Montrose-Verdugo City Chamber Of Commerce
- Assets
- $83.2k
- Revenue
- $174.5k
- Investments
- $0.0
- Employees
- 1
- Location
- Glendale, CA
- Founding
- 07/1980
- Data as of
- 12/2022
- EIN
- 95-3254435
Organization Overview
Montrose-Verdugo City Chamber Of Commerce is located in Glendale, CA. The organization was established in 1980. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Montrose-Verdugo City 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, Montrose-Verdugo City Chamber Of Commerce generated $174.5k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 8.9% each year. All expenses for the organization totaled $101.8k during the year ending 12/2022. 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
SUPPORT LOCAL BUSINESS COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
BUSINESS SUPPORT. THE CHAMBER PROVIDES A PORTION OF THE EXPENSES TO SUPPORT AND EDUCATE LOCAL BUSINESS WITHIN THE COMMUNITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Marshall Director | Officer | 0 | $0 |
Melina Shahbazian Director | Officer | 0 | $0 |
Adam Franko President | Officer | 0 | $0 |
Kristi Cohen Director | Officer | 0 | $0 |
Mavil Aghadjanian Executive Director | Officer | 40 | $0 |
Rodney Mardirosian Secretary | Officer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $9,279 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,200 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,479 |
| Total Program Service Revenue | $5,375 |
| Investment income | $164 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $158,495 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $174,513 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $52,924 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,005 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $285 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,353 |
| Office expenses | $1,875 |
| Information technology | $2,490 |
| Royalties | $0 |
| Occupancy | $7,019 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $175 |
| Payments to affiliates | $4,100 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,835 |
| All other expenses | $829 |
| Total functional expenses | $101,843 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $93,717 |
| Savings and temporary cash investments | $69 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | -$10,602 |
| Total assets | $83,184 |
| Accounts payable and accrued expenses | $3,600 |
| 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 | -$381 |
| Total liabilities | $3,219 |
| Net assets without donor restrictions | $79,965 |
| 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 | $83,184 |