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Nonprofiteer
← COLONIE CHAMBER OF COMMERCE INC

Form 990 for tax year 2023

Filed by COLONIE CHAMBER OF COMMERCE INC.

Totals

Total revenue
$226,762
Total expenses
$243,094
Contributions and grants received
$169,948
Grants paid
$0
Program service revenue
$51,027
Investment income
$344
Other revenue
$5,443
Total assets, end of year
$560,894
Total liabilities, end of year
$544,724
Net assets or fund balances, end of year
$16,170
Program services expenses (Part IX)
$79,838
Management and general expenses
$163,256
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 32.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1b · Membership dues

    $115,597

  • 1c · Fundraising events

    $53,325

  • 1f · All other contributions, gifts and grants

    $1,026

  • 2a · Program service revenue: Meetings & Social Events

    total $17,930 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Directory & Affinity program

    total $21,025 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: Administrative Fees

    total $12,072 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $344 · unrelated business $0 · excluded $0

  • 8a · Fundraising events: gross income

    $12,835

  • 8a · Fundraising events: contributions included on line 1c

    $53,325

  • 8b · Fundraising events: direct expenses

    $8,592

  • 8c · Net income from fundraising events

    total $4,243 · unrelated business $0 · excluded $4,243

  • 11a · Other revenue: Miscellaneous

    total $1,200 · related or exempt $1,200 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $1,200

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $76,539 · program services $38,269 · management and general $38,270 · fundraising $0

  • 7 · Other salaries and wages

    total $49,461 · program services $24,731 · management and general $24,730 · fundraising $0

  • 9 · Other employee benefits

    total $3,780 · program services $1,890 · management and general $1,890 · fundraising $0

  • 10 · Payroll taxes

    total $10,372 · program services $5,186 · management and general $5,186 · fundraising $0

  • 11c · Fees: accounting

    total $13,372 · program services $0 · management and general $13,372 · fundraising $0

  • 13 · Office expenses

    total $310 · program services $0 · management and general $310 · fundraising $0

  • 16 · Occupancy

    total $12,000 · program services $0 · management and general $12,000 · fundraising $0

  • 17 · Travel

    total $1,356 · program services $0 · management and general $1,356 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $537 · program services $0 · management and general $537 · fundraising $0

  • 23 · Insurance

    total $20,785 · program services $0 · management and general $20,785 · fundraising $0

  • 24a · Other expenses: UBI Taxes

    total $250 · program services $0 · management and general $250 · fundraising $0

  • 24b · Other expenses: Event Expenses

    total $5,689 · program services $5,689 · management and general $0 · fundraising $0

  • 24c · Other expenses: Meals & Entertainment

    total $645 · program services $645 · management and general $0 · fundraising $0

  • 24d · Other expenses: Equipment & Related

    total $1,616 · program services $0 · management and general $1,616 · fundraising $0

  • 24e · All other expenses

    total $46,382 · program services $3,428 · management and general $42,954 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $187,581 · end of year $216,370

  • 4 · Accounts receivable

    beginning of year $441,664 · end of year $340,521

  • 9 · Prepaid expenses and deferred charges

    beginning of year $11,696 · end of year $3,443

  • 10a · Land, buildings and equipment: cost or other basis

    $53,452

  • 10b · Land, buildings and equipment: accumulated depreciation

    $52,892

  • 10c · Land, buildings and equipment, net

    beginning of year $1,097 · end of year $560

  • 17 · Accounts payable and accrued expenses

    beginning of year $589,419 · end of year $531,499

  • 19 · Deferred revenue

    beginning of year $20,117 · end of year $13,225

  • 27 · Net assets without donor restrictions

    beginning of year $32,502 · end of year $16,170

Mission and programs · 2023

Mission

The Chamber is dedicated to the advancement of members business interests and the promotion of commerce in the Colonie, NY area. They promote community awareness and involvement and established and maintains a large group for

  • The organization promotes community awareness and involvement.

  • The organization establishes and maintains a large group for health insurance which provides a lower cost plan to members.

As filed on the 2023 return.

Listed in Part VII

  • Paul Franklin

    Treasurer

    Total calculated
    $0
    Hours/week
    2

  • Chris Green

    Chair

    Total calculated
    $0
    Hours/week
    1

  • Brian L Jones

    Chair

    Total calculated
    $0
    Hours/week
    1

  • Sean Maguire

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • April Braman

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • David Perry

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Brittany Lawton

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Frank Paladino

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Ali Anechiarico

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Edward Knapp

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Monica LaBree

    Chair Elect

    Total calculated
    $0
    Hours/week
    1

  • Jeff Law

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Stephanie McCauley

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Dawn McCurdy

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Lisa Proskin

    General Counsel

    Total calculated
    $0
    Hours/week
    1

  • Kathleen Skeals

    Board Member

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
15 October 2024
IRS schema version
2023v5.1
Source object
202402899349301685

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