Brookings Area Chamber Of Commerce
- Assets
- $625.3k
- Revenue
- $714.4k
- Investments
- $0.0
- Employees
- 13
- Location
- Brookings, SD
- Founding
- 10/1973
- Data as of
- 12/2021
- EIN
- 46-0121700
Organization Overview
Brookings Area Chamber Of Commerce is located in Brookings, SD. The organization was established in 1973. 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, Brookings Area Chamber Of Commerce employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Brookings 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 12/2021, Brookings Area Chamber Of Commerce generated $714.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.5%) each year. All expenses for the organization totaled $488.3k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (10.4%) per year over the past 7 years. 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
THE ORGANIZATION IS DEDICATED TO SERVE ITS MEMBERS BY ENHANCING THE ECONOMIC WELL-BEING OF THE CITY OF BROOKINGS AND ITS SURROUNDING AREA AND TO IMPROVE ITS QUALITY OF LIFE AND PROSPERITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTING THE WELFARE OF THE CITY OF BROOKINGS, SOUTH DAKOTA AND THE SURROUNDING AREA. ENCOURAGING BUSINESS GROWTH THROUGH MEMBERSHIPS, MARKETING AND COMMUNICATIONS AND EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kelsey Doom Executive Di | Officer | 40 | $79,301 |
Sean Binker Chair | Trustee | 1 | $0 |
Megan Nelson Director | Trustee | 1 | $0 |
Kyle Bender Director | Trustee | 1 | $0 |
Andi Fouberg Director | Trustee | 1 | $0 |
Don Greiner Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $270,379 |
| All other contributions, gifts, grants, and similar amounts not included above | $119,639 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $390,018 |
| Total Program Service Revenue | $297,869 |
| Investment income | $6,653 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,094 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $714,435 |
| 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 | $200,072 |
| Pension plan accruals and contributions | $8,570 |
| Other employee benefits | $11,018 |
| Payroll taxes | $16,402 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,378 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $75,259 |
| Office expenses | $36,364 |
| Information technology | $10,016 |
| Royalties | $0 |
| Occupancy | $26,582 |
| Travel | $1,898 |
| 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 | $2,841 |
| Insurance | $5,350 |
| All other expenses | $0 |
| Total functional expenses | $488,309 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $304,372 |
| Savings and temporary cash investments | $30,159 |
| 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 | $19,634 |
| Investments—publicly traded securities | $270,660 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $500 |
| Total assets | $625,325 |
| Accounts payable and accrued expenses | $5,586 |
| 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 | $33,065 |
| Total liabilities | $38,651 |
| Net assets without donor restrictions | $558,209 |
| Net assets with donor restrictions | $28,465 |
| 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 | $625,325 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Brookings Area Chamber Of Commerce has recieved totaling $34,000.
| Awarding Organization | Amount |
|---|---|
Brookings Economic Development Corporation Brookings, SD PURPOSE: Events | $34,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Society Of Corporate Compliance And Ethics & Health Care Compliance Eden Prairie, MN | $30,768,192 | $19,415,043 |
Saint Paul Rivercentre Convention And Visitors Authority St Paul, MN | $10,775,339 | $12,198,491 |
Minnesota Hospital Association St Paul, MN | $27,636,744 | $11,552,322 |
Aca International Eagan, MN | $12,262,505 | $9,311,579 |
Minneapolis Downtown Improvement District Minneapolis, MN | $3,331,993 | $8,257,561 |
Nutech Ventures Lincoln, NE | $5,844,401 | $7,636,320 |
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 |
American Simmental Association Bozeman, MT | $18,730,338 | $6,575,498 |
Minnesota Association Of Professional Employees Mape Shoreview, MN | $22,099,313 | $6,757,766 |