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Nonprofiteer
← DULUTH AREA CHAMBER FOUNDATION

Form 990 for tax year 2024

Filed by DULUTH AREA CHAMBER FOUNDATION.

Totals

Total revenue
$276,396
Total expenses
$113,775
Contributions and grants received
$274,928
Grants paid
$0
Program service revenue
$0
Investment income
$1,468
Other revenue
$0
Total assets, end of year
$112,811
Total liabilities, end of year
$18,000
Net assets or fund balances, end of year
$94,811
Program services expenses (Part IX)
$95,655
Management and general expenses
$18,120
Fundraising expenses
$0
Program service expenses (Part III)
$95,655

Program services were 84.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $274,928

  • 3 · Investment income

    total $1,468 · excluded $1,468

Functional expenses

Part IX, the statement of functional expenses.

  • 11g · Fees: other

    total $18,000 · management and general $18,000

  • 13 · Office expenses

    total $120 · management and general $120

  • 24a · Other expenses: PROGRAM EXPENSES

    total $95,655 · program services $95,655

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $91,508 · end of year $108,723

  • 4 · Accounts receivable

    end of year $4,088

  • 17 · Accounts payable and accrued expenses

    end of year $18,000

  • 25 · Other liabilities

    beginning of year $159,318

  • 27 · Net assets without donor restrictions

    beginning of year -$67,810 · end of year $94,811

Mission and programs · 2024

Mission

THE FOUNDATION IS ORGANIZED AND SHALL BE OPERATED FOR PURPOSES OF SUPPORTING THE WORK AND MISSION OF THE CHAMBER AND STRIVES TO IMPROVE ECONOMIC OPPORTUNITIES, EQUITY, AND IMPROVED QUALITY OF LIFE THROUGH RESEARCH, EDUCATION, ADVOCACY, PARTICIPATING IN CHARITABLE ACTIVITIES, AND SUPPORT OF INDIVIDUALS, BUSINESSES, ENTREPRENEURS, AND ECONOMIC TRANSACTORS.

  • THE FOUNDATION IS ORGANIZED AND SHALL BE OPERATED FOR PURPOSES OF SUPPORTING THE WORK AND MISSION OF THE CHAMBER AND STRIVES TO IMPROVE ECONOMIC OPPORTUNITIES, EQUITY, AND IMPROVED QUALITY OF LIFE THROUGH RESEARCH, EDUCATION, ADVOCACY, PARTICIPATING IN CHARITABLE ACTIVITIES, AND SUPPORT OF INDIVIDUALS, BUSINESSES, ENTREPRENEURS, AND ECONOMIC TRANSACTORS.

    Expenses $95,655

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Matt Baumgartner

    CEO

    Total calculated
    $0
    Hours/week
    1

  • Jon Birkeland

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Renee Mattson Burns

    CHAIR

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
15 July 2025
IRS schema version
2024v5.0
Source object
202513019349300616

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