One Southcoast Chamber
- Assets
- $803.1k
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 13
- Location
- Fall River, MA
- Founding
- Data as of
- 12/2021
- EIN
- 84-3311136
Organization Overview
One Southcoast Chamber is located in Fall River, MA. 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, One Southcoast Chamber employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. One Southcoast Chamber 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, One Southcoast Chamber generated $1.6m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 28.7% each year . All expenses for the organization totaled $1.2m during the year ending 12/2021. While expenses have increased by 14.4% per year over the past 2 years. They've been increasing with an increasing level of total revenue. 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
THE CHAMBER IS ORGANIZED FOR THE PURPOSE OF ADVANCING THE ECONOMIC, INDUSTRIAL, PROFESSIONAL, CULTURAL AND CIVIC WELFARE OF THE GREATER FALL RIVER AREA IN ORDER TO ENCOURAGE THE GROWTH OF EXISTING BUSINESSES AND INDUSTRIES WHILE GIVING ALL PROPER ASSISTANCE TO NEW FIRMS OR INDIVIDUALS SEEKING TO LOCATE IN THE GREATER FALL RIVER AREA. THE CHAMBER FULFILLS ITS PURPOSE THROUGH PROVIDING NETWORKING, EDUCATIONAL, COST REDUCING AND REFERRALS SERVICES ALONG WITH ADVOCACY FOR THE BENEFIT OF THE MEMBERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ONE SOUTHCOAST CHAMBER, INC. WILL PROVIDE TECHNICAL ASSISTANCE AND NEEDED BUSINESS RELATED SERVICES TO THE DISTRESSED COMMUNITY THAT WE REPRESENT. OUR MEMBER BUSINESSES NEED US MORE THAN EVER BEFORE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frederick Kidder Co-Ceo | OfficerTrustee | 40 | $126,979 |
Michael O'sullivan Co-Ceo | OfficerTrustee | 40 | $117,615 |
Kim Perry President | OfficerTrustee | 1 | $0 |
Eileen Danahey Chair-Elect | OfficerTrustee | 1 | $0 |
Brian Lecomte Immediate Past Chair | OfficerTrustee | 1 | $0 |
Matthew Schondek Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $311,572 |
| All other contributions, gifts, grants, and similar amounts not included above | $122,646 |
| Noncash contributions included in lines 1a–1f | $18,282 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $434,218 |
| Total Program Service Revenue | $1,147,273 |
| Investment income | $185 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $18,765 |
| 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 | $1,607,262 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $128,059 |
| 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. | $255,382 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $440,525 |
| Pension plan accruals and contributions | $11,168 |
| Other employee benefits | $34,860 |
| Payroll taxes | $57,961 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $27,238 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,925 |
| Advertising and promotion | $32,383 |
| Office expenses | $58,855 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $54,128 |
| Travel | $11,807 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $84,018 |
| Interest | $2,730 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,598 |
| Insurance | $1,827 |
| All other expenses | $33,452 |
| Total functional expenses | $1,243,916 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $264,291 |
| Savings and temporary cash investments | $298,122 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $82,163 |
| 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 | $12,833 |
| Net Land, buildings, and equipment | $134,086 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $904 |
| Other assets | $10,750 |
| Total assets | $803,149 |
| Accounts payable and accrued expenses | $57,350 |
| Grants payable | $0 |
| Deferred revenue | $47,525 |
| 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 | $8,750 |
| Total liabilities | $113,625 |
| Net assets without donor restrictions | $689,524 |
| 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 | $803,149 |
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|---|---|---|
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American Association Of Advertising Agencies Inc New York, NY | $18,840,338 | $16,325,912 |
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Global Seafood Alliance Inc Portsmouth, NH | $16,114,958 | $17,110,603 |
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Loan Syndications And Trading Association Inc New York, NY | $32,443,554 | $12,995,504 |
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