Vernon Chamber Of Commerce
- Assets
- $253.6k
- Revenue
- $246.7k
- Investments
- $0.0
- Employees
- 2
- Location
- Vernon, CA
- Founding
- 07/1952
- Data as of
- 12/2019
- EIN
- 95-1643499
Organization Overview
Vernon Chamber Of Commerce is located in Vernon, CA. The organization was established in 1952. 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 12/2018, Vernon Chamber Of Commerce employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vernon 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 12/2019, Vernon Chamber Of Commerce generated $246.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (5.4%) each year. All expenses for the organization totaled $250.3k during the year ending 12/2019. As we would expect to see with falling revenues, expenses have declined by (6.5%) per year over the past 5 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
THE CHAMBER IS A BUSINESS MEMBERSHIP ORGANIZATION THAT EXISTS TO MEET THE NEEDS OF ITS COMMUNITY AND TO PROMOTE THE ECONOMIC CLIMATE OF THE CITY OF VERNON. THE CHAMBER PROVIDES RESOURCES AND TOOLS TO HELP ITS MEMBERS GROW AND THRIVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ANNUAL INSTALLATION OF OFFICERS LUNCHEON THE CHAMBER HOLDS AN ANNUAL MEMBERSHIP EVENT WHERE WE INSTALL ALL ONGOING AND INCOMING OFFICERS TO THE BOARD OF DIRECTORES. THE PROGRAM LUNCHEON INCLUDES AWARDS AND A PROMINENT, FEATURED SPEAKER THAT ATTRACTS OVER 150 ATTENDEES FROM THE VERNON BUINESS COMMUNITY, LOCAL ELECTED OFFICIEALS AND INVITED GUESTS. A CORE PROGRAM PUT ON BY THE CHAMBER, THIS EVENT FULFILLS THE FOLLOWING OBJECTIVES: OUTLINE THE CHAMBER'S ACCOMPLISHMENTS, ANNUAL PRIORITIES AND ITS LEADERSHIP IN THE COMMUNITY.PRESENT A TIMELY UPDATE ON THE ECONOMY, THE STATE OF CITY, STATE, AND GOVERMENT AFFAIRS. FACILITATE NETWORKING AND REFERRAL OPPORTUNITIES. PROMOTE THE COMMUNITY OF VERNON.
THE JACK KYSER ECONOMIC DEVELOPMENT EVENTTHE CHAMBER HOLDS AN ANNUAL ECONOMIC FORECAST AND INDUSTRY OUTLOOK LUNCHEON TO HELP ITS MEMBERS NAVIGATE ECONOMIC TRENDS ON KEY INDUSTRIES, PROVIDE BUSINESS RESOURCES, CREATE NETWORKING AND REFERRAL OPPORTUNITIES, AND PROMOTE THE COMMUNITY OF VERNON.THIS ANNUAL EVENT ATTRACTS OVER 100 TOP BUSINESS LEADERS IN VERNON AND THOSE IN REAL ESTATE, DEVELOPMENT AND FINANCE.
WORKSHOPSTHE CHAMBER HELD 6 EDUCATIONAL AND TRAINING WORKSHOPS ON VARIOUS TOPICS TO HELP EMPLOYERS NAVIGATE AND COMPLY WITH NEW LAWS AND REGULATIONS. WORKSHOPS AND SEMINARS EDUCATE EMPLOYERS ON HOW TO PROTECT AND GROW THE COMPANY'S BOTTOM LINE. EXAMPLES OF SEMINARS TOPICS INCLUDE:- ANNUAL LABOR LAW UPDATES ATTENDED BY OVER 40 VERNON HR PROFESSIONALS. - TAX INCENTIVE AND ACCESS TO CAPITAL PROGRAM SEMINARS ATTENDED BY OVER 30 VERNON CEOS.- OSHA, SAFETY, STORM WATER, ETC. - BEST PRACTICES IN HR, WORKERS COMPENSATION & RISK MANAGEMENT.THESE WORKSHOPS ATTRACT AN AVERAGE OF 30 ATTENDEES EACH FROM THE VERNON COMMUNITY AND THOSE WANTING TO DO BUSINESS IN VERNON.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marisa Olguin President/ceo | OfficerTrustee | 40 | $66,000 |
Jim Boltinghouse Vice Chr-Financ | OfficerTrustee | 1 | $0 |
Juliet Goff Vice Chair | OfficerTrustee | 3 | $0 |
Eric Gustafson Director | OfficerTrustee | 0 | $0 |
Lisette Gavina Lopez Vice Chairman | OfficerTrustee | 1 | $0 |
Jim Andreoli Jr Vice Chair | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $86,415 |
| Investment income | $64 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $85,261 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $246,677 |
| Statement of Expenses | |
|---|---|
| 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. | $78,798 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $55,306 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,098 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,417 |
| Office expenses | $7,435 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,625 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,748 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,011 |
| Insurance | $11,647 |
| All other expenses | $0 |
| Total functional expenses | $250,346 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $75,494 |
| Savings and temporary cash investments | $124,212 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $42,181 |
| 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 | $4,232 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $719 |
| Total assets | $253,625 |
| Accounts payable and accrued expenses | $500 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $82,927 |
| Total liabilities | $83,427 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $170,198 |
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|---|---|---|
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Electric & Gas Industries Association Sacramento, CA | $14,735,713 | $15,175,016 |
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