Chamber Foundation
- Assets
- $639.2k
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Fargo, ND
- Founding
- 04/2018
- Data as of
- 08/2023
- EIN
- 81-5479845
Organization Overview
Chamber Foundation is located in Fargo, ND. The organization was established in 2018. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chamber Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 08/2023, Chamber Foundation generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 60.0% each year . All expenses for the organization totaled $1.2m during the year ending 08/2023. 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 FOUNDATION PROVIDES DIVERSE STRATEGIES TO ENHANCE THE FARGO MOORHEAD WEST FARGO REGION THROUGH THE EDUCATION, RETENTION, EXPANSION AND ATTRACTION OF THE WORKFORCE POPULATION, WHILE TAKING ACTIONS TO CULTIVATE A POSITIVE BUSINESS CLIMATE TO CLIMATE TO IMPROVE THE QUALITY OF LIFE FOR AREA RESIDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE IGNITE INITIATIVE DRIVES CONTINUED SUCCESS FOR THE REGIONAL BUSINESS COMMUNITY USING MULTIPLE COMPONENTS: IGNITE FMWF, THE COMMUNITY CONCIERGE PROGRAM, AND EDVENTURES. THE IGNITE INITIATIVE REGIONAL WORKFORCE TRAINING SYSTEM WHICH IS A SYSTEMATIC APPROACH TO TRAINING AND DEVELOPMENT IN THE AGRICULTURE, MANUFACTURING AND TECHNOLOGY INDUSTRIES, AND IGNITE FMWF WHICH IS THE TECHNOLOGY PLATFORM THAT DELIVERS CONTENT, INFORMATION AND ENABLES CONNECTION BETWEEN OUR COMMUNITY BUSINESSES, SCHOOLS, EDUCATORS, NONPROFITS, STUDENTS, JOBSEEKERS AND MORE. THE COMMUNITY CONCIERGE PROGRAM WELCOMES NEWCOMERS AND THEIR FAMILIES TO THE REGION BY INTRODUCING THEM TO ALL THE REASONS LOCALS LOVE AND CALL THE REGION OUR HOME. COMMUNITY REPRESENTATIVES, AS WELL AS FOUNDATION STAFF, HELP INDIVIDUALS IN ENTRY-LEVEL POSITIONS, UP TO SENIOR-LEVEL EXECUTIVES, WHETHER THEY ARE DECIDING TO MOVE HERE OR ALREADY MAKING THE TRANSITION. EDVENTURES, A PARTNERSHIP WITH THE CASS COUNTY CAREER AND TECHNICAL EDUCATION, THIS PROGRAM PROVIDES BUSINESSES AND AREA TEACHERS AN OPPORTUNITY TO CONNECT ON THE REGION'S WORKFORCE NEEDS. EMPLOYERS SHARE INFORMATION ABOUT EMPLOYMENT EXPERIENCES AND PROFESSIONAL SKILLS THAT ARE ESSENTIAL TO OPERATING A SUCCESSFUL BUSINESS. TEACHERS TAKE WHAT THEY LEARN BACK TO THE CLASSROOM TO PREPARE STUDENTS FOR THEIR FIRST DAYS ON THE JOB, SHAPING OUR REGION'S FUTURE WORKFORCE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Stenjhem Treasurer | OfficerTrustee | 1 | $0 |
Tami Norgard Chair | OfficerTrustee | 1 | $0 |
Chad Flanagan Vice Chair | OfficerTrustee | 1 | $0 |
Shannon Full Secretary | OfficerTrustee | 1 | $0 |
Jim Parsons Executive VP (left 10/2022) | Officer | 5 | $0 |
Nicole Meland Vice President (stared 7/2023) | Officer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $805,229 |
| All other contributions, gifts, grants, and similar amounts not included above | $631,140 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,436,369 |
| Total Program Service Revenue | $0 |
| Investment income | $1,142 |
| 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 | $1,437,511 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $164,931 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $1,897 |
| Fees for services: Legal | $11,597 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $20,834 |
| Advertising and promotion | $55,144 |
| Office expenses | $0 |
| Information technology | $268,371 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $22,003 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $159 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,211 |
| All other expenses | $12,225 |
| Total functional expenses | $1,187,714 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $567,506 |
| Savings and temporary cash investments | $66,364 |
| Pledges and grants receivable | $5,293 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $639,163 |
| Accounts payable and accrued expenses | $0 |
| 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 | $82,398 |
| Total liabilities | $82,398 |
| Net assets without donor restrictions | $556,765 |
| 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 | $639,163 |
Grants Awarded
Over the last fiscal year, Chamber Foundation has awarded $145,981 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
FOLKWAYS COMMUNITY DEVELOPMENT CORPORATION PURPOSE: CREATE AND IMPLEMENT PILOT PROGRAMS THAT ADDRESS TH E NEED TO CREATE CONNECTIONS BETWEEN STUDENTS, EMPLOYERS, AND THE COMMUNITY. | $63,739 |
MINNESOTA STATE COLLEGES AND UNIVERSITIES PURPOSE: STRENGTHEN CHAMBER OF COMMERCE PARTNERSHIPS WITH COMMUNITY COLLEGES AND COMMUNITY ORGANIZATIONS TO INCREASE THE NUMBER OF ADULT LEARNERS OF COLOR WHO EARN AN INDUSTRY-RELEVANT CREDENTIAL OR DEGREE. | $6,000 |
GRAND FARM RESEARCH AND EDUCATION INITIATIVE INC PURPOSE: TO DEVELOP THE SKILLED WORKFORCE NEEDED TO SUPPORT THE LOCAL AGRICULTURE, MANUFACTURING, AND TECHNOLOGY INDUSTRIES. | $26,156 |
EMERGING PRAIRIE PURPOSE: TO DEVELOP THE SKILLED WORKFORCE NEEDED TO SUPPORT THE LOCAL AGRICULTURE, MANUFACTURING, AND TECHNOLOGY INDUSTRIES. | $50,086 |