Form 990 for tax year 2023
Filed by CHAMBER OF COMMERCE OF EASTERN CONNECTICUT INC.
Totals
- Total revenue
- $2,162,280
- Total expenses
- $1,476,499
- Contributions and grants received
- $1,111,424
- Grants paid
- $0
- Program service revenue
- $862,292
- Investment income
- $695
- Other revenue
- $187,869
- Total assets, end of year
- $3,016,376
- Total liabilities, end of year
- $624,339
- Net assets or fund balances, end of year
- $2,392,037
- Program services expenses (Part IX)
- $812,037
- Management and general expenses
- $664,462
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $821,037
Program services were 55.0% 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.
-
1f · All other contributions, gifts and grants
$1,111,424
-
2a · Program service revenue: Membership Dues & Assessments
total $319,351 · related or exempt $319,351
-
2b · Program service revenue: Newsletter & Direct Mail
total $1,480 · unrelated business $1,480
-
2c · Program service revenue: Program Services (Events)
total $541,461 · related or exempt $541,461
-
3 · Investment income
total $695 · excluded $695
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7d · Net gain or loss
total $0
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11a · Other revenue: MISC REVENUE
total $187,869 · related or exempt $187,869
-
11e · Other revenue, total
$187,869
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $234,942 · program services $117,471 · management and general $117,471
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $606,522 · program services $274,776 · management and general $331,746
-
8 · Pension plan contributions
total $16,727 · program services $5,353 · management and general $11,374
-
9 · Other employee benefits
total $37,074 · program services $24,864 · management and general $12,210
-
10 · Payroll taxes
total $62,677 · program services $29,183 · management and general $33,494
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $20,836 · program services $5,836 · management and general $15,000
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $34,663 · program services $17,551 · management and general $17,112
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $70,641 · program services $56,121 · management and general $14,520
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $65,086 · program services $43,608 · management and general $21,478
-
17 · Travel
total $8,745 · program services $2,423 · management and general $6,322
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $1,323 · management and general $1,323
-
20 · Interest
total $10,313 · program services $10,313
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $18,441 · program services $13,981 · management and general $4,460
-
23 · Insurance
total $20,134 · program services $11,413 · management and general $8,721
-
24a · Other expenses: CHAMBER MEETINGS & EVENTS
total $159,028 · program services $150,370 · management and general $8,658
-
24b · Other expenses: REPAIRS AND MAINTENANCE
total $25,833 · program services $10,371 · management and general $15,462
-
24c · Other expenses: TAXES
total $24,764 · program services $16,592 · management and general $8,172
-
24d · Other expenses: SUPPLIES
total $24,027 · program services $10,860 · management and general $13,167
-
24e · All other expenses
total $34,723 · program services $10,951 · management and general $23,772
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $390 · end of year $390
-
2 · Savings and temporary cash investments
beginning of year $453,621 · end of year $356,945
-
3 · Pledges and grants receivable
beginning of year $486,000 · end of year $0
-
4 · Accounts receivable
beginning of year $327,636 · end of year $138,294
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $10,641 · end of year $10,808
-
10a · Land, buildings and equipment: cost or other basis
$2,559,497
-
10b · Land, buildings and equipment: accumulated depreciation
$49,558
-
10c · Land, buildings and equipment, net
beginning of year $1,078,661 · end of year $2,509,939
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
beginning of year $5,308 · end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $80,213 · end of year $103,772
-
19 · Deferred revenue
beginning of year $573,993 · end of year $111,504
-
23 · Secured mortgages and notes payable
end of year $407,048
-
25 · Other liabilities
beginning of year $1,795 · end of year $2,015
-
27 · Net assets without donor restrictions
beginning of year $1,685,513 · end of year $2,361,294
-
28 · Net assets with donor restrictions
beginning of year $20,743 · end of year $30,743
Mission and programs · 2023
Mission
The Chamber of Commerce of Eastern Connecticut, Inc. is a collaborative of business and community leaders dedicated to securing and enhancing the economic vitality of eastern Connecticut.
-
INNOVATION CENTER- CREATE A HUB FOR SMALL BUSINESS AND ENTREPRENEUR RESOURCES, PHYSICAL OR OTHERWISE.
Expenses $410,097
-
MARKETING/ PROMOTIONS OF CHAMBER MEMBER GOODS AND SERVICES.
Expenses $261,267 · Revenue $319,351
-
EVENTS - PROVIDE PLATFORMS FOR NETWORKINGM SKILL BUILDING, AND BUSINESS EDUCATION/ AWARENESS.
Expenses $149,673 · Revenue $542,941
As filed on the 2023 return.
Listed in Part VII
-
Thomas Sheridan
President & CEO
- Total calculated
- $234,931
- From this org
- $213,344
- From related orgs
- $0
- Other
- $21,587
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $183,344
- Bonus
- $30,000
- Other
- not reported
- Deferred
- $5,500
- Nontaxable benefits
- $16,087
- Filer's total
- $234,931
-
Patrick Green
Vice Chair
- Total calculated
- $0
- Hours/week
- 1
-
Anthony Joyce
Vice Chair
- Total calculated
- $0
- Hours/week
- 1
-
Mary Ellen Jukoski
Chairman
- Total calculated
- $0
- Hours/week
- 1
-
Jennifer Granger
Director
- Total calculated
- $0
- Hours/week
- 1
-
Eric Callahan
Director
- Total calculated
- $0
- Hours/week
- 1
-
Heather Cini Roberts
Treasurer
- Total calculated
- $0
- Hours/week
- 1
-
Katherine Ericson
Director
- Total calculated
- $0
- Hours/week
- 1
-
Jeff Godley
Secretary
- Total calculated
- $0
- Hours/week
- 1
-
Stephen Coan
Past Chair
- Total calculated
- $0
- Hours/week
- 1
-
Anna Lathrop
Director
- Total calculated
- $0
- Hours/week
- 1
-
Dave Meisinger
Director
- Total calculated
- $0
- Hours/week
- 1
-
Charles Bunnell
Director
- Total calculated
- $0
- Hours/week
- 1
-
Tai Au
Director
- Total calculated
- $0
- Hours/week
- 1
-
Stan Minkus
Director
- Total calculated
- $0
- Hours/week
- 1
-
Marguerite Driscoll
Vice Chair
- Total calculated
- $0
- Hours/week
- 1
-
Donna Handley
Director
- Total calculated
- $0
- Hours/week
- 1
-
Brian Orenstein
Director
- Total calculated
- $0
- Hours/week
- 1
-
Michael Ausere
Director
- Total calculated
- $0
- Hours/week
- 1
-
Blair Bendel
Director
- Total calculated
- $0
- Hours/week
- 1
-
Tina Couch
Director
- Total calculated
- $0
- Hours/week
- 1
-
Laurie Finan
Director
- Total calculated
- $0
- Hours/week
- 1
-
Dan McFadden
Director
- Total calculated
- $0
- Hours/week
- 1
-
Courtney Murphy
Director
- Total calculated
- $0
- Hours/week
- 1
-
Nicole Verdi
Director
- Total calculated
- $0
- Hours/week
- 1
-
Lou Ziegler
Director
- Total calculated
- $0
- Hours/week
- 1
-
Jean Swift
Director
- 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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Compensation committee
- 3 · Form 990 of other organizations
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
THE CHAMBER OF COMMERCE OF EASTERN CT
501(c)(6) · PROVIDE GRANTS TO 501(c)(3) ORGANIZATIONS · CT
Directly controlled by NA
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 27 August 2024
- IRS schema version
- 2023v5.1
- Source object
- 202412409349300906
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