St Cloud Chamber Of Commerce Inc
- Assets
- $2.0m
- Revenue
- $1.7m
- Investments
- $26.2k
- Employees
- 17
- Location
- St Cloud, MN
- Founding
- 10/1944
- Data as of
- 08/2023
- EIN
- 41-0517417
Organization Overview
St Cloud Chamber Of Commerce Inc is located in St Cloud, MN. The organization was established in 1944. 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 08/2023, St Cloud Chamber Of Commerce Inc employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. St Cloud Chamber Of Commerce Inc 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 08/2023, St Cloud Chamber Of Commerce Inc generated $1.7m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $1.7m during the year ending 08/2023. As we would expect to see with falling revenues, expenses have declined by (0.7%) 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ST CLOUD AREA CHAMBER OF COMMERCE IS THE PREMIER REPRESENTATIVE OF THE BUSINESS COMMUNITY. SUPPORTED AND LED BY MEMBERS AND PROFESSIONAL STAFF, WE CREATE, ENHANCE AND SUPPORT A HEALTHY BUSINESS ENVIRONMENT FOR OUR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ST CLOUD AREA CHAMBER OF COMMERCE IS A REGIONAL MEMBERSHIP ORGANIZATION MADE UP OF DIVERSE BUSINESSES. WE INCREASE BUSINESS CONTACTS, PROVIDE PROFESSIONAL DEVELOPMENT, AND PROVIDE LEADERSHIP AND INFORMATION ON LOCAL, STATE, AND NATIONAL BUSINESS ISSUES.
DURING OUR FISCAL YEAR ENDING 8-31-2023, THE CHAMBER OF COMMERCE SUCCESSFULLY HELD 7 SPECIAL EVENTS WITH THOUSANDS IN ATTENDANCE AS WELL AS 12 SAUK RAPIDS AND 12 WAITE PARK CHAMBER MEETINGS, 46 CHAMBER CONNECTION NETWORKING MEETINGS, 12 BUSINESS AFTER HOURS NETWORKING EVENTS, A 6-WEEK SUPERVISOR DEVELOPMENT PROGRAM, 9-MONTH LEADERSHIP PROGRAM, 12 NEXT EMERGING LEADERS NETWORKING LUNCHES, 12 NEW MEMBER MIXERS, 12+ GOVERNMENT AFFAIRS EVENTS INCLUDING A TRIP TO WASHINGTON, D.C., 10 LUNCHTIME LEARNING PROFESSIONAL DEVELOPMENT SEMINARS, DEI SUMMIT, PLUS MANY OTHER OPPORTUNITIES FOR MEMBERS TO CONNECT, LEARN AND GROW. EACH INITIATIVE IS CONDUCTED BY A TALENTED STAFF ALONG WITH OVER 20 DIFFERENT VOLUNTEER COMMITTEES MADE UP OF MEMBERS WHO SHARE THEIR TIME AND TALENTS TO ENSURE THAT THE CHAMBER CONTINUES TO BE AN EFFECTIVE RESOURCE FOR BUSINESSES IN CENTRAL MINNESOTA AND BEYOND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Johnson Chair | OfficerTrustee | 1 | $0 |
Tanja Goering Vice Chair | OfficerTrustee | 1 | $0 |
Bernie Perryman Past Chair | OfficerTrustee | 0.5 | $0 |
Joe Hellie Director | Trustee | 0.5 | $0 |
Ron Brandenburg Director | Trustee | 0.5 | $0 |
Doug Cook Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $758,019 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $575,940 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,613 |
| Noncash contributions included in lines 1a–1f | $7,613 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,341,572 |
| Total Program Service Revenue | $343,791 |
| Investment income | $1,704 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$3,744 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $40 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,683,363 |
| 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. | $166,252 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $623,898 |
| Pension plan accruals and contributions | $21,886 |
| Other employee benefits | $67,514 |
| Payroll taxes | $58,356 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $55,632 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,581 |
| Advertising and promotion | $183,287 |
| Office expenses | $97,826 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $159,609 |
| Travel | $18,335 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $85,510 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,991 |
| Insurance | $5,149 |
| All other expenses | $6,544 |
| Total functional expenses | $1,730,997 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $801,014 |
| Savings and temporary cash investments | $806,491 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $241,172 |
| 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 | $50,780 |
| Net Land, buildings, and equipment | $36,276 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $26,188 |
| Investments—program-related | $0 |
| Intangible assets | $6,666 |
| Other assets | $0 |
| Total assets | $1,968,587 |
| Accounts payable and accrued expenses | $101,053 |
| Grants payable | $0 |
| Deferred revenue | $159,028 |
| 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 | $260,081 |
| Net assets without donor restrictions | $1,708,506 |
| 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 | $1,968,587 |