Corona Chamber Of Commerce
- Assets
- $531.7k
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 10
- Location
- Corona, CA
- Founding
- 08/1987
- Data as of
- 12/2022
- EIN
- 95-0651175
Organization Overview
Corona Chamber Of Commerce is located in Corona, CA. The organization was established in 1987. 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, Corona Chamber Of Commerce employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Corona 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 12/2022, Corona Chamber Of Commerce generated $1.3m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $1.3m during the year ending 12/2022. While expenses have increased by 5.7% per year over the past 5 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND ENCOURAGE BUSINESS IN THE CITY OF CORONA
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORONA CHAMBER CONTINUES TO BE THE AUTHORITATIVE VOICE THAT ADVOCATES AND REPRESENTS CORONA BUSINESS INTERESTS AND THEIR VIEWPOINTS ON ISSUES AFFECTING THE GREATER CORONA COMMUNITY. THE CORONA CHAMBER IS A CATALYST FOR BUSINESS GROWTH; WE PROVIDE CONNECTIONS TO BUSINESS PROSPECTS, NETWORKING OPPORTUNITIES AND RELATIONSHIPS IN A FRIENDLY, REFERRAL-BASED ENVIRONMENT, ACCESS TO BUSINESS RESOURCES INFORMATION, AND TRAINING TO SUPPORT THE GROWTH AND PROFESSIONAL DEVELOPMENT OF OUR BUSINESS COMMUNITY AND ITS EMPLOYEES, SAVINGS ON PRODUCTS AND SERVICES THROUGH MEMBER-ONLY BENEFITS, CONVENER OF LEADERS & INFLUENCERS THROUGH OUR ADVOCACY: ADVOCACY REPRESENTATION WITH ELECTED OFFICIALS, POLICY MAKERS, AND BUSINESS LEADERS ON LOCAL, REGIONAL, STATE, AND FEDERAL PLATFORMS. INFLUENCE OVER ISSUES THAT DIRECTLY IMPACT BUSINESS. COLLABORATIONS OF BUSINESS AND COMMUNITY LEADERS TO IDENTIFY AND SOLVE CHALLENGES, CHAMPION FOR A STRONGER COMMUNITY: INSPIRE SMART PLANNING DECISIONS FOR LONG-TERM COMMUNITY SUSTAINABILITY, IDENTIFY STRATEGIC PARTNERSHIPS TO BENEFIT BUSINESS RETENTION.
THE CORONA CHAMBER SERVES THE BUSINESS COMMUNITY BY PROMOTING QUALITY SERVICES TO THE COMMUNITY AND AREA BUSINESSES DESIGNED TO PROMOTE AND PUBLICIZE THE CITY, STIMULATE COMMERCE, ATTRACT AND SERVE THE NEEDS OF NEW BUSINESSES AND INSTITUTIONS, BEAUTIFY THE CORONA AREA, ASSIST WITH FAIRS, FESTIVALS AND EVENTS THAT CELEBRATE CORONA'S RICH HISTORY AND DIVERSE COMMUNITY, SUPPORT EDUCATION, RETAIN ESTABLISHED BUSINESSES, ADVOCATE LEGISLATION, ENHANCE HEALTH AND SAFETY, IMPROVE RELATIONSHIPS WITH LOCAL GOVERNMENT, TRAIN NEW LEADERS, CHAMPION THE ADVANCEMENT OF WOMEN AND MINORITIES AND PROMOTE THE DEVELOPMENT OF NEW TECHNOLOGY. THE CORONA CHAMBER SPONSORS AND CONDUCTS ANNUAL COMMUNITY EVENTS INCLUDING: STATE OF THE CITY - MAYOR'S EVENT; BUSINESS EXPO; CAREER DAY; SALUTE TOT HE MILITARY; HONORING OUR LOCAL HEROES; GOLF TOURNAMENT; LABOR LAW SEMINAR: CURRENT ISSUES ON NEW LAWS SEMINAR; LUNCH AND LEARN SESSIONS; WOMEN'S LEADERSHIP CONFERENCE AND AN ANNUAL FUND RAISER FOR THE CHAMBER LEGISLATIVE ADVOCACY OUTREACH.
FOCUSED ON FUTURE WORKFORCE, THE CORONA CHAMBER IS DEVELOPING THE WORKFORCE IN KEY INDUSTRIES, EDUCATION PROGRAMS IN NUMEROUS OUTREACHES - THROUGH OUR ON-SITE VISITS TO THE VARIOUS HIGH SCHOOLS TO OUR COMBINED CAREER DAY ACTIVITIES. WE HAVE BECOME INVOLVED AND SUPPORTIVE OF THE STEM ACADEMY (SCIENCE, TECHNOLOGY, ENGINEERING AND MATHEMATICS) PROGRAMS AND WILL HELP DEVELOP THE INNOVATIVE CENTER FOR THE GREATER CORONA AREA. WORKING WITH OUR MEMBER FIRMS, PROVIDING CONNECTIONS FOR BUSINESS COMMUNITY TO PARTNER WITH THE SCHOOL DISTRICT WHILE LINKING NEW SKILL-TRAINING PROGRAMS ARE ALL PART OF THE EQUATION. THE CORONA CHAMBER ALSO PARTNERS WITH THE NEIGHBORING COMMUNITY COLLEGE (NORCO COLLEGE). CREATED A STRIKE FORCE COMPRISED OF E3DCATORS AND MANUFACTURERS TO COORDINATE & IMPLEMENT NEW CURRICULUM FOR TRAINING & EDUCATING STUDENTS & LOCAL WORKFORCE. WORKFORCE DEVELOPMENT THROUGH EDUCATION IN TECHNOLOGY, THE LOCAL SCHOOL DISTRICTS AND PRIVATE PROVIDERS ARE PARTNERING IN AN AWARENESS CAMPAIGN THAT DIRECTS ENROLLEES TO THE MOST APPROPRIATE AND EFFICIENT LEARNING CENTERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Spiegel Pres/ceo/sec | OfficerTrustee | 40 | $93,344 |
Kim Mabon Chairman | OfficerTrustee | 5 | $0 |
Palbinder Badesha Chair Elect | OfficerTrustee | 5 | $0 |
Angie Byars Vice Chair | OfficerTrustee | 5 | $0 |
Anthony Pirritano Treas/fin Chair | OfficerTrustee | 5 | $0 |
Patrick Akes Vice Chair Fin | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $712,376 |
| Fundraising events | $172,640 |
| Related organizations | $0 |
| Government grants | $3,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $16,008 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $904,024 |
| Total Program Service Revenue | $242,432 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,150 |
| 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 | $1,320,369 |
| 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. | $93,344 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $492,106 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $12,797 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $24,368 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $57,393 |
| Advertising and promotion | $40,560 |
| Office expenses | $268,647 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $23,440 |
| Travel | $31,297 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $127,654 |
| Interest | $11,023 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,496 |
| Insurance | $22,628 |
| All other expenses | $17,207 |
| Total functional expenses | $1,347,644 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $410,899 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $61,999 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,999 |
| Prepaid expenses and deferred charges | $8,344 |
| Net Land, buildings, and equipment | $48,427 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $531,668 |
| Accounts payable and accrued expenses | $163,902 |
| Grants payable | $0 |
| Deferred revenue | $232,355 |
| 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 | $56,197 |
| Total liabilities | $452,454 |
| Net assets without donor restrictions | $68,987 |
| Net assets with donor restrictions | $10,227 |
| 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 | $531,668 |