Hastings Area Chamber Of Commerce
- Assets
- $274.2k
- Revenue
- $439.2k
- Investments
- $0.0
- Employees
- 4
- Location
- Hastings, MN
- Founding
- 07/1968
- Data as of
- 09/2022
- EIN
- 41-0940039
Organization Overview
Hastings Area Chamber Of Commerce is located in Hastings, MN. The organization was established in 1968. 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, Hastings Area Chamber Of Commerce employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hastings 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 09/2022, Hastings Area Chamber Of Commerce generated $439.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $449.7k during the year ending 09/2022. While expenses have increased by 8.0% 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
TO LEAD, PROMOTE, AND ADVOCATE FOR THE HASTINGS AREA BUSINESS COMMUNITY TO REINFORCE A STRONG LOCAL ECONOMY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ECONOMIC, INDUSTRIAL, PROFESSIONAL, CULTURAL, EDUCATIONAL, AND CIVIC PROGRAMS INTENDED TO IMPROVE THE HASTINGS AREA BUSINESS COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kristy Barse President | OfficerTrustee | 40 | $79,390 |
Mike Mattingly Board Chair | OfficerTrustee | 1 | $0 |
Debbie Grimm Chair Elect | OfficerTrustee | 1 | $0 |
Tony Ciro Finance Chai | OfficerTrustee | 1 | $0 |
Kellie Akins Past Chair | OfficerTrustee | 1 | $0 |
Nicole Sindelar Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $65,758 |
| All other contributions, gifts, grants, and similar amounts not included above | $600 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $66,358 |
| Total Program Service Revenue | $371,933 |
| Investment income | $940 |
| 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 | $439,231 |
| 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. | $87,971 |
| Compensation of current officers, directors, key employees. | $43,986 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $58,457 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,190 |
| Payroll taxes | $11,162 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,080 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $18,869 |
| Information technology | $2,343 |
| Royalties | $0 |
| Occupancy | $12,892 |
| Travel | $0 |
| 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 | $1,336 |
| Insurance | $3,246 |
| All other expenses | $0 |
| Total functional expenses | $449,680 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $62,066 |
| Savings and temporary cash investments | $153,411 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $4,958 |
| Investments—publicly traded securities | $53,780 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $274,215 |
| Accounts payable and accrued expenses | $805 |
| 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 | $0 |
| Total liabilities | $805 |
| Net assets without donor restrictions | $250,140 |
| Net assets with donor restrictions | $23,270 |
| 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 | $274,215 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Hastings Area Chamber Of Commerce has recieved totaling $275.
| Awarding Organization | Amount |
|---|---|
Hoffman & Mcnamara Foundation Hastings, MN PURPOSE: DONATION TO FUND CHARITABLE ORG | $275 |
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 |