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.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Barry Wilfahrt President/ceo | Officer | 40 | $127,763 |
Dave Zavoral Chair | OfficerTrustee | 2 | $0 |
Tom Kenville Chair Elect | OfficerTrustee | 2 | $0 |
Brian Leach Vice Chair | OfficerTrustee | 1 | $0 |
Paula Anderson Past Chair | OfficerTrustee | 2 | $0 |
Josh Grinde Vice Chair | OfficerTrustee | 1 | $0 |
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 |
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 |
Beg. Balance | $10,443 |
Other Expense | $7,943 |
Ending Balance | $2,500 |
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 |