Chambers Celebrate Juneteenth

Brooklyn, NY - The New American Chamber of Commerce (NACC) Annual International & Multicultural Business Expo 2014 Juneteenth Celebration and Cocktail Reception Awards, held at the Marriott Hotel downtown Brooklyn on June 19, 2014 was a smashing success. NACC in collaboration with the African American International Chamber of Commerce (AAICC), the New York Statewide Coalition of Hispanic Chamber of Commerce (NYSCHCC) and the Hispanic American International Chamber of Commerce (HAICC) welcomed three new chambers of commerce: the Guyana American International Chamber of Commerce (GAICC), the Haitian American International Chamber of Commerce (THAICC), and the Junior Chamber of Commerce (JCC) into its sisterhood. The objective of the broad coalition of Chambers of commerce is to ensure the strengthening of partnership among, and effective networking of minority owned businesses in the New York Diaspora.

Under the theme: "Greater Leaders are Hard Workers" the aim of the coalition is to ensure a decrease in unemployment, by encouraging minority New Yorkers with ties to each of the Chambers mentioned, to start their own businesses and become entrepreneurs who will determine their own destiny. One of the speakers for the Juneteenth Reception, Rev Dennis Dillon, publisher of the NY Christian Times, challenged the large audience gathered to adopt a new mind set about business in order to experience economic changes in the colored communities here in Brooklyn and across New York State. He said that the social agenda that we are accustomed to must be made less important: "I am not suggesting that the social agenda among us as black people, as black America and as a people here in Brooklyn is not important, but, we have got to allow the business agenda to set the tone for the empowerment of our communities and the transformation of our people. We have seen our politicians and the leaders of our communities allow the social agenda to overpower the commerce and the business agenda and so we become emotional about the need for health care. We become emotional about the need for education and the need to have a good justice system in our community failing to recognize that if we do not put in place a full economic infrastructure, we will never be able to establish a full social agenda. So, as Brooklynites, we as a people, got to begin this journey to transform the minds of our people where we allow everything to be built on an economic foundation."

According to Reverend Dillon, there needs to be an awakening of economic realities among the colored communities. He noted that a trip to South Korea in 1999 embolden his desire for economic prosperity as he noticed that there were lit crosses on every businesses in the City of Seoul, an indication that this nation that was once poor economically, placed God in charge of it businesses, thus the need for spiritual dependence and guidance. He stressed that while sociology has its place in society, it must be complimented with economics and politics in order to be effective: "where there is no spiritual foundation, there is no economic power, and where there is no economic power there can be no legitimate political control, and without political control there will always be a sick sociology.

We cannot solve the sociological illnesses that we face in our communities without strong political leadership and we will never have respected political leadership amongst our people, not in the Caribbean, not in Africa, not in New York, not in America, not anywhere in the world until we have economics to protect because in the absence of economics there can be no true politics. That's our dilemma as a people in Africa, the Caribbean, in Detroit, in Harlem, in South Africa and that's our dilemma in Brooklyn. So it is only as we begin to change our mindset and begin to think differently can we truly bring about the change that we need. On this Juneteenth on this important day for blacks in America, I want to challenge us to do some things differently. I want to encourage us to adopt the Koreans formula of doing business here in New York. Go to any Korean store —you will notice that they do not sell any products that are labeled made in China. They only sell products that say made in Korea; it is a very important dynamic. I noticed that Jamaica reported that in 2013, remittances were the largest foreign income earner for the country. Jamaicans living here in New York and elsewhere overseas sent back home some $3 billion to that country…. So we represent power, there is no question about it. The seventh largest airline international carrier to the three ports in New York City happens to be Caribbean Airlines/Air Jamaica we transport more international travelers more than any other international carriers, except three; that is British Airways, Air France and Air Lufthansa. That is a lot of dormant power that needs to be resurrected. So when we talk about this Chamber movement folks I need us to begin to harness our energies together…. The moment we begin to do things apart is when we fail, but when we do things together, is when we create the right kind of transformation and success to our community and bring about the kind of economic redemption that our communities need.”

Support NYC Small Businesses This Saturday, November 30

After Hurricane Sandy, the NYC Department of Small Business Services launched a campaign - "We're Back" - to help raise awareness and drive traffic back to businesses that reopened in the affected areas.

With more than 1,300 businesses registered on www.supportnycsmallbusiness.com that have since reopened since Hurricane Sandy, we are expanding this interactive tool to be available for all small businesses in NYC.

Make it easy for New Yorkers and visitors to find you this Small Business Saturday - add your business to the map today!

ConnectNYC Fiber Access Program

The New York City Economic Development Corporation [NYCEDC] is looking for growing businesses that depend on secure and reliable high-speed internet for downloading and uploading content as part of their daily business operations. These businesses might be eligible for FREE construction of fiber optic cable to their business through the ConnectNYC Fiber Access program.

ConnectNYC provides free construction and installation of a dedicated fiber optic cable directly to your office space. Participating companies must sign a minimum of a one-year contract for internet service at market rates with one of NYCEDC's  participating Internet Service Providers to receive free construction. 

Eligible businesses must have an office location in NYC, have fewer than 500 employees, and explain in their application the potential impact of dedicated fiber optic cable on their business activities. Applications will be accepted on a first come, first serve basis until December 12, 2013 or until the available allocated construction funds are exhausted.

For more information visit http://nycfiberaccess.challengepost.com/. Please feel free to share this information with your colleagues and with your clients.

Can the IRS Audit a Church? Special Rules Limiting IRS Authority to Audit a Church

Tax Inquiries and Examinations of Churches

Congress has imposed special limitations on how and when the IRS may conduct civil tax inquiries and examinations of churches. The IRS may only initiate a church tax inquiry if a high-ranking IRS official has a “reasonable belief,” based on a written statement of the facts and circumstances, that the organization: (a) may not qualify for the exemption; or (b) may not be paying tax on unrelated business or other taxable activity.

Church Audits – “Reasonable Belief” Requirement

This reasonable belief must be based on facts and circumstances recorded in writing. The IRS can obtain the information supporting a reasonable belief from many sources, including but not limited to:

* Newspaper or magazine articles or ads,
* Television and radio reports,
* Internet web pages,
* Voters guides created and/or distributed by the church,
* Documents on file with the IRS (e.g. a Form 990-T filed by the church), and
* Records concerning the church in the possession of third parties or informants.

The IRS must derive the facts and circumstances forming the basis for a reasonable belief from information lawfully obtained. If this information is obtained from informants, it must not be known to be unreliable. Failure of the church to respond to repeated IRS routine requests for information is a factor in determining if there is reasonable cause for commencing a church tax inquiry.

Restrictions on Church Inquiries and Examinations 

Restrictions on church inquiries and examinations apply only to churches (including organizations claiming to be churches if such status has not been recognized by the IRS) and conventions or associations of churches. They do not apply to related persons or organizations. Thus, for example, the rules do not apply to schools that, although operated by a church, are organized as separate legal entities. Similarly, the rules do not apply to integrated auxiliaries of a church.

Restrictions on church inquiries and examinations do not apply to all church inquiries by the IRS. Please see below for situations in which church audit procedures do not apply for more information.

The procedures of Internal Revenue Code section 7611 will be used in initiating and conducting any inquiry or examination into whether an excess benefit transaction (as that term is used in Code section 4958) has incurred between a church and an insider. (Please the blog on our next e-mail newsletter re Excess Benefit Transactions.)

Situations in Which Church Audit Procedures Do Not Apply 

The church examination procedures do not apply to the following:

* Routine requests for information or inquiries on matters that do not primarily concern the organization’s tax status or liability,

* Criminal investigations,
* Termination assessments under Internal Revenue Code section 6851 or jeopardy assessments under section 6861,
* Any case involving the church’s knowing failure to file a return or willful attempt to defeat or evade tax (including failure to withhold or pay social security or other employment or income tax required to be withheld from wages), or
* Any inquiry or examination relating to the tax status or liability of persons or organizations other than the church (including contributors).

Additional information 

Routine requests for information excepted from church audit procedures
The term church tax inquiry does not include routine requests for information or inquiries on matters that do not primarily concern the organization’s tax status or liability. For example, routine requests do not include requests for information about:

Filing, or failing to file, any tax return or information return,
Compliance with income or FICA (social security) tax withholding responsibilities,
Supplemental information needed to process an incomplete or incorrect return,
Information needed to process an application for exempt status or ruling request,
Information needed to process and update registration for tax-free transactions (excise tax) elections for exemption from windfall profits tax, or employment tax exemption requests,
Information identifying a church to update Exempt Organizations Select Check (Pub 78 database), or
Confirmation that a specific business is, or is not, owned and operated by a church.

NACC 2012 International & Multicultural Business Expo An Eye Opener for Small Business Owners

 

By Marilyn Silverman

 

The 2012 International & Multicultural Business Expo, hosted  by NACC, at the Marriott Hotel, downtown Brooklyn on June 14, was dubbed a smashing success by both exhibitors and attendees.  The day commenced with a business breakfast, setting the platform for networking opportunities.

   While the Expo has been over for some time now, its impact on those who experienced it, is so invaluable, that many businesses will reap dividends not bargained for. At the breakfast, business owners were treated not only to a sumptuous  meal, but  also benefited from organized and calculated business education on how to seize opportunities to expand their ventures, even how to take advantage of both federal and city resources that will enable growth  and provide economic stability for many; these efforts will help to stimulate jobs for the minority communities. The truth be told, that’s the sole purpose for organizing the Expo. Brian Figeroux, Esq., Founder/Chairman/CEO and the mastermind of the event, seized this opportunity to promulgate the objective for organizing such an event: “The New American Chamber of Commerce (NACC), The African American International Chamber of Commerce and the NY Statewide Coalition of Hispanic Chambers of Commerce, have decided to come together to work for the benefit of our people. The workers in New York City have a union to represent them, but, where is the union for small business people? Business people need a union also, and their union is us, the chambers of commerce. The small businesses need us to represent them. The largest employers in America are small businesses. If you want to impact unemployment in our communities, if you want to impact crime in our communities… start a small business.”

   If that was not sufficient food for thought,  Region 2 Director for the SBA, Jorge Silva-Puras, spread the table with a second course, detailing essential resources that are available to small businesses within New York, New Jersey and Puerto Rico. He noted that the federal government, through his organization, has committed to working with individuals who are determined to create small businesses. He added that as a result of funding approved for his administration, there are more than 2.7 million small businesses operating in his region alone. Loans ranging from $50,000 to $5.5 million  are made available through the SBA capital access program and its commercial lending program. He stressed that small businesses need capital to grow and that’s where the SBA comes in to make that growth a reality. Silva-Puras said: “We are not a direct lending institution. What we actually do is, we guarantee to the banks your loan at a very high percentage. It can be as high as 85% of the loan. So if you want to get a loan of $100,000, and you go to the commercial bank but for whatever reason, you do not qualify  under their terms…that’s a situation where SBA comes in and guarantees your loan up to 85%. That means that the bank is only risking 15%...obviously, it makes a big difference with the bank, particularly in this environment.”

   Not to be outdoned by what Silva-Puras  said, the City of New York representative, Gregory Mayers also took to the podium to show the city’s support for the establishment and sustainability of small businesses. He encouraged business owners to get certified with the city so they can benefit  from the contracts and other programs the city has to offer small businesses. He noted that in 2011, some $563 million  were awarded in contracts to MWBE certified businesses. He added that $40 billion  have been allocated for the next five years with $15 billion going towards infrastructure alone, and small businesses should take advantage of this: “You have to get involved; you have to be a part of the process; you got to be engaged. And advocacy groups really let us know where the short falls are and some of the challenges that small businesses face and chambers such as the New American Chamber of Commerce play that significant role. I urge and encourage you to do that.” Referring to the contracts awarded last year he added: “The amount may be small to some but for those who received it, it was able to feed their families and put them back in business—that’s substantial. Can we do more, yes; are we willing to do more, yes; are we willing to partner with organizations like the NACC to do more? Absolutely.” 

   Following the breakfast, participants took advantage of exhibiting their businesses and products; they also attended  the  seminars that were organized by NACC to help educate and inform business owners  on how to expose, expand and maintain their businesses in a growing competitive market.  In the wink of an eye, the exhibition site became a competitive environment as hundreds poured in to participate in the various seminars and view the exhibits. A gamut of businesses were represented. 

  Many gave kudos to NACC for taking the initiative to organize the event, thus providing businesses with an opportunity to provide information to the public and other businesses about their products and business ventures. Many shared excitement and satisfaction for being a part of the day’s event. Here are some of the testimonials:

   A representative of the New York City Small Business Development Center said: “My experience here today has been very good. There are a lot of vendors here who have a lot of information to share with the community. Interacting with businesses like the Brooklyn Chamber of Commerce, the New American Chamber of Commerce, the McGraw Hill representatives and other business provide me the platform needed for what I do. I love it and I am enjoying the event.”

     And an exciting participant appeared out of his skin to share his thoughts: “It is my first time visiting something like this and I am really enjoying what I am seeing. It’s amazing how the chamber of commerce put together a program where everybody can benefit. If I am to grade the event today I will definitely give close to a ten if not a ten, on a scale of one to ten.”

  

 

 For more testimonials, photos and videos visit www.mynacc.org.

  The Chamber  is aiming at making this  an annual event. Next year’s event is slated for Thursday,June 20, 2013 and with a new component, franchising. For information on the NACC Multicultural Business & Franchising Expo including early bird discounts, visit www.mynacc.org or call 718-722-9217 to schedule an appointment.

President's Message

Dear NACC Members and Friends:


Since our founding in 2005, the New American Chamber of Commerce (NACC) has dedicated itself to providing assistance to all small businesses within New York City. We strongly believe that all businesses should be given the opportunity to reach their full potential. Not only does the Chamber provide avenues for small business to gather further assistance, the Chamber also offers workshops and events for businesses to expand their visibility within the community. Given the current workforce and the socio-economic demands, it is critical to support these entrepreneurs in the undeserved areas of New York City.

As the new President of the New American Chamber of Commerce, my main priority has been to enhance programming, expand and deepen community relations and diversify the Chamber’s funding sources for small businesses. Clearly expressing the organization’s strategic goals and direction will help to deepen trust and support for the Chamber, and build on our rich legacy of almost 8 years of service to the New York City community.

In November 2012, NACC’s board of directors released the executive summary of our 2013 Multicultural Business and Minority Franchise Expo, to be held at the New York Marriott at 333 Adams Street, Brooklyn, NY on Thursday, June 20, 2013. We are excited to share our strategic vision, aiming to gain your participation and involvement. To register for the conference as a business or participant, click here. As such, we are committed to earning your business, trust, satisfaction and partnership. By working together we can have another successful conference, thus moving the organization, membership and sponsors forward toward prosperity and a renewed purpose.


Thank you for your continued support.

Sincerely,


Pearl Phillip

President



Check us out : www.mynacc.org or www.falaw.us

Introduction to LinkedIn

Looking for a new job or trying to stay on top of your game? Yes. Then, one of the easiest ways to accomplish this is this to maintain a professional profile online and the best way to accomplish this is with LinkedIn.

What is LinkedIn?

LinkedIn is the world’s largest professional network with over 175 million members and growing rapidly. LinkedIn connects you to your trusted contacts and helps you exchange knowledge, ideas, and opportunities with a broader network of professionals. LinkedIn gives you the keys to controlling your online identity. Have you Googled yourself lately? You never know what may come up. LinkedIn profiles rise to the top of search results, letting you control the first impression people get when searching for you online.

Getting started with LinkedIn

So how does one get started? Simple, start with the basics. Fill out your professional information, import a new headshot and reach out to all relevant current and former colleagues, clients and classmates.

Insider Tips to Making LinkedIn Work for You

According to Krista Canfield, Senior Manager, Corporate Communications at LinkedIn and Nicole Williams, Connection Director for the company, the following are their best suggestions for maximum efficiency when using the site:

•    Stop by regularly: Don’t just stop by when you are glossing over your profile. The site is interactive. Make use of it. “Your LinkedIn homepage is a customizable, one-stop shop for finding all the business insights you need to conquer your workday. You can read the top industry headlines from Linkedn Today, search for new clients and find out who in your network got promoted while drinking your coffee,” says Canfield. If you see that someone has updated their profile, you can “like” it – a professional version of the same Facebook tool.
(CBSMoney Watch)

•    Follow company pages: “More than two million companies Apple and Google, have LinkedIn company pages. Follow LinkedIn Company Pages for automatic updates on your homepage when people leave or join the companies you’re interested in, when those companies post jobs, or when they share news on LinkedIn,” suggests Williams. This feature is key to staying in the know with minimal effort – in other words, making LinkedIn work for you, even when you are not actually looking for information.
(CBSMoney Watch)

•    Use LinkedIn Answers: This function allows you to access the large LinkedIn network as well as find information you want, customized for you. “Responses link back to profiles, so many LinkedIn members use Answers as an opportunity to promote their expertise with high quality, well-thought-out responses,” says Williams. So, not only do you get answers, but you can network, naturally and efficiently.

(CBSMoney Watch)

Check us out at www.falaw.us or www.mynacc.org