Form 990 for tax year 2022
Filed by WORCESTER REGIONAL CHAMBER OF COMMERCE INC.
Totals
- Total revenue
- $4,028,685
- Total expenses
- $3,886,032
- Contributions and grants received
- $2,857,593
- Grants paid
- $258,297
- Program service revenue
- $1,170,652
- Investment income
- $440
- Other revenue
- $0
- Total assets, end of year
- $1,705,934
- Total liabilities, end of year
- $894,183
- Net assets or fund balances, end of year
- $811,751
- Program services expenses (Part IX)
- $1,419,752
- Management and general expenses
- $2,466,280
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,419,752
Program services were 36.5% 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
$2,857,593
-
2a · Program service revenue: MEMBERSHIP DUES
total $774,029 · related or exempt $774,029
-
2b · Program service revenue: PROGRAM AND COMMUNITY
total $214,548 · related or exempt $214,548
-
2c · Program service revenue: OTHER MISCELLANEOUS
total $176,147 · excluded $176,147
-
2d · Program service revenue: AFFILIATE REVENUE
total $5,928 · excluded $5,928
-
3 · Investment income
total $440 · excluded $440
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $258,297 · program services $258,297
-
5 · Compensation of officers, directors and key employees
total $292,834 · management and general $292,834
-
7 · Other salaries and wages
total $1,269,250 · management and general $1,269,250
-
9 · Other employee benefits
total $178,575 · management and general $178,575
-
10 · Payroll taxes
total $113,023 · management and general $113,023
-
11b · Fees: legal
total $1,335 · management and general $1,335
-
11c · Fees: accounting
total $25,710 · management and general $25,710
-
11g · Fees: other
total $32,807 · management and general $32,807
-
12 · Advertising and promotion
total $119,280 · management and general $119,280
-
13 · Office expenses
total $55,747 · management and general $55,747
-
14 · Information technology
total $13,788 · management and general $13,788
-
16 · Occupancy
total $108,381 · management and general $108,381
-
19 · Conferences, conventions and meetings
total $60,524 · management and general $60,524
-
22 · Depreciation, depletion and amortization
total $6,449 · management and general $6,449
-
23 · Insurance
total $14,982 · management and general $14,982
-
24a · Other expenses: PROGRAMS AND EVENTS
total $1,161,455 · program services $1,161,455
-
24b · Other expenses: SPONSORSHIPS
total $48,000 · management and general $48,000
-
24c · Other expenses: OTHER
total $34,292 · management and general $34,292
-
24d · Other expenses: TRAVEL AND ENTERTAINMEN
total $23,612 · management and general $23,612
-
24e · All other expenses
total $67,691 · management and general $67,691
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $694,154 · end of year $783,838
-
4 · Accounts receivable
beginning of year $183,519 · end of year $199,629
-
9 · Prepaid expenses and deferred charges
beginning of year $57,055 · end of year $115,918
-
10a · Land, buildings and equipment: cost or other basis
$133,674
-
10b · Land, buildings and equipment: accumulated depreciation
$125,835
-
10c · Land, buildings and equipment, net
beginning of year $14,288 · end of year $7,839
-
15 · Other assets
beginning of year $36,365 · end of year $598,710
-
17 · Accounts payable and accrued expenses
beginning of year $56,286 · end of year $60,158
-
19 · Deferred revenue
beginning of year $185,980 · end of year $162,226
-
25 · Other liabilities
beginning of year $74,017 · end of year $671,799
-
27 · Net assets without donor restrictions
beginning of year $517,798 · end of year $660,451
-
28 · Net assets with donor restrictions
beginning of year $151,300 · end of year $151,300
Mission and programs · 2022
Mission
THE ORGANIZATION IS DEDICATED TO BEING THE LEADING BUSINESS ORGANIZATION IN CENTRAL MASSACHUSETTS BY PROVIDING VALUABLE MEMBERSHIP SERVICES AND PROGRAMS AND EVENTS TO ITS MEMBERS AND IN ADVANCING AND ADVOCATING ON BEHALF OF ECONOMIC DEVELOPMENT INITIATIVES AND PUBLIC POLICY ISSUES IMPORTANT TO THE REGIONAL BUSINESS COMMUNITY.
Activities or mission (Part I)
TO FOSTER AND IMPROVE THE GENERAL ECONOMIC CONDITIONS OF THE CENTRAL MASSACHUSETTS AREA THROUGH PROMOTIONAL AND EDUCATIONAL EFFORTS.
-
THE ORGANIZATION PROVIDES VALUABLE MEMBERSHIP SERVICES, PROGRAMS AND EVENTS TO ITS MEMBERS AND IN ADVANCING AND ADVOCATING ON BEHALF OF ECONOMIC DEVELOPMENT INITIATIVES AND PUBLIC POLICY ISSUES IMPORTANT TO THE REGIONAL BUSINESS COMMUNITY.
Expenses $1,419,752 · Grants $258,297 · Revenue $988,577
-
TO ADVANCE AND ADVOCATE ON BEHALF OF THE BUSINESS COMMUNITY IMPORTANT PUBLIC POLICY AND ECONOMIC DEVELOPMENT INITIATIVES.
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Christine CassidyCHRISTINE CASSIDY
CHAIR/DIRECTOR
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Satya MitraSATYA MITRA
VICE CHAIR/DIRECTOR
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Eric TorkornooERIC TORKORNOO
TREASURER/DIRECTOR
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
Eric A BusenburgERIC A BUSENBURG
CLERK/DIRECTOR
- Total calculated
- $0
- Hours/week
- 2 + 2 related
-
J Christopher CollinsJ CHRISTOPHER COLLINS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Ralph Crowley IIIRALPH CROWLEY III
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Libis R BuenoLIBIS R BUENO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Kola AkindeleKOLA AKINDELE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Craig L BlaisCRAIG L BLAIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Harris BerensonHARRIS BERENSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Mike FlahertyMIKE FLAHERTY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Robert CoxROBERT COX
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Che AndersonCHE ANDERSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Dan BonnetteDAN BONNETTE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Louis BradyLOUIS BRADY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Kerri CunninghamKERRI CUNNINGHAM
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Patrick BalivaPATRICK BALIVA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Sue GormanSUE GORMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Gareth CharterGARETH CHARTER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
James GlickmanJAMES GLICKMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Ross LavoieROSS LAVOIE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Jessica McGarryJESSICA MCGARRY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Chizoma NosikeCHIZOMA NOSIKE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Michael GarandMICHAEL GARAND
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Charran FisherCHARRAN FISHER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Richard GreenhalghRICHARD GREENHALGH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
James B Leary EsqJAMES B LEARY ESQ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Paul KellyPAUL KELLY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Meghan LiddyMEGHAN LIDDY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Kevin HayesKEVIN HAYES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Barry M MaloneyBARRY M MALONEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Robert MortonROBERT MORTON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Diane GiampaDIANE GIAMPA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Nadine JamesNADINE JAMES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Edward ManziEDWARD MANZI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Donald F DoyleDONALD F DOYLE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Marie MouradianMARIE MOURADIAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Carolyn JacksonCAROLYN JACKSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Christine TieriCHRISTINE TIERI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Jamie SaloisJAMIE SALOIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Caroline MitchellCAROLINE MITCHELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Eurayshia Williams ReedEURAYSHIA WILLIAMS REED
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Luis PedrajaLUIS PEDRAJA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Michael WelchMICHAEL WELCH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Hamid MohagheghHAMID MOHAGHEGH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Bruce PlatzmanBRUCE PLATZMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Dan ReaDAN REA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Timothy P MurrayTIMOTHY P MURRAY
PRESIDENT/CEO
- Total calculated
- $294,266
- From this org
- $292,834
- From related orgs
- $0
- Other
- $1,432
- Hours/week
- 36 + 4 related
Schedule J breakdown matched by us
- Base
- $292,834
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $1,432
- Filer's total
- $294,266
-
Karen PelletierKAREN PELLETIER
EXECUTIVE VICE PRESIDENT
- Total calculated
- $150,015
- From this org
- $137,024
- From related orgs
- $0
- Other
- $12,991
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $137,024
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $12,991
- Filer's total
- $150,015
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 · 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
-
GRANT TO SUPPORTING ORGANIZATION.
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.
-
WORCESTER REGIONAL STRATEGIC OPPORTUNITIES FOUNDATION
501(C)(3) · PROVIDE EDUCATION TO LOCAL BUSINESSES · MA · controlled entity
Directly controlled by WORCESTER REGIONAL CHAMBER OF COMMERCE
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 14 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202313189349306411
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