South Dakota Chamber Of Commerce & Industry
- Assets
- $183.7k
- Revenue
- $510.1k
- Investments
- $0.0
- Employees
- 3
- Location
- Pierre, SD
- Founding
- 05/1937
- Data as of
- 12/2023
- EIN
- 46-0141180
Organization Overview
South Dakota Chamber Of Commerce & Industry is located in Pierre, SD. The organization was established in 1937. 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, South Dakota Chamber Of Commerce & Industry employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. South Dakota Chamber Of Commerce & Industry 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, South Dakota Chamber Of Commerce & Industry generated $510.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.5%) each year. All expenses for the organization totaled $520.5k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (5.1%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, South Dakota Chamber Of Commerce & Industry has awarded 15 individual grants totaling $185,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE SOUTH DAKOTA CHAMBER OF COMMERCE AND INDUSTRY WILL PROVIDED LEADERSHIP TO ENSURE A VIGOROUS AND PROSPEROUS BUSINESS CLIMATE FOR THE BENEFIT FOR ALL SOUTH DAKOTANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE GOVERNOR'S GIANT VISION COMPETITION IS DESIGNED TO ENCOURAGE AND DEVELOP THE ENTREPRENEURIAL SPIRIT IN SOUTH DAKOTA. SOUTH DAKOTA RESIDENTS AND FULLTIME STUDENTS OF SOUTH DAKOTA COLLEGES, UNIVERSITIES AND TECHNICAL SCHOOLS APPLY TO THE PROGRAM BY SUBMITTING COMPLETE BUSINESS PLANS AND SUPPORTING DOCUMENTS. ALL ENTRANTS ARE JUDGED BY AN INITIAL PANEL OF EXPERIENCED INDIVIDUALS. THE SELECTED FINALISTS GO ON TO COMPETE DURING AN EVENT THAT INCLUDES FORMAL PRESENTATIONS BY THE STUDENT COMPETITORS AND THOSE IN THE OPEN, OR BUSINESS, COMPETITION TO THEIR RESPECTIVE PANEL OF JUDGES. WINNERS IN EACH ARE SELECTED AND ANNOUNCED DURING THE AWARDS PROGRAM. CASH PRIZES ARE AWARDED.
ECONOMIC OUTLOOK SEMINAR - THE ANNUAL SEMINAR PROVIDES ATTENDEES WITH UPDATED INFORMATION ON THE STATE'S ECONOMY, AN EDUCATION ABOUT THE FACTORS THAT DRIVE THE ECONOMY AND FEATURES SPEAKERS ADDRESSING A CERTAIN SEGMENT OF THE ECONOMY.
LEGISLATIVE ADVOCACY AND RESEARCH - THE CHAMBER FUNCTIONS AS AN ADVOCATE FOR OUR MEMBERS AND FOR ALL BUSINESSES IN SOUTH DAKOTA. THIS ADVOCACY IS DONE IN THE LEGISLATURE, BEFORE STATE AGENCIES, AND DIRECTLY WITH THE PUBLIC IN THE FORM OF INITIATIVE CAMPAIGNS. EACH YEAR, THE SOUTH DAKOTA CHAMBER MONITORS LEGISLATION FOR BILLS THAT POSE A THREAT TO OUR MEMBERS AND TO THE OVERALL BUSINESS CLIMATE OF THE STATE. WE ARE PRESENT EVERY DAY TO LOBBY FOR OUR MEMBERS. WHEN IMPORTANT ISSUES ARE DISCUSSED AT THE DEPARTMENT LEVEL, THE CHAMBER IS AT THE TABLE, BRINGING A RESPECTED VOICE TO THE CONVERSATIONS. EACH WEEK DURING THE LEGISLATIVE SESSION MEMBERS HAVE THE OPPORTUNITY TO PARTICIPATE IN ONLINE LEGISLATIVE BRIEFINGS AND RECEIVE REGULAR ISSUES OF A NEWSLETTER TITLED "CAPITOL-ISM" WHICH GIVES ANALYSIS OF KEY ISSUES IN A WAY THAT MEMBERS CAN APPLY TO THEIR BUSINESS OR UPDATES AS KEY BILLS MOVE THROUGH THE PROCESS.
BUSINESS DAY PROVIDES AN OPPORTUNITY FOR ATTENDEES TO GATHER IN PIERRE AND LEARN ABOUT CURRENT LEGISLATIVE ISSUES BEING DEBATED AND HEAR FROM LEADING SPEAKERS. ATTENDEES VOTE THEIR OPINIONS ON LEGISLATIVE ISSUES DURING THE ANNUAL BUSINESS CAUCUS VIA TEXT MESSAGES, WITH THE RESULTS BEING TABULATED AND DISPLAYED. THE RESULTS, REPRESENTING DIVERSE DEMOGRAPHICS, ARE DELIVERED TO STATE LEGISLATORS THE NEXT DAY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Owen President | OfficerTrustee | 50 | $134,983 |
Sheila Anderson Board Chair | OfficerTrustee | 5 | $0 |
Michael Bender Director | Trustee | 5 | $0 |
Paul Bruflat Director | Trustee | 5 | $0 |
David Chicoine Director | Trustee | 5 | $0 |
Zach Clark Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $279,779 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $40,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $422 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $320,201 |
| Total Program Service Revenue | $180,547 |
| Investment income | $872 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $510,075 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $60,000 |
| 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. | $155,842 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $96,364 |
| Pension plan accruals and contributions | $2,825 |
| Other employee benefits | $10,324 |
| Payroll taxes | $18,167 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,291 |
| Fees for services: Lobbying | $4,069 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $30,143 |
| Information technology | $12,809 |
| Royalties | $0 |
| Occupancy | $13,995 |
| Travel | $34,565 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $26,439 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,059 |
| Insurance | $2,340 |
| All other expenses | $9,221 |
| Total functional expenses | $520,499 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,976 |
| Savings and temporary cash investments | $93,120 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $78,405 |
| 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 | $3,218 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $183,719 |
| Accounts payable and accrued expenses | $29,474 |
| Grants payable | $0 |
| Deferred revenue | $199,142 |
| 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 | $0 |
| Total liabilities | $228,616 |
| Net assets without donor restrictions | -$54,897 |
| Net assets with donor restrictions | $10,000 |
| 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 | $183,719 |
Grants Awarded
Over the last fiscal year, South Dakota Chamber Of Commerce & Industry has awarded $30,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
AMBER LLC PURPOSE: COMPETITION AWARD | $20,000 |
PRAIRIE BIOTECHNOLOGY LLC PURPOSE: COMPETITION AWARD | $10,000 |