MARYLAND CHAMBER OF COMMERCE INC

EIN: 521784310

ANNAPOLIS, MD

Total Revenue
$2,532,370
Total Expenses
$2,481,921
Total Assets
$1,898,446
Net Assets
$462,403
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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
1968
Legal Domicile
MD
Principal Officer
MARY KANE
Phone
4102690642
Tax Period
2024-01-01 to 2024-12-31

MARYLAND CHAMBER OF COMMERCE INC, founded in 1968, is a community nonprofit that reported $2.5M in total revenue in fiscal year 2024.

Mission

THE MISSION OF THE MARYLAND CHAMBER OF COMMERCE IS TO ADVANCE INCLUSIVE PARTNERSHIPS FOR A MARYLAND WHERE ALL BUSINESSES AND THEIR COMMUNITIES THRIVE.

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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 $5,098
Program Service Revenue $2,423,703
Investment Income $46,293
Other Revenue $57,276
TOTAL REVENUE $2,532,370

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,570,647
Fundraising Expenses $0
Other Expenses $911,274
TOTAL EXPENSES $2,481,921

Year-over-Year Comparison

2024 2023 Change
Revenue $2,532,370 $2,383,753 +0.1%
Expenses $2,481,921 $2,249,646 +0.1%
Net Income $50,449 $134,107 -0.6%
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
56
Independent Members
56
Employees
15
Volunteers
58

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
10
$866,985
Total Directors
59
$487,303
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MARY KANE PRESIDENT/CEO 37.50
Officer Director
$259,535 $37,770 $297,305
GRASON WIGGINS VICE PRESIDENT OF GOVERNMENT AFFAIRS 37.50
Officer Director
$182,500 $7,498 $189,998
GRACELYN MCDERMOTT IMMEDIATE PAST CHAIR 1.00
Officer Director
$0 $0 $0
FIONA ONG COUNSEL 1.00
Officer Director
$0 $0 $0
BILL CHAMBERS LOCAL CHAMBER REP 1.00
Officer Director
$0 $0 $0
MISTY ALLEN CHAIRMAN 1.00
Officer Director
$0 $0 $0
AMIR AHMADZADEH VICE-CHAIRMAN 1.00
Officer Director
$0 $0 $0
JOSEPH OCHIPINTI COMMITTEE MEMBER 1.00
Director
$0 $0 $0
CHRIS BARBER COMMITTEE CHAIR 1.00
Director
$0 $0 $0
ROBERT GROHOWSKI COMMITTEE MEMBER 1.00
Director
$0 $0 $0
MICHAEL HUBER COMMITTEE CHAIR 1.00
Director
$0 $0 $0
AISHA CHILDS DIRECTOR 1.00
Director
$0 $0 $0
ANDREW SINGER DIRECTOR 1.00
Director
$0 $0 $0
ANYA MALKOV DIRECTOR 1.00
Director
$0 $0 $0
BETH CARO DIRECTOR 1.00
Director
$0 $0 $0
CHARLES WASHINGTON DIRECTOR 1.00
Director
$0 $0 $0
CHRISTINE ASPELL DIRECTOR 1.00
Director
$0 $0 $0
CHRISTOPHER FRECH DIRECTOR 1.00
Director
$0 $0 $0
CHRISTOPHER GRIFFITH DIRECTOR 1.00
Director
$0 $0 $0
CHUCK CONNER DIRECTOR 1.00
Director
$0 $0 $0
DAMITA ROBINSON TREASURER 1.00
Officer Director
$0 $0 $0
DREW GETTY DIRECTOR 1.00
Director
$0 $0 $0
EFRAIN PEREZ AGOSTO DIRECTOR 1.00
Director
$0 $0 $0
ELENA MARCUSS DIRECTOR 1.00
Director
$0 $0 $0
FELICIA DANIEL DIRECTOR 1.00
Director
$0 $0 $0
FRANCIS KELLY DIRECTOR 1.00
Director
$0 $0 $0
GREG SMITH DIRECTOR 1.00
Director
$0 $0 $0
JACK TERRY DIRECTOR 1.00
Director
$0 $0 $0
JAMES HAYES DIRECTOR 1.00
Director
$0 $0 $0
JAMES WAGNER DIRECTOR 1.00
Director
$0 $0 $0
JAY STEINMETZ DIRECTOR 1.00
Director
$0 $0 $0
JEFF SCHWARTZ DIRECTOR 1.00
Director
$0 $0 $0
JOHN SHEFF DIRECTOR 1.00
Director
$0 $0 $0
JONATHON RONDEAU DIRECTOR 1.00
Director
$0 $0 $0
JOSEPH ASKEW DIRECTOR 1.00
Director
$0 $0 $0
JOSEPH CORTINA DIRECTOR 1.00
Director
$0 $0 $0
KIMBERLY ROYSTER DIRECTOR 1.00
Director
$0 $0 $0
MARA L SIEROCINSKI DIRECTOR 1.00
Director
$0 $0 $0
MARC KMEC DIRECTOR 1.00
Director
$0 $0 $0
MARK HUNTLEY DIRECTOR 1.00
Director
$0 $0 $0
MARY PENCZEK DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL KIELY DIRECTOR 1.00
Director
$0 $0 $0
MICHELE MASUCCI DIRECTOR 1.00
Director
$0 $0 $0
MIKE MALANDRO DIRECTOR 1.00
Director
$0 $0 $0
MINDY LEHMAN DIRECTOR 1.00
Director
$0 $0 $0
NATALIE COTTON DIRECTOR 1.00
Director
$0 $0 $0
ROBERT HEAD DIRECTOR 1.00
Director
$0 $0 $0
ROGER WARD DIRECTOR 1.00
Director
$0 $0 $0
ROMAINE SMALLWOOD-FAISON DIRECTOR 1.00
Director
$0 $0 $0
RYAN ELLER DIRECTOR 1.00
Director
$0 $0 $0
SANDY ANGELLO DIRECTOR 1.00
Director
$0 $0 $0
STEVE EDWARDS DIRECTOR 1.00
Director
$0 $0 $0
STEVE KENSINGER DIRECTOR 1.00
Director
$0 $0 $0
SUNIL KOLHEKAR DIRECTOR 1.00
Director
$0 $0 $0
SUSAN LACZ DIRECTOR 1.00
Director
$0 $0 $0
THOMAS CORMIER DIRECTOR 1.00
Director
$0 $0 $0
TRAVIS CUTLER DIRECTOR 1.00
Director
$0 $0 $0
VALENCIA MCCLURE DIRECTOR 1.00
Director
$0 $0 $0
WALTER SIMMONS DIRECTOR 1.00
Director
$0 $0 $0
ANDREW GRIFFIN VP OF GOVERNMENT AFFAIRS 37.50
Officer
$170,000 $5,551 $175,551
WHITNEY HARMEL EXECUTIVE VICE PRESIDENT 37.50
Officer
$183,700 $20,431 $204,131
ABIGAIL LUDWIG DIRECTOR OF MARKETING 37.50
Highest
$123,000 $11,664 $134,664
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 $2,532,370 $2,481,921 $1,898,446 $50,449
2023 $2,383,753 $2,249,646 $1,933,519 $134,107
2022 $1,936,072 $1,871,673 $2,010,748 $64,399
2021 $1,888,756 $1,425,350 $840,412 $463,406
2020 $1,549,265 $1,307,311 $506,928 $241,954
2019 $1,593,060 $1,628,146 $204,288 $-35,086
2018 $1,474,934 $1,639,308 $224,198 $-164,374
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