Greater Mankato Growth Inc
- Assets
- $3.3m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 22
- Location
- Mankato, MN
- Founding
- 12/1983
- Data as of
- 12/2021
- 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 12/2021, Greater Mankato Growth Inc employed 22 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 12/2021, Greater Mankato Growth Inc generated $2.8m 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 $2.1m 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
SEE PAGE 2, PART III LINE 1
Describe the Organization's Program Activity:
Part 3 - Line 4a
BUSINESS DEVELOPMENT --THE 2021 BUSINESS AWARDS AND HALL OF FAME SOLD OUT. 440 PARTICIPANTS AND 16 AWARDS WERE PRESENTED BETWEEN OUR FOUR BUSINESS UNITS. --WORKED ON OVER 60 PROJECTS SEEKING TO ENTER OR EXPAND IN GREATER MN. --RAN 2 TALENT RECRUITMENT CAMPAIGNS TOTALING 19,300 IMPRESSIONS. --VISIT MANKATO HOSTED COLLEAGUES FROM MN FOR THE ANNUAL EDUCATION SUMMIT WITH 50 IN PERSON AND 15 ATTENDEES. --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 38,000 IN RECEIPTS TURNED IN FOR BONUS GIFT CARDS EQUATING TO 5 IN ADDITIONAL SPENDING FOR EVERY 1 CCP INVESTED. --GREATER MANKATO HOSTED THE 2021 ANNUAL MEETING, 219 PEOPLE ATTENDED IN PERSON AND EVENT WAS HELD ON ZOOM. --56 SPORTS, 15 CONFERENCES AND 9 LEASER EVENTS BROUGHT 10.8 MILLION TO THE REGION. --MANKATO MARATHON HOSTED +3,100 RUNNERS FROM 32 STATES WITH AN ECONOMIC IMPACT OF 1.85 MILLION. --GREATER MANKATO GOLF TOURNAMENT GATHERED 155 GOLFERS AND 37 SPONSORS FOR BUSINESS CONNECTIONS AND NETWORKING. --SENIOR GAMES HOSED 522 PARTICIPANTS FROM 26 STATES WITH AN ESTIMATED ECONOMIC IMPACT OF 478,589 --280 ATTENDEES JOINED GREENSEAM'S CELEBRATION OF AG EVENT. --E-NEWS SUBSCRIBERS INCREASED 116%, FACEBOOK LIKES INCREASED 18% AND INSTAGRAM FOLLOWERS INCREASED 24% ORGANIZATIONAL --4TH LARGEST CHAMBER OF COMMERCE IN MN --909 MEMBERS, 74 NEW MEMBERS --31 VOLUNTEERS WITH GREATER MANKATO CAVALIERS --87 AMBASSADORS' VISITS FOR NEW BUSINESSES IN THE GREATER MANKATO AREA
ADVOCACY & VISIBILITY --VISIT MANKATO LEADERSHIP TESTIFIED AT SENATE HEARINGS IN SUPPORT OF EXPLORE MN TOURISM 6M FUNDING REQUEST FOR RECOVERY PROGRAMS --WORKED WITH CONGRESSIONAL DELEGATION TO INTRODUCED LEGISLATION THAT WOULD EXPAND THE OPPORTUNITY ZONES PROGRAM NATIONWIDE. --CELEBRATED THE RIBBON CUTTING ON NEW HIGHWAY 14 SECTION BETWEEN OWATONNA AND DODGE CENTER, AFTER YEARS OF ADVOCACY FOR ITS COMPLETION. --GREENSEAM PUBLISHED THE 2022 STATE OF AG SURVEY REPORT, FOCUSING ON THE STATE OF AGRICULTURE IN OUR REGION.
LIVABILITY --31 NEW SCULPTURES WERE INSTALLED ON THE 10TH ANNIVERSARY OF WALKING SCULPTURE TOUR --CITY CENTER PARTNERSHIP HOSTED 3 INSTALLMENTS OF THE FREE CONCERT SERIES ALIVE AFTER 5 --HOSTED 4 INSTALLMENTS OF SONGS ON THE LAWN, ALSO A FREE CONCERT SERIES. --28 BUSINESSES PARTICIPATED IN ADOPT A PLANTER PROGRAM. --24 BUSINESSES PARTICIPATED IN THE LET IT GLOW CAMPAIGN IN 2021.
TALENT --170 MEMBERS INVOLVED IN YOUNG PROFESSIONALS WITH 56 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. --20 PARTICIPANTS GRADUATED FROM LEADERSHIP INSTITUTE IN AUG 2021. --16 BUSINESS AND NON-PROFIT LEADERS PARTICIPATED IN THE EXECUTIVE SOUNDING BOARD PROGRAM. --PIOLOTED AND LAUNCHED THE PROFESSIONAL DEVELOPMENT SERIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jessica Beyer President An | Officer | 55 | $164,853 |
David Krause Vice-Chair | Officer | 2.5 | $0 |
Charlie Whitaker Chair | Officer | 2.5 | $0 |
Ben Ellingson Treasurer/se | Officer | 2.5 | $0 |
Annette Parker Board Member | Trustee | 1 | $0 |
Cuong Huynh Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $659,072 |
| Fundraising events | $16,775 |
| Related organizations | $25,500 |
| Government grants | $82,860 |
| All other contributions, gifts, grants, and similar amounts not included above | $554,735 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,338,942 |
| Total Program Service Revenue | $1,361,462 |
| Investment income | $17,552 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $37,963 |
| Net Income from Fundraising Events | $4,724 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,765,027 |
| 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. | $164,853 |
| Compensation of current officers, directors, key employees. | $14,837 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $786,776 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $118,978 |
| Payroll taxes | $72,336 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,985 |
| Fees for services: Accounting | $19,567 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,773 |
| Fees for services: Other | $3,821 |
| Advertising and promotion | $0 |
| Office expenses | $29,775 |
| Information technology | $7,726 |
| Royalties | $0 |
| Occupancy | $172,467 |
| Travel | $20,455 |
| 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 | $24,733 |
| Insurance | $7,853 |
| All other expenses | -$9,145 |
| Total functional expenses | $2,102,268 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,872,394 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $418,754 |
| Accounts receivable, net | $148,298 |
| 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 | $63,514 |
| Net Land, buildings, and equipment | $110,302 |
| Investments—publicly traded securities | $682,646 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $38,000 |
| Other assets | $0 |
| Total assets | $3,333,908 |
| Accounts payable and accrued expenses | $103,530 |
| Grants payable | $0 |
| Deferred revenue | $424,076 |
| 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 | $101,659 |
| Other liabilities | $5,681 |
| Total liabilities | $634,946 |
| Net assets without donor restrictions | $2,698,962 |
| 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 | $3,333,908 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Greater Mankato Growth Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Minnesota Corn Growers Association Burnsville, MN PURPOSE: Education & Awareness | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
National Funeral Directors Association Of The United States I Brookfield, WI | $21,618,319 | $10,407,549 |
Aca International Eagan, MN | $12,262,505 | $9,311,579 |
Minneapolis Downtown Improvement District Minneapolis, MN | $3,331,993 | $8,257,561 |
Greater Des Moines Partnership Des Moines, IA | $8,726,466 | $7,643,877 |
Greater Sioux Falls Chamber Of Commerce Sioux Falls, SD | $10,050,793 | $7,933,347 |