The Chamber Fargo Moorhead West Fargo
- Assets
- $4.1m
- Revenue
- $3.7m
- Investments
- $366.5k
- Employees
- 29
- Location
- Fargo, ND
- Founding
- 11/1998
- Data as of
- 08/2023
- EIN
- 45-0448041
Organization Overview
The Chamber Fargo Moorhead West Fargo is located in Fargo, ND. The organization was established in 1998. 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 08/2023, Chamber Fargo Moorhead West Fargo employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chamber Fargo Moorhead West Fargo 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 08/2023, Chamber Fargo Moorhead West Fargo generated $3.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $3.9m during the year ending 08/2023. While expenses have increased by 9.1% per year over the past 8 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
THE CHAMBER IS A CATALYST FOR GROWTH AND PROSPERITY. WE PROTECT AND PROMOTE BUSINESS, INSPIRE INNOVATION, CULTIVATE COMMUNITIES AND INFLUENCE ACTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WOMEN CONNECT IS JUST ONE OF THE CHAMBER'S MONTHLY EVENT PROGRAMS, AIMED TO TARGET THE NEEDS AND DEVELOPMENT OF PROFESSIONAL WOMEN. EACH TIME YOU COME TO AN EVENT, YOU CAN EXPECT KNOWLEDGEABLE SPEAKERS ADDRESSING A RANGE OF TOPICS APPLICABLE TO WOMEN IN THE MODERN WORKPLACE. BUT IT'S NOT JUST INSPIRATION AND EDUCATION THAT YOU CAN EXPECT! THERE ARE ALSO OPPORTUNITIES TO NETWORK AND CONNECT WITH YOUR PEERS AND LOCAL LEADERS.
LEADERSHIP FARGO MOORHEAD WEST FARGO HAS CONNECTED AND DEVELOPED LEADERS WHO GREATLY IMPACT THE COMMUNITY THROUGH DEDICATION AND SERVICE. YOU WILL FIND OUR ALUMNI HOLDING PROMINENT PUBLIC LEADERSHIP ROLES WITHIN OUR COMMUNITY AND A HOST OF OTHERS WHO ACTIVELY SERVE THE COMMUNITY EVERY DAY AS BOARD MEMBERS, DILIGENT VOLUNTEERS AND DEDICATED EMPLOYEES. EACH YEAR, LFMWF SELECTS 40 EMERGING AND EXISTING LEADERS FROM ALL SECTORS OF THE COMMUNITY TO PARTICIPATE IN THE NINE-MONTH PROGRAM. OUR PARTICIPANTS BUILD AN IMPACTFUL, LONG-LASTING NETWORK OF OTHER LEADERS WHILE SHARPENING THEIR OWN LEADERSHIP CAPABILITIES, EXPLORING MANY CHALLENGES AND OPPORTUNITIES OF OUR COMMUNITY, AND CONTRIBUTING TO THE VITALITY OF OUR REGION THROUGH COMMUNITY CHANGE INITIATIVES.
THE EGGS & ISSUES MONTHLY EVENT SERIES IS AN INTEGRAL PART OF THE CHAMBER'S MISSION, AS IT CONVENES INDUSTRY LEADERS AND INFLUENTIAL PUBLIC FIGURES FOR CRUCIAL CONVERSATIONS REGARDING THE CHALLENGES AND OPPORTUNITIES THAT FACE OUR REGION AND METRO. THIS IS WHERE COMMUNITY MEMBERS AND LEADERS CAN BECOME TRULY ENGAGED WITH THE PEOPLE, CONVERSATIONS AND SOLUTIONS THAT WILL PROPEL OUR COMMUNITY INTO THE FUTURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shawn Dobberstein Chair | OfficerTrustee | 1 | $0 |
Sandi Piatz Past Chair | OfficerTrustee | 1 | $0 |
Peter Stenehjem Vice Chair | OfficerTrustee | 1 | $0 |
Tami Norgard Treasurer | OfficerTrustee | 1 | $0 |
Tina Ammerman Director | Trustee | 1 | $0 |
Steven Halverson Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $243,811 |
| All other contributions, gifts, grants, and similar amounts not included above | $12,600 |
| Noncash contributions included in lines 1a–1f | $12,600 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $256,411 |
| Total Program Service Revenue | $2,705,461 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$48,561 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,739,323 |
| 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. | $452,887 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $939,912 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $204,607 |
| Payroll taxes | $74,889 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $134,194 |
| Fees for services: Accounting | $9,000 |
| Fees for services: Lobbying | $20,500 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $121,944 |
| Advertising and promotion | $273,114 |
| Office expenses | $59,111 |
| Information technology | $13,807 |
| Royalties | $0 |
| Occupancy | $10,985 |
| Travel | $18,518 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,724 |
| Payments to affiliates | $601,842 |
| Depreciation, depletion, and amortization | $40,987 |
| Insurance | $7,460 |
| All other expenses | $176,564 |
| Total functional expenses | $3,924,719 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,409 |
| Savings and temporary cash investments | $500,503 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $444,693 |
| 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 | $85,709 |
| Net Land, buildings, and equipment | $62,506 |
| Investments—publicly traded securities | $2,460,765 |
| Investments—other securities | $366,457 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $202,455 |
| Total assets | $4,144,497 |
| Accounts payable and accrued expenses | $171,164 |
| Grants payable | $0 |
| Deferred revenue | $605,189 |
| 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 | $196,268 |
| Total liabilities | $972,621 |
| Net assets without donor restrictions | $3,171,876 |
| 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 | $4,144,497 |