
| Deferred revenue | $1,081,646 |
| 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 | $156,664 |
| Total liabilities | $1,254,878 |
| Net assets without donor restrictions | $252,597 |
| 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 | $1,507,475 |
Grants Awarded
Over the last fiscal year, Association Of Chamber Of Commerce Executives Foundation has awarded $24,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
PUBLIC POLICY INSTITUTE OF NEW YORK STATE INC PURPOSE: EDUCATION ATTAINMENT DIVISION AWARD | $4,000 |
GREATER AUSTIN CHAMBER OF COMMERCE PURPOSE: EDUCATION ATTAINMENT DIVISION AWARD | $4,000 |
CHARLESTON METRO CHAMBER OF COMMERCE INC PURPOSE: EDUCATION ATTAINMENT DIVISION AWARD | $4,000 |
JACKSONVILLE CHAMBER OF COMMERCE PURPOSE: EDUCATION ATTAINMENT DIVISION AWARD | $4,000 |
SPRINGFIELD AREA CHAMBER OF COMMERCE PURPOSE: EDUCATION ATTAINMENT DIVISION AWARD | $4,000 |
GREATER EL PASO CHAMBER OF COMMERCE PURPOSE: EDUCATION ATTAINMENT DIVISION AWARD | $4,000 |