Owatonna Area Chamber Of Commerce
- Assets
- $915.2k
- Revenue
- $799.9k
- Investments
- $0.0
- Employees
- 9
- Location
- Owatonna, MN
- Founding
- 01/1950
- Data as of
- 12/2021
- EIN
- 41-0639369
Organization Overview
Owatonna Area Chamber Of Commerce is located in Owatonna, MN. The organization was established in 1950. 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, Owatonna Area Chamber Of Commerce employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Owatonna Area 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, Owatonna Area Chamber Of Commerce generated $799.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $705.7k during the year ending 12/2021. While expenses have increased by 0.7% 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
TO PRODUCE CONTINUING BUSINESS DEVELOPMENT AND TO PROVIDE SERVICES FOR THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE SERVICES TO BUSINESSES AND INDIVIDUALS IN THE COMMUNITY.
TO PROVIDE ENHANCEMENT OF TOURISM TO THE AREA.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brad Meier CEO | Officer | 40 | $103,039 |
Kelly Boomgarden Chair | Officer | 1 | $0 |
Syd Briggs Treasurer | Officer | 1 | $0 |
Nathan Dotson Past Chair | Officer | 1 | $0 |
Todd Trout Vice Chair | Officer | 1 | $0 |
Doug Betti Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $311,159 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $108,660 |
| 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 | $419,819 |
| Total Program Service Revenue | $378,843 |
| Investment income | $1,225 |
| 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 | $799,887 |
| 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. | $103,039 |
| Compensation of current officers, directors, key employees. | $12,365 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $220,353 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $52,204 |
| Payroll taxes | $25,852 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $27,289 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $93,213 |
| Office expenses | $46,735 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $26,845 |
| Travel | $1,028 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,426 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,002 |
| Insurance | $7,754 |
| All other expenses | $340 |
| Total functional expenses | $705,697 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $741,803 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $103,584 |
| 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 | $16,655 |
| Net Land, buildings, and equipment | $53,168 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $915,210 |
| Accounts payable and accrued expenses | $171,024 |
| Grants payable | $0 |
| Deferred revenue | $186,815 |
| 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 | $357,839 |
| Net assets without donor restrictions | $557,371 |
| 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 | $915,210 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Owatonna Area Chamber Of Commerce has recieved totaling $5,500.
| Awarding Organization | Amount |
|---|---|
Mayo Clinic Group Return Rochester, MN PURPOSE: SUPPORT EXEMPT PURPOSE | $5,500 |
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 |