German American Chamber Of Commerce Inc

EIN: 131893850

New York, NY

Total Revenue
$7,654,142
Total Expenses
$7,083,579
Total Assets
$5,454,618
Net Assets
$2,298,875
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Financial Trends

Organization Details

Formation Year
1947
Legal Domicile
NY
Principal Officer
Susanne Gellert
Phone
2129748847
Tax Period
2023-01-01 to 2023-12-31

German American Chamber Of Commerce Inc, founded in 1947, is a community nonprofit that reported $7.7M in total revenue in fiscal year 2023. Expenses of $7.1M left a modest 7% surplus.

Mission

The German American Chamber of Commerce ("GACC") fosters the economic ties between Germany and the United States of America. Founded in 1947 it now also comprises of representation in Philadelphia and California. The GACC offers a wide range of services to the northeastern and western states. Benefiting from being close to Silicon Valley, the California branch mainly supports trendsetting industry sectors such as information technology, biotechnology, renewable energies, semi-conductors and nanotechnology.

Program Service Accomplishments

Program 1
Expenses: $1,581,913 Revenue: $954,221

As part of our services in establishing business presence in the U.S., we offer consulting services. These services include a wide range of integrative options, from detailed market studies to...

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As part of our services in establishing business presence in the U.S., we offer consulting services. These services include a wide range of integrative options, from detailed market studies to business correspondence services to potential partners. We customize our services according to each client's needs so that we are able to offer the best business partner referrals and the most options for commercial trade show preparations. Furthermore, we coordinate incentive programs to facilitate companies in exporting to the U.S. we also provide support for companies in their search for qualified bilingual employees. Consulting services include: market studies; office representations; individual business partner arrangement; U.S. market development; VHP USA; and recruitment service.

Program 2
Expenses: $1,202,585 Revenue: $725,407

The chamber is promoting the exchange of German and American interns to increase the mutual understanding of the two business cultures. Career services offers internship exchange programs for the...

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The chamber is promoting the exchange of German and American interns to increase the mutual understanding of the two business cultures. Career services offers internship exchange programs for the U.S. and Germany and is an official department of state designated J-1 visa sponsor organization. The internship program USA promotes the placement of student and young professional trainees from Germany with companies located throughout the U.S. these trainees are highly-qualified English-speakers who are available to actively train with a host-company for up to 18 months, when sponsored by the GACC J-1 exchange visitor visa program. Please apply online at our job exchange. The internship program Germany promotes the placement of American trainees from leading universities in the U.S. with companies in Germany. GACC career services assists in the procurement of the required work and residency permits for Germany. J-1 exchange visitor visa: the GACC career services operates an official state department designated J-1 visa program, by issuing a certificate of eligibility form DS-2019. The GACC can assist companies in the U.S. who have recruited their own trainees from Germany in obtaining the necessary J-1 visa for their candidates.

Program 3
Expenses: $6,465 Revenue: $3,900

The Chamber organizes and coordinates various events and seminars for young business leaders.

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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 (2023)

Revenue Breakdown

Contributions & Grants $3,032,032
Program Service Revenue $4,552,638
Investment Income $2,689
Other Revenue $66,783
TOTAL REVENUE $7,654,142

Expense Breakdown

Grants Paid $0
Salaries & Benefits $4,346,767
Fundraising Expenses $0
Program Expenses $5,826,774
Other Expenses $2,736,812
TOTAL EXPENSES $7,083,579

Year-over-Year Comparison

2023 2022 Change
Revenue $7,654,142 $7,301,963 +0.0%
Expenses $7,083,579 $7,377,522 0.0%
Net Income $570,563 $-75,559 -8.6%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
36
Independent Members
34
Employees
51
Volunteers
5

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
4
$0
Total Directors
39
$0
Key Employees
3
$1,064,904
Highest Compensated
4
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Jan Heck Chairman 1.00
Officer Director
$0 $0 $0
Bonnie Tully Vice Chairman 1.00
Officer Director
$0 $0 $0
Christian C Brune Vice Chairman 1.00
Officer Director
$0 $0 $0
Hilde Holland Esq Secretary 1.00
Officer Director
$0 $0 $0
Rudiger Albers Director 1.00
Director
$0 $0 $0
Volker Baer Director 1.00
Director
$0 $0 $0
Attila Arian Director 1.00
Director
$0 $0 $0
Andrew Campbell Director 1.00
Director
$0 $0 $0
Sven Doerge Director 1.00
Director
$0 $0 $0
Marc Ehrhardt Director 1.00
Director
$0 $0 $0
Jean-Claude Dubacher Director 1.00
Director
$0 $0 $0
Stephan Born Director 1.00
Director
$0 $0 $0
Jaroslav Gabor Director 1.00
Director
$0 $0 $0
Dr Alexander P Imberg Director 1.00
Director
$0 $0 $0
Christian Jagenberg Director 1.00
Director
$0 $0 $0
Rick Kasnick Director 1.00
Director
$0 $0 $0
Ragnar Kruse Director 1.00
Director
$0 $0 $0
Uve Kupka Director 1.00
Director
$0 $0 $0
Lars Leitner Director 1.00
Director
$0 $0 $0
Ralph-Peter Mueller Director 1.00
Director
$0 $0 $0
Sebastian Mackensen Director 1.00
Director
$0 $0 $0
Uwe Scharfy Director 1.00
Director
$0 $0 $0
Marco Schnabl Director 1.00
Director
$0 $0 $0
Jan-Patrick Schmitz Director 1.00
Director
$0 $0 $0
James H Sullivan Director 1.00
Director
$0 $0 $0
Christofer Von Nagel Director 1.00
Director
$0 $0 $0
Susanne von Turk Director 1.00
Director
$0 $0 $0
Kerstin Wagner Director 1.00
Director
$0 $0 $0
Bruce R White Director 1.00
Director
$0 $0 $0
Reinhard Wieck Director 1.00
Director
$0 $0 $0
Anthony Williams Director 1.00
Director
$0 $0 $0
Susannne Witte-Settineri Director 1.00
Director
$0 $0 $0
Katrin Zimmermann Director 1.00
Director
$0 $0 $0
Dr Siegfried Buschmann Honorary Director 1.00
Director
$0 $0 $0
David Detjen Honorary Director 1.00
Director
$0 $0 $0
Caroll H Neubauer Honorary Director 1.00
Director
$0 $0 $0
Standford Warshawsky Honorary Director 1.00
Director
$0 $0 $0
Andreas Fibig Honorary Director 1.00
Director
$0 $0 $0
Dirk Janzen Director 1.00
Director
$0 $0 $0
Dietmar Rieg President & CEO 40.00
Key Emp
$315,263 $52,870 $428,183
Susanne Gellert President & CEO 40.00
Key Emp
$240,909 $90,847 $377,643
Martin Kaiser Vice President & Treasurer 40.00
Key Emp
$159,449 $69,258 $259,078
Claus Habermeier Director GTAI 40.00
Highest
$170,558 $50,866 $221,424
Nicholas Anderson Director IT Administration 40.00
Highest
$129,635 $37,239 $193,426
Matthew Allen Director Career & Education 40.00
Highest
$166,289 $97,327 $263,616
Irene Fucks Director Membership/Events 40.00
Highest
$160,118 $56,858 $216,976
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
2024 No data No data No data No data
2023 $7,654,142 $7,083,579 $5,454,618 $570,563
2022 $7,301,963 $7,377,522 $4,887,127 $-75,559
2021 $6,890,973 $6,495,971 $3,820,432 $395,002
2020 $6,233,834 $6,490,637 $3,236,179 $-256,803
2019 $8,149,889 $8,110,502 $3,876,676 $39,387
2018 $8,395,272 $8,408,118 $3,526,922 $-12,846
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