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Nonprofiteer
← MYSTIC CHAMBER OF COMMERCE INC

Form 990 for tax year 2022

Filed by MYSTIC CHAMBER OF COMMERCE INC.

Totals

Total revenue
$676,826
Total expenses
$641,654
Contributions and grants received
$414,330
Grants paid
$0
Program service revenue
$262,464
Investment income
$32
Other revenue
$0
Total assets, end of year
$225,226
Total liabilities, end of year
$1,847
Net assets or fund balances, end of year
$223,379
Program services expenses (Part IX)
$638,299
Management and general expenses
$3,355
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 99.5% 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.

  • 1b · Membership dues

    $382,304

  • 1e · Government grants (contributions)

    $13,500

  • 1f · All other contributions, gifts and grants

    $18,526

  • 2a · Program service revenue: MERCHANDISE SALES

    total $102,637 · related or exempt $102,637

  • 2b · Program service revenue: EVENT TICKET SALES

    total $94,438 · related or exempt $94,438

  • 2c · Program service revenue: PROGRAMS & EVENTS

    total $65,389 · related or exempt $65,389

  • 3 · Investment income

    total $32 · excluded $32

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $87,770 · program services $87,770

  • 7 · Other salaries and wages

    total $113,791 · program services $113,791

  • 10 · Payroll taxes

    total $19,032 · program services $19,032

  • 11c · Fees: accounting

    total $25,898 · program services $25,898

  • 12 · Advertising and promotion

    total $9,272 · program services $9,272

  • 13 · Office expenses

    total $4,508 · program services $1,159 · management and general $3,349

  • 14 · Information technology

    total $4,830 · program services $4,830

  • 16 · Occupancy

    total $6,683 · program services $6,683

  • 20 · Interest

    total $6 · management and general $6

  • 23 · Insurance

    total $7,561 · program services $7,561

  • 24a · Other expenses: PROGRAMS & EVENTS

    total $258,785 · program services $258,785

  • 24b · Other expenses: MYSTIC DOLLARS

    total $26,965 · program services $26,965

  • 24c · Other expenses: SCHOLARSHIPS & DONATIONS

    total $21,397 · program services $21,397

  • 24d · Other expenses: MERCHANDISE

    total $19,592 · program services $19,592

  • 24e · All other expenses

    total $35,564 · program services $35,564

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $187,477 · end of year $202,533

  • 4 · Accounts receivable

    beginning of year $48,252

  • 9 · Prepaid expenses and deferred charges

    beginning of year $595 · end of year $595

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

    $53,279

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

    $32,939

  • 10c · Land, buildings and equipment, net

    beginning of year $5,569 · end of year $20,340

  • 15 · Other assets

    beginning of year $1,735 · end of year $1,758

  • 17 · Accounts payable and accrued expenses

    beginning of year $17,692 · end of year $1,847

  • 25 · Other liabilities

    beginning of year $24,396

  • 27 · Net assets without donor restrictions

    beginning of year $201,540 · end of year $223,379

Mission and programs · 2022

Mission

THE ORGANIZATION'S MISSION IS TO FOSTER AND PROMOTE BUSINESS FOR MEMBERS AND TO PLAY AN ACTIVE ROLE IN THE COMMUNITY, BRINGING TOGETHER THE TOWNS OF STONINGTON AND GROTON, CONNECTICUT, AND TO ADDRESS CONCERNS OF THE MYSTIC BUSINESS COMMUNITY.

  • SPONSOR LOCAL FESTIVALS THAT ALLOW AREA BUSINESS TO DISPLAY THEIR PRODUCTS AND SERVICES AND ORGANIZE BUSINESS MEETINGS AND FUNCTIONS TO FOSTER EDUCATION OF THE MEMBERS AND TO PROVIDE NETWORKING OPPORTUNITES FOR MEMBERS.

  • SPONSOR LOCAL FESTIVALS WHICH ALLOW AREA BUSINESS TO DISPLAY THEIR PRODUCTS OR SERVICES AND ORGANIZE BUSINESS MEETINGS AND FUNCTIONS TO FORSTER EDUCATION OF THE MEMBERS AND TO PROVIDE NETWORKING OPPORTUNITIES FOR MEMBERS.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • AMANDA ARLING

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • SHERI COTE

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • DAVID LABBE

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • SHANNON MCKENZIE

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • CHRIS REGAN

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

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
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202303199349315485

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