HUNTERDON COUNTY CHAMBER OF COMMERCE FOUNDATION

EIN: 462604491 501(c)(3) Community Improvement

FLEMINGTON, NJ

Total Revenue
$495,590
Total Expenses
$270,287
Total Assets
$1,607,445
Net Assets
$634,067
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Financial Trends

Organization Details

Formation Year
2013
Legal Domicile
NJ
Principal Officer
CHRISTOPHER PHELAN
Phone
9087827115
Tax Period
2023-01-01 to 2023-12-31

HUNTERDON COUNTY CHAMBER OF COMMERCE FOUNDATION, founded in 2013, is a small nonprofit in the Community Improvement sector that reported $496K in total revenue in fiscal year 2023. Revenue surged 272% from the prior year, signaling strong growth momentum. The organization ran a surplus of $225K, a strong 45% operating margin.

Mission

THE GOALS OF THIS ORGANIZATION ARE TO ESTABLISH A CENTER FOR BUSINESS & ENTREPRENEURSHIP AND ALSO EFFECTIVELY FOCUSING THE SKILLS AND RESOURCES OF THE GREATER HUNTERDON COUNTY BUSINESS COMMUNITY THROUGH BUSINESS RESOURCES, ECONOMIC & WORKFORCE DEVELOPMENT, LEADERSHIP DEVELOPMENT, TOURISM, PHILANTHROPY, AND THE PROMOTION OF THE CIVIC, EDUCATIONAL, CULTURAL, AND ECONOMIC INTEREST OF THE REGION.

Program Service Accomplishments

Program 1
Expenses: $134,378 Revenue: $18,260

LEADERSHIP HUNTERDON, A PROGRAM INITIATED IN 2012 BY THE HUNTERDON COUNTY CHAMBER OF COMMERCE, WAS CREATED TO TRANSFORM PEOPLE TO BECOME TRUSTEES OF OUR COMMUNITIES, TO BECOME LEADERSHIP RESOURCES...

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LEADERSHIP HUNTERDON, A PROGRAM INITIATED IN 2012 BY THE HUNTERDON COUNTY CHAMBER OF COMMERCE, WAS CREATED TO TRANSFORM PEOPLE TO BECOME TRUSTEES OF OUR COMMUNITIES, TO BECOME LEADERSHIP RESOURCES, AND WORK FOR THE BETTERMENT OF HUNTERDON COUNTY. ONE OF THE GOALS FOR PARTICIPANTS IN LEADERSHIP HUNTERDON IS TO DEVELOP STRONG LEADERSHIP QUALITIES WITHIN THEIR RESPECTIVE ORGANIZATIONS. INDIVIDUALS ARE ABLE TO ENHANCE THEIR DECISION MAKING AND STRATEGIC THINKING AND ACQUIRE IN-DEPTH EXPOSURE TO HUNTERDON COUNTY BUSINESS LEADERS, COMMUNITY LEADERS, NON-PROFIT LEADERS AND POLITICAL LEADERSHIP. THE CLASS IS MADE UP OF INDIVIDUALS FROM LOCAL BUSINESSES AND NON-PROFIT ORGANIZATIONS THAT HAVE A PASSION TO LEARN ABOUT HUNTERDON COUNTY AS WELL AS THEMSELVES. FOR NINE MONTHS, THE CLASS BECOMES IMMERSED IN A "BEHIND THE SCENES" OVERVIEW OF HUNTERDON COUNTY THAT EXPLORES THE MANY FACETS THAT SHAPE THE CURRENT MAKE-UP OF THE COUNTY.

Program 2

THE BUSINESS HALL OF FAME WAS ESTABLISHED IN 2017 TO RECOGNIZE INDIVIDUALS, ORGANIZATIONS AND COMPANIES THAT HAVE MADE SIGNIFICANT LIFETIME ACCOMPLISHMENTS TO THE HUNTERDON COUNTY BUSINESS COMMUNITY...

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THE BUSINESS HALL OF FAME WAS ESTABLISHED IN 2017 TO RECOGNIZE INDIVIDUALS, ORGANIZATIONS AND COMPANIES THAT HAVE MADE SIGNIFICANT LIFETIME ACCOMPLISHMENTS TO THE HUNTERDON COUNTY BUSINESS COMMUNITY. THE EVENT IS GEARED TO EDUCATE AND INSPIRE OUR CURRENT BUSINESS COMMUNITY, AND THROUGH A SERIES OF VIDEOS, HAVE AN EDUCATIONAL COMPONENT THAT WILL BE SHARED WITH THE COMMUNITY AND OUR EDUCATIONAL SYSTEM TO INSPIRE THE NEXT GENERATION OF ENTREPRENEURSHIP IN HUNTERDON COUNTY. THERE WAS NO ACTIVITY FOR THE BUSINESS HALL OF FAME IN 2023.

Program 3
Expenses: $83,190

THE FOUNDATION PROVIDES A HOME FOR THE PLATFORM, PROGRAMMING, AND ACTIVITIES THAT COMPRISE THE CENTER FOR BUSINESS AND ENTREPRENEURSHIP. THE CENTER PROVIDES BENEFITS FOR BOTH THE PROFIT AND...

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THE FOUNDATION PROVIDES A HOME FOR THE PLATFORM, PROGRAMMING, AND ACTIVITIES THAT COMPRISE THE CENTER FOR BUSINESS AND ENTREPRENEURSHIP. THE CENTER PROVIDES BENEFITS FOR BOTH THE PROFIT AND NON-PROFIT COMMUNITY.

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Trantor Score

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $448,785
Program Service Revenue $18,260
Investment Income $245
Other Revenue $28,300
TOTAL REVENUE $495,590

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $16,729
Program Expenses $217,568
Other Expenses $270,287
TOTAL EXPENSES $270,287

Year-over-Year Comparison

2023 2022 Change
Revenue $495,590 $133,355 +2.7%
Expenses $270,287 $153,007 +0.8%
Net Income $225,303 $-19,652 -12.5%
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
8
Independent Members
8
Employees
N/A
Volunteers
50

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
9
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
AMY CONOVER BOARD MEMBER 1.00
Director
$0 $0 $0
NICHOLAS PELLITTA ESQ IMMEDIATE PA 1.00
Officer Director
$0 $0 $0
ROSEMARY FELLNER BOARD MEMBER 1.00
Director
$0 $0 $0
EDWARD KUROWICKI BOARD MEMBER 1.00
Director
$0 $0 $0
ELIZABETH LOEW BOARD MEMBER 1.00
Director
$0 $0 $0
JANIS REGA BOARD MEMBER 1.00
Director
$0 $0 $0
JAMES ROBINSON BOARD MEMBER 1.00
Director
$0 $0 $0
KAREN WIDICO EXECUTIVE DI 1.00
Officer Director
$0 $0 $0
DANIEL JAMES WRIGHT CHAIR 1.00
Officer Director
$0 $0 $0
CHRISTOPHER PHELAN PRES./CEO/SE 15.00
Officer
$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 No data No data No data No data
2023 $495,590 $270,287 $1,607,445 $225,303
2022 $133,355 $153,007 $1,425,597 $-19,652
2021 $178,178 $164,745 $1,487,018 $13,433
2020 $207,783 $162,649 $1,538,829 $45,134
2019 $158,968 $265,291 $1,151,824 $-106,323
2018 $113,928 $213,747 $1,186,170 $-99,819
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