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Nonprofiteer
← SALEM AREA CHAMBER OF COMMERCE

Form 990 for tax year 2024

Filed by SALEM AREA CHAMBER OF COMMERCE.

Totals

Total revenue
$1,485,288
Total expenses
$1,453,469
Contributions and grants received
$155,075
Grants paid
$7,805
Program service revenue
$1,284,785
Investment income
$15,552
Other revenue
$29,876
Total assets, end of year
$1,215,303
Total liabilities, end of year
$271,623
Net assets or fund balances, end of year
$943,680
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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.

  • 1c · Fundraising events

    $43,875

  • 1e · Government grants (contributions)

    $5,000

  • 1f · All other contributions, gifts and grants

    $106,200

  • 2a · Program service revenue: MEMBERSHIP DUES

    total $687,172 · related or exempt $687,172

  • 2b · Program service revenue: MENTORING

    total $368,549 · related or exempt $368,549

  • 2c · Program service revenue: TRADESHOWS AND EVENTS

    total $229,064 · related or exempt $229,064

  • 3 · Investment income

    total $15,552 · excluded $15,552

  • 7a · Gross sales of assets other than inventory

    securities $207,802

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

    securities $207,802

  • 7c · Gain or loss

    securities $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $55,835

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

    $43,875

  • 8b · Fundraising events: direct expenses

    $38,528

  • 8c · Net income from fundraising events

    total $17,307 · excluded $17,307

  • 11a · Other revenue: ADVERTISING

    total $12,569 · related or exempt $525 · unrelated business $12,044

  • 11e · Other revenue, total

    $12,569

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $7,805

  • 5 · Compensation of officers, directors and key employees

    total $190,495

  • 7 · Other salaries and wages

    total $662,191

  • 8 · Pension plan contributions

    total $21,141

  • 9 · Other employee benefits

    total $75,822

  • 10 · Payroll taxes

    total $63,386

  • 11c · Fees: accounting

    total $5,000

  • 11g · Fees: other

    total $67,360

  • 12 · Advertising and promotion

    total $4,852

  • 13 · Office expenses

    total $45,915

  • 14 · Information technology

    total $11,326

  • 16 · Occupancy

    total $52,951

  • 17 · Travel

    total $9,784

  • 19 · Conferences, conventions and meetings

    total $183,876

  • 22 · Depreciation, depletion and amortization

    total $29,169

  • 23 · Insurance

    total $5,499

  • 24a · Other expenses: VOLUNTEER AND STAFF REC

    total $7,697

  • 24b · Other expenses: OTHER PROGRAM EXPENSES

    total $5,776

  • 24c · Other expenses: MEMBERSHIP DEVELOPMENT

    total $3,274

  • 24d · Other expenses: STATE TAX

    total $150

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $315,953 · end of year $451,156

  • 2 · Savings and temporary cash investments

    beginning of year $346,835 · end of year $361,921

  • 4 · Accounts receivable

    beginning of year $111,262 · end of year $66,996

  • 6 · Loans and receivables from disqualified persons

    beginning of year $89 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $265 · end of year $20,490

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

    $1,017,997

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

    $709,079

  • 10c · Land, buildings and equipment, net

    beginning of year $337,554 · end of year $308,918

  • 14 · Intangible assets

    beginning of year $6,356 · end of year $5,822

  • 17 · Accounts payable and accrued expenses

    beginning of year $119,372 · end of year $166,760

  • 19 · Deferred revenue

    beginning of year $74,220 · end of year $70,512

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $22,624

  • 25 · Other liabilities

    beginning of year $12,861 · end of year $11,727

  • 27 · Net assets without donor restrictions

    beginning of year $911,861 · end of year $943,680

Mission and programs · 2024

Mission

TO DEVELOP, ENCOURAGE, PROMOTE AND PROTECT THE COMMERCIAL, PROFESSIONAL, INDUSTRIAL, AGRICULTURAL, FINANCIAL, ECONOMIC AND GENERAL BUSINESS INTERESTS OF THE CITY OF SALEM, OREGON, AND AREA TRIBUTARY THERETO; TO FOSTER, DEVELOP AND PROTECT ITS INDUSTRY; TO ENCOURAGE THE DEVELOPMENT OF THE TRANSPORTATION AND COMMERCIAL FACILIITES AND THE VARIOUS RESOURCES OF THE AREA; TO STUDY, ENCOURAGE, DEVELOP, INVESTIGATE AND RESEARCH PLANS AND PROJECTS FOR THE BUSINESS AND ECONOMIC WELFARE OF THE AREA AND TO PROMOTE THE CIVIC INTERESTS AND GENERAL WELFARE OF THE COMMUNITY.

Activities or mission (Part I)

TO PROMOTE BUSINESS AND A GOOD BUSINESS CLIMATE IN SALEM, OREGON.

  • THE ORGANIZATION SERVES AS AN ADVOCATE FOR BUSINESSES AND THEIR EMPLOYEES, IN THE SALEM, OR REGION. WE ACTIVELY SUPPORT ECONOMIC AND WORKFORCE DEVELOPMENT INITIATIVES DESIGNED TO SUSTAIN AND IMPROVE ECONOMIC CONDITIONS WITHIN THE REGION, ALLOWING FOR STRATEGIC GROWTH IN JOB OPPORTUNITIES FOR SALEM AREA RESIDENTS. THE CHAMBER SERVES OVER 1,000 MEMBER BUSINESSES WHO EMPLOY APPROXIMATELY 45,000 PEOPLE THROUGHOUT THE REGION BY PROVIDING SMALL BUSINESS ADVOCACY, NETWORKING AND CONNECTION, LEADERSHIP DEVELOPMENT TRAINING, BUSINESS FORUMS, AND VARIOUS MONTHLY AND YEARLY KEY EVENTS WHICH PROVIDES NETWORKING AND CONNECTION WITHIN THE SALEM BUSINESS COMMUNITY.

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • MIKE HERRON

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • TED FERRY

    PRESIDENT-ELECT

    Total calculated
    $0
    Hours/week
    1

  • BRANDON BLAIR

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • RYAN DEMPSTER

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • RICH DUNCAN

    VP OF BUSINESS ADVOCACY

    Total calculated
    $0
    Hours/week
    1

  • JIM VU

    VICE PRESIDENT - EVENTS & PROGRAMMING

    Total calculated
    $0
    Hours/week
    1

  • ANGELA WILLIAMS

    MEMERSHIP VP

    Total calculated
    $0
    Hours/week
    1

  • JONATHAN CASTRO MONROY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TAMMY DENNEE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JEFF DUNN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PAM FAHNDRICH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JULI FOSCOLI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TREVA GAMBS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TODD GRANETO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ROGER HOY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JENNIFER MARTIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DIANE MCLARAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KATYA MENDEZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TYSON PRUETT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BILL RIECKE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • QUANDRAY ROBERTSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ALAN SOREM

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JIM SPARKMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ZAK STONE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LUCY ESCOBAR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • THOMAS A HOFFERT

    CEO

    Total calculated
    $209,572
    From this org
    $187,660
    From related orgs
    $0
    Other
    $21,912
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $167,660
    Bonus
    $20,000
    Other
    $0
    Deferred
    $4,636
    Nontaxable benefits
    $17,276
    Filer's total
    $209,572

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
15 May 2026
IRS schema version
2024v5.5
Source object
202611359349314746

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