Internal Revenue Code section 501(c)(6) specifically defines chambers of commerce and boards of trade as exempt organizations. A chamber of commerce usually is composed of the merchants and traders of a city. Board of trade. A board of trade often consists of persons engaged in similar lines of business. For example, a nonprofit organization formed to regulate the sale of a specified agricultural commodity to assure equal treatment of producers, warehouse workers, and buyers is a board of trade. Chambers of commerce and boards of trade usually promote the common economic interests of all the commercial enterprises in a given trade community. Return to Life Cycle of a Business League (Trade Association)
