Montgomery County Chamber Of Commerce
- Assets
- $1.7m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 16
- Location
- Rockville, MD
- Founding
- 10/1981
- Data as of
- 06/2022
- EIN
- 52-0735621
Organization Overview
Montgomery County Chamber Of Commerce is located in Rockville, MD. The organization was established in 1981. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Montgomery County Chamber Of Commerce employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Montgomery County 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 06/2022, Montgomery County Chamber Of Commerce generated $2.1m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.0%) each year. All expenses for the organization totaled $2.4m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (0.5%) 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
SEE PART III, LINE 1.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHAMBER EVENTS:THE CHAMBER SPONSORS SEVERAL EVENTS THROUGHOUT THE YEAR. IN FY22, EVENTS HELD WERE THE BUSINESS AWARDS BROADCAST, A PUBLIC SAFETY AWARDS BROADCAST AND AN IN-PERSON ANNUAL DINNER . TABLE SPONSORS ON BROADCASTED EVENTS WERE CONVERTED TO PRODUCTION SPONSORS ALONG WITH THE AWARD SPONSORS.
MEMBERSHIP:A LIST OF CHAMBER MEMBERSHIP FOR USE BY OTHER MEMBERS OF THE CHAMBER.
LEGISLATIVE AFFAIRS AND ADVOCACY
COMMUNICATIONS AND MARKETING--PROVIDES EVENT SPONSORS WITH COLLATERAL USED FOR BRADCAST PRODUCTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Georgette Godwin President & CEO | OfficerTrustee | 50 | $321,437 |
Cecilia Vergara CFO | Officer | 30 | $146,426 |
Barbara Ashe Executive Vice President | Officer | 10 | $67,448 |
Lowell Yoder Board Chair | OfficerTrustee | 1 | $0 |
David Hargadon Co-Chair Treasurer | OfficerTrustee | 1 | $0 |
Annice Cody Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $42,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $97,150 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $139,150 |
| Total Program Service Revenue | $1,975,810 |
| Investment income | $719 |
| 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 | $2,115,679 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,400 |
| 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. | $642,950 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $536,129 |
| Pension plan accruals and contributions | $10,024 |
| Other employee benefits | $20,626 |
| Payroll taxes | $70,565 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,012 |
| Fees for services: Lobbying | $65,025 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $89,163 |
| Advertising and promotion | $0 |
| Office expenses | $79,014 |
| Information technology | $62,368 |
| Royalties | $0 |
| Occupancy | $209,786 |
| Travel | $1,612 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $474,989 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $33,943 |
| Insurance | $6,899 |
| All other expenses | $0 |
| Total functional expenses | $2,352,224 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,142,553 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $242,375 |
| 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 | $66,686 |
| Net Land, buildings, and equipment | $76,756 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $185,674 |
| Total assets | $1,714,044 |
| Accounts payable and accrued expenses | $520,914 |
| Grants payable | $0 |
| Deferred revenue | $282,725 |
| 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 | $299,897 |
| Total liabilities | $1,103,536 |
| Net assets without donor restrictions | $610,508 |
| 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 | $1,714,044 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Montgomery County Chamber Of Commerce has recieved totaling $7,500.
| Awarding Organization | Amount |
|---|---|
Johns Hopkins University Baltimore, MD PURPOSE: CONTRIBUTIONS | $7,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Philadelphia Convention & Visitors Bureau Of The Chamber Of Commerce Philadelphia, PA | $21,636,489 | $20,955,897 |
Williamsburg Area Chamber Of Commerce Williamsburg, VA | $14,757,466 | $13,076,106 |
House Majority Forward Washington, DC | $4,051,593 | $12,002,258 |
The Chamber Of Commerce For Greater Philadelphia Philadelphia, PA | $17,253,411 | $11,743,354 |
Naiop Inc Herndon, VA | $24,051,800 | $11,820,157 |
Association Of Small Business Development Centers Burke, VA | $3,386,085 | $9,990,521 |
Real Estate Roundtable Inc Washington, DC | $4,544,529 | $7,445,927 |
American Seed Trade Association Alexandria, VA | $7,353,007 | $6,785,185 |
Virginia Association Of Realtors Richmond, VA | $25,601,642 | $9,283,805 |
Professional Services Council Inc Arlington, VA | $6,239,213 | $6,315,119 |
US Chamber Litigation Center Washington, DC | $0 | $3,618,584 |
Information Technology Andinnovation Foundation Washington, DC | $12,416,644 | $7,013,255 |