Santa Monica Chamber Of Commerce
- Assets
- $363.0k
- Revenue
- $598.2k
- Investments
- $0.0
- Employees
- 4
- Location
- Santa Monica, CA
- Founding
- 12/1941
- Data as of
- 06/2023
- EIN
- 95-1192245
Organization Overview
Santa Monica Chamber Of Commerce is located in Santa Monica, CA. The organization was established in 1941. 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 06/2023, Santa Monica Chamber Of Commerce employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Santa Monica 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 06/2023, Santa Monica Chamber Of Commerce generated $598.2k 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 (4.5%) each year. All expenses for the organization totaled $542.1k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (5.4%) 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ADVOCATE AND REPRESENT BUSINESS' INTERESTS IN ISSUES AFFECTING THE COMMUNITY OF SANTA MONICA, CALIFORNIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORE PURPOSE OF THE SANTA MONICA CHAMBER OF COMMERCE IS TO FOSTER,ENABLE, AND FACILITATE THE SUCCESS OF SANTA MONICA BUSINESSES, SO OURCOMMUNITY IS FINANCIALLY HEALTHY AND ALL THE PEOPLE LIVING, WORKING,AND PLAYING IN SANTA MONICA CAN ENJOY A HIGH QUALITY OF LIFE.WE ARE THE 'GO TO' RESOURCE FOR ADVOCACY, EDUCATION, AND RESOURCES FORSANTA MONICA BUSINESSES AND FOR THE SANTA MONICA COMMUNITY OVERALL.OUR CHAMBER MEMBERS RELY ON AND RESPECT THE VALUE AND BENEFITS WECONSISTENTLY DELIVER. AS A RESULT, MANY IF NOT MOST OF OUR MEMBERSPARTICIPATE IN OUR PROGRAMS BECAUSE THEY ARE SO RELEVANT, PERTINENT,AND 'BUSINESS COOL' - OUR MEMBERS FEEL THAT OUR PROGRAMS ARE EVENTS 'THAT CAN'T BE MISSED AND 'CAN'T LIVE WITHOUT'. THEY FEEL THE CHAMBERAND OUR PROGRAMS ARE INTEGRAL TO THEIR FINANCIAL AND ORGANIZATIONALSUCCESS.WE WORK VERY CLOSELY WITH AND ARE CONSIDERED A STRATEGIC, TRUSTEDPARTNER BY THE CITY OF SANTA MONICA. WE ARE A NATIONAL MODEL FORCREATING AND SUSTAINING STRATEGIC PARTNERSHIPS WITH ORGANIZATIONS THATSUPPORT BUSINESS SUCCESS RESULTING IN A VIBRANT, ECONOMICALLY HEALTHYSANTA MONICA. OUR CHAMBER COMMITTEES AND TASK FORCES ARE WELL LED ANDENJOY STRONG SUPPORT AND CHAMBER MEMBER PARTICIPATION. THE CHAMBER ISFINANCIALLY SELF-SUSTAINING. WE ARE COMMITTED TO ENVIRONMENTALLEADERSHIP AND SERVE AS A MODEL FOR ENVIRONMENTAL STEWARDSHIP FOR OURCITY AND OUR MEMBERS.DURING THE CURRENT YEAR, THE CHAMBER SPONSORED 16 EVENTSAND PROGRAMS SERVING THE BUSINESS COMMUNITY IN SANTA MONICA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Celia Fisher Director | Trustee | 1.5 | $0 |
Dom Bei Director | Trustee | 1.5 | $0 |
Dr Kathryn Jeffrey Director | Trustee | 1.5 | $0 |
Greg Morena Past Chair | OfficerTrustee | 3 | $0 |
Janet Rimicci Director | Trustee | 1.5 | $0 |
Jasson Crockett Vice Chair | OfficerTrustee | 1.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $598,092 |
| Investment income | $133 |
| 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 | $598,225 |
| 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. | $120,000 |
| Compensation of current officers, directors, key employees. | $12,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $129,668 |
| Pension plan accruals and contributions | $4,637 |
| Other employee benefits | $28,888 |
| Payroll taxes | $18,790 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,700 |
| Fees for services: Accounting | $32,199 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,270 |
| Office expenses | $35,128 |
| Information technology | $13,109 |
| Royalties | $0 |
| Occupancy | $6,189 |
| Travel | $996 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,719 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,182 |
| All other expenses | $8,232 |
| Total functional expenses | $542,065 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $244,429 |
| Savings and temporary cash investments | $85,345 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $26,000 |
| 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 | $7,199 |
| 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 | $362,973 |
| Accounts payable and accrued expenses | $25,073 |
| Grants payable | $0 |
| Deferred revenue | $3,000 |
| 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 | $99,400 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $127,473 |
| Net assets without donor restrictions | $235,500 |
| 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 | $362,973 |