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Nonprofiteer
← MINNESOTA CHAMBER OF COMMERCE AND INDUSTRY

Form 990 for tax year 2024

Filed by MINNESOTA CHAMBER OF COMMERCE AND INDUSTRY.

Totals

Total revenue
$7,653,674
Total expenses
$6,677,540
Contributions and grants received
$30,750
Grants paid
$50,000
Program service revenue
$7,145,339
Investment income
$239,392
Other revenue
$238,193
Total assets, end of year
$11,386,628
Total liabilities, end of year
$5,194,391
Net assets or fund balances, end of year
$6,192,237
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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.

  • 1c · Fundraising events

    $30,750

  • 2a · Program service revenue: MEMBERSHIP DUES

    total $5,226,267 · related or exempt $5,226,267

  • 2b · Program service revenue: OTHER SPECIAL PROGRAMS

    total $942,962 · related or exempt $942,962

  • 2c · Program service revenue: EDUCATION PROGRAMS

    total $764,461 · related or exempt $764,461

  • 2d · Program service revenue: SPONSORSHIP INCOME

    total $187,649 · related or exempt $187,649

  • 2e · Program service revenue: GROW MN!

    total $24,000 · related or exempt $24,000

  • 3 · Investment income

    total $201,276 · excluded $201,276

  • 5 · Royalties

    total $65,000 · excluded $65,000

  • 6a · Gross rents

    real property $89,710

  • 6b · Less rental expenses

    real property $5,166

  • 6c · Rental income or loss

    real property $84,544

  • 6d · Net rental income or loss

    total $84,544 · excluded $84,544

  • 7a · Gross sales of assets other than inventory

    securities $514,867

  • 7b · Less cost or other basis and sales expenses

    securities $476,751

  • 7c · Gain or loss

    securities $38,116

  • 7d · Net gain or loss

    total $38,116 · excluded $38,116

  • 8a · Fundraising events: gross income

    $58,525

  • 8a · Fundraising events: contributions included on line 1c

    $30,750

  • 8b · Fundraising events: direct expenses

    $51,407

  • 8c · Net income from fundraising events

    total $7,118 · excluded $7,118

  • 11a · Other revenue: MISCELLANEOUS

    total $81,531 · excluded $81,531

  • 11e · Other revenue, total

    $81,531

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $50,000

  • 5 · Compensation of officers, directors and key employees

    total $1,191,821

  • 7 · Other salaries and wages

    total $2,549,693

  • 8 · Pension plan contributions

    total $59,100

  • 9 · Other employee benefits

    total $193,744

  • 10 · Payroll taxes

    total $243,698

  • 11g · Fees: other

    total $341,150

  • 12 · Advertising and promotion

    total $28,094

  • 13 · Office expenses

    total $39,864

  • 14 · Information technology

    total $37,627

  • 16 · Occupancy

    total $301,744

  • 17 · Travel

    total $63,869

  • 19 · Conferences, conventions and meetings

    total $18,554

  • 20 · Interest

    total $82,511

  • 22 · Depreciation, depletion and amortization

    total $84,644

  • 23 · Insurance

    total $38,295

  • 24a · Other expenses: MISCELLANEOUS

    total $433,024

  • 24b · Other expenses: POLITICAL ACTIVITIES

    total $315,325

  • 24c · Other expenses: PROGRAM EXPENSES

    total $300,003

  • 24d · Other expenses: EDUCATION/SEMINARS

    total $248,337

  • 24e · All other expenses

    total $56,443

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,012,856 · end of year $1,780,550

  • 2 · Savings and temporary cash investments

    beginning of year $2,062,923 · end of year $2,094,715

  • 4 · Accounts receivable

    beginning of year $246,734 · end of year $281,820

  • 9 · Prepaid expenses and deferred charges

    beginning of year $115,300 · end of year $155,185

  • 10a · Land, buildings and equipment: cost or other basis

    $941,253

  • 10b · Land, buildings and equipment: accumulated depreciation

    $414,564

  • 10c · Land, buildings and equipment, net

    beginning of year $595,651 · end of year $526,689

  • 11 · Investments: publicly traded securities

    beginning of year $4,531,110 · end of year $4,816,042

  • 12 · Investments: other securities

    beginning of year -$22,641 · end of year $117,973

  • 15 · Other assets

    beginning of year $1,723,666 · end of year $1,613,654

  • 17 · Accounts payable and accrued expenses

    beginning of year $814,829 · end of year $994,148

  • 19 · Deferred revenue

    beginning of year $2,042,483 · end of year $1,921,463

  • 25 · Other liabilities

    beginning of year $2,410,128 · end of year $2,278,780

  • 27 · Net assets without donor restrictions

    beginning of year $4,597,709 · end of year $5,505,893

  • 28 · Net assets with donor restrictions

    beginning of year $400,450 · end of year $686,344

Mission and programs · 2024

Mission

THE MINNESOTA CHAMBER OF COMMERCE PROACTIVELY LEADS THE BUSINESS COMMUNITY STATEWIDE TO: ADVANCE PRO-BUSINESS, RESPONSIBLE MINNESOTA PUBLIC POLICY THAT CREATES JOBS AND GROWS THE ECONONY; PROVDE MEMBER SERVICES TO ADDRESS EVOLVING BUSINESS NEEDS; BE NON PARTISAN

Activities or mission (Part I)

ADVANCE PUBLIC POLICY & JOB GROWTH STRATEGIES TO CREATE AN ENVIRONMENT FOR BUSINESSES TO PROSPER

  • LEGISLATIVE: TO BE AN ADVOCATE FOR MINNESOTA BUSINESSES BY LOBBYING AT THE STATE CAPITOL, TESTIFYING IN COURTS AND INTERVENING BEFORE STATE REGULATORY AGENCIES. WE ALSO CONDUCT AND SPONSOR A BROAD RANGE OF RESEARCH WHICH SUPPORTS OUR WORK ON SPECIFIC POLICY ISSUES. OBJECTIVE: TO MAKE MINNESOTA A COMPETITIVE PLACE TO DO BUSINESS.MEMBERS SERVED: 6,300

  • GRASSROOTS: TO KEEP OUR MEMBERS INFORMED ON ISSUES THAT MAY AFFECT THEIR BUSINESS. COMMUNICATIONS INCLUDE A MONTHLY NEWSLETTER, BIMONTHLY LEGISLATIVE EMAIL UPDATES, ISSUE ALERTS AND A DAILY E-NEWSLETTER ON CURRENT EVENTS. OBJECTIVE: TO GIVE OUR MEMBERS THE NECESSARY INFORMATION FOR THEM TO CONTACT THEIR LAWMAKERS AND TO KEEP UPDATED ON BUSINESS ISSUES.MEMBERS SERVED: 6,300

  • GROW MINNESOTA!: BUSINESS RETENTION, EXPANSION AND ASSISTANCE. GROW MINNESOTA! IS A PRIVATE-SECTOR INITIATIVE OF THE MINNESOTA CHAMBER OF COMMERCE IN PARTNERSHIP WITH NEARLY 90 LOCAL CHAMBERS AND ECONOMIC DEVELOPMENT ORGANIZATIONS. THE PROGRAM FOCUSES ON RETAINING AND EXPANDING COMPANIES IN MINNESOTA.OBJECTIVE: TO THANK EMPLOYERS FOR THEIR COMMITMENT TO MINNESOTA AND TO ASSIST WITH ISSUES THAT IMPEDE THEIR GROWTH AND PROVIDE SUCH RESOURCES AS THE FUNDING, EXPORTING AND WORKFORCE GUIDEBOOKS.

  • SPECIAL PROGRAMS AND EVENTS: TO EDUCATE OUR MEMBERS ON LEGISLATIVE AND OTHER KEY ISSUES THAT MAY AFFECT THEIR BUSINESS. THESE PROGRAMS ALSO OFFER NETWORKING OPPORTUNITIES AMONG BUSINESS LEADERS. OUR LARGER EVENTS ARE SESSION PRIORITIES, ECONOMIC SUMMIT, WOMEN IN BUSINESS AND BUSINESS DAY AT THE CAPITOL. WE OFFER SMALLER EVENTS SUCH AS WEBINARS AND ISSUE BRIEFINGS. OBJECTIVE: TO GIVE OUR MEMBERS AN OPPORTUNITY TO NETWORK WITH OTHER BUSINESS LEADERS AND TO HEAR FIRST-HAND FROM LAWMAKERS AND OTHER KEY AUTHORITIES ON BUSINESS ISSUES.

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

Listed in Part VII

  • DOUG LOON

    PRESIDENT/CEO

    Total calculated
    $609,763
    From this org
    $580,332
    From related orgs
    $0
    Other
    $29,431
    Hours/week
    29 + 11 related

    Schedule J breakdown matched by us

    Base
    $375,194
    Bonus
    $194,815
    Other
    $10,323
    Deferred
    $20,700
    Nontaxable benefits
    $8,731
    Filer's total
    $609,763

  • JILL BOLLETTIERI

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • BILL KEEGAN

    CHAIR-ELECT

    Total calculated
    $0
    Hours/week
    2

  • ANGELA HEIKES

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    2

  • ROBIN ANTHONY-EVENSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ERIC BLACK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ALYZA BOHBOT JAMES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ASHTON BOON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MELISSA BRINKMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JABARI BUSH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KRISTI CARLSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JACK DAGGETT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LORI DAVIES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LESLIE DOCKAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BRETT EDELSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • VAL FINARTY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KENDALL GRIFFITH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • WILL HALE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • STACIE HOLDEN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • AMBER HOLM

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KALYN HOVE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RYAN JACKSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SANDY KARNOWSKI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RYAN KESSLER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • HEIDI LARSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BROOKE LEE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ERIC LEVENHAGEN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MARY LOEFFELHOLZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LAURA OBERST

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JULIE PIERCE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BART PRINS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TOM RADOVICH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JAKE REINT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KARI RIHM

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • STEVE ROSENAU

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CARLOS SEOANE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BEN THURINGER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • WENDY UNGLAUB

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ROSS WIDMOYER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ANTHONY WILLIAMS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SHANE ZUTZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ANNETTE KOJETIN

    VICE PRESIDENT/CFO

    Total calculated
    $217,186
    From this org
    $194,732
    From related orgs
    $0
    Other
    $22,454
    Hours/week
    27 + 13 related

    Schedule J breakdown matched by us

    Base
    $163,543
    Bonus
    $31,189
    Other
    $0
    Deferred
    $10,174
    Nontaxable benefits
    $12,280
    Filer's total
    $217,186

  • LAURA BORDELON

    SR. VICE PRESIDENT

    Total calculated
    $329,167
    From this org
    $301,512
    From related orgs
    $0
    Other
    $27,655
    Hours/week
    38 + 2 related

    Schedule J breakdown matched by us

    Base
    $240,110
    Bonus
    $51,811
    Other
    $9,591
    Deferred
    $14,953
    Nontaxable benefits
    $12,702
    Filer's total
    $329,167

  • JENNIFER BYERS

    EXEC DIR MN CHAMBER FDN

    Total calculated
    $210,643
    From this org
    $196,791
    From related orgs
    $0
    Other
    $13,852
    Hours/week
    7 + 33 related

    Schedule J breakdown matched by us

    Base
    $174,757
    Bonus
    $20,397
    Other
    $1,637
    Deferred
    $10,550
    Nontaxable benefits
    $3,302
    Filer's total
    $210,643

  • JENNIFER MUNYER

    VICE PRESIDENT

    Total calculated
    $183,387
    From this org
    $171,350
    From related orgs
    $0
    Other
    $12,037
    Hours/week
    35 + 5 related

    Schedule J breakdown matched by us

    Base
    $142,568
    Bonus
    $28,782
    Other
    $0
    Deferred
    $8,739
    Nontaxable benefits
    $3,298
    Filer's total
    $183,387

  • BENTLEY GRAVES

    DIRECTOR

    Total calculated
    $199,508
    From this org
    $179,870
    From related orgs
    $0
    Other
    $19,638
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $170,637
    Bonus
    $9,233
    Other
    $0
    Deferred
    $10,332
    Nontaxable benefits
    $9,306
    Filer's total
    $199,508

  • VICTORIA STUTE

    VICE PRESIDENT

    Total calculated
    $171,053
    From this org
    $160,409
    From related orgs
    $0
    Other
    $10,644
    Hours/week
    12 + 28 related

    Schedule J breakdown matched by us

    Base
    $135,201
    Bonus
    $25,208
    Other
    $0
    Deferred
    $8,304
    Nontaxable benefits
    $2,340
    Filer's total
    $171,053

  • BETH KADOUN

    VICE PRESIDENT

    Total calculated
    $189,436
    From this org
    $163,737
    From related orgs
    $0
    Other
    $25,699
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,188
    Bonus
    $13,549
    Other
    $0
    Deferred
    $9,678
    Nontaxable benefits
    $16,021
    Filer's total
    $189,436

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 4B
DOUG LOON - LTIP, $97,156

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • MINNESOTA CHAMBER BUSINESS SERVICES

    C · MARKET AND PROMOTE PRODUCTS AND SERVICES TO MN CHAMBER MEMBERS · MN · 100% owned · share of income $390,350 · share of assets $185,813 · controlled entity

Provenance

Return type
form_990
Tax year
2024
IRS schema version
2024v5.5
Source object
202612099349301521

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