Minneapolis Regional Chamber Development Foundation
- Assets
- $1.5m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 10/1986
- Data as of
- 12/2021
- EIN
- 36-3468708
Organization Overview
Minneapolis Regional Chamber Development Foundation is located in Minneapolis, MN. The organization was established in 1986. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, 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. Minneapolis Regional Chamber Development 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, Minneapolis Regional Chamber Development Foundation generated $1.7m in total revenue. All expenses for the organization totaled $1.8m during the year ending 12/2021. While expenses have increased by 108.6% per year over the past 6 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 SUPPORT THE WORK AND MISSION OF THE MINNEAPOLIS REGIONAL CHAMBER TO CREATE A VIBRANT AND EQUITABLE ECONOMY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ECONOMIC DEVELOPMENT: THROUGH THE MINNEAPOLIS REGIONAL CHAMBER DEVELOPMENT FOUNDATION, THE CHAMBER ENGAGES IN AN ONGOING INITIATIVE TO ADDRESS A REGIONAL TRANSIT SYSTEM.
LEADERSHIP TWIN CITIES: EACH YEAR, LEADERSHIP TWIN CITIES TAKES A COHORT OF 50+ HIGH POTENTIAL INDIVIDUALS THROUGH A NINE-MONTH PROGRAM OF CIVIC EDUCATION AND LEADERSHIP SKILLS DEVELOPMENT. THE PROGRAM'S MISSION IS TO IDENTIFY, CULTIVATE AND INSPIRE SUCCESSIVE GENERATIONS OF COMMUNITY LEADERS, BY EXAMINING CRITICAL ISSUES AND RESOURCES, TO ENSURE THE SOCIAL, CULTURAL AND ECONOMIC PROSPERITY OF THE MINNEAPOLIS-SAINT PAUL REGION. FOR MORE THAN 40 YEARS, LEADERSHIP TWIN CITIES HAS INFORMED MORE THAN 2,000 CIVIC LEADERS ABOUT THE CRITICAL ISSUES FACING THE REGION. PARTICIPANTS SPEND ONE DAY EACH MONTH FROM SEPTEMBER-MAY EXPLORING TOPICS SUCH AS ECONOMIC DEVELOPMENT, EDUCATION, ARTS AND CULTURE, COMMUNITY SAFETY, HEALTH CARE AND GOVERNMENT.
KEYSTONE: MINNESOTA KEYSTONE PROGRAM PROMOTES CORPORATE PHILANTHROPY BY RECOGNIZING AND HONORING COMPANIES THAT DONATE AT LEAST 2% OF THEIR PRE-TAX EARNINGS TO CHARITABLE ORGANIZATIONS. QUALIFYING COMPANIES HAVE AN OPERATING PRESENCE IN MINNESOTA AND DONATE CASH, IN-KIND DONATIONS, INCLUDING PRO-BONO SERVICES, AND/OR EMPLOYEE PAID VOLUNTEER TIME. MINNESOTA KEYSTONE COMPANIES RECEIVE RECOGNITION ON THE MINNESOTA KEYSTONE WEBSITE AND AT AN ANNUAL EVENT. MINNESOTA KEYSTONE HAS BEEN OPERATING CONSISTENTLY SINCE 1976 AND IS A GREAT REFLECTION OF MINNESOTA'S SPIRIT OF GENEROSITY AND SENSE OF COMMUNITY.
ELEVATE FUTURES: ELEVATE FUTURES IS AN INTERACTIVE CAREER DEVELOPMENT PLATFORM THAT LINKS RECRUITMENT, SKILLBUILDING AND CAREER NAVIGATION INTO ONE COMPREHENSIVE SYSTEM. ELEVATE FUTURES PROVIDES A UNIQUE SOLUTIONTO CLOSE THE WORKFORCE GAPS. IT INFORMS, EDUCATES AND DEVELOP STUDENTS AND JOB SEEKERS, WHILE DIRECTLYCONNECTING THEM TO LOCAL EMPLOYERS, CAREER COUNSELORS, CAREER PATHWAYS AND JOBS.ELEVATE BUSINESS HC - BUSINESSES IN MINNEAPOLIS AND BROADER HENNEPIN COUNTY ARE ELIGIBLE TO RECEIVE FREE BUSINESS ADVISING AND CONSULTING SERVICES THROUGH ELEVATE BUSINESS HC, A NEW INITIATIVE OFFERING NO-COST BUSINESS ADVISING AND OTHER RESOURCES TO HELP BUSINESSES RECOVER FROM THE PANDEMIC AND BUILD FOR FUTURE GROWTH.REALTIME TALENT PARTNERS WITH K-12 EDUCATION, POST-SECONDARY EDUCATION, INDUSTRY ASSOCIATIONS, COMMUNITY-BASED TRAINING ORGANIZATIONS, AND THE PUBLIC SECTOR TO ENSURE STUDENTS AND JOB-SEEKERS HAVE THE SKILLS AND EXPERIENCE NEEDED TO GROW IN HIGH-DEMAND OPPORTUNITIES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cassie Nelson Chair | OfficerTrustee | 0.5 | $0 |
Jonathan Weinhagen President/ceo | OfficerTrustee | 10 | $0 |
Ravi Norman Past Chair | OfficerTrustee | 0.5 | $0 |
David Prince Treasurer | OfficerTrustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $504,933 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,093,621 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,598,554 |
| Total Program Service Revenue | $132,826 |
| Investment income | $0 |
| 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 | $1,731,380 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $19,415 |
| 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 | $851,130 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $267,975 |
| Advertising and promotion | $0 |
| Office expenses | $179 |
| Information technology | $6,779 |
| Royalties | $0 |
| Occupancy | $11 |
| Travel | $6,710 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,159 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $20,443 |
| Insurance | $3,394 |
| All other expenses | $28,057 |
| Total functional expenses | $1,754,053 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $941,020 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $243,779 |
| 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 | $89,127 |
| Net Land, buildings, and equipment | $202,570 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,800 |
| Total assets | $1,478,296 |
| Accounts payable and accrued expenses | $170,571 |
| Grants payable | $0 |
| Deferred revenue | $159,688 |
| 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 | $207,898 |
| Total liabilities | $538,157 |
| Net assets without donor restrictions | $324,082 |
| Net assets with donor restrictions | $616,057 |
| 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 | $1,478,296 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Minneapolis Regional Chamber Development Foundation has recieved totaling $73,200.
| Awarding Organization | Amount |
|---|---|
Holmes-Csm Family Foundation Minneapolis, MN PURPOSE: GENERAL | $50,000 |
Lawrence Family Foundation Minneapolis, MN PURPOSE: OPERATING | $10,000 |
Saint Paul & Minnesota Foundation Saint Paul, MN PURPOSE: MULTIPLE GRANTS FOR MULTIPLE PURPOSES | $8,000 |
Piper Jaffray Foundation Minneapolis, MN PURPOSE: 501(C)(3) PAYMENTS | $5,000 |
Will Bracken Family Foundation Minneapolis, MN PURPOSE: TO PROVIDE FOR OPERATIONS | $200 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Action Of Eastern Iowa Davenport, IA | $4,145,446 | $19,807,458 |
Mahube-Otwa Community Action Partnership Inc Detroit Lakes, MN | $6,691,451 | $20,228,935 |
Upper Des Moines Opportunity Inc Graettinger, IA | $5,376,639 | $17,208,548 |
Community Action Agency Of Siouxland Sioux City, IA | $5,735,581 | $15,017,682 |
Mid-Iowa Community Action -Mica- Incorporated Marshalltown, IA | $3,849,705 | $14,587,976 |
Three Rivers Community Action Inc Zumbrota, MN | $34,597,275 | $14,786,149 |
West Central Wisconsin Community Action Agency Inc Glenwood City, WI | $21,268,900 | $13,007,959 |
Community Action Coaltion For South Central Wisconsin Inc Madison, WI | $4,809,920 | $12,236,312 |
West Central Minnesota Communities Action Inc Elbow Lake, MN | $6,410,822 | $11,174,117 |
Beacon Interfaith Housing Collaborative Saint Paul, MN | $38,850,974 | $10,667,246 |
Childserve Community Options Inc Johnston, IA | $2,057,993 | $11,623,811 |
Lakes And Pines Community Action Council Inc Mora, MN | $3,434,723 | $9,795,071 |