African American Chamber Of Commerce Of Western Pennsylvania
- Assets
- $501.4k
- Revenue
- $147.1k
- Investments
- $0.0
- Employees
- 4
- Location
- Pittsburgh, PA
- Founding
- 06/1999
- Data as of
- 09/2022
- EIN
- 25-1729192
Organization Overview
African American Chamber Of Commerce Of Western Pennsylvania is located in Pittsburgh, PA. The organization was established in 1999. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2022, African American Chamber Of Commerce Of Western Pennsylvania employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. African American Chamber Of Commerce Of Western Pennsylvania 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 09/2022, African American Chamber Of Commerce Of Western Pennsylvania generated $147.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (5.6%) each year. All expenses for the organization totaled $218.9k during the year ending 09/2022. As we would expect to see with falling revenues, expenses have declined by (0.5%) per year over the past 6 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 MISSION OF THE AFRICAN AMERICAN CHAMBER OF COMMERCE OF WESTERN PENNSYLVANIA IS TO CONTINUOUSLY IMPROVE BUSINESS AND PROFESSIONAL OPPORTUNITIES FOR AFRICAN AMERICAN BUSINESS OWNERS AND PROFESSIONALS. GUIDED BY THE CORE VALUES OF EQUITY IN OPPORTUNITY, ECONOMIC ADVANCEMENT, SELF-SUFFICIENCY AND ENTREPRENEURIAL EXCELLENCE, WE WILL SEEK TO ADVANCE ECONOMIC PARITY FOR THE AFRICAN AMERICAN BUSINESS COMMUNITY BY INSURING FULL PARTICIPATION IN THE PUBLIC AND PRIVATE SECTORS THROUGHOUT THE REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE AFRICAN AMERICAN CHAMBER OF COMMERCE HAS GROWN THE MEMBERSHIP FROM 28 PAID MEMBERS IN 1998 TO OVER 600 MEMBERS AS OF JANUARY 20, 2020, AND IS RANKED THE 9TH LARGEST CHAMBER IN THE REGION. THIS INCLUDES DEVELOPING A DIVERSE MEMBERSHIP OF AFRICAN AMERICANS, WHITES, HISPANICS, LATINOS, AND INDIANS. 74 CORPORATIONS SERVE AS SPONSORS OF THE ORGANIZATION. THESE SPONSORSHIPS CONTRIBUTE TO THE SUPPORT OF ONGOING FINANCIAL OPERATIONS. IN ADDITION, CORPORATIONS HAVE INSTRUCTED THEIR PROCUREMENT OFFICERS TO SEND BIDS AND PROPOSALS TO THE CHAMBER FOR DISTRIBUTION TO THE MEMBERSHIP. THE ORGANIZATION SERVES AS AN INFORMATION AND RESOURCE CENTER, AND CONDUCTS 'HOW TO DO BUSINESS WORKSHOPS'. THESE WORKSHOPS, HELD AT VARIOUS CORPORATE LOCATIONS, ARE DEVELOPED TO ENSURE THAT MEMBERS ARE AWARE OF COMPANY REQUIREMENTS, AND THE PROTOCOL FOR OBTAINING CONTRACTS. ON AVERAGE, OVER 4,200 REQUESTS ARE RECEIVED EACH YEAR FROM GOVERNMENT AND NONPROFITS TO DISTRIBUTE THEIR REQUESTS FOR PRODUCTS AND SERVICES.THE CHAMBER'S BUSINESS INSTITUTE, ESTABLISHED IN 2003, HAS HAD OVER 4,750 BUSINESS OWNERS AND PROFESSIONALS PARTICIPATE IN PROGRAMS TO STRENGTHEN THEIR BUSINESS ACUMEN IN THE AREAS OF FINANCE, LEGAL, INFORMATION TECHNOLOGY, AND MARKETING AND COMMUNICATIONS. THE CHAMBER ALSO SERVES AS THE ADVOCATE FOR MINORITY AND SMALL BUSINESS OWNERS ON SUCH ISSUES AS PUBLIC, LEGISLATIVE AND POLICY MATTERS THAT AFFECT ITS MEMBERSHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Samuel J Stephenson Chairman | OfficerTrustee | 4 | $0 |
Louis T Alexander Vice Chairman | OfficerTrustee | 2 | $0 |
Cheryl L Allen Treasurer | OfficerTrustee | 2 | $0 |
Ann Rucker Secretary | OfficerTrustee | 2 | $0 |
Caster Binion Director | Trustee | 2 | $0 |
Blayre Britton Director | Trustee | 2 | $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 | $146,625 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$3,319 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $147,139 |
| 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. | $44,324 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $83,049 |
| Pension plan accruals and contributions | $2,741 |
| Other employee benefits | $1,082 |
| Payroll taxes | $9,103 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,270 |
| Fees for services: Accounting | $3,129 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $696 |
| Advertising and promotion | $3,114 |
| Office expenses | $12,143 |
| Information technology | $6,178 |
| Royalties | $0 |
| Occupancy | $10,858 |
| Travel | $1,105 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $32,282 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $436 |
| Insurance | $1,190 |
| All other expenses | $0 |
| Total functional expenses | $218,889 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,522 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,534 |
| 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 | $2,387 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $479,980 |
| Total assets | $501,423 |
| Accounts payable and accrued expenses | $9,287 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $9,287 |
| Net assets without donor restrictions | $492,136 |
| 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 | $501,423 |