As today’s Annual “State of Our City” Mayoral Address Membership Breakfast has been postponed until March 17 (yes, St. Patrick’s Day) due to concerns over the ongoing spread of Coronavirus (COVID-19) and its related variants, I still want to take this opportunity to share my annual address on the State of Our Chamber with you.
The Pandemic ranks as the most-challenging of times during my now 22-year tenure as ECCI’s President and CEO and three decades of Chamber service—more so than the Great Recession of 2007-09 or even the 9-11 terrorist attacks of 2001, which marked its 20th Anniversary last September.
Speaking for both our Chamber and myself, we feel blessed to be relatively healthy when so many businesses and individuals have not survived this economic and medical crisis. We have kept our door open for business during regular office hours throughout the Pandemic, and no full-time or part-time staff members were furloughed or fired.
While negative impacts of the two-year-old COVID-19 Pandemic cannot be downplayed, the Elmhurst Chamber of Commerce and Industry accomplished much worth celebrating in 2021—which will be done in fine fashion at our Chamber’s 103rd Annual Awards Gala hosted by Elmhurst University come March 25 (instead of the traditional late January date).
Honorees include (no surprise here) Sesquicentennial-celebrating and Awards Gala host Elmhurst University as the A.J. “Toche” Terrones Business of the Year; the late Jackie Hayden (Delta RMS), a COVID-19 casualty herself, as the Ambassador of the Year; Elmhurst History Museum Director Dave Oberg as the Chairman’s Award recipient; and former EU President and First Lady Bryant and Jeanette Cureton as ECCI Civic Hall of Fame inductees.
During 2021, ECCI joined the U.S. Chamber of Commerce in endorsing two major bipartisan federal bills—the $1.9 trillion American Rescue Plan Act and $1.2T Infrastructure Investment and Jobs Act—to expand pandemic relief and foster job growth. ARP increased Paycheck Protection Program (PPP) funding through the U.S. Small Business Administration (SBA) of forgivable loans for small businesses and not-for-profit organizations (including chambers of commerce) to pay for rent, employees and related expenses.
ECCI supported the refunding of both the Illinois Department of Commerce and Economic Opportunity’s (IDCEO) Back to Back Grant program and County of DuPage’s Reinvest DuPage Grant administered by Choose DuPage, our County’s economic development agency.
Last June, our Chamber resumed in-person monthly networking events, safely conducting Membership Breakfast and Business After Hours. September’s Chamber of Commerce Month activities featured our belated 102nd Annual Awards Gala as a breakfast event in Elmhurst American Legion THB Post 187’s Normandy Banquet Room and “Networking on the 9s,” our 73rd Annual Golf Outing held at the Elmhurst Park District’s Sugar Creek Golf Course. With ECCI’s assistance, last October’s Second Annual Nashville Songwriter Fundraiser generated more than $20,000 to benefit our American Legion Post.
Striving to comply with ever-changing federal, state, county and city mandates, our Chamber worked tirelessly (and safely) during the past 103rd year in operation to help ANY AND ALL Elmhurst businesses to both sustain operations financially and keep their workforce employed.
Since the troubling gravity of the virus first revealed itself back in March of 2020, ECCI has advocated on our member’s behalf to assure that federal, state, county and city governmental agencies and elected officials understand the economic damage that COVID-19 and related public policy restrictions have inflicted on the Elmhurst business community.
Our Chamber also promoted patronage of Elmhurst restaurants and bars online via “Dine Out” From Home, a special website page which ranked as the No. 1 visited page among ECCI website users across Chicagoland over the 13-month period following its March 2020 development. “Dine Out” From Home marketed some 90 member and non-member restaurants and bars which were “open for business” via walk-in takeout, curbside pick-up, drive-thru and/or delivery options for patrons during multiple bans on indoor dining.
At a typical chamber, membership dues revenue covers the cost of staffing, but not much more. I am happy to report that Director of Member Services Grace Bagnole recruited a December record of 10 new members and reactivated the memberships of another four businesses.
While amount of membership dues income stabilized in 2021, our Chamber still endured the loss of non-dues revenue from the Pandemic-caused cancellation of fundraising programs and special events—including the City of Elmhurst’s Explore Elmhurst Summer Trolley, “Salute to…” Spring Luncheon, Pig Roast and a handful of multi-chamber networking and educational luncheons. Non-dues revenue is essential for a chamber to keep its financial head above water.
To safeguard ECCI’s future financially, our Chamber secured an increase of $200,200 in its Economic Injury Disaster Loan (EIDL) through the SBA for a total of $300,400. The federal loan is payable over a 30-year period at a not-for-profit interest rate of 2.75 percent. We have invested some of those monies in Certificates of Deposit with member banks and recently purchased $20,000 in U.S. Treasury Series I Savings Bonds with a 7.2 rate of return.
To those members who have remained loyalty to our Chamber during the most challenging of times, I thank you for that steadfast support.
Believe me when I say that our organization is essential to the economic life of the Elmhurst community.