The Chamber
- Assets
- $1.1m
- Revenue
- $641.4k
- Investments
- $0.0
- Employees
- 6
- Location
- Grand Forks, ND
- Founding
- 00/0000
- Data as of
- 12/2022
- 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 12/2022, 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 12/2022, Chamber generated $641.4k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of 0.0% each year. All expenses for the organization totaled $673.8k during the year ending 12/2022. 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
2022
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 |
|---|---|---|---|
Dave Zavoral Past Chair | OfficerTrustee | 2 | $0 |
Tom Kenville Chair | OfficerTrustee | 2 | $0 |
Meghan Compton Director | Trustee | 1 | $0 |
Russel Crary Chair Elect | OfficerTrustee | 1 | $0 |
John Schumacher Director | Trustee | 1 | $0 |
Brandon Bochenski Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,500 |
| Total Program Service Revenue | $536,746 |
| Investment income | $4,317 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $14,963 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $18,761 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $641,353 |
| 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. | $173,933 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $165,277 |
| Pension plan accruals and contributions | $6,354 |
| Other employee benefits | $15,379 |
| Payroll taxes | $22,783 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,156 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,267 |
| Office expenses | $14,234 |
| Information technology | $14,590 |
| Royalties | $0 |
| Occupancy | $31,423 |
| Travel | $13,127 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,470 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,791 |
| Insurance | $6,561 |
| All other expenses | $35,602 |
| Total functional expenses | $673,821 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $178,705 |
| Savings and temporary cash investments | $472,038 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $116,229 |
| 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 | $2,804 |
| Net Land, buildings, and equipment | $309,753 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,079,529 |
| Accounts payable and accrued expenses | $11,044 |
| Grants payable | $0 |
| Deferred revenue | $301,027 |
| 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 | $28,752 |
| Other liabilities | $21,335 |
| Total liabilities | $362,158 |
| Net assets without donor restrictions | $717,371 |
| 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 | $1,079,529 |