Greater Minneapolis Chamber Of Commerce
- Assets
- $1.7m
- Revenue
- $4.6m
- Investments
- $0.0
- Employees
- 33
- Location
- Minneapolis, MN
- Founding
- 10/1955
- Data as of
- 12/2021
- EIN
- 41-0414520
Organization Overview
Greater Minneapolis Chamber Of Commerce is located in Minneapolis, MN. The organization was established in 1955. 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 12/2021, Greater Minneapolis Chamber Of Commerce employed 33 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Minneapolis Chamber Of Commerce 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, Greater Minneapolis Chamber Of Commerce generated $4.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.3% each year . All expenses for the organization totaled $4.5m during the year ending 12/2021. While expenses have increased by 10.1% 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
CREATING POWERFUL ADVOCACY TO ENHANCE ECONOMIC VITALITY IN THE MINNEAPOLIS-ST. PAUL REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY LEADERSHIP: MRC ORGANIZED AND LED A VIRTUAL PROGRAM OF 80 COMMUNITY, GOVERNMENT AND BUSINESS LEADERS TO FOCUS ON THE IMPACTS OF THE COVID-19 PANDEMIC ON THE MINNEAPOLIS-ST. PAUL REGION. THE KEYSTONE PROGRAM RECOGNIZES AND HONORS COMPANIES THAT DONATE AT LEAST 2% OF THEIR PRE-TAX EARNINGS TO THE COMMUNITY. OVER 30 YEARS AGO, 23 MINNESOTA COMPANIES CREATED THIS PROGRAM (ORIGINALLY KNOWN AS "THE 5% CLUB") TO RECOGNIZE AND ENCOURAGE CHARITABLE GIVING AND TO SET AN EXAMPLE FOR THEIR BUSINESS COLLEAGUES. KEYSTONE CELEBRATED ITS 44TH YEAR AND ENROLLED OVER 180 MEMBERS IN 2021. MORE THAN 200 INDIVIDUALS ATTENDED THE EVENT IN DECEMBER. NORTHEAST PARADE STARTED IN 1929 AS A STREET CAR PARADE BUT IT WAS NOT HELD IN 2021 DUE TO COVID 19 RESTRICTIONS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jonathan Weinhagen President/ceo | Officer | 40 | $230,298 |
Ravi Norman Past Chair | OfficerTrustee | 0.5 | $0 |
David Prince Treasurer | OfficerTrustee | 0.5 | $0 |
Cassie Nelson Chair | OfficerTrustee | 2 | $0 |
Khadija Ali Board Member | Trustee | 0.5 | $0 |
Susan Adams Loyd Board Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $91 |
| Related organizations | $60,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $747,270 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $807,361 |
| Total Program Service Revenue | $2,588,296 |
| Investment income | $43 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$4,278 |
| Net Income from Fundraising Events | $13,241 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,628,639 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $12,112 |
| 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. | $256,256 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,765,370 |
| Pension plan accruals and contributions | $62,122 |
| Other employee benefits | $63,991 |
| Payroll taxes | $161,745 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,866 |
| Fees for services: Accounting | $20,789 |
| Fees for services: Lobbying | $1,391,238 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $133,614 |
| Advertising and promotion | $2,797 |
| Office expenses | $47,757 |
| Information technology | $93,292 |
| Royalties | $0 |
| Occupancy | $239,429 |
| Travel | $28,242 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $65,965 |
| Interest | $2,037 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $61,536 |
| Insurance | $15,478 |
| All other expenses | $0 |
| Total functional expenses | $4,511,677 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $318,486 |
| Savings and temporary cash investments | $385,769 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $451,741 |
| 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 | $63,309 |
| Net Land, buildings, and equipment | $400,860 |
| Investments—publicly traded securities | $33,199 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,932 |
| Total assets | $1,657,296 |
| Accounts payable and accrued expenses | $144,569 |
| Grants payable | $0 |
| Deferred revenue | $455,101 |
| 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 | $404,760 |
| Total liabilities | $1,004,430 |
| Net assets without donor restrictions | $652,866 |
| 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 | $1,657,296 |
Grants Awarded
Over the last fiscal year, Greater Minneapolis Chamber Of Commerce has awarded $27,188 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
GUS LLC PURPOSE: FACADE GRANT | $7,188 |
HATSOOK PROPERTIES LLC PURPOSE: FACADE GRANT | $5,000 |
G & W HOLDING PURPOSE: FACADE GRANT | $5,000 |
EASTSIDE FOOD CO-OP PURPOSE: FACADE GRANT | $5,000 |
CENTRAL AVENUE AUTO PURPOSE: FACADE GRANT | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Greater Minneapolis Chamber Of Commerce has recieved totaling $11,032.
| Awarding Organization | Amount |
|---|---|
Thrivent Financial For Lutherans Minneapolis, MN PURPOSE: General Support | $11,032 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Benedictine Living Community Owatonna Minneapolis, MN | $16,154,920 | $11,439,984 |
Greater Milwaukee Convention & Visitors Bureau Inc Milwaukee, WI | $13,303,680 | $5,924,757 |
Rochester Mn Convention & Visitors Bureau Rochester, MN | $3,813,150 | $6,781,864 |
Builders Association Of The Twin Cities Roseville, MN | $16,664,252 | $7,996,813 |
St Paul Area Board Of Realtors Inc Multiple Listing Service St Paul, MN | $14,704,848 | $6,091,315 |
Better Business Bureau Of Minnesota Inc Burnsville, MN | $5,220,297 | $4,952,353 |
Minnesota Association Of Realtors Minnetonka, MN | $10,479,384 | $5,202,086 |
Greater Minneapolis Chamber Of Commerce Minneapolis, MN | $1,657,296 | $4,628,639 |
Door County Visitor Bureau Inc Sturgeon Bay, WI | $5,249,260 | $5,589,683 |
Greater Des Moines Convention And Visitors Bureau Inc Des Moines, IA | $2,863,787 | $3,767,003 |
Iowa Association Of Realtors West Des Moines, IA | $6,111,442 | $3,764,514 |
Saint Paul Area Chamber Of Commerce St Paul, MN | $2,067,374 | $2,351,023 |