Owatonna Area Chamber Foundation
- Assets
- $195.1k
- Revenue
- $449.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Owatonna, MN
- Founding
- 10/1984
- Data as of
- 12/2021
- EIN
- 36-3319497
Organization Overview
Owatonna Area Chamber Foundation is located in Owatonna, MN. The organization was established in 1984. According to its NTEE Classification (S12) the organization is classified as: Fund Raising & Fund Distribution, 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. Owatonna Area Chamber Foundation 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, Owatonna Area Chamber Foundation generated $449.5k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 34.4% each year . All expenses for the organization totaled $704.7k during the year ending 12/2021. While expenses have increased by 41.3% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SOLICIT, COLLECT, RECEIVE, ACCUMULATE, ADMINISTER AND DISBURSE FUNDS IN SUCH A MANNER AS WILL IN THE SOLE DISCRETION OF THE BOARD OF DIRECTORS, MOST EFFECTIVELY OPERATE TO FURTHER CHARTITABLE, SCIENTIFIC, LITERARY OR EDUCATIONAL PURPOSES, TO MAKE CONTRIBUTIONS TO ANY ORGANIZATION DESCRIBED IN 501(C)(3)OF THE INTERNAL REVENUE CODE,WITH THE EXCEPTION OF ORGANIZATIONS TESTING FOR PUBLIC SAFETY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BEAUTIFY DOWNTOWN OWATONNA.
COMMUNITY LEADERS
PATRIOT SKIES
VARIOUS OTHER PROGRAMS THAT SUPPORT THE ORGANIZATION'S MISSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Kubicek Chair | Officer | 1 | $0 |
Brad Meier Secretary | Officer | 1 | $0 |
Andrew Cowell Treasurer | Officer | 1 | $0 |
Kelly Boomgarden Member | Trustee | 1 | $0 |
Syd Briggs Member | Trustee | 1 | $0 |
Rhonda Guthier Member | 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 | $449,464 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $449,464 |
| Total Program Service Revenue | $0 |
| Investment income | $39 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $449,503 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,670 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $696 |
| Office expenses | $161 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $440 |
| Travel | $500 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $6,486 |
| Total functional expenses | $704,686 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $191,843 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,250 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $195,093 |
| Accounts payable and accrued expenses | $1,682 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,682 |
| Net assets without donor restrictions | $110,155 |
| Net assets with donor restrictions | $83,256 |
| 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 | $195,093 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Owatonna Area Chamber Foundation has recieved totaling $500.
| Awarding Organization | Amount |
|---|---|
Amg Charitable Gift Foundation Greenwood Village, CO PURPOSE: PUBLIC ASSISTANCE | $300 |
Michael And Nancy Keller Familyfoundation Owatonna, MN PURPOSE: TO PROVIDE ASSISTANCE TO FURTHER PROGRAM MISSION | $200 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cedar Street Charitable Foundation Inc Milwaukee, WI | $72,743,564 | $36,616,391 |
Missouri River Historical Develop- Ment Inc Sioux City, IA | $5,283,123 | $4,260,184 |
Michael E Portzen And Sara A Portzen Family Foundation Peosta, IA | $2,370,924 | $1,197,691 |
Owatonna Area Chamber Foundation Owatonna, MN | $195,093 | $449,503 |
Community Betterment Organization Pella, IA | $2,432,406 | $1,698,245 |
Mille Lacs Trails Inc Aitkin, MN | $865,196 | $621,358 |
Ndn Fund Rapid City, SD | $6,707,836 | $217,223 |
Central Iowa Housing Trust Fund Des Moines, IA | $344,976 | $398,757 |
Cooperstown Municipal Association Cooperstown, ND | $1,277,517 | $652,098 |
Itasca-Mantrap Co-Op Electricalassn Trust Park Rapids, MN | $37,042 | $0 |
Levy Giving Fund Inc Wauankee, WI | $217,321 | $0 |
Rhinelander Community Foundation Inc Rhinelander, WI | $985,574 | $418,702 |