Civic Intelligence

Duluth Area Chamber of Commerce

990 • Fiscal year 2015 • EIN 41-0225910

Jan 01, 2015 to Dec 31, 2015 • Filed on Jun 30, 2016

5 West 1st Street Rm/Ste 101Duluth, MN 55802

(218) 722-5501

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

43rd percentile

0.14x

Higher debt load relative to assets than 43% of similar nonprofits.

2015 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

39th percentile

0.11x

Higher debt load relative to revenue than 39% of similar nonprofits.

2015 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2015

Net Margin

54th percentile

4.3%

Higher net margin than 54% of similar nonprofits.

2015 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

71st percentile

$198,256

Higher top officer pay than 71% of similar nonprofits.

Top officer pay equals 15.7% of source-year revenue.

2015 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2015

Asset Growth

55th percentile

3.8%

Faster asset growth than 55% of similar nonprofits.

2015 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

43rd percentile

1.9%

Faster revenue growth than 43% of similar nonprofits.

2015 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Assets

Up

$1,022,414

Up $37,573 (+3.8%) from 2014

Net Assets

Up

$878,018

Up $53,677 (+6.5%) from 2014

Liabilities

Down

$144,396

Down $16,104 (-10%) from 2014

Revenue

Up

$1,261,484

Up $23,273 (+1.9%) from 2014

Expenses

Up

$1,207,807

Up $45,894 (+3.9%) from 2014

Net Income

Down

$53,677

Down $22,621 (-30%) from 2014

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0Assets 2011: $962,443Liabilities 2011: $271,828Net Assets 2011: $690,6152011Assets 2012: $957,355Liabilities 2012: $233,690Net Assets 2012: $723,6652012Assets 2013: $921,176Liabilities 2013: $173,133Net Assets 2013: $748,0432013Assets 2014: $984,841Liabilities 2014: $160,500Net Assets 2014: $824,3412014Assets 2015: $1,022,414Liabilities 2015: $144,396Net Assets 2015: $878,0182015Assets 2016: $1,113,881Liabilities 2016: $154,043Net Assets 2016: $959,8382016Assets 2017: $1,247,848Liabilities 2017: $218,789Net Assets 2017: $1,029,0592017Assets 2018: $1,113,464Liabilities 2018: $404,420Net Assets 2018: $709,0442018Assets 2019: $1,036,086Liabilities 2019: $355,653Net Assets 2019: $680,4332019Assets 2020: $1,226,417Liabilities 2020: $284,697Net Assets 2020: $941,7202020Assets 2021: $1,263,625Liabilities 2021: $270,778Net Assets 2021: $992,8472021Assets 2022: $1,181,414Liabilities 2022: $287,898Net Assets 2022: $893,5162022Assets 2023: $1,344,616Liabilities 2023: $614,036Net Assets 2023: $730,5802023Assets 2024: $1,282,973Liabilities 2024: $620,809Net Assets 2024: $662,1642024

Highlighted filing

2015

Assets$1,022,414
Liabilities$144,396
Net Assets$878,018

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2011: $1,097,425Expenses 2011: $1,093,552Net Income 2011: $3,8732011Expenses 2012: $1,102,3202012Revenue 2013: $1,166,108Expenses 2013: $1,141,730Net Income 2013: $24,3782013Revenue 2014: $1,238,211Expenses 2014: $1,161,913Net Income 2014: $76,2982014Revenue 2015: $1,261,484Expenses 2015: $1,207,807Net Income 2015: $53,6772015Revenue 2016: $1,191,148Expenses 2016: $1,109,328Net Income 2016: $81,8202016Revenue 2017: $1,216,072Expenses 2017: $1,146,851Net Income 2017: $69,2212017Revenue 2018: $1,116,490Expenses 2018: $1,436,505Net Income 2018: -$320,0152018Revenue 2019: $1,146,956Expenses 2019: $1,175,567Net Income 2019: -$28,6112019Revenue 2020: $1,199,187Expenses 2020: $970,450Net Income 2020: $228,7372020Revenue 2021: $1,040,213Expenses 2021: $989,086Net Income 2021: $51,1272021Revenue 2022: $1,093,913Expenses 2022: $1,193,244Net Income 2022: -$99,3312022Revenue 2023: $1,198,550Expenses 2023: $1,203,422Net Income 2023: -$4,8722023Revenue 2024: $1,283,261Expenses 2024: $1,351,677Net Income 2024: -$68,4162024

Highlighted filing

2015

Revenue$1,261,484
Expenses$1,207,807
Net Income$53,677
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Jun 30, 2016
Return Version
2015v2.1
Gross Receipts
$1,261,484
Mission and Program Overview

Mission

Promote economic development and business relationships in the duluth area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$768,103$675,321▼ $92,782
Cash and Non-Interest-Bearing Accounts$83,443$174,426▲ $90,983
Accounts Receivable$83,822$128,662▲ $44,840
Prepaid Expenses and Deferred Charges$21,666$25,246▲ $3,580
Land, Buildings, and Equipment, Net$27,807$18,759▼ $9,048
Total Assets$984,841$1,022,414▲ $37,573
Liabilities
Deferred Revenue$133,075$125,923▼ $7,152
Accounts Payable and Accrued Expenses$27,425$18,473▼ $8,952
Total Liabilities$160,500$144,396▼ $16,104
Net Assets / Fund Balance
Unrestricted Net Assets$824,341$878,018▲ $53,677
Total Net Assets Fund Balance$824,341$878,018▲ $53,677
Total Liabilities and Net Assets / Fund Balance$984,841$1,022,414▲ $37,573

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$18,759$297,577$316,336
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
David RossPresidentFT$148,956$49,300$198,256
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$472,044
Investment Income
$2,851
Other Revenue
$786,589
Change in Net Assets
$53,677
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$620,974
Other Expenses$586,833
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$288,588
Current Officers, Directors, Trustees, and Key Employees---$186,456
All Other Expenses---$170,100
Other Employee Benefits---$71,868
Fees for Services Accounting---$57,839
Other Expenses---$45,241
Pension Plan Contributions---$37,642
Payroll Taxes---$36,420
Occupancy---$29,810
Travel---$13,353
Depreciation Depletion---$12,982
Insurance---$6,673
Advertising---$6,245
Total Functional Expenses$0$0$0$1,207,807
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

990 was reviewed by board at meeting prior to submission.

Form 990, Page 6, Part VI, Line 12C

Conflict of interest reviewed annually with board.

Form 990, Page 6, Part VI, Line 15A

Compensation of executive director reviewed by board and compared to other comparable organizations.

Form 990, Page 6, Part VI, Line 19

Documents available upon request.

Filing and Contact Details

Filer

Filer Name
Duluth Area Chamber of Commerce
EIN
41-0225910
Phone
2187225501
Address
5 WEST 1ST STREET RM/STE 101, DULUTH, MN 55802

Signing Officer

Name
Gary Bubalo
Title
Chair
Phone
2187225501
Signed
2016-06-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gary Bubalo
Formed
1970
Legal Domicile
Mn
Voting Board Members
24
Independent Board Members
24
Employees
13

Preparer

Firm
Licari Larsen and Company
Address
130 W SUPERIOR ST STE 712, DULUTH, MN 55802
Preparer
Steven S Licari
Phone
2187222226
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

Cogs 39,737 0 0 duluth/st. Louis county 26,553 0 0 activities/committees 24,706 0 0 leadership duluth 23,195 0 0 computer support 12,303 0 0 simulcast 10,744 0 0 apex expenses 10,000 0 0 telephone 8,265 0 0 building expenses 7,384 0 0 dues and subscriptions 7,213 0 0

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IRS990/LoanOutstandingInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MiscellaneousRevenueGrp/RelatedOrExemptFuncIncomeAmt07519
IRS990/MiscellaneousRevenueGrp/TotalRevenueColumnAmt07519
IRS990/MissionDesc0PROMOTE ECONOMIC DEVELOPMENT AND BUSINESS RELATIONSHIPS IN THE DULUTH AREA.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt0824341
IRS990/NetAssetsOrFundBalancesEOYAmt0878018
IRS990/NetUnrelatedBusTxblIncmAmt011928
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt029810
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherEmployeeBenefitsGrp/TotalAmt071868
IRS990/OtherExpensesGrp/Desc0MEMBER SERVICES
IRS990/OtherExpensesGrp/Desc1READERSHIP COSTS
IRS990/OtherExpensesGrp/Desc2FUSE DULUTH
IRS990/OtherExpensesGrp/Desc3ADMINISTRATIVE
IRS990/OtherExpensesGrp/TotalAmt0107270
IRS990/OtherExpensesGrp/TotalAmt184442
IRS990/OtherExpensesGrp/TotalAmt252878
IRS990/OtherExpensesGrp/TotalAmt345241
IRS990/OtherRevenueMiscGrp/BusinessCd0541800
IRS990/OtherRevenueMiscGrp/Desc0BUSINESS PROGRAMS
IRS990/OtherRevenueMiscGrp/Desc1SPECIAL EVENTS
IRS990/OtherRevenueMiscGrp/Desc2ADVERTISING
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0383584
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt1258379
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt254094
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0383584
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt1258379
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt2137107
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt083013
IRS990/OtherRevenueTotalAmt0786589
IRS990/OtherSalariesAndWagesGrp/TotalAmt0288588
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/TotalAmt036420
IRS990/PensionPlanContributionsGrp/TotalAmt037642
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt021666
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt025246
IRS990/PrincipalOfficerNm0GARY BUBALO
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0MEMBERSHIP DUES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0472044
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0472044
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYInvestmentIncomeAmt03464
IRS990/PYOtherExpensesAmt0558937
IRS990/PYOtherRevenueAmt0766102
IRS990/PYProgramServiceRevenueAmt0468645
IRS990/PYRevenuesLessExpensesAmt076298
IRS990/PYSalariesCompEmpBnftPaidAmt0602976
IRS990/PYTotalExpensesAmt01161913
IRS990/PYTotalRevenueAmt01238211
IRS990/ReconcilationRevenueExpnssAmt053677
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0768103
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0675321
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt018759
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0297577
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0316336
IRS990ScheduleD/TotalBookValueLandBuildingsAmt018759
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0148956
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount037500
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt04800
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt07000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0DAVID ROSS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0198256
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0990 WAS REVIEWED BY BOARD AT MEETING PRIOR TO SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1CONFLICT OF INTEREST REVIEWED ANNUALLY WITH BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPENSATION OF EXECUTIVE DIRECTOR REVIEWED BY BOARD AND COMPARED TO OTHER COMPARABLE ORGANIZATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COGS 39,737 0 0 DULUTH/ST. LOUIS COUNTY 26,553 0 0 ACTIVITIES/COMMITTEES 24,706 0 0 LEADERSHIP DULUTH 23,195 0 0 COMPUTER SUPPORT 12,303 0 0 SIMULCAST 10,744 0 0 APEX EXPENSES 10,000 0 0 TELEPHONE 8,265 0 0 BUILDING EXPENSES 7,384 0 0 DUES AND SUBSCRIPTIONS 7,213 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 24E
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0984841
IRS990/TotalAssetsEOYAmt01022414
IRS990/TotalAssetsGrp/BOYAmt0984841
IRS990/TotalAssetsGrp/EOYAmt01022414
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalEmployeeCnt013
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt01207807
IRS990/TotalGrossUBIAmt083013
IRS990/TotalLiabilitiesBOYAmt0160500
IRS990/TotalLiabilitiesEOYAmt0144396
IRS990/TotalLiabilitiesGrp/BOYAmt0160500
IRS990/TotalLiabilitiesGrp/EOYAmt0144396
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0824341
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0878018
IRS990/TotalOtherCompensationAmt011800
IRS990/TotalProgramServiceRevenueAmt0472044
IRS990/TotalReportableCompFromOrgAmt0186456
IRS990/TotalRevenueGrp/ExclusionAmt02851
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01175620
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01261484
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt083013
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0984841
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01022414
IRS990/TravelGrp/TotalAmt013353
IRS990/TypeOfOrganizationAssocInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0824341
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0878018
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt05 WEST FIRST STREET
IRS990/USAddress/CityNm0DULUTH
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055802
IRS990/VotingMembersGoverningBodyCnt024
IRS990/VotingMembersIndependentCnt024
IRS990/WhistleblowerPolicyInd0true

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.28$0.62$0.66$1.28$1.35$0.07
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.34$0.61$0.73$1.20$1.20$0.00
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.18$0.29$0.89$1.09$1.19$0.10
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.26$0.27$0.99$1.04$0.99$0.05
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.23$0.28$0.94$1.20$0.97$0.23
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.04$0.36$0.68$1.15$1.18$0.03
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.11$0.40$0.71$1.12$1.44$0.32
2017Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$1.25$0.22$1.03$1.22$1.15$0.07
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.11$0.15$0.96$1.19$1.11$0.08
2015Detailed filing. Detailed filing data is available for this year.$1.02$0.14$0.88$1.26$1.21$0.05
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.98$0.16$0.82$1.24$1.16$0.08
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$0.92$0.17$0.75$1.17$1.14$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.96$0.23$0.72$1.10
2011Summary only. Only limited summary data is available for this year.$0.96$0.27$0.69$1.10$1.09$0.00