Civic Intelligence

Granite Falls Area Chamber of Commerce

990 • Fiscal year 2014 • EIN 41-0854232

Jan 01, 2014 to Dec 31, 2014 • Filed on Aug 10, 2015

Organization ProfileWWW.GRANITEFALLS.COM
807 Prentice StreetGranite Falls, MN 56241

(320) 564-4039

Siviq Scores

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

Liabilities / Assets

61st percentile

0.02x

Higher debt load relative to assets than 61% of similar nonprofits.

2014 filings • 501(c)6 • <$500k nonprofits • Source year 2014

Liabilities / Revenue

71st percentile

0.05x

Higher debt load relative to revenue than 71% of similar nonprofits.

2014 filings • 501(c)6 • <$500k nonprofits • Source year 2014

Net Margin

86th percentile

22%

Higher net margin than 86% of similar nonprofits.

2014 filings • 501(c)6 • <$500k nonprofits • Source year 2014

Top Officer Pay

68th percentile

$0

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2014 filings • 501(c)6 • <$500k nonprofits • Source year 2014

Asset Growth

66th percentile

12%

Faster asset growth than 66% of similar nonprofits.

2014 filings • 501(c)6 • <$500k nonprofits • Annualized from 2013 to 2014

Revenue Growth

60th percentile

6.4%

Faster revenue growth than 60% of similar nonprofits.

2014 filings • 501(c)6 • <$500k nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets61st percentile

Assets

Up

$118,994

Up $12,520 (+12%) from 2013

Net Assets

Up

$116,036

Up $13,558 (+13%) from 2013

Liabilities

Down

$2,958

Down $1,038 (-26%) from 2013

Revenue And Expenses
Liabilities / Revenue71st percentileNet Margin86th percentile

Revenue

Up

$61,054

Up $3,681 (+6.4%) from 2013

Expenses

Down

$47,496

Down $7,311 (-13%) from 2013

Net Income

Up

$13,558

Up $10,992 (+428%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth66th percentile

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

$600K$400K$200K$0Assets 2010: $91,630Liabilities 2010: $2,066Net Assets 2010: $89,5642010Assets 2011: $103,889Liabilities 2011: $6,419Net Assets 2011: $97,4702011Assets 2012: $105,364Liabilities 2012: $5,452Net Assets 2012: $99,9122012Assets 2013: $106,474Liabilities 2013: $3,996Net Assets 2013: $102,4782013Assets 2014: $118,994Liabilities 2014: $2,958Net Assets 2014: $116,0362014Assets 2015: $134,903Liabilities 2015: $1,913Net Assets 2015: $132,9902015Assets 2016: $125,428Liabilities 2016: $750Net Assets 2016: $124,6782016Assets 2017: $160,398Liabilities 2017: $0Net Assets 2017: $160,3982017Assets 2018: $177,698Liabilities 2018: $8,000Net Assets 2018: $169,6982018Assets 2019: $200,673Liabilities 2019: $14,400Net Assets 2019: $186,2732019Assets 2020: $206,791Liabilities 2020: $2,800Net Assets 2020: $203,9912020Assets 2021: $278,966Liabilities 2021: $12,799Net Assets 2021: $266,1672021Assets 2022: $405,703Liabilities 2022: $66,647Net Assets 2022: $339,0562022Assets 2023: $437,483Liabilities 2023: $21,189Net Assets 2023: $416,2942023Assets 2024: $73,867Liabilities 2024: $18,819Net Assets 2024: $55,0482024

Highlighted filing

2014

Assets$118,994
Liabilities$2,958
Net Assets$116,036
Open 2014 Filing

Operations Trend

Revenue Growth60th percentile

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

$200K$150K$100K$50K$0-$50KExpenses 2010: $57,7762010Expenses 2011: $55,9552011Expenses 2012: $55,4032012Revenue 2013: $57,373Expenses 2013: $54,807Net Income 2013: $2,5662013Revenue 2014: $61,054Expenses 2014: $47,496Net Income 2014: $13,5582014Revenue 2015: $72,902Expenses 2015: $55,948Net Income 2015: $16,9542015Revenue 2016: $50,665Expenses 2016: $58,977Net Income 2016: -$8,3122016Revenue 2017: $92,915Expenses 2017: $57,195Net Income 2017: $35,7202017Revenue 2018: $78,464Expenses 2018: $69,164Net Income 2018: $9,3002018Revenue 2019: $65,567Expenses 2019: $48,992Net Income 2019: $16,5752019Revenue 2020: $43,840Expenses 2020: $26,122Net Income 2020: $17,7182020Revenue 2021: $104,205Expenses 2021: $42,029Net Income 2021: $62,1762021Revenue 2022: $138,032Expenses 2022: $65,143Net Income 2022: $72,8892022Revenue 2023: $154,230Expenses 2023: $76,992Net Income 2023: $77,2382023Revenue 2024: $69,999Expenses 2024: $45,239Net Income 2024: $24,7602024

Highlighted filing

2014

Revenue$61,054
Expenses$47,496
Net Income$13,558
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Aug 10, 2015
Return Version
2014v5.0
Gross Receipts
$207,836
Mission and Program Overview

Mission

Promote the city of granite falls

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$55,558$68,018▲ $12,460
Savings and Temporary Cash Investments$50,916$50,976▲ $60
Total Assets$106,474$118,994▲ $12,520
Liabilities
Unsecured Notes Loans Payable$3,750$2,750▼ $1,000
Accounts Payable and Accrued Expenses$246$208▼ $38
Total Liabilities$3,996$2,958▼ $1,038
Net Assets / Fund Balance
Unrestricted Net Assets$51,562$65,060▲ $13,498
Permanently Rstr Net Assets$50,916$50,976▲ $60
Total Net Assets Fund Balance$102,478$116,036▲ $13,558
Total Liabilities and Net Assets / Fund Balance$106,474$118,994▲ $12,520
Compensation and Service Providers
Top Officer Pay68th percentile

Board Members and Trustees

NameTitle
Greg HolmstromPresident
Dave SmiglewskiBoard Member
John BerendsBoard Member
Judy TebbenBoard Member
Mark SannerudBoard Member
Mary GillespieBoard Member
Nancy FiegenBoard Member
Brad PetersonBoard Memebe
Kelly VanklompenburgPast Preside
Jennifer KattevoldTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$13,803
Program Service Revenue
$36,741
Investment Income
$109
Other Revenue
$10,401
All Other Contributions
$13,803
Change in Net Assets
$13,558
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$25,612
Salaries, Compensation, and Employee Benefits$21,884
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$19,970
Advertising---$15,690
Office Expenses---$5,905
Fees for Services Accounting---$2,495
Payroll Taxes---$1,914
Insurance---$1,522
Total Functional Expenses$0$0$0$47,496
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$157,183
Fundraising Direct Expenses$146,782
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Western Fest$136,090$136,090$131,548$4,542
Mid-winter Cele$8,229$8,229$6,378$1,851
Total Events$152,484$152,484$142,541$9,943
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
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, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Granite Falls Area Chamber of
EIN
41-0854232
Phone
3205644039
Address
807 PRENTICE STREET, GRANITE FALLS, MN 56241

Signing Officer

Name
Greg Holmstrom
Title
President
Phone
3205644039
Signed
2015-08-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Greg Holmstrom
Formed
1958
Legal Domicile
Mn
Voting Board Members
10
Independent Board Members
10
Employees
2

Preparer

Firm
Hoffman & Brobst Pllp
Address
125 8TH AVE, GRANITE FALLS, MN 56241
Preparer
Jane a Hansen CPA
Phone
3205644070
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“Promote granite falls for tourism in order to benefit the business community.”

Raw XML Appendix300 raw XML fields

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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ReturnHeader/Filer/USAddress/ZIPCd056241
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0410978542
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HOFFMAN & BROBST PLLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0125 8TH AVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GRANITE FALLS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd056241
ReturnHeader/PreparerPersonGrp/PhoneNum03205644070
ReturnHeader/PreparerPersonGrp/PreparationDt02015-08-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JANE A HANSEN CPA
ReturnHeader/ReturnTs02015-08-11T09:39:08-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$118,994
Liabilities
$2,958
Net assets
$116,036
Revenue
$61,054
Expenses
$47,496
Net income
$13,558
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.74$0.19$0.55$0.70$0.45$0.25
2023Detailed filing. Detailed filing data is available for this year.$4.37$0.21$4.16$1.54$0.77$0.77
2022Detailed filing. Detailed filing data is available for this year.$4.06$0.67$3.39$1.38$0.65$0.73
2021Detailed filing. Detailed filing data is available for this year.$2.79$0.13$2.66$1.04$0.42$0.62
2020Detailed filing. Detailed filing data is available for this year.$2.07$0.03$2.04$0.44$0.26$0.18
2019Detailed filing. Detailed filing data is available for this year.$2.01$0.14$1.86$0.66$0.49$0.17
2018Detailed filing. Detailed filing data is available for this year.$1.78$0.08$1.70$0.78$0.69$0.09
2017Detailed filing. Detailed filing data is available for this year.$1.60$0.00$1.60$0.93$0.57$0.36
2016Detailed filing. Detailed filing data is available for this year.$1.25$0.01$1.25$0.51$0.59$0.08
2015Detailed filing. Detailed filing data is available for this year.$1.35$0.02$1.33$0.73$0.56$0.17
2014Detailed filing. Detailed filing data is available for this year.$1.19$0.03$1.16$0.61$0.47$0.14
2013Detailed filing. Detailed filing data is available for this year.$1.06$0.04$1.02$0.57$0.55$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.05$0.05$1.00$0.55
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.04$0.06$0.97$0.56
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.92$0.02$0.90$0.58