Minnesota Chamber Of Commerce And Industry
- Assets
- $9.6m
- Revenue
- $6.8m
- Investments
- $16.5k
- Employees
- 30
- Location
- St Paul, MN
- Founding
- 12/1944
- Data as of
- 09/2022
- EIN
- 41-0417210
Organization Overview
Minnesota Chamber Of Commerce And Industry is located in St Paul, MN. The organization was established in 1944. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2022, Minnesota Chamber Of Commerce And Industry employed 30 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minnesota Chamber Of Commerce And Industry 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 09/2022, Minnesota Chamber Of Commerce And Industry generated $6.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $6.9m during the year ending 09/2022. While expenses have increased by 1.3% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ADVANCE PUBLIC POLICY & JOB GROWTH STRATEGIES TO CREATE AN ENVIRONMENT FOR BUSINESSES TO PROSPER
Describe the Organization's Program Activity:
Part 3 - Line 4a
LEGISLATIVE: TO BE AN ADVOCATE FOR MINNESOTA BUSINESSES BY LOBBYING AT THE STATE CAPITOL, TESTIFYING IN COURTS AND INTERVENING BEFORE STATE REGULATORY AGENCIES. WE ALSO CONDUCT AND SPONSOR A BROAD RANGE OF RESEARCH WHICH SUPPORTS OUR WORK ON SPECIFIC POLICY ISSUES. OBJECTIVE: TO MAKE MINNESOTA A COMPETITIVE PLACE TO DO BUSINESS.MEMBERS SERVED: 6,300
SPECIAL PROGRAMS AND EVENTS: TO EDUCATE OUR MEMBERS ON LEGISLATIVE AND OTHER KEY ISSUES THAT MAY AFFECT THEIR BUSINESS. THESE PROGRAMS ALSO OFFER NETWORKING OPPORTUNITIES AMONG BUSINESS LEADERS. OUR LARGER EVENTS ARE SESSION PRIORITIES, ECONOMIC SUMMIT, WOMEN IN BUSINESS AND BUSINESS DAY AT THE CAPITOL. WE OFFER SMALLER EVENTS SUCH AS WEBINARS AND ISSUE BRIEFINGS. OBJECTIVE: TO GIVE OUR MEMBERS AN OPPORTUNITY TO NETWORK WITH OTHER BUSINESS LEADERS AND TO HEAR FIRST-HAND FROM LAWMAKERS AND OTHER KEY AUTHORITIES ON BUSINESS ISSUES.
GRASSROOTS: TO KEEP OUR MEMBERS INFORMED ON ISSUES THAT MAY AFFECT THEIR BUSINESS. COMMUNICATIONS INCLUDE A MONTHLY NEWSLETTER, BIMONTHLY LEGISLATIVE EMAIL UPDATES, ISSUE ALERTS AND A DAILY E-NEWSLETTER ON CURRENT EVENTS. OBJECTIVE: TO GIVE OUR MEMBERS THE NECESSARY INFORMATION FOR THEM TO CONTACT THEIR LAWMAKERS AND TO KEEP UPDATED ON BUSINESS ISSUES.MEMBERS SERVED: 6,300
GROW MINNESOTA!: BUSINESS RETENTION, EXPANSION AND ASSISTANCE. GROW MINNESOTA! IS A PRIVATE-SECTOR INITIATIVE OF THE MINNESOTA CHAMBER OF COMMERCE IN PARTNERSHIP WITH NEARLY 90 LOCAL CHAMBERS AND ECONOMIC DEVELOPMENT ORGANIZATIONS. THE PROGRAM FOCUSES ON RETAINING AND EXPANDING COMPANIES IN MINNESOTA.OBJECTIVE: TO THANK EMPLOYERS FOR THEIR COMMITMENT TO MINNESOTA AND TO ASSIST WITH ISSUES THAT IMPEDE THEIR GROWTH.COMPANIES SERVED: 13,000+ VISITS HAVE BEEN HELD WITH OWNERS OR TOP MANAGEMENT OF COMPANIES IN MINNESOTA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Doug Loon President/ceo | OfficerTrustee | 40 | $550,612 |
Bret Weiss Chair | OfficerTrustee | 2 | $0 |
Mary Jo Williamson Chair Elect | OfficerTrustee | 2 | $0 |
Angela Heikes Secretary/treasurer | OfficerTrustee | 2 | $0 |
Mike Mcmahan Past Chair | OfficerTrustee | 2 | $0 |
Lester Bagley Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Barr Engineering Consulting | 9/29/17 | $344,135 |
Broadpoint Inc Consulting | 9/29/17 | $230,595 |
Martin & Squires Pa Legal Services | 9/29/17 | $203,795 |
Robins Kaplan Llp Legal Services | 9/29/17 | $184,150 |
Lwg Pa Legal Services | 9/29/17 | $128,336 |
Barr Engineering Consulting | 9/29/17 | $344,135 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $41,350 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $41,350 |
| Total Program Service Revenue | $6,547,279 |
| Investment income | $79,088 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $65,000 |
| Net Rental Income | $80,194 |
| Net Gain/Loss on Asset Sales | -$40,806 |
| Net Income from Fundraising Events | -$6,489 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,794,853 |
| 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. | $1,123,861 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,240,303 |
| Pension plan accruals and contributions | $41,333 |
| Other employee benefits | $133,749 |
| Payroll taxes | $212,646 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $44 |
| Fees for services: Accounting | $16,147 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $225,735 |
| Advertising and promotion | $15,000 |
| Office expenses | $65,478 |
| Information technology | $111,289 |
| Royalties | $0 |
| Occupancy | $303,655 |
| Travel | $62,431 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $18,555 |
| Interest | $54,078 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $84,684 |
| Insurance | $38,100 |
| All other expenses | $48,407 |
| Total functional expenses | $6,851,685 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,390,613 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $200,288 |
| 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 | $150,121 |
| Net Land, buildings, and equipment | $737,671 |
| Investments—publicly traded securities | $3,249,911 |
| Investments—other securities | $16,520 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,884,846 |
| Total assets | $9,629,970 |
| Accounts payable and accrued expenses | $1,121,051 |
| Grants payable | $0 |
| Deferred revenue | $1,940,176 |
| 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 | $2,597,584 |
| Total liabilities | $5,658,811 |
| Net assets without donor restrictions | $3,901,151 |
| Net assets with donor restrictions | $70,008 |
| 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 | $9,629,970 |