Civic Intelligence

Maryland Chamber Foundation

EIN 52-1557804 • 501(c)3 • Annapolis, MD

Profile

To support the shared vision of a better maryland. With priorities like research, development, and education, the foundation is a cornerstone of community-building in business.

60 West Street 100Annapolis, MD 21401-2434

www.mdchamber.org/FOUNDATION

Siviq Scores

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

Liabilities / Assets

76th percentile

0.07x

Higher debt load relative to assets than 76% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

80th percentile

0.08x

Higher debt load relative to revenue than 80% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Net Margin

83rd percentile

33%

Higher net margin than 83% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

86th percentile

46%

Faster asset growth than 86% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

19th percentile

-44%

Faster revenue growth than 19% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Assets

Up

$167,787

Up $52,935 (+46%) from 2023

Liabilities

Up

$11,646

Up $2,349 (+25%) from 2023

Net Assets

Up

$156,141

Up $50,586 (+48%) from 2023

Revenue

Down

$151,972

Down $119,036 (-44%) from 2023

Expenses

Down

$101,386

Down $140,865 (-58%) from 2023

Net Income

Up

$50,586

Up $21,829 (+76%) from 2023

Trend Graphs

Balance Sheet Trend

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

$200K$150K$100K$50K$0Assets 2019: $13,709Liabilities 2019: $13,0002019Assets 2021: $111,474Liabilities 2021: $10,224Net Assets 2021: $101,2502021Assets 2022: $81,304Liabilities 2022: $4,506Net Assets 2022: $76,7982022Assets 2023: $114,852Liabilities 2023: $9,297Net Assets 2023: $105,5552023Assets 2024: $167,787Liabilities 2024: $11,646Net Assets 2024: $156,1412024

Highlighted filing

2024

Assets$167,787
Liabilities$11,646
Net Assets$156,141

Operations Trend

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

$300K$200K$100K$0-$100KRevenue 2019: $93,515Expenses 2019: $79,578Net Income 2019: $13,9372019Revenue 2021: $207,682Expenses 2021: $249,446Net Income 2021: -$41,7642021Revenue 2022: $246,100Expenses 2022: $270,552Net Income 2022: -$24,4522022Revenue 2023: $271,008Expenses 2023: $242,251Net Income 2023: $28,7572023Revenue 2024: $151,972Expenses 2024: $101,386Net Income 2024: $50,5862024

Highlighted filing

2024

Revenue$151,972
Expenses$101,386
Net Income$50,586

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Aug 4, 2025
Return Version
2024v5.2
Gross Receipts
$151,972
Mission and Program Overview

Mission

To support the shared vision of a better maryland. With priorities like research, development, and education, the foundation is a cornerstone of community-building in business.

The maryland chamber foundation is focused on the research and educational objectives of the maryland chamber of commerce, including analysis of maryland's economy and business climate, talent pipeline and economic competitiveness.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$114,852$167,787▲ $52,935
Total Assets$114,852$167,787▲ $52,935
Liabilities
Accounts Payable and Accrued Expenses$2,547$7,896▲ $5,349
Other Liabilities$6,750$3,750▼ $3,000
Total Liabilities$9,297$11,646▲ $2,349
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$95,555$113,141▲ $17,586
Net Assets With Donor Restrictions$10,000$43,000▲ $33,000
Total Net Assets Fund Balance$105,555$156,141▲ $50,586
Total Liabilities and Net Assets / Fund Balance$114,852$167,787▲ $52,935
Compensation and Service Providers

Board Members and Trustees

NameTitle
Jim CantorChairman
Mary KanePresident/CEO
Brandon ButlerDirector
Marsha AndersonDirector
Mel LitterDirector
Tim AdamsDirector
Whitney HarmelDirector
Fiona OngCouncel
Steven EdwardsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$149,950
Program Service Revenue
$0
Investment Income
$2,022
Other Revenue
$0
All Other Contributions
$149,950
Change in Net Assets
$50,586

Audited Revenue Reconciliation

Revenue per Audited Statements
$151,972
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$151,972
Total Revenue per Form 990
$151,972
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$49,582
Grants and Similar Amounts Paid$32,500
Other Expenses$19,304
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$19,485$30,097-$49,582
Grants to Domestic Individuals$32,500--$32,500
Other Expenses$10,263--$10,263
Fees for Services Accounting-$7,837-$7,837
Office Expenses$158$1,046-$1,204
Total Functional Expenses$62,406$38,980$0$101,386

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$101,386
Total Expenses per Audited Statements$101,386
Total Expenses per Form 990$101,386
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Event Sponsorships$3,750
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
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
No
Other officer compensation reviewed
No
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, Part VI, Section B, Line 11B

Members of the board reviewed the draft form 990 prior to filing.

Form 990, Part VI, Section B, Line 12C

Each director and officer annually signs a statement affirming (a)received a copy of the conflict of interest policy (b)has read and understands the policy (c)agress to comply with the policy (d)understands that the foundation is a non-profit which must engage primarily in activities which accomplishes its tax exempt purposes in order to maintain its federal tax exemption. Minutes of the governing board contain names of persons which have actual or possible conflicts of interest, all relevent data and the decision as to whether a conflict of interest in fact existed, all discussions and names of those participating and the record of votes are documented.

Form 990, Part VI, Section C, Line 19

Governing document and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Maryland Chamber Foundation
EIN
52-1557804
Phone
4102690642
Address
60 WEST STREET 100, ANNAPOLIS, MD 21401-2434

Signing Officer

Name
Whitney Harmel
Title
Executive Director
Phone
4102690642
Signed
2025-08-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Whitney Harmel
Formed
1988
Legal Domicile
Md
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
9

Preparer

Firm
Ellin & Tucker Chartered
Address
400 EAST PRATT ST SUITE 200, BALTIMORE, MD 21202
Preparer
Chandini Shah
Phone
4107275735
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The foundation follows the provisions of accounting for uncertainty in income taxes under the income taxes topic of the codification. The codification requires the evaluation of tax positions, which include maintaining its tax-exempt status and the taxability of any unrelated business income, and does not allow recognition of tax positions which do not meet a "more-likely-than-not" threshold of being sustained by the applicable tax authority. Management does not believe it took any tax positions that would not meet this threshold.

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IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0151972
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0101386
IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt032500
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0STIPEND
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt05
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE MARYLAND CHAMBER FOUNDATION'S TEACHER EXTERNSHIP PROGRAM PROVIDES STIPENDS TO TEACHER EXTERNS, WHO PARTICIPATE IN A FOURWEEK SUMMER PROGRAM, WHICH BUILDS BRIDGES BETWEEN BUSINESSES AND EDUCATORS BY PAIRING HIGH SCHOOL TEACHERS WITH TOP MARYLAND BUSINESSES WHO PROVIDE HANDS ON EXPERIENCE IN INDUSTRIES RELATED TO THE SUBJECTS THEY TEACH. THE KNOWLEDGE TEACHERS GAIN ALLOW THEM TO ENHANCE THEIR CURRICULUM AND EDUCATE THEIR STUDENTS ON BOTH THE HARD AND SOFT SKILLS REQUIRED TO ENTER THE WORKFORCE AND OBTAIN A LIVABLE-WAGE CAREER.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I PART III
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt023600
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt116700
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0235935
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1167000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt011797
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt18350
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt025973
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt112081
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0MARY KANE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1WHITNEY HARMEL
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT/CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0297305
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1204131
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MEMBERS OF THE BOARD REVIEWED THE DRAFT FORM 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH DIRECTOR AND OFFICER ANNUALLY SIGNS A STATEMENT AFFIRMING (A)RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY (B)HAS READ AND UNDERSTANDS THE POLICY (C)AGRESS TO COMPLY WITH THE POLICY (D)UNDERSTANDS THAT THE FOUNDATION IS A NON-PROFIT WHICH MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISHES ITS TAX EXEMPT PURPOSES IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION. MINUTES OF THE GOVERNING BOARD CONTAIN NAMES OF PERSONS WHICH HAVE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, ALL RELEVENT DATA AND THE DECISION AS TO WHETHER A CONFLICT OF INTEREST IN FACT EXISTED, ALL DISCUSSIONS AND NAMES OF THOSE PARTICIPATING AND THE RECORD OF VOTES ARE DOCUMENTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENT AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0MARYLAND CHAMBER OF COMMERCE INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0521784310
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(6)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0TO SUPPORT MARYLAND'S BUSINESSES AND INDUSTRIAL SECTORS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt060 WEST STREET SUITE 100
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0ANNAPOLIS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd021401
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt049583
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0FMV
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0MARYLAND CHAMBER OF COMMERCE INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0P
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MD
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0114852
IRS990/TotalAssetsEOYAmt0167787
IRS990/TotalAssetsGrp/BOYAmt0114852
IRS990/TotalAssetsGrp/EOYAmt0167787
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt0149950
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt038980
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt062406
IRS990/TotalFunctionalExpensesGrp/TotalAmt0101386
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt09297
IRS990/TotalLiabilitiesEOYAmt011646
IRS990/TotalLiabilitiesGrp/BOYAmt09297
IRS990/TotalLiabilitiesGrp/EOYAmt011646
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0105555
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0156141
IRS990/TotalOtherCompensationAmt058201
IRS990/TotalProgramServiceExpensesAmt062406
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt02022
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0151972
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt09
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0114852

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