Greater Akron Chamber Of Commerce
- Assets
- $2.9m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 18
- Location
- Akron, OH
- Founding
- 08/1975
- Data as of
- 12/2021
- EIN
- 34-1156576
Organization Overview
Greater Akron Chamber Of Commerce is located in Akron, OH. The organization was established in 1975. 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 12/2021, Greater Akron Chamber Of Commerce employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Akron Chamber Of Commerce 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 12/2021, Greater Akron Chamber Of Commerce generated $3.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $3.3m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE BUSINESS IN THE TRI-COUNTY AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE GREATER AKRON CHAMBER OF COMMERCE IS ORGANIZED PRINCIPALLY TO PROMOTE, ENCOURAGE AND STIMULATE THE GROWTH, DEVELOPMENT AND PROSPERITY OF BUSINESS IN THE TRI-COUNTY AREA OF SUMMIT, MEDINA AND PORTAGE COUNTIES IN THE STATE OF OHIO.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Millard President | OfficerTrustee | 40 | $343,566 |
Brynn Popa Sr Vp, Strategic Initiativ | 40 | $169,357 | |
Robert Dejournette Vp, Opportunity & Inclusio | 40 | $133,041 | |
Greg Cramer Vp, Economic Development | 40 | $129,456 | |
Timothy M Burke Trustee | Trustee | 1 | $0 |
Laura B Culp Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,708,510 |
| Fundraising events | $0 |
| Related organizations | $364,092 |
| Government grants | $795,358 |
| All other contributions, gifts, grants, and similar amounts not included above | $22,736 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,890,696 |
| Total Program Service Revenue | $744,706 |
| Investment income | $637 |
| 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 | $3,638,638 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $114,900 |
| 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. | $890,740 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $822,882 |
| Pension plan accruals and contributions | $33,126 |
| Other employee benefits | $104,337 |
| Payroll taxes | $111,350 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $59,798 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $435,005 |
| Advertising and promotion | $34,085 |
| Office expenses | $140,753 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $180,406 |
| Travel | $8,126 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,149 |
| Interest | $31,900 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $46,469 |
| Insurance | $15,167 |
| All other expenses | $14,041 |
| Total functional expenses | $3,327,155 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,025,796 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $430,501 |
| 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 | $47,090 |
| Net Land, buildings, and equipment | $413,455 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $14,669 |
| Total assets | $2,931,511 |
| Accounts payable and accrued expenses | $231,325 |
| Grants payable | $0 |
| Deferred revenue | $694,252 |
| 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 | $282,167 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $473,162 |
| Total liabilities | $1,680,906 |
| Net assets without donor restrictions | $1,250,605 |
| 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 | $2,931,511 |
Grants Awarded
Over the last fiscal year, Greater Akron Chamber Of Commerce has awarded $175,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Cleveland, OH PURPOSE: TO FURTHER THE CHARIATABLE PURPOSE OF THE ORGANIZATION | $100,000 |
Akron, OH PURPOSE: TO FURTHER THE CHARIATABLE PURPOSE OF THE ORGANIZATION | $75,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Greater Akron Chamber Of Commerce has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
United Way Of Summit And Medina Akron, OH PURPOSE: GRANT ALLOCATIONS | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Leap Lansing, MI | $5,631,252 | $15,493,708 |
Greater Cleveland Partnership Cleveland, OH | $36,035,820 | $14,402,868 |
Philadelphia Industrial Development Corp Philadelphia, PA | $40,435,799 | $13,493,986 |
Board Of Certified Safety Professionals Of The Americas Inc Indianapolis, IN | $35,079,358 | $17,695,377 |
The Right Place Inc Grand Rapids, MI | $10,135,241 | $14,178,677 |
Pocono Mountains Vacation Bureau Inc Stroudsburg, PA | $11,737,684 | $15,325,542 |
Central Indiana Corporate Partnership Inc Indianapolis, IN | $8,694,724 | $11,696,503 |
National Kitchen & Bath Assoc Bethlehem, PA | $28,104,693 | $9,331,415 |
Automotive Industry Action Group Southfield, MI | $14,204,782 | $10,849,803 |
Detroit Regional Chamber Foundation Inc Detroit, MI | $6,324,468 | $12,985,195 |
Detroit Regional Chamber Detroit, MI | $15,593,687 | $11,203,489 |
Custom Electronic Design & Installation Association Fishers, IN | $40,806,745 | $4,400,829 |