Civic Intelligence

Middletown Area Chamber of Commerce Foundation

990 • Fiscal year 2022 • EIN 90-0944432

Jul 01, 2021 to Jun 30, 2022 • Filed on Sep 15, 2022

Organization Profilewww.mbide.com
1050 Industrial Drive Suite 110Middletown, DE 19709

(302) 375-7545

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

58th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

58th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

38th percentile

-0.9%

Higher net margin than 38% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

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

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Asset Growth

43rd percentile

-1.5%

Faster asset growth than 43% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

44th percentile

3.0%

Faster revenue growth than 44% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets58th percentile

Assets

Down

$64,782

Down $998 (-1.5%) from 2021

Net Assets

Down

$64,782

Down $998 (-1.5%) from 2021

Liabilities

Flat

$0

Flat from 2021

Revenue And Expenses
Liabilities / Revenue58th percentileNet Margin38th percentile

Revenue

Up

$114,816

Up $3,370 (+3.0%) from 2021

Expenses

Up

$115,814

Up $6,637 (+6.1%) from 2021

Net Income

Down

-$998

Down $3,267 (-144%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth43rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150K$100K$50K$0Assets 2013: $0Liabilities 2013: $0Net Assets 2013: $02013Assets 2015: $26,509Liabilities 2015: $3,605Net Assets 2015: $22,9042015Assets 2016: $55,854Liabilities 2016: $0Net Assets 2016: $55,8542016Assets 2017: $45,879Liabilities 2017: $0Net Assets 2017: $45,8792017Assets 2018: $39,722Liabilities 2018: $0Net Assets 2018: $39,7222018Assets 2019: $33,989Liabilities 2019: $189Net Assets 2019: $33,8002019Assets 2020: $113,411Liabilities 2020: $49,900Net Assets 2020: $63,5112020Assets 2021: $65,780Liabilities 2021: $0Net Assets 2021: $65,7802021Assets 2022: $64,782Liabilities 2022: $0Net Assets 2022: $64,7822022Assets 2023: $64,742Liabilities 2023: $0Net Assets 2023: $64,7422023Assets 2024: $102,767Liabilities 2024: $4,613Net Assets 2024: $98,1542024Assets 2025: $120,447Liabilities 2025: $7,702Net Assets 2025: $112,7452025

Highlighted filing

2022

Assets$64,782
Liabilities$0
Net Assets$64,782
Open 2022 Filing

Operations Trend

Revenue Growth44th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$150K$100K$50K$0-$50KRevenue 2013: $0Expenses 2013: $0Net Income 2013: $02013Revenue 2015: $87,650Expenses 2015: $64,746Net Income 2015: $22,9042015Revenue 2016: $102,126Expenses 2016: $69,176Net Income 2016: $32,9502016Revenue 2017: $68,523Expenses 2017: $78,498Net Income 2017: -$9,9752017Revenue 2018: $100,046Expenses 2018: $117,750Net Income 2018: -$17,7042018Revenue 2019: $49,171Expenses 2019: $58,443Net Income 2019: -$9,2722019Revenue 2020: $121,495Expenses 2020: $88,548Net Income 2020: $32,9472020Revenue 2021: $111,446Expenses 2021: $109,177Net Income 2021: $2,2692021Revenue 2022: $114,816Expenses 2022: $115,814Net Income 2022: -$9982022Revenue 2023: $100,461Expenses 2023: $102,000Net Income 2023: -$1,5392023Revenue 2024: $70,751Expenses 2024: $37,339Net Income 2024: $33,4122024Revenue 2025: $135,906Expenses 2025: $121,315Net Income 2025: $14,5912025

Highlighted filing

2022

Revenue$114,816
Expenses$115,814
Net Income-$998
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Sep 15, 2022
Return Version
2021v4.2
Gross Receipts
$114,816
Mission and Program Overview

Mission

Promote small business development in middletown de by providing programs that nurture small and micro businesses and enhance the available workforce.

See Schedule O

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$65,780$64,782▼ $998
Land, Buildings, and Equipment, Net$23,266$21,721▼ $1,545
Cash and Non-Interest-Bearing Accounts$13,386$14,997▲ $1,611
Accounts Receivable-$-1,500-
Total Assets$65,780$64,782▼ $998
Other Assets Total$29,128$29,564▲ $436
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$65,780$64,782▼ $998
Total Liabilities and Net Assets / Fund Balance$65,780$64,782▼ $998

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$19,565$3,685$23,250
Other Land Buildings$329$13,604$13,933
Equipment$1,827$5,965$7,792
Other Assets Org$17,908--
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
Patrick CarsonPresident
Debbie AmentVice President
Anthony TeoliDirector
Mary JamesonDirector
Rick MazzioDirector
Sheri BarberDirector
Sital SoniDirector
William ONealDirector
Neil StalterSecretary
Sharon GilkeyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$50,750
Program Service Revenue
$64,029
Investment Income
$37
Other Revenue
$0
Change in Net Assets
$-998
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$115,814
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$90,013--$90,013
Fees for Services Management$12,000--$12,000
Office Expenses$10,238--$10,238
Depreciation Depletion-$1,545-$1,545
Fees for Services Other$1,000--$1,000
Fees for Services Accounting$500--$500
Fees for Services Legal$384--$384
Conferences and Meetings$134--$134
Total Functional Expenses$114,269$1,545$0$115,814
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
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

Members or stockholder classes and rights Part VI line 6

“The Foundation is organized with stockholders of the Board.”

Committee meeting documentation Part VI line 8B

“Each Board meeting is documented by the Secretary, disseminated appropriately and stored accordingly.”

Form 990 governing body review Part VI line 11

“The Board reviews all tax returns before signing and filing.”

Conflict of interest policy compliance Part VI line 12C

“The Board reguarly oversees at each meeting and addresses, if any compliance issues.”

CEO executive director top management comp Part VI line 15A

“The Compensation of the Executive Director is reviewed each year by the Executive Board.”

Other officer or key employee compensation Part VI line 15B

“The Executive Board reviews annually all compensation of all other members of the organization.”

Form 990 availability to public Part VI line 18

“All documents are available to the public upon request.”

Governing documents etc available to public Part VI line 19

“All documents are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Middletown Area Chamber Foundation
EIN
90-0944432
Address
1050 Industrial Drive Suite 110, Middletown, DE 19709

Signing Officer

Name
Patrick Carson
Title
President
Phone
3025401621
Signed
2022-09-15
Discuss with paid preparer
Yes

Organization Details

Formed
2012
Legal Domicile
De
Voting Board Members
8
Independent Board Members
8
Employees
0

Preparer

Firm
Northern Bay Accounting LLC
Address
100 Newark Avenue, Elkton, MD 21921
Preparer
Sharon P Gilkey
Phone
4109207215
Supplemental Narrative

Additional Explanations

General explanation attachment

“Form 990 - Organizations Mission or Most Significant ActivitiesThe Middletown Business Incubator and Collaborative Workspace (MBI) will serve as a enterprise business center that provides resources for business and entrepreneuers. By inspiring entrepreneurship through opportunity, the MBI will foster economic growth for the MOT sorrounding areasForm 990 - Oganizations MissionThe Middletown Area Chamber of Commerce is a non-profit organization dedicated to the economic development of the Southern New Castle County area. The Chamber provides advocay, leadership and networking within the business community and serves as a catalyst for the promotion of our members; as well as a information resource center for the MOT (Middletown, Odessa & Townsend) Comrm 990 Organizations Mission”

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IRS990ScheduleD/EquipmentGrp/BookValueAmt01827
IRS990ScheduleD/EquipmentGrp/DepreciationAmt05965
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt07792
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt019565
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt03685
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt023250
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt011656
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt117908
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Security Deposit
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Due tofrom Chamber
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0329
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt013604
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt013933
IRS990ScheduleD/TotalBookValueLandBuildingsAmt021721
IRS990ScheduleD/TotalBookValueOtherAssetsAmt029564
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Foundation is organized with stockholders of the Board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Each Board meeting is documented by the Secretary, disseminated appropriately and stored accordingly.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Board reviews all tax returns before signing and filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Board reguarly oversees at each meeting and addresses, if any compliance issues.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The Compensation of the Executive Director is reviewed each year by the Executive Board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The Executive Board reviews annually all compensation of all other members of the organization.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6All documents are available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7All documents are available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Form 990 - Organizations Mission or Most Significant ActivitiesThe Middletown Business Incubator and Collaborative Workspace (MBI) will serve as a enterprise business center that provides resources for business and entrepreneuers. By inspiring entrepreneurship through opportunity, the MBI will foster economic growth for the MOT sorrounding areasForm 990 - Oganizations MissionThe Middletown Area Chamber of Commerce is a non-profit organization dedicated to the economic development of the Southern New Castle County area. The Chamber provides advocay, leadership and networking within the business community and serves as a catalyst for the promotion of our members; as well as a information resource center for the MOT (Middletown, Odessa & Townsend) Comrm 990 Organizations Mission
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Members or stockholder classes and rights Part VI line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Committee meeting documentation Part VI line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990 availability to public Part VI line 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8General explanation attachment
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt065780
IRS990/TotalAssetsEOYAmt064782
IRS990/TotalAssetsGrp/BOYAmt065780
IRS990/TotalAssetsGrp/EOYAmt064782
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt050750
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01545
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0114269
IRS990/TotalFunctionalExpensesGrp/TotalAmt0115814
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt065780
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt064782
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0114269
IRS990/TotalProgramServiceRevenueAmt064029
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt064066
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0114816
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt065780
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt064782
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0www.mbide.com
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL2
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/OOBSecurityVerificationCd000
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Patrick Carson
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum03025401621
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-09-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Middletown Area Chamber Foundation
ReturnHeader/Filer/BusinessNameControlTxt0MIDD
ReturnHeader/Filer/EIN0900944432
ReturnHeader/Filer/USAddress/AddressLine1Txt01050 Industrial Drive Suite 110
ReturnHeader/Filer/USAddress/CityNm0Middletown
ReturnHeader/Filer/USAddress/StateAbbreviationCd0DE
ReturnHeader/Filer/USAddress/ZIPCd019709
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0263934944
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Northern Bay Accounting LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0100 Newark Avenue
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Elkton
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd021921
ReturnHeader/PreparerPersonGrp/PhoneNum04109207215
ReturnHeader/PreparerPersonGrp/PreparationDt02022-09-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Sharon P Gilkey
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02022-09-12T15:24:25-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Patrick
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Carson
ReturnHeader/TaxPeriodBeginDt02021-07-01
ReturnHeader/TaxPeriodEndDt02022-06-30
ReturnHeader/TaxYr02021

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$64,782
Liabilities
$0
Net assets
$64,782
Revenue
$114,816
Expenses
$115,814
Net income
-$998
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.20$0.08$1.13$1.36$1.21$0.15
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.03$0.05$0.98$0.71$0.37$0.33
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.65$0.00$0.65$1.00$1.02$0.02
2022Detailed filing. Detailed filing data is available for this year.$0.65$0.00$0.65$1.15$1.16$0.01
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.66$0.00$0.66$1.11$1.09$0.02
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.13$0.50$0.64$1.21$0.89$0.33
2019Summary only. Only limited summary data is available for this year.$0.34$0.00$0.34$0.49$0.58$0.09
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.40$0.00$0.40$1.00$1.18$0.18
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.46$0.00$0.46$0.69$0.78$0.10
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.56$0.00$0.56$1.02$0.69$0.33
2015Detailed filing. Detailed filing data is available for this year.$0.27$0.04$0.23$0.88$0.65$0.23
2013XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$0.00$0.00$0.00$0.00$0.00