Detroit Lakes Regional Chamber Of
- Assets
- $699.1k
- Revenue
- $458.3k
- Investments
- $0.0
- Employees
- 4
- Location
- Detroit Lakes, MN
- Founding
- 09/1942
- Data as of
- 06/2022
- EIN
- 41-0192905
Organization Overview
Detroit Lakes Regional Chamber Of is located in Detroit Lakes, MN. The organization was established in 1942. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Detroit Lakes Regional Chamber Of employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Detroit Lakes Regional Chamber Of 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 06/2022, Detroit Lakes Regional Chamber Of generated $458.3k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $453.0k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (1.0%) per year over the past 8 years. 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
TO ADVANCE A VIBRANT BUSINESS & TOURISM ECONOMY THROUGH SERVICE, ADVOCACY, NETWORKING & INNOVATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBERSHIP: THE CHAMBER IS A VOLUNTARY ORGANIZATION OF OVER 500 BUSINESSES, ORGANIZATIONS AND INDIVIDUALS BANDED THOGETHER TO ADVANCE COMMON INTEREST IN THE AREA OF COMMERCE, INDUSTRY, AGRICULTURE, TOURISM, RETAILING, RECREATION. TRANPORTATION, EDUCATION, GOVERNMENT, BUSINESS DEVELOPMENT AND COMMUNITY DEVELOPTMENT. THE CHAMBER MEMBERSHIP IS MADE UP OF SMALL AND LARGE BUSINESSES AND ORGANIZATIONS WHICH INCLUDES PEOPLE FROM EVERY SEGMENT OF THE COMMUNITY, PEOPLE WHO CARE ABOUT THE DETROIT LAKES AREA, PEOPLE WHO ARE WILLING TO INVEST THEIR MONEY, TIME AND EFFORT IN CREATING A HEARLTHY ENVIRONMENT IN WHICH TO CONDUCT BUSINESS.
ALL PRIMARY EXEMPT PURPOSE
TOURISM: THE TOURISM COMMITTEE DEVELOPS AND ACTIVELY PROMOTES THE DETROIT LAKES REGION AS A YEAR-ROUND TOURISM DESTINATION. IN FY 2021 THE CHAMBER SERVED 1,989 WALK-IN'S, 3,216 PHONE CALLS AND 282,961 WEBSITE VISITS.
PROMOTION AND EVENTS: DEVELOPS AND COORDINATES COMMUNITY RETAIL PROMOTIONS THAT ENHANCE AND CREATE AN AWARENESS OF THE DETROIT LAKES AREA AS THE REGION'S SHOPPING HUB FOR GOODS AND SERVICES. THESE ANNUAL EVENTS INCLUDE THE STREET FAIR, WE-FEST SHUTTLE, BIRD FESTIVAL AND ANNUAL BANQUET DINNER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carrie Johnston President | Officer | 40 | $69,093 |
Jean Erickson Secretary | Officer | $0 | |
Travis Stone Chairman | Trustee | $0 | |
John Hansen Treasurer | Trustee | $0 | |
Brittany Nordick Chairman | Trustee | $0 | |
Jodi Ahles Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $158,002 |
| Investment income | $177 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,985 |
| 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 | $458,334 |
| Statement of Expenses | |
|---|---|
| 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. | $69,093 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $111,340 |
| Pension plan accruals and contributions | $5,488 |
| Other employee benefits | $3,533 |
| Payroll taxes | $19,173 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $171,448 |
| Office expenses | $25,495 |
| Information technology | $1,856 |
| Royalties | $0 |
| Occupancy | $18,916 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $256 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,638 |
| Insurance | $2,725 |
| All other expenses | $0 |
| Total functional expenses | $452,984 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $258,389 |
| Savings and temporary cash investments | $33,755 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,339 |
| 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 | $2,843 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $699,143 |
| Accounts payable and accrued expenses | $10,678 |
| Grants payable | $0 |
| Deferred revenue | $27,476 |
| 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 | $75,773 |
| Total liabilities | $113,927 |
| Net assets without donor restrictions | $585,216 |
| 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 |
| Total liabilities and net assets/fund balances | $585,216 |