Greater Mankato Growth Inc
- Assets
- $4.7m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 26
- Location
- Mankato, MN
- Founding
- 12/1983
- Data as of
- 12/2023
- EIN
- 41-1446548
Organization Overview
Greater Mankato Growth Inc is located in Mankato, MN. The organization was established in 1983. 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, Greater Mankato Growth Inc employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Mankato Growth 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 12/2023, Greater Mankato Growth Inc generated $3.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $3.0m during the year ending 12/2023. While expenses have increased by 2.6% 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
SEE PAGE 2, PART III LINE 1
Describe the Organization's Program Activity:
Part 3 - Line 4a
BUSINESS DEVELOPMENT --THE 2023 BUSINESS AWARDS AND HALL OF FAME SOLD OUT. 417 PARTICIPANTS AND 14 AWARDS WERE PRESENTED BETWEEN OUR FOUR BUSINESS UNITS. --PARTNERED WITH SOUTH CENTRAL TOUR OF MANUFACTURING FEATURING 15 AREA ORGANIZATIONS HOSTING 443 STUDENTS FROM 19 LOCAL SCHOOLS. --RESIDENT RECRUITMENT PROGRAM IN TWIN CITIES, ST. COULD, AND CHICAGO WITH OVER 10 MILLION IMPRESSIONS. --GREENSEAM PRESENTED AT THE MN AG EXPO, FARMFEST, MN PORK CONGRESS, AND MN CHAMBER OF COMMERCE ANNUAL MEETINGS. --CITY CENTER PARTNERSHIP'S BONUS GIFT CARD PROGRAM SAW 26,428 IN RECEIPTS TURNED IN FOR BONUS GIFT CARDS EQUATING TO 3.50 IN ADDITIONAL SPENDING FOR EVERY 1 CCP INVESTED. --GREATER MANKATO HOSTED THE 2022 ANNUAL MEETING, 395 PEOPLE ATTENDED. --48 SPORTS, 30 CONFERENCES AND 13 LEISURE EVENTS BROUGHT 12 MILLION TO THE REGION. --MANKATO MARATHON HOSTED 3,398 RUNNERS WITH AN ECONOMIC IMPACT OF 2 MILLION. --GREATER MANKATO GOLF TOURNAMENT GATHERED 144 GOLFERS ALONG WITH OVER 100 GUESTS AND OVER 30 SPONSORS FOR BUSINESS CONNECTIONS AND NETWORKING. --CREATED THE FIRST MEMBER SHOWCASE ONLINE AUCTION WITH OVER 100 MEMBER BUSINESSES DONATING ITEMS. --WORKED WITH MORE THAN 1,000 STAKEHOLDERS TO SHAPE THE FUTURE VISION OF GREATER MANKATO. --280 ATTENDEES JOINED GREENSEAM'S CELEBRATION OF AG EVENT. --E-NEWS SUBSCRIBERS INCREASED 40%, FACEBOOK LIKES INCREASED 289% AND --INSTAGRAM FOLLOWERS INCREASED 254% --1,500 ATTENDEES FOR MONTHLY BUSINESS AFTER HOURS MONTHLY NETWORKING EVENTS. --GREENSEAM HOSTED THE CELEBRATION OF AG WITH OVER 250 ATTENDEES.
TALENT --192 MEMBERS INVOLVED IN YOUNG PROFESSIONALS WITH 82 NEW MEMBERS. --GREENSEAM HELPED MANKATO AREA SCHOOLS SECURE FUNDING TO HIRE A NEW AG TEACHER WHICH ALLOWED +400 STUDENTS TO GO THROUGH THE AG PROGRAM IN 2021. --40 PARTICIPANTS GRADUATED FROM LEADERSHIP INSTITUTE IN AUG 2023. --DEI COLLABORATIVE GRADUATED 29 PARTICIPANTS IN MAY, 2023. --17 BUSINESS AND NON-PROFIT LEADERS PARTICIPATED IN THE EXECUTIVE SOUNDING BOARD PROGRAM. --GLOBAL WORKFORCE PROGRAM TECHNICAL ASSISTANCE FOR AG BUSINESSES SEEKING TO HIRE NON-US CITIZENS. ORGANIZATIONAL --6TH LARGEST CHAMBER OF COMMERCE IN MN --910 MEMBERS, 56 NEW MEMBERS --34 VOLUNTEERS WITH GREATER MANKATO CAVALIERS --82 AMBASSADORS' VISITS FOR NEW BUSINESSES IN THE GREATER MANKATO AREA WITH 50 VOLUNTEERS.
LIVABILITY --32 NEW SCULPTURES WERE INSTALLED ON THE 13TH ANNIVERSARY OF WALKING SCULPTURE TOUR --CITY CENTER PARTNERSHIP HOSTED 3 INSTALLMENTS OF THE FREE CONCERT SERIES - ALIVE AFTER 5, ATTRACTING MORE THAN 1,400 VISITORS --HOSTED 4 INSTALLMENTS OF SONGS ON THE LAWN, ALSO A FREE CONCERT SERIES, BRINGING IN OVER 2,000 VISITORS. --16 BUSINESSES PARTICIPATED IN THE LET IT GLOW CAMPAIGN IN 2023.
ADVOCACY & VISIBILITY --HOSTED 3 LEGISLATIVE FORUMS. --GREATER MANKATO AT THE CAPITOL HOSTED MORE THAN 30 BUSINESS AND COMMUNITY LEADERS WHO ME WITH THE GOVER AND 6 LEGISLATORS. --SECURED 100M IN TAX RELIEF --GREENSEAM PUBLISHED THE 2023 STATE OF AG SURVEY REPORT, FOCUSING ON THE STATE OF AGRICULTURE IN OUR REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Krause Chair | Officer | 2.5 | $0 |
David Kim Vice-Chair | Officer | 2.5 | $0 |
Ben Ellingson Treasurer/se | Officer | 2.5 | $0 |
Jessica Beyer President An | Officer | 40 | $159,135 |
Jamie Jacobs Board Member | Trustee | 1 | $0 |
Christine Powers Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $659,152 |
| Fundraising events | $0 |
| Related organizations | $32,118 |
| Government grants | $208,919 |
| All other contributions, gifts, grants, and similar amounts not included above | $570,123 |
| Noncash contributions included in lines 1a–1f | $79,426 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,470,312 |
| Total Program Service Revenue | $1,717,068 |
| Investment income | $61,007 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $127 |
| Net Income from Fundraising Events | $12,266 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,319,306 |
| 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 | $1,307,594 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $168,784 |
| Payroll taxes | $97,274 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $367 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $50,017 |
| Fees for services: Other | $29,625 |
| Advertising and promotion | $424 |
| Office expenses | $32,783 |
| Information technology | $42,723 |
| Royalties | $0 |
| Occupancy | $204,791 |
| Travel | $46,410 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,190 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $30,656 |
| Insurance | $8,983 |
| All other expenses | $165,622 |
| Total functional expenses | $2,981,658 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $49,711 |
| Savings and temporary cash investments | $2,321,446 |
| Pledges and grants receivable | $485,171 |
| Accounts receivable, net | $143,367 |
| 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 | $107,443 |
| Net Land, buildings, and equipment | $113,793 |
| Investments—publicly traded securities | $640,941 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $852,814 |
| Other assets | $0 |
| Total assets | $4,714,686 |
| Accounts payable and accrued expenses | $186,992 |
| Grants payable | $0 |
| Deferred revenue | $447,297 |
| 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 | $30,566 |
| Other liabilities | $871,691 |
| Total liabilities | $1,536,546 |
| Net assets without donor restrictions | $3,178,140 |
| 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 | $4,714,686 |