TY 2017 Form 990EZ

Form990EZ

Department of the Treasury
Internal Revenue Service

Short Form
Return of Organization Exempt From Income Tax

Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private foundations)

Do not enter social security numbers on this form as it may be made public.

Go to www.irs.gov/Form990EZ for instructions and the latest information.

OMB No. 1545-1150

2019

Open to Public
Inspection

Check if applicable:

Address change

Name change

Initial return

Final return/terminated

Amended return

Application pending

C Name of organization
THE CYPRUS US CHAMBER OF COMMERCE INC

Number and street (or P. O. box, if mail is not delivered to street address)C/O AD COMODROMOS 55 PARAMUS RD
Room/suite

City or town, state or province, country, and ZIP or foreign postal code PARAMUS, NJ07652

D Employer identification number

22-3600735

E Telephone number

(201) 444-5609

F Group Exemption
Number bullet

Part ⅢStatement of Program Service Accomplishments (see the instructions for Part III) Check if the organization used Schedule O to respond to any question in this Part III . .	Expenses (Required for section 501(c)(3) and 501(c)(4) organizations; optional for others.)
What is the organization's primary exempt purpose? THE ORGANIZATION'S PRIMARY PURPOSE IS TO PROMOTE AND EXTEND THE COMMERCIAL, INDUSTRIAL AND ECONOMIC RELATIONS BETWEEN THE REPUBLIC OF CYPRUS AND THE UNITED STATES, TO PROMOTE THE DEVELOPMENT OF COMMERCIAL EXCHANGES BETWEEN THEIR RESPECTIVE INDUSTRIES, TRADES AND BUSINESS, AND TO GIVE EVERY ASSISTANCE TO ITS MEMBERS TO ATTAIN THEIR BUSINESS AIMS
Describe the organization’s program service accomplishments for each of its three largest program services, as measured by expenses. In a clear and concise manner, describe the services provided, the number of persons benefited, and other relevant information for each program title.
28 Organize events that honors corporations and individuals who have raised the profile of Cyprus and made a contribution in strengthening trade relations between Cyprus and the United States. (Grants $ 51,281) If this amount includes foreign grants, check here ...			28a
29 The annual Cyprus-U.S. Chamber of Commerce Christmas party is a holiday event in which paid members of the Chamber can meet, network, and mingle in order to promote business between the Cyprus and the United States. (Grants $ 8,414) If this amount includes foreign grants, check here ...			29a
30 Made donations to non-for-profit organizations (Grants $ 8,009) If this amount includes foreign grants, check here ...			30a
31 Other program services (describe in Schedule O) ................ (Grants $ ) If this amount includes foreign grants, check here...	31a
32 Total program service expenses (add lines 28a through 31a)..........	32	67,704

(a) Name and title	(b) Average hours per week devoted to position	(c) Reportable compensation (Forms W-2/1099-MISC) (if not paid, enter -0-)	(d) Health benefits, contributions to employee benefit plans, and deferred compensation	(e) Estimated amount of other compensation
NICHOLAS KARACOSTAS Chairman	1.00	0
ANDREAS D COMODROMOS Chairman	1.00	0
NICOLAS NICOLAOU President	2.00	0
MARIA PAPPAS Secretary	1.00	0
MICHAEL HADJILOUCAS Vice President	1.00	0
PETROULA LAMBROU Treasurer	2.00	0

Yes

Did the organization engage in lobbying activities or have a section 501(h) election in effect during the tax year? If "Yes," complete Schedule C, Part II .......................

Is the organization a school as described in section 170(b)(1)(A)(ii)? If "Yes," complete Schedule E ..

49a

Did the organization make any transfers to an exempt non-charitable related organization?......

49a

If "Yes," was the related organization a section 527 organization?................

49b

Complete this table for the organization's five highest compensated employees (other than officers, directors, trustees and key employees) who each received more than $100,000 of compensation from the organization. If there is none, enter "None."

(a) Name and title of each employee	(b) Average hours per week devoted to position	(c) Reportable compensation (Forms W-2/1099-MISC)	(d) Health benefits, contributions to employee benefit plans, and deferred compensation	(e) Estimated amount of other compensation
NONE

Total number of other employees paid over $100,000 ............. bullet

Complete this table for the organization's five highest compensated independent contractors who each received more than $100,000 of compensation from the organization. If there is none, enter "None."

(a) Name and business address of each independent contractor	(b) Type of service	(c) Compensation
NONE

Return Reference	Explanation
Other Expenses.1001	Advertising and Promotion $2098
Other Expenses.1002	Office Expenses $1804
Other Expenses.1007	Conferences, Conventions, and Meetings $15171
Other Expenses.1	Donations $9509
Other Expenses.2	Dues & Subscriptions $3000
Other Expenses.3	WEBSITE $1406
Other Expenses.4	BANK CHARGES $446
Other Expenses.5	PHOTOS $230
Other Assets.1006	Pledges and Grants Receivable - Beginning $52152 Pledges and Grants Receivable - Ending $750
Other Assets.1011	Prepaid Expenses and Deferred Charges - Beginning $0 Prepaid Expenses and Deferred Charges - Ending $2802
Total Liabilities.1001	Accounts Payable and Accrued Expenses - Beginning $36465 Accounts Payable and Accrued Expenses - Ending $5659

Return Reference

Explanation

Other Expenses.1001

Advertising and Promotion $2098

Other Expenses.1002

Office Expenses $1804

Other Expenses.1007

Conferences, Conventions, and Meetings $15171

Other Expenses.1

Donations $9509

Other Expenses.2

Dues & Subscriptions $3000

Other Expenses.3

WEBSITE $1406

Other Expenses.4

BANK CHARGES $446

Other Expenses.5

PHOTOS $230

Other Assets.1006

Pledges and Grants Receivable - Beginning $52152 Pledges and Grants Receivable - Ending $750

Other Assets.1011

Prepaid Expenses and Deferred Charges - Beginning $0 Prepaid Expenses and Deferred Charges - Ending $2802

Total Liabilities.1001

Accounts Payable and Accrued Expenses - Beginning $36465 Accounts Payable and Accrued Expenses - Ending $5659

1	Contributions, gifts, grants, and similar amounts received ....................	1	1,500
2	Program service revenue including government fees and contracts ................	2
3	Membership dues and assessments .............................	3	3,964
4	Investment income ....................................	4	57
5a	Gross amount from sale of assets other than inventory .......	5a
b	Less: cost or other basis and sales expenses ............	5b	0
c	Gain or (loss) from sale of assets other than inventory (Subtract line 5b from line 5a) ......	5c
6	Gaming and fundraising events
a	Gross income from gaming (attach Schedule G if greater than $15,000)	6a
b	Gross income from fundraising events (not including $ of contributions from fundraising events reported on line 1) (attach Schedule G if the			sum of such gross income and contributions exceeds $15,000) ..	6b	132,106
c	Less: direct expenses from gaming and fundraising events ...	6c	86,604
d	Net income or (loss) from gaming and fundraising events (add lines 6a and 6b and subtract line 6c)	6d	45,502
7a	Gross sales of inventory, less returns and allowances ......	7a
b	Less: cost of goods sold .............	7b	0
c	Gross profit or (loss) from sales of inventory (Subtract line 7b from line 7a) .........	7c
8	Other revenue (describe in Schedule O) ....................	8
9	Total revenue. Add lines 1, 2, 3, 4, 5c, 6d, 7c, and 8 ..............	9	51,023

10	Grants and similar amounts paid (list in Schedule O) ................	10
11	Benefits paid to or for members ......................	11
12	Salaries, other compensation, and employee benefits ................	12
13	Professional fees and other payments to independent contractors ............	13	27,900
14	Occupancy, rent, utilities, and maintenance ...................	14
15	Printing, publications, postage, and shipping ...................	15
16	Other expenses (describe in Schedule O) ...................	16	33,664
17	Total expenses. Add lines 10 through 16 .................	17	61,564

Sign Here

	Signature of officer	Date

	Type or print name and title

Software ID:	17005038
Software Version:	2017v2.2

a	Mail solicitations	e	Solicitation of non-government grants
b	Internet and email solicitations	f	Solicitation of government grants
c	Phone solicitations	g	Special fundraising events
d	In-person solicitations

18	Excess or (deficit) for the year (Subtract line 17 from line 9) ............	18	-10,541
19	Net assets or fund balances at beginning of year (from line 27, column (A)) (must agree with
	end-of-year figure reported on prior year’s return) .................	19	201,482
20	Other changes in net assets or fund balances (explain in Schedule O) ...........	20
21	Net assets or fund balances at end of year. Combine lines 18 through 20 ..........	21	190,941

(i) Name and address of individual or entity (fundraiser)	(iii) Did fundraiser have custody or control of contributions?
	Yes	No










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