LANCASTER CHAMBER OF COMMERCE & INDUSTRY

EIN: 232095463

LANCASTER, PA

Total Revenue
$2,255,001
Total Expenses
$2,232,760
Total Assets
$3,831,349
Net Assets
$1,498,447
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1979
Legal Domicile
PA
Principal Officer
HEATHER VALUDES
Phone
7173973531
Tax Period
2023-01-01 to 2023-12-31

LANCASTER CHAMBER OF COMMERCE & INDUSTRY, founded in 1979, is a community nonprofit that reported $2.3M in total revenue in fiscal year 2023. Revenue decreased 9% compared to the prior year.

Mission

THE LANCASTER CHAMBER OF COMMERCE & INDUSTRY'S MISSION IS TO CREATE THE ENVIRONMENT, FACILITATE PARTNERSHIPS, AND LEAD ON ISSUES THAT ELEVATE BUSINESS SUCCESS. THE CHAMBER HAS 5 STRATEGIC PRIORITIES: PUBLIC POLICY, WORKFORCE, BUSINESS SOLUTIONS, DE&I AND CHAMBER EXCELLENCE.

Program Service Accomplishments

Program 1

IN 2023 THE CHAMBER ENGAGED ITS WORK ON 3 KEY PRIORITIES.1) PUBLIC POLICY: THE CHAMBER INFORMS AND ADVOCATES ON BEHALF OF OUR MEMBERS WHICH SUPPORT BUSINESS, PEOPLE, AND PLACES.- 22 ADVOCACY...

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IN 2023 THE CHAMBER ENGAGED ITS WORK ON 3 KEY PRIORITIES.1) PUBLIC POLICY: THE CHAMBER INFORMS AND ADVOCATES ON BEHALF OF OUR MEMBERS WHICH SUPPORT BUSINESS, PEOPLE, AND PLACES.- 22 ADVOCACY COMMITTEE MEMBERS, A VOLUNTEER GROUP MADE UP OF BUSINESS PROFESSIONALS, MET FOR OVER 330 HOURS TO DISCUSS POLICY AND ADVOCACY INITIATIVES THAT HELPED THE CHAMBER DEVELOP 3 POSITION STATEMENTS, SIGN 11 LETTERS OF SUPPORT, DRAFT 5 PUBLIC COMMENTS, AND ADVOCATED FOR MULTIPLE BILLS THAT PASSED INTO LAW, INCLUDING INVESTMENTS INTO CHILDCARE, CLEAN SLATE EXPANSION, FUNDING FOR K-12 SCHOOLS, AND PERMITTING REFORM.- BETWEEN OUR STAFF INTERACTIONS, AND OPPORTUNITIES TO ENGAGE AT EVENTS, THE LANCASTER CHAMBER REPRESENTED BUSINESS IN 83 HOURS OF CONVERSATIONS WITH ALL LEVELS OF GOVERNMENT AND ELECTED OFFICIALS.- 110 BUSINESS PROFESSIONALS LEARNED ABOUT AND GATHERED RESOURCES ON HIRING JUSTICE-INVOLVED INDIVIDUALS AS A SEGMENT OF OUR WORKFORCE PIPELINE.2) BUSINESS SOLUTIONS: THE CHAMBER ANALYZES, ASSESSES, AND NAVIGATES TO PROVIDE TIMELY RESOURCES AND FORWARD-FOCUSED SOLUTIONS TO THE BUSINESS COMMUNITY.- FROM UPSKILLING OUR INCUMBENT WORKFORCE TO LEADERSHIP DEVELOPMENT TRAINING, 2,956 EMPLOYEES OF MEMBER BUSINESSES SPENT 226.5 HOURS IN LEARNING OR PROFESSIONAL DEVELOPMENT PROGRAMS.- 3,055 MEMBERS SPENT A COMBINED 83 HOURS OF NETWORKING AND BUILDING BUSINESS RELATIONSHIPS AT OUR OVER 40 NETWORKING SPECIFIC EVENTS- NEW MANAGER ACADEMY, OUR LONG-TIME PROFESSIONAL DEVELOPMENT PROGRAM, GRADUATED ITS 500TH MANAGER IN 20233) DIVERSITY, EQUITY & INCLUSION: THE CHAMBER CONTRIBUTED TO A MORE INCLUSIVE AND EQUITABLE WORKPLACE, WORKFORCE, AND COMMUNITY.- 1,098 PEOPLE GATHERED, REPRESENTING A DIVERSE RANGE OF ETHNIC AND CULTURAL BACKGROUNDS, TO CULTIVATE MEANINGFUL BUSINESS CONNECTIONS AT 20 EVENTS AND PROGRAMS LIKE OUR HISPANIC BUSINESS LUNCH, WOMEN IN BUSINESS PROGRAMMING AND BIPOC NETWORKING.- 15 MINORITY OWNED BUSINESS OWNERS SERVED AS COHORT MEMBERS IN THE UNDERREPRESENTED BUSINESS PARTNERSHIPS SINCE 2022- OF THE 157 SPEAKERS PRESENTING ON BEHALF OF THE LANCASTER CHAMBER, 85 WERE WOMEN AND 22% REPRESENTED MINORITY GROUPS.

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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 $403,156
Program Service Revenue $1,674,390
Investment Income $39,789
Other Revenue $137,666
TOTAL REVENUE $2,255,001

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,198,607
Fundraising Expenses $0
Other Expenses $1,034,153
TOTAL EXPENSES $2,232,760

Year-over-Year Comparison

2023 2022 Change
Revenue $2,255,001 $2,471,476 -0.1%
Expenses $2,232,760 $2,379,896 -0.1%
Net Income $22,241 $91,580 -0.8%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
15
Independent Members
14
Employees
31
Volunteers
250

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
$300,768
Total Directors
16
$207,612
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DONNA KREISER CHAIR 6.00
Officer Director
$0 $0 $0
JOHN SEROKY PAST CHAIR 6.00
Director
$0 $0 $0
ALEX BRAME TREASURER, CHAIR ELECT 6.00
Officer Director
$0 $0 $0
ERIC WENGER TREASURER 6.00
Officer Director
$0 $0 $0
MIGUEL NISTAL EXECUTIVE BOARD AT LARGE 6.00
Officer Director
$0 $0 $0
TIMBREL CHYATEE BOARD MEMBER 3.00
Director
$0 $0 $0
JOCELYN ENGLE BOARD MEMBER 3.00
Director
$0 $0 $0
RACHEL GALLAGHER BOARD MEMBER 3.00
Director
$0 $0 $0
ERIC ORNDORFF BOARD MEMBER 3.00
Director
$0 $0 $0
VANESSA PHILBERT BOARD MEMBER 3.00
Director
$0 $0 $0
DR KATHRYN SANDOE BOARD MEMBER 3.00
Director
$0 $0 $0
GENISE WADE BOARD MEMBER 3.00
Director
$0 $0 $0
STACY WHISEL BOARD MEMBER 3.00
Director
$0 $0 $0
DR DANIEL A WUBAH BOARD MEMBER 3.00
Director
$0 $0 $0
MICHEL VERMETTE BOARD MEMBER 3.00
Director
$0 $0 $0
HEATHER VALUDES PRESIDENT & CEO 36.25
Officer Director
$172,256 $35,356 $207,612
JULIE HOUCK DIRECTOR OF FINANCE 36.25
Officer
$72,473 $20,683 $93,156
THOMAS WALLACE DIRECTOR OF BUSINESS DEVELOPMENT 36.25
Highest
$105,017 $12,178 $117,195
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 $2,255,001 $2,232,760 $3,831,349 $22,241
2022 $2,471,476 $2,379,896 $4,067,110 $91,580
2021 $2,692,826 $2,469,470 $2,782,986 $223,356
2020 $2,985,933 $2,141,183 $2,190,029 $844,750
2019 $3,028,665 $2,836,217 $1,297,501 $192,448
2018 $3,041,217 $3,051,836 $902,906 $-10,619
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