Minnesota Black Chamber Of Commerce Incorporated
- Assets
- $180.5k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Saint Paul, MN
- Founding
- 06/2005
- Data as of
- 12/2021
- EIN
- 20-0722799
Organization Overview
Minnesota Black Chamber Of Commerce Incorporated is located in Saint Paul, MN. The organization was established in 2005. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minnesota Black Chamber Of Commerce Incorporated is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Minnesota Black Chamber Of Commerce Incorporated generated $114.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $112.6k during the year ending 12/2021. While expenses have increased by 3.9% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
PROVIDE BUSINESS SUPPORT NETWORK FOR BLACK BUSINESS OWNERS. PROMOTE STRATEGIES THAT CAPTURE REVENUES TO SECURE ECONOMIC BENEFITS FOR MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Abel Ebane Chair | 8 | $0 | |
Justin Butler Vice Chair | 5 | $0 | |
Gregg Klohn Treasurer | 5 | $0 | |
Shamara Henry Secretary | 5 | $0 | |
Frank Brown Member | 3 | $0 | |
Drinal Foster Member | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $89,391 |
| Total Program Service Revenue | $0 |
| Membership dues | $7,348 |
| Investment income | $768 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $3,159 |
| Other Revenue | $14,000 |
| Total Revenue | $114,666 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $106,000 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $1,539 |
| Other expenses | $5,034 |
| Total expenses | $112,573 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $170,994 |
| Other assets | $0 |
| Total assets | $180,472 |
| Total liabilities | $3,527 |
| Net assets or fund balances | $176,945 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Minnesota Black Chamber Of Commerce Incorporated has recieved totaling $10,014.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $10,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $14 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Statewide Energy Efficiency Andrenewables Administration Inc Madison, WI | $63,794,129 | $99,926,553 |
Iowa Soybean Association Ankeny, IA | $41,040,308 | $49,594,198 |
North Central States Regional Council Of Carpenters St Paul, MN | $80,577,529 | $40,138,567 |
Association Of Equipment Manufacturers Milwaukee, WI | $65,690,987 | $35,929,615 |
International Foundation Of Employee Benefit Plans Inc Brookfield, WI | $45,052,685 | $24,056,813 |
Dane Buy Local Foundation Inc Madison, WI | $199,958 | $19,130,759 |
Society Of Corporate Compliance And Ethics & Health Care Compliance Eden Prairie, MN | $30,768,192 | $19,415,043 |
Asqexcellence Inc Milwaukee, WI | $6,648,120 | $11,915,494 |
Saint Paul Rivercentre Convention And Visitors Authority St Paul, MN | $10,775,339 | $12,198,491 |
National Association Of Tax Professionals Inc Appleton, WI | $15,322,195 | $11,606,289 |
Minnesota Hospital Association St Paul, MN | $27,636,744 | $11,552,322 |
International Dairy-Deli-Bakery Association Madison, WI | $22,953,024 | $8,197,084 |