Sterling Heights Regional Chamber Of Commerce & Industry
- Assets
- $356.9k
- Revenue
- $505.6k
- Investments
- $0.0
- Employees
- 6
- Location
- Sterling Heights, MI
- Founding
- 03/1984
- Data as of
- 12/2022
- EIN
- 38-1987626
Organization Overview
Sterling Heights Regional Chamber Of Commerce & Industry is located in Sterling Heights, MI. The organization was established in 1984. 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 12/2022, Sterling Heights Regional Chamber Of Commerce & Industry employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sterling Heights Regional Chamber Of Commerce & Industry 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 12/2022, Sterling Heights Regional Chamber Of Commerce & Industry generated $505.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.7%) each year. All expenses for the organization totaled $486.4k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (4.2%) per year over the past 8 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
PRESERVING THE COMPETIVE ENTERPRISE SYSTEM OF BUSINESS BY: CREATING A BETTER UNDERSTANDING AND APPRECIATION OF THE IMPORTANCE OF BUSINESS PEOPLE AND A CONCERN FOR THEIR PROBLEMS; EDUCATING THE BUSINESS COMMUNITY AND REPRESENTING IT IN LOCAL, STATE AND NATIONAL MATTERS; HELPING PREVENT AND ADDRESSING CONTROVERSIES WHICH ARE DETRIMENTAL TO THE EXPANSION AND GROWTH OF COMMERCE AND THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRESERVING THE COMPETITIVE ENTERPRISE SYSTEM OF BUSINESS BY: CREATING A BETTER UNDERSTANDING AND APPRECIATION OF THE IMPORTANCE OF BUSINESS PEOPLE AND A CONCERN FOR THEIR PROBLEMS; EDUCATING THE BUSINESS COMMUNITY AND REPRESENTING IT IN LOCAL, STATE AND NATIONAL MATTERS; HELPING PREVENT AND ADDRESSING CONTROVERSIES WHICH ARE DETRIMENTAL TO THE EXPANSION AND GROWTH OF COMMERCE AND THE COMMUNITY.
PROMOTES COMMUNITY AND ECONOMIC GROWTH THROUGH INTERACTION OF COMMUNITY BUSINESS LEADERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stacy Ziarko Chamber Pres | Officer | 40 | $113,708 |
Ron Chriss Vice Chair | Officer | 3 | $0 |
Brent Freeman Treasurer | Officer | 5 | $0 |
Brad Lukas Chair | Officer | 3 | $0 |
Amy Persyn Chair Elect | Officer | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $260,309 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,734 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $270,043 |
| Total Program Service Revenue | $59,839 |
| Investment income | $2,423 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $173,287 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $505,592 |
| 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 | $113,708 |
| Other salaries and wages | $161,722 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $29,417 |
| Payroll taxes | $23,339 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $168 |
| Fees for services: Accounting | $5,799 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,850 |
| Advertising and promotion | $8,914 |
| Office expenses | $5,135 |
| Information technology | $20,860 |
| Royalties | $0 |
| Occupancy | $44,253 |
| Travel | $0 |
| 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 | $417 |
| Insurance | $7,568 |
| All other expenses | $5,360 |
| Total functional expenses | $486,390 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $187,952 |
| Savings and temporary cash investments | $164,952 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $3,967 |
| 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 | $356,871 |
| Accounts payable and accrued expenses | $4,573 |
| 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 | $4,950 |
| Total liabilities | $9,523 |
| 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 | $347,348 |
| Total liabilities and net assets/fund balances | $356,871 |