Civic Intelligence

Faribault Chamber of Commerce Inc

990 • Fiscal year 2016 • EIN 41-0246230

Jan 01, 2016 to Dec 31, 2016 • Filed on Jul 17, 2017

Organization ProfileWWW.FARIBAULTMN.ORG
530 Wilson AveFaribault, MN 55021

(507) 334-4381

Siviq Scores

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

Liabilities / Assets

56th percentile

0.12x

Higher debt load relative to assets than 56% of similar nonprofits.

2016 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

60th percentile

0.13x

Higher debt load relative to revenue than 60% of similar nonprofits.

2016 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2016

Net Margin

29th percentile

-1.6%

Higher net margin than 29% of similar nonprofits.

2016 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

66th percentile

$93,471

Higher top officer pay than 66% of similar nonprofits.

Top officer pay equals 16.3% of source-year revenue.

2016 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2016

Asset Growth

31st percentile

-2.3%

Faster asset growth than 31% of similar nonprofits.

2016 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Revenue Growth

57th percentile

5.4%

Faster revenue growth than 57% of similar nonprofits.

2016 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets56th percentile

Assets

Down

$610,307

Down $14,312 (-2.3%) from 2015

Net Assets

Down

$536,274

Down $18,167 (-3.3%) from 2015

Liabilities

Up

$74,033

Up $3,855 (+5.5%) from 2015

Revenue And Expenses
Liabilities / Revenue60th percentileNet Margin29th percentile

Revenue

Up

$573,110

Up $29,227 (+5.4%) from 2015

Expenses

Up

$582,078

Up $20,682 (+3.7%) from 2015

Net Income

Up

-$8,968

Up $8,545 (+49%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth31st percentile

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

$800K$600K$400K$200K$0Assets 2010: $630,596Liabilities 2010: $71,194Net Assets 2010: $559,4022010Assets 2011: $647,528Liabilities 2011: $71,475Net Assets 2011: $576,0532011Assets 2012: $668,242Liabilities 2012: $89,375Net Assets 2012: $578,8672012Assets 2013: $652,473Liabilities 2013: $71,055Net Assets 2013: $581,4182013Assets 2014: $630,709Liabilities 2014: $58,755Net Assets 2014: $571,9542014Assets 2015: $624,619Liabilities 2015: $70,178Net Assets 2015: $554,4412015Assets 2016: $610,307Liabilities 2016: $74,033Net Assets 2016: $536,2742016Assets 2017: $621,781Liabilities 2017: $95,404Net Assets 2017: $526,3772017Assets 2018: $490,647Liabilities 2018: $16,478Net Assets 2018: $474,1692018Assets 2019: $450,176Liabilities 2019: $30,515Net Assets 2019: $419,6612019Assets 2020: $400,183Liabilities 2020: $61,281Net Assets 2020: $338,9022020Assets 2021: $392,255Liabilities 2021: $36,699Net Assets 2021: $355,5562021Assets 2022: $480,702Liabilities 2022: $139,011Net Assets 2022: $341,6912022Assets 2023: $601,222Liabilities 2023: $363,647Net Assets 2023: $237,5752023

Highlighted filing

2016

Assets$610,307
Liabilities$74,033
Net Assets$536,274
Open 2016 Filing

Operations Trend

Revenue Growth57th percentile

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

$1.0M$500K$0-$500KExpenses 2010: $409,5782010Expenses 2011: $454,4612011Expenses 2012: $502,7412012Revenue 2013: $516,395Expenses 2013: $513,844Net Income 2013: $2,5512013Revenue 2014: $510,539Expenses 2014: $520,003Net Income 2014: -$9,4642014Revenue 2015: $543,883Expenses 2015: $561,396Net Income 2015: -$17,5132015Revenue 2016: $573,110Expenses 2016: $582,078Net Income 2016: -$8,9682016Revenue 2017: $631,092Expenses 2017: $640,989Net Income 2017: -$9,8972017Revenue 2018: $567,687Expenses 2018: $619,895Net Income 2018: -$52,2082018Revenue 2019: $525,969Expenses 2019: $580,477Net Income 2019: -$54,5082019Revenue 2020: $481,581Expenses 2020: $562,340Net Income 2020: -$80,7592020Revenue 2021: $555,327Expenses 2021: $538,673Net Income 2021: $16,6542021Revenue 2022: $603,258Expenses 2022: $617,123Net Income 2022: -$13,8652022Revenue 2023: $901,233Expenses 2023: $988,548Net Income 2023: -$87,3152023

Highlighted filing

2016

Revenue$573,110
Expenses$582,078
Net Income-$8,968
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Jul 17, 2017
Return Version
2016v3.0
Gross Receipts
$580,862
Mission and Program Overview

Mission

Promote the faribault area to tourists and potential businesses and to bring local business owners together.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$353,297$339,076▼ $14,221
Cash and Non-Interest-Bearing Accounts$237,196$225,775▼ $11,421
Prepaid Expenses and Deferred Charges$17,440$38,184▲ $20,744
Accounts Receivable$5,072$4,857▼ $215
Inventories for Sale or Use$2,415$2,415→ $0
Total Assets$615,420$610,307▼ $5,113
Liabilities
Deferred Revenue$66,545$70,384▲ $3,839
Other Liabilities$3,548$3,649▲ $101
Accounts Payable and Accrued Expenses$85--
Total Liabilities$70,178$74,033▲ $3,855
Net Assets / Fund Balance
Unrestricted Net Assets$532,808$513,733▼ $19,075
Temporarily Rstr Net Assets$12,434$22,541▲ $10,107
Total Net Assets Fund Balance$545,242$536,274▼ $8,968
Total Liabilities and Net Assets / Fund Balance$615,420$610,307▼ $5,113

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$289,637$222,117$511,754
Other Land Buildings$0$153,834$153,834
Land$49,439-$49,439
Compensation and Service Providers
Top Officer Pay66th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kymn AndersonPresidentFT$91,088$2,383$93,471

Board Members and Trustees

NameTitle
Joe CullinanChair
Nate ChappuisChair Elect
Rod GramsePast Chair
Annette ParkerDirector
Bart JacksonDirector
Dan HedgeDirector
Heidi NelsonDirector
Marsha NewmanDirector
Paul SwensonDirector
Stephen PribylDirector
Steve BortzDirector
Matthew CarlanderTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$363,324
Program Service Revenue
$92,850
Investment Income
$241
Other Revenue
$116,695
All Other Contributions
$47,005
Change in Net Assets
$-8,968
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$364,236
Salaries, Compensation, and Employee Benefits$217,842
Total Fundraising Expense$2,217
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$130,862$43,621-$174,483
Other Expenses$53,145-$2,217$53,145
All Other Expenses$48,587--$48,587
Occupancy$27,352$9,117-$36,469
Office Expenses$19,180--$19,180
Payroll Taxes$14,162$4,721-$18,883
Other Employee Benefits$14,114$4,705-$18,819
Depreciation Depletion$14,221--$14,221
Information Technology$5,655$5,655-$11,310
Pension Plan Contributions$4,243$1,414-$5,657
Insurance$2,428$2,427-$4,855
Advertising$3,110--$3,110
Fees for Services Accounting-$1,500-$1,500
Interest-$5-$5
Total Functional Expenses$506,696$73,165$2,217$582,078
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll Liabilities$1,910
Ambassador Jackets$1,270
Toastmaster$359
Accrued Income Tax$110
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The tax return is provided to the organization's director and then reviewed with the board members.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents available to the public upon request at the chamber office.”

Filing and Contact Details

Filer

Filer Name
Faribault Chamber of Commerce
EIN
41-0246230
Phone
5073344381
Address
530 WILSON AVE, FARIBAULT, MN 55021

Signing Officer

Name
Kymn Anderson
Title
Director
Phone
5073344381
Signed
2017-07-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kymn Anderson
Formed
1942
Legal Domicile
Mn
Voting Board Members
13
Independent Board Members
13
Employees
10
Volunteers
0

Preparer

Firm
Judd Ostermann & Demro Ltd
Address
2209 BARD AVENUE, FARIBAULT, MN 55021-9235
Preparer
Gary Demro
Phone
5073345516
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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1541800
IRS990/ProgramServiceRevenueGrp/Desc0SPECIAL EVENTS
IRS990/ProgramServiceRevenueGrp/Desc1ADVERTISING
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt079324
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt079324
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt113526
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt013526
IRS990/ProgSrvcAccomActy2Grp/Desc0TOURISM: THE TOURISM COMMITTEE IS A DIVISION OF THE FARIBAULT CHAMBER OF COMMERCE, ORGANIZED TO ENHANCE THE LOCAL ECONOMY BY ATTRACTING VISITORS THROUGH MULTIMEDIA PROMOTIONS, CONVENTIONS, TRAVEL SHOWS AND PUBLICATIONS.
IRS990/ProgSrvcAccomActy3Grp/Desc0EVENTS: THE CHAMBER PRODUCES A NUMBER OF EVENTS EACH YEAR, BRINGING MEMBERS TOGETHER FOR NETWORKING, RECOGNITION AND ENJOYMENT. FOR EVERY EVENT A MEMBER TASK FORCE LEADS THE WAY IN PLANNING, EXECUTION AND EVALUATION. MEMBERS CAN JOIN AN EVENT TASK FORCE TO HELP PLAN THE CHAMBER BUSINESS EXPO, TASTE OF FARIBAULT, GOLF OUTING, ANNUAL GALA OR THE BUSINESS AWARDS LUCHEON.
IRS990/ProgSrvcAccomActyOtherGrp/Desc0PROMOTE THE FARIBAULT AREA TO TOURISTS AND POTENTIAL BUSINESSES AND TO BRING LOCAL BUSINESS OWNERS TOGETHER.
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt0506696
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0126584
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0467
IRS990/PYOtherExpensesAmt0332820
IRS990/PYOtherRevenueAmt0101853
IRS990/PYProgramServiceRevenueAmt0314979
IRS990/PYRevenuesLessExpensesAmt0-17513
IRS990/PYSalariesCompEmpBnftPaidAmt0228576
IRS990/PYTotalExpensesAmt0561396
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0543883
IRS990/ReconcilationRevenueExpnssAmt0-8968
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RelatedOrganizationsAmt094393
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0289637
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0222117
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0511754
IRS990ScheduleD/LandGrp/BookValueAmt049439
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt049439
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0153834
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0153834
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01910
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt11270
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2359
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt3110
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PAYROLL LIABILITIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1AMBASSADOR JACKETS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2TOASTMASTER
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3ACCRUED INCOME TAX
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0339076
IRS990ScheduleD/TotalLiabilityAmt03649
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE TAX RETURN IS PROVIDED TO THE ORGANIZATION'S DIRECTOR AND THEN REVIEWED WITH THE BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST AT THE CHAMBER OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt012434
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt022541
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0615420
IRS990/TotalAssetsEOYAmt0610307
IRS990/TotalAssetsGrp/BOYAmt0615420
IRS990/TotalAssetsGrp/EOYAmt0610307
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0363324
IRS990/TotalEmployeeCnt010
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt02217
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt073165
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0506696
IRS990/TotalFunctionalExpensesGrp/TotalAmt0582078
IRS990/TotalGrossUBIAmt013526
IRS990/TotalLiabilitiesBOYAmt070178
IRS990/TotalLiabilitiesEOYAmt074033
IRS990/TotalLiabilitiesGrp/BOYAmt070178
IRS990/TotalLiabilitiesGrp/EOYAmt074033
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0545242
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0536274
IRS990/TotalOtherCompensationAmt02383
IRS990/TotalOtherProgSrvcExpenseAmt0506696
IRS990/TotalProgramServiceExpensesAmt0506696
IRS990/TotalProgramServiceRevenueAmt092850
IRS990/TotalReportableCompFromOrgAmt091088
IRS990/TotalRevenueGrp/ExclusionAmt0241
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0196019
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0573110
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt013526
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0615420
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0610307
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd01
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0532808
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0513733
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0530 WILSON AVE
IRS990/USAddress/CityNm0FARIBAULT
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055021
IRS990/VotingMembersGoverningBodyCnt013
IRS990/VotingMembersIndependentCnt013
IRS990/WebsiteAddressTxt0HTTP://WWW.FARIBAULTMN.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0KYMN ANDERSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum05073344381
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-07-17
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FARIBAULT CHAMBER OF COMMERCE
ReturnHeader/Filer/BusinessNameControlTxt0FARI
ReturnHeader/Filer/EIN0410246230
ReturnHeader/Filer/PhoneNum05073344381
ReturnHeader/Filer/USAddress/AddressLine1Txt0530 WILSON AVE
ReturnHeader/Filer/USAddress/CityNm0FARIBAULT
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055021
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId063179F8B45A61E353DDD470A742758E8FD5F9699
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0DB4E9E99DB37210667F90050D13328906349C529
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt024.159.209.230
ReturnHeader/FilingSecurityInformation/IPDt02017-07-17
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$610,307
Liabilities
$74,033
Net assets
$536,274
Revenue
$573,110
Expenses
$582,078
Net income
-$8,968
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.01$3.64$2.38$9.01$9.89$0.87
2022Detailed filing. Detailed filing data is available for this year.$4.81$1.39$3.42$6.03$6.17$0.14
2021Detailed filing. Detailed filing data is available for this year.$3.92$0.37$3.56$5.55$5.39$0.17
2020Detailed filing. Detailed filing data is available for this year.$4.00$0.61$3.39$4.82$5.62$0.81
2019Detailed filing. Detailed filing data is available for this year.$4.50$0.31$4.20$5.26$5.80$0.55
2018Detailed filing. Detailed filing data is available for this year.$4.91$0.16$4.74$5.68$6.20$0.52
2017Detailed filing. Detailed filing data is available for this year.$6.22$0.95$5.26$6.31$6.41$0.10
2016Detailed filing. Detailed filing data is available for this year.$6.10$0.74$5.36$5.73$5.82$0.09
2015Detailed filing. Detailed filing data is available for this year.$6.25$0.70$5.54$5.44$5.61$0.18
2014Detailed filing. Detailed filing data is available for this year.$6.31$0.59$5.72$5.11$5.20$0.09
2013Detailed filing. Detailed filing data is available for this year.$6.52$0.71$5.81$5.16$5.14$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.68$0.89$5.79$5.03
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.48$0.71$5.76$4.54
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.31$0.71$5.59$4.10