Worthington Chamber Of Commerce
- Assets
- $483.2k
- Revenue
- $433.6k
- Investments
- $0.0
- Employees
- 9
- Location
- Worthington, MN
- Founding
- 05/1945
- Data as of
- 12/2021
- EIN
- 41-0620765
Organization Overview
Worthington Chamber Of Commerce is located in Worthington, MN. The organization was established in 1945. 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 12/2021, Worthington Chamber Of Commerce employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Worthington 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, Worthington Chamber Of Commerce generated $433.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $332.6k during the year ending 12/2021. 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
PROMOTE/IMPROVE BUSINESS AND STIMULATE GROWTH
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE/IMPROVE BUSINESS AND STIMULATE GROWTH
PROMOTE/IMPROVE BUSINESS AND STIMULATE GROWTH
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Daley Exec Directo | Officer | 40 | $78,662 |
Julie Foote Treasurer | OfficerTrustee | 1 | $0 |
Stacy Fricke Chair | Officer | 1 | $0 |
Brad Meester Immediate Pa | Officer | 1 | $0 |
Chad Cummings Director | Trustee | 1 | $0 |
Dee Bartosh Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $33,670 |
| 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 | $33,670 |
| Total Program Service Revenue | $399,284 |
| Investment income | $644 |
| 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 | $433,598 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $150,242 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $10,529 |
| Payroll taxes | $11,947 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,209 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,218 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,284 |
| Travel | $2,252 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,879 |
| Insurance | $3,700 |
| All other expenses | $3,083 |
| Total functional expenses | $332,581 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $79,339 |
| Savings and temporary cash investments | $348,537 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $36,761 |
| 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 | $500 |
| Net Land, buildings, and equipment | $18,021 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $483,158 |
| Accounts payable and accrued expenses | $10,186 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $6,037 |
| Total liabilities | $16,223 |
| Net assets without donor restrictions | $466,935 |
| 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 | $483,158 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Worthington Chamber Of Commerce has recieved totaling $22,000.
| Awarding Organization | Amount |
|---|---|
Southwest Initiative Foundation Hutchinson, MN PURPOSE: DIVERSE BUSINESS RETENTION AND EXPANSION PROGRAM | $22,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Statewide Energy Efficiency Andrenewables Administration Inc Madison, WI | $63,794,129 | $99,926,553 |
Iowa Soybean Association Ankeny, IA | $41,040,308 | $49,594,198 |
North Central States Regional Council Of Carpenters St Paul, MN | $80,577,529 | $40,138,567 |
Association Of Equipment Manufacturers Milwaukee, WI | $65,690,987 | $35,929,615 |
International Foundation Of Employee Benefit Plans Inc Brookfield, WI | $45,052,685 | $24,056,813 |
Dane Buy Local Foundation Inc Madison, WI | $199,958 | $19,130,759 |
Society Of Corporate Compliance And Ethics & Health Care Compliance Eden Prairie, MN | $30,768,192 | $19,415,043 |
Asqexcellence Inc Milwaukee, WI | $6,648,120 | $11,915,494 |
Saint Paul Rivercentre Convention And Visitors Authority St Paul, MN | $10,775,339 | $12,198,491 |
National Association Of Tax Professionals Inc Appleton, WI | $15,322,195 | $11,606,289 |
Minnesota Hospital Association St Paul, MN | $27,636,744 | $11,552,322 |
International Dairy-Deli-Bakery Association Madison, WI | $22,953,024 | $8,197,084 |