What is a Chamber of Commerce?
What is a Chamber of Commerce?
A chamber of commerce is a group of businesses that gather and support each other within local communities. They can take on different shapes and forms to support the needs of their members, businesses, or leaders. Across the United States and world, chambers of commerce are created for a multitude of reasons:
Bringing together like-minded individuals
Bringing together business leaders focused on economic development for their community or business
Connect business owners that can benefit from complimentary services/products
Share strategies, business referrals, and networking opportunities
Introduce small and large business organizations
Introduce local business leaders
Offer a space for discussions of business strategy
The Colorado Neurodiversity Chamber of Commerce (CNDCC)
Our chamber of commerce focuses on the advancement of neurodivergent individuals in the workplace, business, entrepreneurial ventures, and leadership. We also aim to highlight neurodiversity in workplaces, associated advantages, challenges facing neurodivergent individuals in these environments, and changes needed. The CNDCC currently offers 5 membership levels that business and individual members can access. These levels of membership have been created to include everyone, from students and individual entrepreneurs, to medium and large scale businesses.
If you are interested in becoming more familiar with business communities in your area, we recommend joining your local chamber. Chambers of commerce provide individuals with several avenues to make connections and engage in educational opportunities. If you are interested in the Colorado Neurodiversity Chamber of Commerce, please reach out to our organization and we would be more than happy to discuss which business membership best applies to you and your company.
Who Can Join A Chamber of Commerce?
A chamber of commerce can be created to focus on certain business or sects of the population. Some of the most common chambers of commerce are those who focus on people of color, women, international leaders, and others. While most chambers of commerce can have a set of rules before joining, not all require individuals to have a certain background. There are chambers of commerce that are region based or international chambers that focus on bringing together different businesses. Regional chambers are often found in every major city and sometimes in major suburbs as well.
Chambers of Commerce are led by a board of directors, who relay to their members the goals of the organization. Members pay membership dues, or membership fees, to be associated with the organization. This grants them access to special networking events, fundraising events, and other chamber activities.
What is the Difference Between a 501(C)(3) and 501(C)(6)?
| 501(C)(3) | 501(C)(6) | |
|---|---|---|
| Purpose and Activity | Charitable and Educational Services like housing, food, distribution, education, religion, or other publicly beneficial actions | Not Charitable: Promotes common interests and improves business conditions. For business leagues, chambers of commerce, boards of trade, and professional football leagues |
| Tax Exempt Status | Except from federal, state, and local taxes requires form 1023 or form 1023-EZ Cost - $600 or $275 | Exempt from federal taxes, may not be from state and local taxes requires form 1024 Cost - $600 |
| Lobbying | Can advocate for causes within reason More restrictions - cannot influence legislation and support a candidate | Can participate in unlimited lobbying if related to their purpose Fewer restrictions - IRS will asses proxy tax penalty |
| Political Investment | Cannot participate in political campaigns or electioneering | Can actively take part in political and election campaign activities Must report percentages dues used on these activities to their members |
| Fundraising and Donations | Donations are considered charitable and tax-deductible | Donations are not tax-deductible |
| Donor Disclosure on IRS Form 900 | Must report donor information for gifts of $5,000 or more | Not required to report donor information to the IRS |
| Donor Disclosure to the Public | Private foundations must disclose donors to the public Public charities don't have to disclose donors | Not required to report donor information to the public |
| Grants | Can give and receive grants | Can receive grants of the company allows them to apply |