Civic Intelligence

Ely Chamber of Commerce

990 • Fiscal year 2013 • EIN 41-0237425

Jul 01, 2012 to Jun 30, 2013 • Filed on Dec 19, 2013

Organization Profilewww.ely.org
1600 East Sheridan StreetEly, MN 55731
Siviq Scores

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

Liabilities / Assets

25th percentile

0.01x

Higher debt load relative to assets than 25% of similar nonprofits.

2013 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2013

Liabilities / Revenue

24th percentile

0.00x

Higher debt load relative to revenue than 24% of similar nonprofits.

2013 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2013

Net Margin

25th percentile

-3.0%

Higher net margin than 25% of similar nonprofits.

2013 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2013

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2013

Asset Growth

55th percentile

5.5%

Faster asset growth than 55% of similar nonprofits.

2013 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Balance Sheet
Liabilities / Assets25th percentile

Assets

Up

$511,389

Up $26,877 (+5.5%) from 2012

Net Assets

Up

$508,800

Up $26,681 (+5.5%) from 2012

Liabilities

Up

$2,589

Up $196 (+8.2%) from 2012

Revenue And Expenses
Liabilities / Revenue24th percentileNet Margin25th percentile

Revenue

$526,251

No earlier filing loaded for comparison.

Expenses

Down

$542,207

Down $86,912 (-14%) from 2012

Net Income

-$15,956

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth55th percentile

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

$800K$600K$400K$200K$0Assets 2012: $484,512Liabilities 2012: $2,393Net Assets 2012: $482,1192012Assets 2013: $511,389Liabilities 2013: $2,589Net Assets 2013: $508,8002013Assets 2014: $492,772Liabilities 2014: $2,778Net Assets 2014: $489,9942014Assets 2015: $534,171Liabilities 2015: $20,673Net Assets 2015: $513,4982015Assets 2016: $606,028Liabilities 2016: $38,757Net Assets 2016: $567,2712016Assets 2017: $621,615Liabilities 2017: $38,398Net Assets 2017: $583,2172017Assets 2018: $563,759Liabilities 2018: $50,067Net Assets 2018: $513,6922018Assets 2019: $608,176Liabilities 2019: $24,569Net Assets 2019: $583,6072019Assets 2020: $389,897Liabilities 2020: $10,855Net Assets 2020: $379,0422020Assets 2021: $481,381Liabilities 2021: $64,814Net Assets 2021: $416,5672021Assets 2022: $405,474Liabilities 2022: $57,711Net Assets 2022: $347,7632022Assets 2023: $318,794Liabilities 2023: $132,857Net Assets 2023: $185,9372023Assets 2024: $214,282Liabilities 2024: $118,388Net Assets 2024: $95,8942024Assets 2025: $185,572Liabilities 2025: $129,126Net Assets 2025: $56,4462025

Highlighted filing

2013

Assets$511,389
Liabilities$2,589
Net Assets$508,800
Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.0M$500K$0-$500KExpenses 2012: $629,1192012Revenue 2013: $526,251Expenses 2013: $542,207Net Income 2013: -$15,9562013Revenue 2014: $562,707Expenses 2014: $642,378Net Income 2014: -$79,6712014Revenue 2015: $625,592Expenses 2015: $592,127Net Income 2015: $33,4652015Revenue 2016: $602,223Expenses 2016: $533,406Net Income 2016: $68,8172016Revenue 2017: $616,801Expenses 2017: $594,597Net Income 2017: $22,2042017Revenue 2018: $606,767Expenses 2018: $695,680Net Income 2018: -$88,9132018Revenue 2019: $580,157Expenses 2019: $510,242Net Income 2019: $69,9152019Revenue 2020: $566,893Expenses 2020: $765,070Net Income 2020: -$198,1772020Revenue 2021: $156,448Expenses 2021: $200,492Net Income 2021: -$44,0442021Revenue 2022: $237,179Expenses 2022: $305,983Net Income 2022: -$68,8042022Revenue 2023: $194,126Expenses 2023: $343,010Net Income 2023: -$148,8842023Revenue 2024: $224,560Expenses 2024: $315,202Net Income 2024: -$90,6422024Revenue 2025: $237,425Expenses 2025: $294,876Net Income 2025: -$57,4512025

Highlighted filing

2013

Revenue$526,251
Expenses$542,207
Net Income-$15,956
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2012 to Jun 30, 2013
Signed
Dec 19, 2013
Return Version
2012v2.0
Gross Receipts
$530,700
Mission and Program Overview

Mission

To promote tourism with economic, civil, and social welfare of the people of the Ely area as a goal.

Major Activities

Activity 2
Two separtate festivals are held on an annual basis and are open to the public. Approximately 45,000 attendees this past year.
Activity 3
Services are provided to the Organization's 300 members and numerous community residents, with the primary service being advertising to promote the area.
Filing and Contact Details

Filer

EIN
41-0237425
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IRS990ScheduleO/GeneralExplanation/Explanation0AVAILABLE UPON REQUEST.
IRS990ScheduleO/GeneralExplanation/Explanation1Board of directors reviewed and documented similar salary ranges prior to hiring new executive director.
IRS990ScheduleO/GeneralExplanation/Explanation2Continual review of any conflicts, or potential conflicts, are addressed by the board.
IRS990ScheduleO/GeneralExplanation/Explanation3NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/GeneralExplanation/Explanation4See above (line 7a).
IRS990ScheduleO/GeneralExplanation/Explanation5NOMINATING COMMITTEE: The Board shall appoint to serve as a Nominating Committee two (2) board Members whose terms of office are not currently expiring, and three (3) active members of the corporation not serving on its Board of Directors. It shall be the duty of such Committee to recommend and present to the Board a slate of nominees as candidates for election to the Board of Directors to fill the vacancies occurring thereon by expiration of terms. Such Committee shall name not less than one (1) nominee for each such occurring vacancy.BALLOTS: The ballots shall be officially approved by the Board of Directors. Blank spaces for write -in candidates must equal the number of nominations for each category. The ballots shall be mailed out by the Secretary of the current Board at least 10 days prior to the election. A return self-address envelop shall be included with each ballot. The return address shall be an impartial agency or auditor to tally such ballots and shall over his signature disclose to the Board the results hereof and such results shall be made known by the Board by proper report.DIRECTORS: Each Director shall be elected by a majority of the votes cast by the Active Members, in their category, except as otherwise provided under Article 3 of these By-Laws. In the event of any tie vote occurring where balloting has been conducted by mail, the remaining members of the Board of Directors shall cast their ballots until such tie is broken and the vacancy filled.
IRS990ScheduleO/GeneralExplanation/Explanation6ACTIVE MEMBERSHIP: Any person, natural or legal, who in doing business for profit in the trade area of Ely, Minnesota and shares a common concern for the economic, civic, commercial and social welfare of the Ely area, and who shall be declared eligible to active membership and subject to the acceptance of the board of directors shall be eligible for active membership in this corporation.SPONSORING MEMBERSHIP: Any person, natural or legal, who shall submit to the purpose and support the activities to this corporation shall be eligible for sponsoring memberships in this corporation. Sponsoring membership includes non-profit businesses, clubs, organizations, and for-profit businesses that do not have a physical location in Ely but sell goods and services to the Ely area. The board of directors, from time to time, may create such classes of sponsoring memberships as it deems in the best interest of the corporation and establish the privileges, rights and obligations of such sponsoring memberships, provided however, that no such sponsoring memberships shall be entitled to vote in the affairs of the corporation
IRS990ScheduleO/GeneralExplanation/Identifier0Form 990, Part VI, Line 19
IRS990ScheduleO/GeneralExplanation/Identifier1Form 990, Part VI, Line 15a
IRS990ScheduleO/GeneralExplanation/Identifier2Form 990, Part VI, Line 12c
IRS990ScheduleO/GeneralExplanation/Identifier3Form 990, Part VI, Line 11b
IRS990ScheduleO/GeneralExplanation/Identifier4Form 990, Part VI, Line 7b
IRS990ScheduleO/GeneralExplanation/Identifier5Form 990, Part VI, Line 7a
IRS990ScheduleO/GeneralExplanation/Identifier6Form 990, Part VI, Line 6
IRS990ScheduleO/GeneralExplanation/ReturnReference0Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/GeneralExplanation/ReturnReference1Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/GeneralExplanation/ReturnReference2Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/GeneralExplanation/ReturnReference3Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/GeneralExplanation/ReturnReference4Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders
IRS990ScheduleO/GeneralExplanation/ReturnReference5Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body
IRS990ScheduleO/GeneralExplanation/ReturnReference6Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder
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IRS990/TotalAssetsEOY0511389
IRS990/TotalCompGT150K0false
IRS990/TotalContributions06003
IRS990/TotalExpensesCurrentYear0542207
IRS990/TotalExpensesPriorYear0629119
IRS990/TotalFunctionalExpenses/Fundraising00
IRS990/TotalFunctionalExpenses/ManagementAndGeneral00
IRS990/TotalFunctionalExpenses/ProgramServices00
IRS990/TotalFunctionalExpenses/Total0542207
IRS990/TotalFundrsngExpCurrentYear00
IRS990/TotalGrossUBI074127
IRS990/TotalLiabilities/BOY02393
IRS990/TotalLiabilitiesBOY02393
IRS990/TotalLiabilities/EOY02589
IRS990/TotalLiabilitiesEOY02589
IRS990/TotalLiabNetAssetsFundBalances/BOY0484512
IRS990/TotalLiabNetAssetsFundBalances/EOY0511389
IRS990/TotalNbrEmployees08
IRS990/TotalNbrVolunteers050
IRS990/TotalNetAssetsFundBalances/BOY0482119
IRS990/TotalNetAssetsFundBalances/EOY0508800
IRS990/TotalOtherCompensation02025
IRS990/TotalOtherRevenue017936
IRS990/TotalProfFundrsngExpCY00
IRS990/TotalProgramServiceRevenue0493040
IRS990/TotalReportableCompFromOrg067500
IRS990/TotalRevenueCurrentYear0526251
IRS990/TotalRevenue/ExclusionAmount011178
IRS990/TotalRevenuePriorYear0586896
IRS990/TotalRevenue/RelatedOrExemptFunctionIncome0434943
IRS990/TotalRevenue/TotalRevenueColumn0526251
IRS990/TotalRevenue/UnrelatedBusinessRevenue074127
IRS990/TransactionRelatedEntity0false
IRS990/TransfersToExemptNonChrtblOrg0false
IRS990/TravelEntrtnmntPublicOfficials/Total00
IRS990/Travel/Total01053
IRS990/TypeOfOrganizationCorporation0X
IRS990/UnrelatedBusinessIncome0true
IRS990/UnrestrictedNetAssets/BOY0482119
IRS990/UnrestrictedNetAssets/EOY0508800
IRS990/UponRequest0X
IRS990/WebSite0www.ely.org
IRS990/WhistleblowerPolicy0false
ReturnHeader/BuildTS02016-03-07 17:11:31Z

Document Assets

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Filings

Displayed year

2013 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$511,389
Liabilities
$2,589
Net assets
$508,800
Revenue
$526,251
Expenses
$542,207
Net income
-$15,956
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.86$1.29$0.56$2.37$2.95$0.57
2024Detailed filing. Detailed filing data is available for this year.$2.14$1.18$0.96$2.25$3.15$0.91
2023Detailed filing. Detailed filing data is available for this year.$3.19$1.33$1.86$1.94$3.43$1.49
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.05$0.58$3.48$2.37$3.06$0.69
2021Detailed filing. Detailed filing data is available for this year.$4.81$0.65$4.17$1.56$2.00$0.44
2020Detailed filing. Detailed filing data is available for this year.$3.90$0.11$3.79$5.67$7.65$1.98
2019Detailed filing. Detailed filing data is available for this year.$6.08$0.25$5.84$5.80$5.10$0.70
2018Detailed filing. Detailed filing data is available for this year.$5.64$0.50$5.14$6.07$6.96$0.89
2017Detailed filing. Detailed filing data is available for this year.$6.22$0.38$5.83$6.17$5.95$0.22
2016Detailed filing. Detailed filing data is available for this year.$6.06$0.39$5.67$6.02$5.33$0.69
2015Detailed filing. Detailed filing data is available for this year.$5.34$0.21$5.13$6.26$5.92$0.33
2014Detailed filing. Detailed filing data is available for this year.$4.93$0.03$4.90$5.63$6.42$0.80
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.11$0.03$5.09$5.26$5.42$0.16
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.85$0.02$4.82$6.29