The Chamber
- Assets
- $1.1m
- Revenue
- $736.8k
- Investments
- $0.0
- Employees
- 6
- Location
- Grand Forks, ND
- Founding
- 00/0000
- Data as of
- 12/2021
- EIN
- 20-2924979
Organization Overview
The Chamber is located in Grand Forks, ND. The organization was established in 0000. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Chamber employed 6 individuals. Chamber is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Chamber generated $736.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $649.6k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
CREATE AN ENVIRONMENT THAT ENCOURAGES BUSINESS SUCCESS WHILE ENCHANCING THE QUALITY OF LIFE IN OUR REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE BUSINESS IN THE CITIES OF GRAND FORKS AND EAST GRAND FORKS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barry Wilfahrt President/ceo | Officer | 40 | $127,763 |
Paula Anderson Past Chair | OfficerTrustee | 2 | $0 |
Dave Zavoral Chair | OfficerTrustee | 2 | $0 |
Josh Grinde Vice Chair | OfficerTrustee | 1 | $0 |
Tom Kenville Chair Elect | OfficerTrustee | 2 | $0 |
Brian Leach Vice Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $500 |
| Related organizations | $0 |
| Government grants | $60,702 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $61,202 |
| Total Program Service Revenue | $577,417 |
| Investment income | $3,749 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $22,336 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $14,815 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $736,774 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $146,678 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $167,948 |
| Pension plan accruals and contributions | $17,526 |
| Other employee benefits | $23,636 |
| Payroll taxes | $23,496 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $18,665 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,523 |
| Advertising and promotion | $10,958 |
| Office expenses | $14,676 |
| Information technology | $13,931 |
| Royalties | $0 |
| Occupancy | $19,868 |
| Travel | $12,752 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,559 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,788 |
| Insurance | $6,340 |
| All other expenses | $17,555 |
| Total functional expenses | $649,593 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $490,356 |
| Savings and temporary cash investments | $169,361 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $108,326 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $944 |
| Net Land, buildings, and equipment | $304,762 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,073,749 |
| Accounts payable and accrued expenses | $4,371 |
| Grants payable | $0 |
| Deferred revenue | $290,583 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $10,000 |
| Other liabilities | $18,957 |
| Total liabilities | $323,911 |
| Net assets without donor restrictions | $749,838 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,073,749 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Chamber has recieved totaling $10,699.
| Awarding Organization | Amount |
|---|---|
Altru Health System Grand Forks, ND PURPOSE: 2020 SUPPORT | $10,699 |
Endowment Analysis
| Beg. Balance | $10,443 |
| Other Expense | $7,943 |
| Ending Balance | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Initiative Foundation Little Falls, MN | $95,633,483 | $21,753,358 |
Southwest Initiative Foundation Hutchinson, MN | $108,678,960 | $12,722,630 |
Native American Development Corporation Billings, MT | $7,334,421 | $5,770,439 |
Midwest Minnesota Community Development Corporation Detroit Lakes, MN | $81,373,559 | $8,284,111 |
The International Joint Commission On Allied Health Personnel In Opht St Paul, MN | $4,513,334 | $4,493,708 |
Leading Edge Alliance Inc Eden Prairie, MN | $746,108 | $1,886,367 |
Itasca Economic Development Corporation Grand Rapids, MN | $3,743,708 | $1,851,180 |
Ypo Global One Chapter Inc Minneapolis, MN | $1,165,032 | $1,027,097 |
Dbl Equity Partners Fargo, ND | $983,044 | $953,194 |
The Chamber Grand Forks, ND | $1,073,749 | $736,774 |
Ypo Inc Minneapolis, MN | $820,724 | $680,435 |
National Association For Proficiency Testing Eagan, MN | $611,996 | $719,063 |