Shakopee Chamber Of Commerce
- Assets
- $450.5k
- Revenue
- $655.3k
- Investments
- $0.0
- Employees
- 5
- Location
- Shakopee, MN
- Founding
- 11/2016
- Data as of
- 12/2023
- EIN
- 41-1367856
Organization Overview
Shakopee Chamber Of Commerce, operating under the name The Organization, is located in Shakopee, MN. The organization was established in 2016. 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 12/2023, Organization employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Organization 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 12/2023, Organization generated $655.3k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $896.6k during the year ending 12/2023. While expenses have increased by 5.1% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO STRENGTHEN OUR COMMUNITY BY ADVANCING BUSINESS, TOURISM, AND THE ECONOMY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SHAKOPEE CHAMBER CONNECTS LOCAL BUSINESSES, SERVICE ORGANIZATIONS AND ALL LEVELS OF GOVERNMENT TO CREATE AN ENVIRONMENT WHERE PEOPLE WANT TO LIVE, WORK AND PLAY. THE CHAMBER IS A VOLUNTARY, NOT-FOR-PROFIT BUSINESS ORGANIZATION DEDICATED TO IMPROVING THE ECONOMIC ENVIRONMENT OF THE COMMUNITY AS AN ACTIVE, PROBLEM SOLVING ORGANIZATION. THE SHAKOPEE CHAMBER OF COMMERCE FOCUSES ON ECONOMIC DEVELOPMENT, WORKFORCE DEVELOPMENT, AND LEGISLATIVE ADVOCACY AND MEMBERSHIP SERVICES. THE STRENGTH OF THE CHAMBER LIES IN ITS MEMBERSHIP, SMALL BUSINESSES, LARGE CORPORATIONS, HOME-BASED BUSINESSES, AND PROFESSIONAL MEN AND WOMEN, WORKING TOGETHER TO ENHANCE THE QUALITY OF LIFE IN SHAKOPEE THROUGH A WIDE VARIETY OF PROGRAMS AND INITIATIVES. THE SHAKOPEE CHAMBER WORKS TO POSITIVELY IMPACT THE QUALITY OF LIFE IN THE REGION, WHILE SUPPORTING THE GROWTH AND PROSPERITY OF OUR MEMBERS FROM EDUCATION TO ECONOMIC DEVELOPMENT. THE SHAKOPEE CHAMBER OF COMMERCE IS COMMITTED TO GIVING EACH MEMBER AN OPPORTUNITY TO PROSPER IN TODAY'S COMPETITIVE BUSINESS WORLD. THE CHAMBER WORKS CLOSELY WITH THE CITY OF SHAKOPEE AND NEIGHBORING COMMUNITIES, SCOTT COUNTY, AND LOCAL SERVICE ORGANIZATIONS TO PROMOTE THE ECONOMIC HEALTH OF OUR COMMUNITY. THE SHAKOPEE CHAMBER IS THE PRIMARY SOURCE FOR BUSINESSES AND INDIVIDUALS SEEKING INFORMATION ON THE BUSINESS CLIMATE IN OUR COMMUNITY, AS WELL AS SERVING AS THE PRIMARY DESTINATION MARKETING ORGANIZATION FOR SHAKOPEE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amy Schmidt Chair | OfficerTrustee | 2 | $0 |
Randy Dehmer Vice Chair | OfficerTrustee | 2 | $0 |
Tim Whitcomb Treasurer | OfficerTrustee | 2 | $0 |
Lindsey Puffer Secretary | OfficerTrustee | 2 | $0 |
Bryce Hotzler Director | Trustee | 1 | $0 |
Chad Peterson Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $159,525 |
| Related organizations | $0 |
| Government grants | $10,000 |
| 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 | $169,525 |
| Total Program Service Revenue | $560,654 |
| Investment income | $2,578 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$69,148 |
| Net Income from Fundraising Events | -$8,355 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $655,254 |
| 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. | $124,099 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $183,717 |
| Pension plan accruals and contributions | $7,235 |
| Other employee benefits | $14,115 |
| Payroll taxes | $24,897 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,630 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $300 |
| Advertising and promotion | $367,119 |
| Office expenses | $14,690 |
| Information technology | $6,183 |
| Royalties | $0 |
| Occupancy | $14,809 |
| Travel | $4,955 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,500 |
| Interest | $3,903 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,606 |
| Insurance | $2,044 |
| All other expenses | $4,585 |
| Total functional expenses | $896,598 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $211,706 |
| Savings and temporary cash investments | $83,113 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $24,129 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,023 |
| Prepaid expenses and deferred charges | $20,153 |
| Net Land, buildings, and equipment | $6,264 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $104,092 |
| Total assets | $450,480 |
| Accounts payable and accrued expenses | $52,348 |
| Grants payable | $0 |
| Deferred revenue | $18,092 |
| 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 | $138,007 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $104,092 |
| Total liabilities | $312,539 |
| Net assets without donor restrictions | $137,941 |
| 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 | $450,480 |