Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1b · Membership dues

  $377,774

• 1f · All other contributions, gifts and grants

  $446,623

• 2a · Program service revenue: NETWORKING PROGRAMS

  total $69,557 · related or exempt $69,557

• 3 · Investment income

  total $28,215 · excluded $28,215

• 7a · Gross sales of assets other than inventory

  securities $370,469

• 7b · Less cost or other basis and sales expenses

  securities $309,919

• 7c · Gain or loss

  securities $60,550

• 7d · Net gain or loss

  total $60,550 · excluded $60,550

• 11a · Other revenue: MANAGEMENT FEES

  total $105,000 · related or exempt $105,000

• 11b · Other revenue: OTHER INCOME

  total $56,840 · related or exempt $56,840

• 11c · Other revenue: EMAIL & WEBSITE ADVERT

  total $2,608 · unrelated business $2,608

• 11e · Other revenue, total

  $164,448

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $184,208 · program services $160,261 · management and general $23,947

• 7 · Other salaries and wages

  total $454,234 · program services $395,185 · management and general $59,049

• 8 · Pension plan contributions

  total $19,607 · program services $17,058 · management and general $2,549

• 10 · Payroll taxes

  total $53,585 · program services $46,619 · management and general $6,966

• 11c · Fees: accounting

  total $24,000 · management and general $24,000

• 12 · Advertising and promotion

  total $30,083 · program services $28,579 · management and general $1,504

• 13 · Office expenses

  total $53,868 · program services $45,788 · management and general $8,080

• 16 · Occupancy

  total $125,407 · program services $106,596 · management and general $18,811

• 17 · Travel

  total $6,651 · program services $6,651

• 20 · Interest

  total $818 · management and general $818

• 23 · Insurance

  total $143,140 · program services $127,395 · management and general $15,745

• 24a · Other expenses: POST RETIREMENT BENEFIT

  total $39,236 · program services $26,680 · management and general $12,556

• 24b · Other expenses: DIRECT PROGRAM EXPENSE

  total $28,354 · program services $28,354

• 24c · Other expenses: INVESTMENT EXPENSE

  total $13,045 · management and general $13,045

• 24d · Other expenses: AUTO EXPENSE

  total $12,071 · program services $9,053 · management and general $3,018

• 24e · All other expenses

  total $51,323 · program services $26,009 · management and general $25,314

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $194,909 · end of year $67,451

• 4 · Accounts receivable

  beginning of year $12,005 · end of year $38,863

• 9 · Prepaid expenses and deferred charges

  beginning of year $13,573 · end of year $14,375

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

  $143,873

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

  $143,873

• 10c · Land, buildings and equipment, net

  beginning of year $0 · end of year $0

• 11 · Investments: publicly traded securities

  beginning of year $1,533,317 · end of year $1,274,035

• 15 · Other assets

  beginning of year $76,224 · end of year $151,075

• 17 · Accounts payable and accrued expenses

  beginning of year $114,176 · end of year $44,111

• 19 · Deferred revenue

  beginning of year $238,717 · end of year $246,541

• 25 · Other liabilities

  beginning of year $200,835 · end of year $399,453

• 27 · Net assets without donor restrictions

  beginning of year $1,276,300 · end of year $855,694

The filer's explanations (Part III)

PART I, LINE 4B

THE PRESIDENT & CEO AND THE CHAMBER ENTERED INTO A DEFERRED COMPENSATION AGREEMENT, WHEREBY UPON RETIREMENT, THE CHAMBER WILL PAY HIM $40,000 ANNUALLY OVER A PERIOD OF TEN YEARS. THE CHAMBER IS ACCRUING A LIABILITY FOR THE ESTIMATED NET PRESENT VALUE OF THE EARNED BENEFIT, WHICH IS A BALANCE OF $240,071 AT DECEMBER 31, 2022.