Civic Intelligence

Mystic Chamber of Commerce

EIN 06-0861879 • 501(c)6 • Mystic, CT

Profile

The organization's mission is to foster and promote business for members and to play an active role in the community, bringing together the towns of stonington and groton, connecticut, and to address concerns of the mystic business community.

22 East Main St - 2nd FloorMystic, CT 06355

www.mysticchamber.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

39th percentile

0.01x

Higher debt load relative to assets than 39% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

33rd percentile

0.00x

Higher debt load relative to revenue than 33% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Source year 2024

Net Margin

62nd percentile

8.1%

Higher net margin than 62% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)6 • $500k-$1M nonprofits • Source year 2024

Asset Growth

86th percentile

27%

Faster asset growth than 86% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

71st percentile

15%

Faster revenue growth than 71% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets39th percentile

Assets

Up

$266,072

Up $56,278 (+27%) from 2023

Liabilities

Down

$3,201

Down $2,363 (-42%) from 2023

Net Assets

Up

$262,871

Up $58,641 (+29%) from 2023

Operations
Liabilities / Revenue33rd percentileNet Margin62nd percentile

Revenue

Up

$727,320

Up $93,062 (+15%) from 2023

Expenses

Up

$668,679

Up $29,408 (+4.6%) from 2023

Net Income

Up

$58,641

Up $63,654 (+1270%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth86th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$300K$200K$100K$0-$100KAssets 2010: $44,596Liabilities 2010: $105,999Net Assets 2010: -$61,4032010Assets 2011: $42,113Liabilities 2011: $88,813Net Assets 2011: -$46,7002011Assets 2012: $75,014Liabilities 2012: $74,649Net Assets 2012: $3652012Assets 2013: $65,647Liabilities 2013: $70,753Net Assets 2013: -$5,1062013Assets 2014: $63,787Liabilities 2014: $97,286Net Assets 2014: -$33,4992014Assets 2015: $45,109Liabilities 2015: $88,882Net Assets 2015: -$43,7732015Assets 2016: $53,903Liabilities 2016: $62,576Net Assets 2016: -$8,6732016Assets 2017: $93,478Liabilities 2017: $94,471Net Assets 2017: -$9932017Assets 2018: $85,572Liabilities 2018: $111,563Net Assets 2018: -$25,9912018Assets 2019: $78,512Liabilities 2019: $81,881Net Assets 2019: -$3,3692019Assets 2020: $144,889Liabilities 2020: $53,042Net Assets 2020: $91,8472020Assets 2021: $243,628Liabilities 2021: $42,088Net Assets 2021: $201,5402021Assets 2022: $225,226Liabilities 2022: $1,847Net Assets 2022: $223,3792022Assets 2023: $209,794Liabilities 2023: $5,564Net Assets 2023: $204,2302023Assets 2024: $266,072Liabilities 2024: $3,201Net Assets 2024: $262,8712024

Highlighted filing

2024

Assets$266,072
Liabilities$3,201
Net Assets$262,871
Open 2024 Filing

Operations Trend

Revenue Growth71st percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$800K$600K$400K$200K$0-$200KRevenue 2010: $511,124Expenses 2010: $503,014Net Income 2010: $8,1102010Revenue 2011: $341,389Expenses 2011: $326,686Net Income 2011: $14,7032011Expenses 2012: $505,5972012Revenue 2013: $456,637Expenses 2013: $462,103Net Income 2013: -$5,4662013Revenue 2014: $368,293Expenses 2014: $396,516Net Income 2014: -$28,2232014Revenue 2015: $360,190Expenses 2015: $370,464Net Income 2015: -$10,2742015Revenue 2016: $312,147Expenses 2016: $277,047Net Income 2016: $35,1002016Revenue 2017: $269,770Expenses 2017: $262,090Net Income 2017: $7,6802017Revenue 2018: $308,333Expenses 2018: $333,331Net Income 2018: -$24,9982018Revenue 2019: $274,605Expenses 2019: $265,013Net Income 2019: $9,5922019Revenue 2020: $254,612Expenses 2020: $159,396Net Income 2020: $95,2162020Revenue 2021: $374,227Expenses 2021: $264,534Net Income 2021: $109,6932021Revenue 2022: $676,826Expenses 2022: $641,654Net Income 2022: $35,1722022Revenue 2023: $634,258Expenses 2023: $639,271Net Income 2023: -$5,0132023Revenue 2024: $727,320Expenses 2024: $668,679Net Income 2024: $58,6412024

Highlighted filing

2024

Revenue$727,320
Expenses$668,679
Net Income$58,641
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$266,072
Liabilities
$3,201
Net assets
$262,871
Revenue
$727,320
Expenses
$668,679
Net income
$58,641
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.66$0.03$2.63$7.27$6.69$0.59
2023Detailed filing. Detailed filing data is available for this year.$2.10$0.06$2.04$6.34$6.39$0.05
2022Detailed filing. Detailed filing data is available for this year.$2.25$0.02$2.23$6.77$6.42$0.35
2021Detailed filing. Detailed filing data is available for this year.$2.44$0.42$2.02$3.74$2.65$1.10
2020Detailed filing. Detailed filing data is available for this year.$1.45$0.53$0.92$2.55$1.59$0.95
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.79$0.82$0.03$2.75$2.65$0.10
2018Detailed filing. Detailed filing data is available for this year.$0.86$1.12$0.26$3.08$3.33$0.25
2017Detailed filing. Detailed filing data is available for this year.$0.93$0.94$0.01$2.70$2.62$0.08
2016Detailed filing. Detailed filing data is available for this year.$0.54$0.63$0.09$3.12$2.77$0.35
2015Detailed filing. Detailed filing data is available for this year.$0.45$0.89$0.44$3.60$3.70$0.10
2014Detailed filing. Detailed filing data is available for this year.$0.64$0.97$0.33$3.68$3.97$0.28
2013Detailed filing. Detailed filing data is available for this year.$0.66$0.71$0.05$4.57$4.62$0.05
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.75$0.75$0.00$5.06
2011Summary only. Only limited summary data is available for this year.$0.42$0.89$0.47$3.41$3.27$0.15
2010Summary only. Only limited summary data is available for this year.$0.45$1.06$0.61$5.11$5.03$0.08
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Feb 21, 2025
Return Version
2024v5.0
Gross Receipts
$727,320
Mission and Program Overview

Mission

The organization's mission is to foster and promote business for members and to play an active role in the community, bringing together the towns of stonington and groton, connecticut, and to address concerns of the mystic business community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$188,456$240,159▲ $51,703
Land, Buildings, and Equipment, Net$21,338$25,913▲ $4,575
Total Assets$209,794$266,072▲ $56,278
Liabilities
Accounts Payable and Accrued Expenses$5,564$3,201▼ $2,363
Total Liabilities$5,564$3,201▼ $2,363
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$204,230$262,871▲ $58,641
Total Net Assets Fund Balance$204,230$262,871▲ $58,641
Total Liabilities and Net Assets / Fund Balance$209,794$266,072▲ $56,278

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$25,913$32,939$58,852
Compensation and Service Providers
Top Officer Pay49th percentile

Board Members and Trustees

NameTitle
Amanda ArlingChair
Chris ReganVice Chair
David LabbeVice Chair
Shannon MckenzieSecretary
Johan LiebenbergTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$211,517
Program Service Revenue
$515,179
Investment Income
$624
Other Revenue
$0
All Other Contributions
$25,083
Change in Net Assets
$58,641
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$407,358
Salaries, Compensation, and Employee Benefits$261,321
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$124,729--$124,729
Current Officers, Directors, Trustees, and Key Employees$97,000--$97,000
Fees for Services Other$67,423--$67,423
Occupancy$52,937--$52,937
Other Employee Benefits$39,592--$39,592
Information Technology$18,695--$18,695
Fees for Services Accounting$17,565--$17,565
Advertising$11,374--$11,374
Insurance$10,742--$10,742
All Other Expenses$7,696--$7,696
Other Expenses$6,770--$6,770
Office Expenses$657$1,687-$2,344
Total Functional Expenses$666,992$1,687$0$668,679
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
No
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“Enterprises and individuals interested in the commercial, industrial and civic progress of the community.”

Form 990, Page 6, Part VI, Line 7A

“The members are entitled to vote under the ct revised non-stock corporation act, inlcuding electing members to the board of directors.”

Form 990, Page 6, Part VI, Line 11B

“Completed return is reviewed with the executive director prior to signature and submission.”

Form 990, Page 6, Part VI, Line 15A

“Annually during the budget process when applicable comparable data is reviewed. Governing body approves both budget and compensation.”

Form 990, Page 6, Part VI, Line 15B

“Compensation for the top managerial officer and all other employees is rev iewed annually during the budget process when applicable comparable data i s reviewed. Governing body must approve the budget.”

Form 990, Page 6, Part VI, Line 19

“Documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Mystic Chamber of Commerce
EIN
06-0861879
Phone
8605729578
Address
22 EAST MAIN ST - 2ND FLOOR, MYSTIC, CT 06355

Signing Officer

Name
Bruce Flax
Title
Executive Director
Phone
8605729578
Signed
2025-02-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bruce Flax
Formed
1937
Legal Domicile
Ct
Voting Board Members
18
Independent Board Members
18
Employees
9
Volunteers
25

Preparer

Firm
Mystic Accounting Group Llp
Address
PO BOX 397, MYSTIC, CT 06355
Preparer
Richard B Steele CPA
Phone
8605361040
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The organization's mission is to foster and promote business for members and to play an active role in the community, bringing together the towns of stonington and groton, connecticut, and to address concerns of the mystic business community.”

Form 990, Page 2, Part III, Line 4D

“Sponsor local festivals which allow area business to display their products or services and organize business meetings and functions to forster education of the members and to provide networking opportunities for members.”

Form 990, Part IX, Line 11G

“Mystic outdoor af other event expenses 7,121 0 0 0 0 0 visitor center other visitor center exp 9,094 0 0 0 0 0 various other events other event expenses 51,208 0 0 total 67,423 0 0”

Form 990, Part XI, Line 9

“Prior account adjustments 0”

Raw XML Appendix316 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/TotalBookValueLandBuildingsAmt025913
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S MISSION IS TO FOSTER AND PROMOTE BUSINESS FOR MEMBERS AND TO PLAY AN ACTIVE ROLE IN THE COMMUNITY, BRINGING TOGETHER THE TOWNS OF STONINGTON AND GROTON, CONNECTICUT, AND TO ADDRESS CONCERNS OF THE MYSTIC BUSINESS COMMUNITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1SPONSOR LOCAL FESTIVALS WHICH ALLOW AREA BUSINESS TO DISPLAY THEIR PRODUCTS OR SERVICES AND ORGANIZE BUSINESS MEETINGS AND FUNCTIONS TO FORSTER EDUCATION OF THE MEMBERS AND TO PROVIDE NETWORKING OPPORTUNITIES FOR MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ENTERPRISES AND INDIVIDUALS INTERESTED IN THE COMMERCIAL, INDUSTRIAL AND CIVIC PROGRESS OF THE COMMUNITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE MEMBERS ARE ENTITLED TO VOTE UNDER THE CT REVISED NON-STOCK CORPORATION ACT, INLCUDING ELECTING MEMBERS TO THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COMPLETED RETURN IS REVIEWED WITH THE EXECUTIVE DIRECTOR PRIOR TO SIGNATURE AND SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ANNUALLY DURING THE BUDGET PROCESS WHEN APPLICABLE COMPARABLE DATA IS REVIEWED. GOVERNING BODY APPROVES BOTH BUDGET AND COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6COMPENSATION FOR THE TOP MANAGERIAL OFFICER AND ALL OTHER EMPLOYEES IS REV IEWED ANNUALLY DURING THE BUDGET PROCESS WHEN APPLICABLE COMPARABLE DATA I S REVIEWED. GOVERNING BODY MUST APPROVE THE BUDGET.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8MYSTIC OUTDOOR AF OTHER EVENT EXPENSES 7,121 0 0 0 0 0 VISITOR CENTER OTHER VISITOR CENTER EXP 9,094 0 0 0 0 0 VARIOUS OTHER EVENTS OTHER EVENT EXPENSES 51,208 0 0 TOTAL 67,423 0 0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9PRIOR ACCOUNT ADJUSTMENTS 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9FORM 990, PART XI, LINE 9
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0true
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0209794
IRS990/TotalAssetsEOYAmt0266072
IRS990/TotalAssetsGrp/BOYAmt0209794
IRS990/TotalAssetsGrp/EOYAmt0266072
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0211517
IRS990/TotalEmployeeCnt09
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01687
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0666992
IRS990/TotalFunctionalExpensesGrp/TotalAmt0668679
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt05564
IRS990/TotalLiabilitiesEOYAmt03201
IRS990/TotalLiabilitiesGrp/BOYAmt05564
IRS990/TotalLiabilitiesGrp/EOYAmt03201
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0204230
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0262871
IRS990/TotalProgramServiceRevenueAmt0515179
IRS990/TotalRevenueGrp/ExclusionAmt0624
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0515179
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0727320
IRS990/TotalVolunteersCnt025
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0209794
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0266072
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt022 EAST MAIN ST - 2ND FLOOR
IRS990/USAddress/CityNm0MYSTIC
IRS990/USAddress/StateAbbreviationCd0CT
IRS990/USAddress/ZIPCd006355
IRS990/VotingMembersGoverningBodyCnt018
IRS990/VotingMembersIndependentCnt018
IRS990/WebsiteAddressTxt0WWW.MYSTICCHAMBER.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BRUCE FLAX
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum08605729578
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-02-21
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MYSTIC CHAMBER OF COMMERCE
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0INC
ReturnHeader/Filer/BusinessNameControlTxt0MYST
ReturnHeader/Filer/EIN0060861879
ReturnHeader/Filer/PhoneNum08605729578
ReturnHeader/Filer/USAddress/AddressLine1Txt022 EAST MAIN ST - 2ND FLOOR
ReturnHeader/Filer/USAddress/CityNm0MYSTIC
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CT
ReturnHeader/Filer/USAddress/ZIPCd006355
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0472604526
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MYSTIC ACCOUNTING GROUP LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 397
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MYSTIC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd006355
ReturnHeader/PreparerPersonGrp/PhoneNum08605361040
ReturnHeader/PreparerPersonGrp/PreparationDt02025-02-21
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RICHARD B STEELE CPA
ReturnHeader/ReturnTs02025-02-24T16:07:10-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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