Hollywood Chamber Of Commerce
- Assets
- $4.3m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 17
- Location
- Hollywood, CA
- Founding
- 03/1942
- Data as of
- 03/2022
- EIN
- 95-0838840
Organization Overview
Hollywood Chamber Of Commerce is located in Hollywood, CA. The organization was established in 1942. 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 03/2022, Hollywood Chamber Of Commerce employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hollywood 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 03/2022, Hollywood Chamber Of Commerce generated $2.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $3.1m during the year ending 03/2022. While expenses have increased by 4.4% per year over the past 7 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
THE CHAMBER'S MISSION IS TO ADVANCE A DYNAMIC BUSINESS CLIMATE AND ELEVATE THE HOLLYWOOD'S EXPERIENCE FOR ALL. TO ACCOMPLISH THIS MISSION THE CHAMBER WILL ACT AT THE LOCAL, STATE, AND FEDERAL LEVELS OF GOVERNMENT TO DEVELOP AND SUPPORT SPECIFIC PROPOSALS FOR ACTION, AND OPPOSE LEGISLATIVE AND REGULATORY EFFORTS THAT DO NOT SUPPORT THESE PRINCIPLES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CHAMBER INDUCTS CELEBRITIES INTO THE HOLLYWOOD WALK OF FAME. CREATED AS A MARKETING ATTRACTION FOR THE COMMUNITY, IT HAS BECOME AN ECONOMIC ENGINE FOR THE REGION AND A HISTORIC LANDMARK THAT ATRACTS MILLIONS OF TOURISTS TO HOLLYWOOD EACH YEAR.
LICENSING OF HOLLYWOOD ICONS: THE HOLLYWOOD SIGN AND THE HOLLYWOOD WALK OF FAME, TO ELEVATE THE HOLLYWOOD BRAND AND EXPERIENCE.
SPECIAL EVENTS TO PROMOTE HOLLYWOOD
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rana S Ghadban Former Pre&ceo | OfficerTrustee | 40 | $215,054 |
Micahel Gargano Treasurer | OfficerTrustee | 1 | $0 |
Nicole Mihalka Chair | OfficerTrustee | 1 | $0 |
Matt Fritch Secretary | OfficerTrustee | 1 | $0 |
Lupita Sanchez Cornejo Sr Vice Chair | OfficerTrustee | 1 | $0 |
Mark Echeverria Vice Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $429,687 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $433,078 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $862,765 |
| Total Program Service Revenue | $1,995,902 |
| Investment income | $13,484 |
| 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 | $2,872,151 |
| 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. | $215,054 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $847,984 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,232,875 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $260,900 |
| 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 | $33,686 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,141,591 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $916,735 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $205,745 |
| 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 | $210,340 |
| Net Land, buildings, and equipment | $116,567 |
| Investments—publicly traded securities | $2,671,033 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $185,374 |
| Total assets | $4,305,794 |
| Accounts payable and accrued expenses | $68,356 |
| Grants payable | $0 |
| Deferred revenue | $1,502,097 |
| 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 | $159,703 |
| Total liabilities | $1,730,156 |
| Net assets without donor restrictions | $2,575,638 |
| 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 | $4,305,794 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Hollywood Chamber Of Commerce has recieved totaling $45,843.
| Awarding Organization | Amount |
|---|---|
Hollywood Food Coalition Los Angeles, CA PURPOSE: COMMUNITY ASSISTANCE | $45,843 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Chinatown Service Center Los Angeles, CA | $26,778,687 | $27,867,616 |
Sag-Aftra & Industry Sound Recordings Distribution Fund Valley Village, CA | $48,142,351 | $13,604,136 |
Electric & Gas Industries Association Sacramento, CA | $14,735,713 | $15,175,016 |
American Pistachio Growers Fresno, CA | $11,494,323 | $15,365,842 |
National Council For Prescription Drug Programs Inc Scottsdale, AZ | $21,339,680 | $12,526,720 |
Travel Portland Portland, OR | $18,865,244 | $9,767,566 |
California Society Of Certified Public Accountants Burlingame, CA | $29,880,424 | $13,544,885 |
Scottsdale Convention And Vistors Bureau Inc Scottsdale, AZ | $8,006,659 | $12,242,411 |
Sustainable Apparel Coalition Inc Oakland, CA | $12,069,125 | $10,210,019 |
Portland Business Alliance Portland, OR | $2,909,182 | $8,830,293 |
California Certified Public Accountants Foundation Burlingame, CA | $12,236,942 | $9,436,468 |
California Life Sciences Association San Diego, CA | $8,698,147 | $9,649,305 |