NORTH SHORE CHAMBER OF COMMERCE INC

EIN: 041087160

BEVERLY, MA

Total Revenue
$1,012,466
Total Expenses
$976,605
Total Assets
$323,777
Net Assets
$115,096
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1918
Legal Domicile
MA
Principal Officer
KAREN E ANDREAS
Phone
9787748565
Tax Period
2024-10-01 to 2025-09-30

NORTH SHORE CHAMBER OF COMMERCE INC, founded in 1918, is a community nonprofit that reported $1.0M in total revenue in fiscal year 2024. Expenses of $977K left a modest 4% surplus.

Mission

THE NORTH SHORE CHAMBER OF COMMERCE WORKS TO PROMOTE BUSINESS AND IMPROVE THE ECONOMIC ENVIRONMENT OF THE REGION NORTH OF BOSTON.

Program Service Accomplishments

Program 1

The North Shore Chamber of Commerce works to improve the business environment north of Boston through programs including, but not limited to, monthly Business Insight Breakfast Forums, After Hours...

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The North Shore Chamber of Commerce works to improve the business environment north of Boston through programs including, but not limited to, monthly Business Insight Breakfast Forums, After Hours Networking events,and Business Leads groups, along with annual signature events such as the North Shore Business Expo and Salute to Veterans Breakfast. The Chamber presents monthly audience-targeted (professional women, young professionals, etc.) seminars on business-related topics. The Chamber also advocates for business interests through various channels while working in conjunction with similar nonprofit organizations. The Chamber held 50 events in the past fiscal year, all aimed at cultivating business for its membership and working to improve the business climate on the North Shore as a whole.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $305,865
Program Service Revenue $605,320
Investment Income $2,746
Other Revenue $98,535
TOTAL REVENUE $1,012,466

Expense Breakdown

Grants Paid $0
Salaries & Benefits $615,413
Fundraising Expenses $0
Other Expenses $361,192
TOTAL EXPENSES $976,605

Year-over-Year Comparison

2024 2023 Change
Revenue $1,012,466 $1,034,743 0.0%
Expenses $976,605 $1,011,267 0.0%
Net Income $35,861 $23,476 +0.5%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
50
Independent Members
48
Employees
8
Volunteers
100

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$260,505
Total Directors
46
$0
Key Employees
1
$260,505
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOSEPH RILEY CHAIRMAN 3.00
Officer
$0 $0 $0
JOHN COLUCCI CHAIR-ELECT 3.00
Officer
$0 $0 $0
DARREN AMBLER IMMEDIATE PAST CHAIR 2.00
Officer
$0 $0 $0
PAUL KURKER TREASURER 3.00
Officer
$0 $0 $0
PATRICIA BECKWITH CLERK 3.00
Officer
$0 $0 $0
MAX BERGERON DIRECTOR 1.00
Director
$0 $0 $0
GLENN BOUTCHIE JR DIRECTOR 1.00
Director
$0 $0 $0
DANIEL BROTHERS DIRECTOR 1.00
Director
$0 $0 $0
BERNADETTE BUTTERFIELD DIRECTOR 1.00
Director
$0 $0 $0
CAROLYN CAMPOT DIRECTOR 1.00
Director
$0 $0 $0
GEORGE CAREY DIRECTOR 1.00
Director
$0 $0 $0
DENNIS CATALDO DIRECTOR 1.00
Director
$0 $0 $0
MARY ANNE CLANCY DIRECTOR 1.00
Director
$0 $0 $0
JAY CONNOLLY DIRECTOR 1.00
Director
$0 $0 $0
JOSEPH CORRENTI DIRECTOR 1.00
Director
$0 $0 $0
DEREK DAVOLI DIRECTOR 1.00
Director
$0 $0 $0
JEFFREY DOHERTY DIRECTOR 1.00
Director
$0 $0 $0
ROBERT C DRAKE DIRECTOR 1.00
Director
$0 $0 $0
SARAH DUCOTT DIRECTOR 1.00
Director
$0 $0 $0
DAVID EIDLE DIRECTOR 1.00
Director
$0 $0 $0
WILLIAM FARIA DIRECTOR 1.00
Director
$0 $0 $0
HANNAH GINLEY DIRECTOR 1.00
Director
$0 $0 $0
SUSAN GRIFFIN DIRECTOR 1.00
Director
$0 $0 $0
JOHN HALSEY DIRECTOR 1.00
Director
$0 $0 $0
LLOYD HAMM DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL HARRINGTON DIRECTOR 1.00
Director
$0 $0 $0
NICHOLAS HARRON DIRECTOR 1.00
Director
$0 $0 $0
WILLIAM HEINEMAN DIRECTOR 1.00
Director
$0 $0 $0
JOHN INGS DIRECTOR 1.00
Director
$0 $0 $0
STEPHEN JOHNSON DIRECTOR 1.00
Director
$0 $0 $0
JOHN KEENAN DIRECTOR 1.00
Director
$0 $0 $0
GREG KLEMMER DIRECTOR 1.00
Director
$0 $0 $0
MARYANN LEVASSEUR DIRECTOR 1.00
Director
$0 $0 $0
DAVID MORALES DIRECTOR 1.00
Director
$0 $0 $0
SAMANDA MORALES DIRECTOR 1.00
Director
$0 $0 $0
KAREN NASCEMBENI DIRECOR 1.00
Director
$0 $0 $0
SHEREE O'REILLY DIRECTOR 1.00
Director
$0 $0 $0
JONATHAN OFILOS DIRECTOR 1.00
Director
$0 $0 $0
ROBERT PELLEGRINI DIRECTOR 1.00
Director
$0 $0 $0
HEIDI RICCIO DIRECTOR 1.00
Director
$0 $0 $0
ROBERT RUDOLPH DIRECTOR 1.00
Director
$0 $0 $0
THOMAS SANDS DIRECTOR 1.00
Director
$0 $0 $0
JO ANN SIMONS DIRECTOR 1.00
Director
$0 $0 $0
BRADLEY SMALL DIRECTOR 1.00
Director
$0 $0 $0
LAURA SWANSON DIRECTOR 1.00
Director
$0 $0 $0
DOUGLAS THORPE DIRECTOR 1.00
Director
$0 $0 $0
DARCIA TREMBLAY DIRECTOR 1.00
Director
$0 $0 $0
KATHLEEN WALSH DIRECTOR 1.00
Director
$0 $0 $0
THOMAS WHEELER DIRECTOR 1.00
Director
$0 $0 $0
MARC WHITTAKER DIRECTOR 1.00
Director
$0 $0 $0
LAWRENCE ZABAR DIRECTOR 1.00
Director
$0 $0 $0
KAREN E ANDREAS PRESIDENT 40.00
Officer Key Emp Highest
$226,640 $33,865 $260,505
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $1,012,466 $976,605 $323,777 $35,861
2024 $1,031,183 $1,008,302 $422,253 $22,881
2023 $1,091,707 $1,193,125 $435,364 $-101,418
2022 $947,935 $928,599 $184,956 $19,336
2021 $720,223 $846,575 $236,280 $-126,352
2020 $500,274 $674,309 $392,738 $-174,035
2019 $635,833 $725,122 $477,113 $-89,289
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