Chicagoland Chamber Of Commerce Foundation
- Assets
- $122.0k
- Revenue
- $336.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 01/1974
- Data as of
- 06/2022
- EIN
- 23-7334589
Organization Overview
Chicagoland Chamber Of Commerce Foundation is located in Chicago, IL. The organization was established in 1974. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chicagoland Chamber Of Commerce 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 06/2022, Chicagoland Chamber Of Commerce Foundation generated $336.7k 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 (4.4%) each year. All expenses for the organization totaled $339.9k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (1.3%) 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE CHAMBER FOUNDATION COORDINATES EDUCATIONAL RESOURCES, PROGRAMS, AND RESEARCH TO ADVANCE THE ACTIVITIES OF THE CHAMBER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SMALL BUSINESS DEVELOPMENT CENTER: GRANT TO HELP SMALL BUSINESSES START, GROW, OR EXPAND THEIR BUSINESS.
CHAMBER LEADERSHIP ACADEMY
NEIGHBORHOOD BUSINESS DEVELOPMENT CENTER: HELPS SMALL BUSINESSES IN CHICAGO TO GROW OR EXPAND THEIR BUSINESSES.
SMALL BUSINESS CHICAGO: PROVIDES SMALL BUSINESSES EDUCATION THROUGH SEMINARS TO HELP THEM IN THEIR BUSINESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jack Lavin President & CEO | OfficerTrustee | 0.1 | $0 |
Matthew Summy Vice President | OfficerTrustee | 0.1 | $0 |
Rich Gamble Chair | Trustee | 0.1 | $0 |
Jessica Smith Senior VP | Trustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $236,360 |
| Related organizations | $0 |
| Government grants | $201,827 |
| All other contributions, gifts, grants, and similar amounts not included above | $47,263 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $485,450 |
| Total Program Service Revenue | $0 |
| Investment income | $4 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$148,721 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $336,733 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $103,282 |
| Pension plan accruals and contributions | $782 |
| Other employee benefits | $8,898 |
| Payroll taxes | $7,985 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,905 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $126,239 |
| Advertising and promotion | $0 |
| Office expenses | $4,930 |
| Information technology | $21,325 |
| Royalties | $0 |
| Occupancy | $35,570 |
| Travel | $168 |
| 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 | $6,934 |
| Insurance | $1,154 |
| All other expenses | $4,340 |
| Total functional expenses | $339,863 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $59,263 |
| Savings and temporary cash investments | $6,400 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $46,919 |
| 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 | $1,200 |
| Net Land, buildings, and equipment | $8,185 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $121,967 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $17,737 |
| 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 | $27,412 |
| Total liabilities | $45,149 |
| Net assets without donor restrictions | $60,318 |
| Net assets with donor restrictions | $16,500 |
| 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 | $121,967 |