CHAMBER OF BUSINESS & INDUSTRY OF CENTRE

EIN: 251196048 Community Improvement

STATE COLLEGE, PA

Total Revenue
$1,329,962
Total Expenses
$1,114,835
Total Assets
$4,627,407
Net Assets
$3,763,882
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1952
Legal Domicile
PA
Principal Officer
GREG SCOTT
Phone
8142341829
Tax Period
2024-01-01 to 2024-12-31

CHAMBER OF BUSINESS & INDUSTRY OF CENTRE, founded in 1952, is a community nonprofit in the Community Improvement sector that reported $1.3M in total revenue in fiscal year 2024. The organization ran a surplus of $215K, a strong 16% operating margin.

Mission

TO PROMOTE THE WELL-BEING AND GROWTH OF COMMERCE, BUSINESS AND INDUSTRY, WHILE STRIVING TO MAINTAIN A HIGH QUALITY OF LIFE IN CENTRE COUNTY.

Program Service Accomplishments

Program 1

ACTIVELY PROMOTE THE BUSINESS BASE OF CENTRE COUNTY AND THE SURROUNDING AREA. ASSISTING, ENCOURAGING, AND PROMOTING PROPOSED OR PROJECTED BUSINESS DEVELOPMENT.

Program 2

OPERATE CHAMBER OF COMMERCE FOR CENTRAL PENNSYLVANIA BUSINESS MEMBERSHIP (977 TOTAL) MEMBERS. PROVIDE TRAINING, PROGRAMS, NETWORK EVENTS, PUBLICATIONS, COMMON SERVICES, ADVERTISING, WEBSITE PROMOTION...

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OPERATE CHAMBER OF COMMERCE FOR CENTRAL PENNSYLVANIA BUSINESS MEMBERSHIP (977 TOTAL) MEMBERS. PROVIDE TRAINING, PROGRAMS, NETWORK EVENTS, PUBLICATIONS, COMMON SERVICES, ADVERTISING, WEBSITE PROMOTION AND OTHER PROGRAM RELATED ACTIVITIES FOR MEMBERS.

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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 $881,094
Program Service Revenue $223,057
Investment Income $205,411
Other Revenue $20,400
TOTAL REVENUE $1,329,962

Expense Breakdown

Grants Paid $0
Salaries & Benefits $612,249
Fundraising Expenses $0
Other Expenses $502,586
TOTAL EXPENSES $1,114,835

Year-over-Year Comparison

2024 2023 Change
Revenue $1,329,962 $1,368,130 0.0%
Expenses $1,114,835 $981,198 +0.1%
Net Income $215,127 $386,932 -0.4%
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

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Liquidity & Cash Position

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Governance

Voting Members
22
Independent Members
22
Employees
8
Volunteers
20

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
$176,827
Total Directors
22
$176,827
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ADAM BRUMBAUGH MEMBER 1.00
Director
$0 $0 $0
GREGORY HAYES MEMBER 1.00
Director
$0 $0 $0
CHERYL JOHNSON TREASURER 2.00
Officer Director
$0 $0 $0
ALISON KURTZ MEMBER 1.00
Director
$0 $0 $0
ELLEN KLINE MEMBER 1.00
Director
$0 $0 $0
CHRIS MAGENT MEMBER 1.00
Director
$0 $0 $0
JOHN RODGERS MEMBER 1.00
Director
$0 $0 $0
DUANE BULLOCK MEMBER 1.00
Director
$0 $0 $0
CURTIS JOHNSON MEMBER 1.00
Director
$0 $0 $0
O J JOHNSTON CHAIR 4.00
Officer Director
$0 $0 $0
TERESA SPARACINO MEMBER 1.00
Director
$0 $0 $0
TOM FOUNTAINE MEMBER 1.00
Director
$0 $0 $0
JOHN SEPP PAST CHAIR 1.00
Officer Director
$0 $0 $0
CRISTIN LONG MEMBER 1.00
Director
$0 $0 $0
TOM CHARLES MEMBER 1.00
Director
$0 $0 $0
SARAH THORNDIKE SECRETARY 2.00
Officer Director
$0 $0 $0
MARK HIGGINS MEMBER 1.00
Director
$0 $0 $0
ZACK MOORE MEMBER 1.00
Director
$0 $0 $0
KIRK THOMAS VICE CHAIR 2.00
Officer Director
$0 $0 $0
GREG SCOTT PRESIDENT/CEO 40.00
Officer Director
$176,827 $0 $176,827
FRITZ SMITH MEMBER 1.00
Director
$0 $0 $0
MATT STUCKEY MEMBER 1.00
Director
$0 $0 $0
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 $1,329,962 $1,114,835 $4,627,407 $215,127
2023 $1,368,130 $981,198 $4,508,609 $386,932
2022 $806,851 $759,579 $3,642,903 $47,272
2021 $750,853 $802,527 $4,141,588 $-51,674
2020 $1,072,140 $872,521 $3,817,769 $199,619
2019 $869,201 $1,047,476 $3,820,531 $-178,275
2018 $797,021 $1,041,040 $4,249,143 $-244,019
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