Mitchell Chamber Of Commerce
- Assets
- $3.1m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 46
- Location
- Mitchell, SD
- Founding
- 08/1961
- Data as of
- 09/2022
- EIN
- 46-0166147
Organization Overview
Mitchell Chamber Of Commerce is located in Mitchell, SD. The organization was established in 1961. 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 09/2022, Mitchell Chamber Of Commerce employed 46 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mitchell 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 09/2022, Mitchell Chamber Of Commerce generated $1.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $1.2m during the year ending 09/2022. While expenses have increased by 0.9% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE LEADERSHIP TO UNIFY COMMUNITY ACTION THAT ENHANCES THE BUSINESS ENVIRONMENT AND THE QUALITY OF LIFE OF THE MITCHELL AREA. THE ORGANIZATION PROMOTES THE GROWTH OF BUSINESSES LOCATED WITHIN THE DESIGNATED AREAS AROUND MITCHELL, SD AND PROMOTES VISITATION/TOURISM TO THE MITCHELL AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CONVENTION AND VISITORS BUREAU (CVB) IS A DIVISION OF THE MITCHELL AREA CHAMBER OF COMMERCE. THE CVB PROVIDES STAFFING OF THE MITCHLL AREA VISITOR INFORMATION CENTER (6 PART-TIME EMPLOYEES, AND 3 VOLUNTEERS). DURING THE YEAR THE ORGANIZATION ASSISTED WITH STAFFING FOR VARIOUS CONVENTIONS HELD IN THE CITY, GENERALLY PROVIDING ONE OR TWO VOLUNTEERS PER EVENT. THE CVB ALSO ASSISTS IN THE FUNDING, ADVERTISING, AND HOPITALITY OF VARIOUS ATHLETIC EVENTS HELD WITHIN THE CITY OF MITCHELL.
REGIONAL MARKETING - THROUGH THE ORGANIZATION'S REGIONAL MARKETING COMMITTEE VARIOUS EVENTS ARE PROMOTED TO DRAW PEOPLE TO THE REGION. SPECIFIC EVENTS PARTIALLY FUNDED THROUGH THE COMMITTEE'S ACTIVITIES WERE A MEMORIAL WEEKEND EVENT HELD IN MITCHELL, THE OUTKAST CAR CLUB HOT ROD CONVENTION AND CAR SHOW, THE CORN PALACE RODEO, THE CITY OF MITCHELL PARADE OF LIGHTS, AND THE SHAWN SANDOVAL MEMORIAL BASEBALL TOURNEY.
COMMITTEES - THE ORGANIZATION HAS SEVERAL COMMITTEES WHICH WORK TO PROMOTE LOCAL BUSINESS AND LEADERSHIP WITHIN THE COMMUNITY. THESE COMMITTEES INCLUDE THE AMBASSADORS COMMITTEE, AGRIBUSINESS COMMITTEE, MEMBERSHIP COMMITTEE, HEALTH SERVICES COMMITTEE, GOVERNMENT AFFAIRS COMMITTEE, AND CITY BEAUTIFICATION COMMITTEE.
OTHER ACTIVITIES OF THE ORGANIZATION INCLUDES VARIOUS COMMITTEES THAT ARE RESPONSIBLE FOR PROMOTING LOCAL BUSINESSES AND EVENTS THROUGHOUT THE LOCAL AREA.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kimberly Lofgren CFO | Officer | 28 | $73,124 |
Geri Beck CEO | Officer | 8 | $7,605 |
Austen Iverson Chair | OfficerTrustee | 1 | $0 |
Becky Pitz Past Chair | OfficerTrustee | 1 | $0 |
Eric Giblin Vice-Chair | OfficerTrustee | 1 | $0 |
Josh Moody Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $250,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $250,000 |
| Total Program Service Revenue | $225,447 |
| Investment income | $1,986 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $45,753 |
| Net Gain/Loss on Asset Sales | -$48,521 |
| Net Income from Fundraising Events | $6,066 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $719,024 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,365,981 |
| 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. | $7,605 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $453,181 |
| Pension plan accruals and contributions | $6,072 |
| Other employee benefits | $17,467 |
| Payroll taxes | $40,358 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,441 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $126,080 |
| Office expenses | $39,222 |
| Information technology | $6,674 |
| Royalties | $0 |
| Occupancy | $155,528 |
| Travel | $7,996 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,469 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $44,393 |
| Insurance | $20,188 |
| All other expenses | $91,574 |
| Total functional expenses | $1,227,708 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,237,432 |
| Savings and temporary cash investments | $319,087 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,390 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $200,419 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,167,583 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $11,817 |
| Other assets | $175,217 |
| Total assets | $3,129,945 |
| Accounts payable and accrued expenses | $74,537 |
| Grants payable | $0 |
| Deferred revenue | $11,429 |
| 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 | $563,559 |
| Total liabilities | $649,525 |
| Net assets without donor restrictions | $2,475,573 |
| Net assets with donor restrictions | $4,847 |
| 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 | $3,129,945 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Wyoming Chambers Health Benefit Association Gillette, WY | $3,153,493 | $5,111,173 |
New Better Business Bureau Inc Omaha, NE | $8,883,722 | $5,104,852 |