Civic Intelligence

Rochester Chamber of Commerce Foundation Inc

EIN 41-1675433 • 501(c)3 • Rochester, MN

Profile

To support and advance the charitable interest of the rochester area chamber of commerce through education and workforce development programs which promote p-16 education initiatives, creation of diverse and flexible workplaces, leadership development which encourages a dynamic and innovative vision of the future, planning, research and community education to anticipate and communicate future community needs and challenges, and partnerships between the business community and educational, governmental, and non-profit organizations.

220 S Broadway No 100Rochester, MN 55904

www.rochestermnchamber.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

84th percentile

0.26x

Higher debt load relative to assets than 84% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

95th percentile

0.97x

Higher debt load relative to revenue than 95% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Net Margin

87th percentile

42%

Higher net margin than 87% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

81st percentile

$0

Higher top officer pay than 81% of similar nonprofits.

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

501(c)3 • <$500k nonprofits • Source year 2024

Asset Growth

Score unavailable

No value available

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

Source year 2024

Revenue Growth

Score unavailable

No value available

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

Source year 2024

Balance Sheet
Liabilities / Assets84th percentile

Assets

Down

$226,931

Down $99,710 (-31%) from 2019

Liabilities

Up

$58,614

Up $1,112 (+1.9%) from 2019

Net Assets

Down

$168,317

Down $100,822 (-37%) from 2019

Operations
Liabilities / Revenue95th percentileNet Margin87th percentile

Revenue

Down

$60,573

Down $32,143 (-35%) from 2019

Expenses

Down

$35,057

Down $66,648 (-66%) from 2019

Net Income

Up

$25,516

Up $34,505 (+384%) from 2019

Trend Graphs

Balance Sheet Trend

Asset GrowthScore unavailable

Grouped bars show assets, liabilities, and net assets across loaded filings.

$800K$600K$400K$200K$0Assets 2010: $428,841Liabilities 2010: $188,122Net Assets 2010: $240,7192010Assets 2011: $600,892Liabilities 2011: $305,939Net Assets 2011: $294,9532011Assets 2012: $641,127Liabilities 2012: $301,401Net Assets 2012: $339,7262012Assets 2013: $680,575Liabilities 2013: $311,832Net Assets 2013: $368,7432013Assets 2014: $683,740Liabilities 2014: $298,233Net Assets 2014: $385,5072014Assets 2015: $673,381Liabilities 2015: $240,360Net Assets 2015: $433,0212015Assets 2016: $751,378Liabilities 2016: $170,469Net Assets 2016: $580,9092016Assets 2017: $738,134Liabilities 2017: $236,222Net Assets 2017: $501,9122017Assets 2018: $384,232Liabilities 2018: $106,104Net Assets 2018: $278,1282018Assets 2019: $326,641Liabilities 2019: $57,502Net Assets 2019: $269,1392019Assets 2024: $226,931Liabilities 2024: $58,614Net Assets 2024: $168,3172024

Highlighted filing

2024

Assets$226,931
Liabilities$58,614
Net Assets$168,317
Open 2024 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.0M$500K$0-$500KExpenses 2010: $181,6092010Expenses 2011: $237,8042011Expenses 2012: $271,1282012Revenue 2013: $325,899Expenses 2013: $296,882Net Income 2013: $29,0172013Revenue 2014: $267,571Expenses 2014: $250,807Net Income 2014: $16,7642014Revenue 2015: $312,372Expenses 2015: $264,858Net Income 2015: $47,5142015Revenue 2016: $356,877Expenses 2016: $352,164Net Income 2016: $4,7132016Revenue 2017: $504,614Expenses 2017: $625,678Net Income 2017: -$121,0642017Revenue 2018: $205,173Expenses 2018: $461,669Net Income 2018: -$256,4962018Revenue 2019: $92,716Expenses 2019: $101,705Net Income 2019: -$8,9892019Revenue 2024: $60,573Expenses 2024: $35,057Net Income 2024: $25,5162024

Highlighted filing

2024

Revenue$60,573
Expenses$35,057
Net Income$25,516
Open 2024 Filing

Filings

Most recent year

2024 • Form 990EZXML pending. An XML filing is linked for this year, but detailed extraction is still pending.

Open filing
Assets
$226,931
Liabilities
$58,614
Net assets
$168,317
Revenue
$60,573
Expenses
$35,057
Net income
$25,516
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.27$0.59$1.68$0.61$0.35$0.26
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.27$0.58$2.69$0.93$1.02$0.09
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.84$1.06$2.78$2.05$4.62$2.56
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.38$2.36$5.02$5.05$6.26$1.21
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.51$1.70$5.81$3.57$3.52$0.05
2015Detailed filing. Detailed filing data is available for this year.$6.73$2.40$4.33$3.12$2.65$0.48
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.84$2.98$3.86$2.68$2.51$0.17
2013XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.81$3.12$3.69$3.26$2.97$0.29
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.41$3.01$3.40$2.71
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.01$3.06$2.95$2.38
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.29$1.88$2.41$1.82
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2018 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 15, 2019
Return Version
2018v3.1
Gross Receipts
$205,173
Mission and Program Overview

Mission

To support and advance the charitable interests of the rochester area chamber of commerce through education and workforce development programs which promote p-16 education initiatives, creation of diverse and flexible workplaces, leadership development which encourages a dynamic and innovative vision of the future, planning, research and community education to anticipate and communicate future community needs and challenges, and partnerships between the business community and educational, governmental and non-profit organizations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$247,700$210,545▼ $37,155
Savings and Temporary Cash Investments$425,361$160,414▼ $264,947
Prepaid Expenses and Deferred Charges$18,877$0▼ $18,877
Cash and Non-Interest-Bearing Accounts$40,480$11,004▼ $29,476
Accounts Receivable$5,716$2,269▼ $3,447
Total Assets$738,134$384,232▼ $353,902
Liabilities
Deferred Revenue$111,810$84,605▼ $27,205
Other Liabilities$119,474$19,884▼ $99,590
Accounts Payable and Accrued Expenses$4,938$1,615▼ $3,323
Total Liabilities$236,222$106,104▼ $130,118
Net Assets / Fund Balance
Unrestricted Net Assets$479,365$277,128▼ $202,237
Temporarily Rstr Net Assets$22,547$1,000▼ $21,547
Total Net Assets Fund Balance$501,912$278,128▼ $223,784
Total Liabilities and Net Assets / Fund Balance$738,134$384,232▼ $353,902

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$210,545$45,615$256,160
Compensation and Service Providers
Top Officer Pay81st percentile

Employees

NameTitleFull / Part TimeOtherTotal
Kathleen HarringtonPresidentPT$140,603$140,603
Matt BissonetteVice PresidentPT$127,779$127,779

Board Members and Trustees

NameTitle
Greg HouseChair
Lisa ClarkChair (to Sept 30)
Aaron BenikeChair Elect
Guy FinneDirector
Jerome FersonDirector
Michelle PyfferoenDirector
Jeanine GangenessDirector Part Year
Emily BennerSecretary
Mark CarlsonSecretary (to Sept 30)
Mike BuschTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$134,285
Program Service Revenue
$69,278
Investment Income
$1,610
Other Revenue
$0
All Other Contributions
$134,285
Change in Net Assets
$-256,496

Audited Revenue Reconciliation

Revenue per Audited Statements
$205,173
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$32,712
Total Revenue per Audited Statements
$237,885
Total Revenue per Form 990
$205,173
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$461,669
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Conferences and Meetings$39,506$38-$39,544
Depreciation Depletion$37,155--$37,155
Fees for Services Accounting$26,650$9,620-$36,270
Advertising$19,603$692-$20,295
All Other Expenses$4,650$3,789-$8,439
Office Expenses$3,492$241-$3,733
Other Expenses$3,239$60,081-$3,239
Travel$1,140$174-$1,314
Information Technology-$609-$609
Total Functional Expenses$386,425$75,244$0$461,669

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$461,669
Total Expenses per Audited Statements$461,669
Total Expenses per Form 990$461,669
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Chamber$19,884
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
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, Part VI, Section A, Line 4

“Rochester chamber of commerce foundation amended its bylaws in august 2018. Changes to the bylaws included changes to the organization's purpose, changes to trustee responsibilities, and changes to descriptions of officer duties.”

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

“After the tax firm prepares the form 990, the vice president of finance & administration will review it in detail before it is filed comparing the information in the return with the financial records of the organization. In addition the answers supplied in the firm's questionnaire wil be compared to the answers in the return for completeness and accuracy. The form 990 will then be given to the president of the foundation and the treasurer of the board of trustees for their review. The vice president of finance & administration will answer or obtain any answers to questions that may arise. It is not the past practice of the foundation to have its board review the form 990.”

Form 990, Part VI, Section B, Line 12C

“Event locations are rotated between members, quotes are obtained for supply and printing purposes.”

Form 990, Part VI, Section B, Line 15

“The organization does not directly compensate the president. The rochester area chamber of commerce, a related organization, establishes and pays the compensation package to kathleen harrington, president of both organizations. The compensation is established and reported by the rochester area chamber of commerce by using compensation committee, form 990 of other organizations, written employment contract, compensation survey or study, and approval by the board or compensation committee. The compensation for the president kathleen for 2018 was determined by the board chair and chair-elect based on data provided by the vice president of finance & administration regarding the range of chamber president salaries with like membership size and similar total revenue. The compensation for other officer\key employees of the organization is determined by utilizing chamber salary reports and state\regional salary reports based on comparable positions.”

Form 990, Part VI, Section C, Line 19

“The foundation's governing documents, conflict of interest policy and financial statements are available to the public upon written request.”

Filing and Contact Details

Filer

Filer Name
Rochester Chamber of Commerce Foundation
EIN
41-1675433
Phone
5072881122
Address
220 S BROADWAY NO 100, ROCHESTER, MN 55904

Signing Officer

Name
Kathleen Harrington
Title
President
Phone
5072881122
Signed
2019-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kathleen Harrington
Formed
1990
Legal Domicile
Mn
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
25

Preparer

Firm
Cliftonlarsonallen Llp
Address
2689 COMMERCE DRIVE NW SUITE 201, ROCHESTER, MN 55901
Preparer
Craig Popenhagen
Phone
5072802300
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“The process regarding oversight of the audit of the financial statements and selection of the independent accountant has not changed from the prior year.”

Financial Statement Notes

PART X, LINE 2:

“The foundation is exempt from federal income taxes under section 501(a) of the internal revenue code, since it is an organization described under section 501(c)(3), and comparable sections of the minnesota statutes. The foundation has been classified as an organization other than a private foundation under section 509(a)(2).”

Raw XML AppendixShowing 400 of 528 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.

Path#Value
IRS990/AccountantCompileOrReviewInd00
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IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0TO SUPPORT AND ADVANCE THE CHARITABLE INTERESTS OF THE ROCHESTER AREA CHAMBER OF COMMERCE THROUGH EDUCATION AND WORKFORCE DEVELOPMENT PROGRAMS WHICH PROMOTE P-16 EDUCATION INITIATIVES, CREATION OF DIVERSE AND FLEXIBLE WORKPLACES, LEADERSHIP DEVELOPMENT WHICH ENCOURAGES A DYNAMIC AND INNOVATIVE VISION OF THE FUTURE, PLANNING, RESEARCH AND COMMUNITY EDUCATION TO ANTICIPATE AND COMMUNICATE FUTURE COMMUNITY NEEDS AND CHALLENGES, AND PARTNERSHIPS BETWEEN THE BUSINESS COMMUNITY AND EDUCATIONAL, GOVERNMENTAL AND NON-PROFIT ORGANIZATIONS.
IRS990/AdvertisingGrp/ManagementAndGeneralAmt0692
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IRS990/Desc0LEADERSHIP GREATER ROCHESTER - THE LGR CLASS OF 2018-19 IMPLEMENTED THE BE THE BRIDGE PROJECT, AN INITIATIVE THAT AIMS TO CONNECT MENTORS WITH AVAILABLE MENTEES IN THE GREATER ROCHESTER AREA. THE AWARENESS-BUILDING PROJECT WILL INFORM THE COMMUNITY OF MENTORSHIP AND NEED, ALIGN MENTORS WITH YOUTH ORGANIZATIONS THROUGH A WEB-BASED APPLICATION, AND ACTIVATE THE WORKFORCE TO INVEST IN THE FUTURE. AS PART OF THE PROGRAM, THE CLASS ARE ALSO AIMING TO RAISE $25,000 AND HOST A GRANT THROUGH THE ROCHESTER AREA FOUNDATION THAT WILL SUPPORT MENTORSHIP ORGANIZATIONS.
IRS990/DescribedInSection501c3Ind01
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IRS990/Form990PartVIISectionAGrp/PersonNm4JEROME FERSON
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IRS990/Form990PartVIISectionAGrp/PersonNm8MARK CARLSON
IRS990/Form990PartVIISectionAGrp/PersonNm9JEANINE GANGENESS
IRS990/Form990PartVIISectionAGrp/PersonNm10KATHLEEN HARRINGTON
IRS990/Form990PartVIISectionAGrp/PersonNm11MATT BISSONETTE
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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHAIR ELECT
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7CHAIR (TO SEPT 30)
IRS990/Form990PartVIISectionAGrp/TitleTxt8SECRETARY (TO SEPT 30)
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR PART YEAR
IRS990/Form990PartVIISectionAGrp/TitleTxt10PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt11VICE PRESIDENT
IRS990/Form990ProvidedToGvrnBodyInd00
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IRS990/GrantAmt00
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt0205173
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IRS990/InfoInScheduleOPartXIIInd0X
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IRS990/IRPDocumentCnt00
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IRS990/MissionDesc0TO SUPPORT AND ADVANCE THE CHARITABLE INTERESTS OF THE ROCHESTER AREA CHAMBER OF COMMERCE THROUGH EDUCATION AND WORKFORCE DEVELOPMENT PROGRAMS WHICH PROMOTE P-16 EDUCATION INITIATIVES, CREATION OF DIVERSE AND FLEXIBLE WORKPLACES, LEADERSHIP DEVELOPMENT WHICH ENCOURAGES A DYNAMIC AND INNOVATIVE VISION OF THE FUTURE, PLANNING, RESEARCH AND COMMUNITY EDUCATION TO ANTICIPATE AND COMMUNICATE FUTURE COMMUNITY NEEDS AND CHALLENGES, AND PARTNERSHIPS BETWEEN THE BUSINESS COMMUNITY AND EDUCATIONAL, GOVERNMENTAL AND NON-PROFIT ORGANIZATIONS.
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IRS990/MoreThan5000KToOrgInd00
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IRS990/NetAssetsOrFundBalancesEOYAmt0278128
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0241
IRS990/OfficeExpensesGrp/ProgramServicesAmt03492
IRS990/OfficeExpensesGrp/TotalAmt03733
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0CHAMBER ALLOCATION
IRS990/OtherExpensesGrp/Desc1COMMUNITY IMPACT PROJEC
IRS990/OtherExpensesGrp/Desc2ORIENTATION, ASSESSMENT
IRS990/OtherExpensesGrp/Desc3CONSULTING
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt060081
IRS990/OtherExpensesGrp/ProgramServicesAmt0240322
IRS990/OtherExpensesGrp/ProgramServicesAmt16185
IRS990/OtherExpensesGrp/ProgramServicesAmt24483
IRS990/OtherExpensesGrp/ProgramServicesAmt33239
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IRS990/OtherExpensesGrp/TotalAmt16185
IRS990/OtherExpensesGrp/TotalAmt24483
IRS990/OtherExpensesGrp/TotalAmt33239
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IRS990/OtherLiabilitiesGrp/EOYAmt019884
IRS990/PartialLiquidationInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt018877
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0KATHLEEN HARRINGTON
IRS990/ProfessionalFundraisingInd00
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IRS990/ProgramServiceRevenueGrp/Desc0EVENT REGISTRATION FEE
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt069278
IRS990/ProgSrvcAccomActy2Grp/Desc0ANNUAL SCHOLARSHIP BREAKFAST - PROGRAM TO INCREASE AWARENESS OF THE ROLE OF THE FOUNDATION IN SUPPORT OF THE WORKFORCE MISSION AND TO THANK THE FOUNDATION SUPPORTERS FOR THEIR GENOROSITY.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt00
IRS990/ProgSrvcAccomActy2Grp/GrantAmt00
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt00
IRS990/ProgSrvcAccomActy3Grp/Desc0STEM - SUMMITS ARE A COMPONENT OF A COMMUNITY INITIATIVE TO PROMOTE ADVANCED SCIENCE, TECHNOLOGY, ENGINEERING AND MATH ("STEM") COURSEWORK TO GREATER ROCHESTER AREA STUDENTS. THE FUTURE SUCCESS OF GREATER ROCHESTER'S ECONOMY DEPENDS ON A WELL-PREPARED PIPELINE OF STUDENTS WITH THE EDUCATION AND SKILLS NEEDED TO KEEP ROCHESTER AREA'S BUSINESS AND INDUSTRY COMPETITIVE. "STEM" SUMMITS BRING TOGETHER BUSINESS, HIGHER EDUCATION, LOCAL GOVERNMENT AND COMMUNITIES TO MOTIVATE AND PREPARE OUR STUDENTS FOR AN INCREASINGLY COMPETITIVE GLOBAL MARKETPLACE. THE SUMMIT FIRST BEGAN IN THE FALL OF 2009 WITH 400 STUDENTS WHO ENJOYED INTERACTIVE SCIENCE EXHIBITS AND DEMONSTRATIONS. IT HAS SINCE GROWN TO INCLUDE 2,400 STUDENTS FROM ROCHESTER AND SURROUNDING AREA SCHOOLS.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt076281
IRS990/ProgSrvcAccomActy3Grp/GrantAmt00
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt00
IRS990/ProgSrvcAccomActyOtherGrp/Desc0HUBSOURCE - SE MINNESOTA'S ECONOMY IS GROWING. WHEN YOU COMBINE DESTINATION MEDICAL CENTER'S STRATEGIC GROWTH PLANS AND OUR EXISTING LABOR GAPS THERE IS A NEED TO ACT. BY CONNECTING PEOPLE, RESOURCES, AND JOBS ON A REGIONAL AND NATIONAL SCALE, THE FOUNDATION WITH ITS COMMUNITY PARTNERS SEEK TO MAKE BIG GAINS IN OUR LABOR FORCE NEEDS. THE CREATION OF A NEW WEB PLATFORM HUBSOURCE.MN IS BEING DEVELOPED FOR SOUTHEAST MINNESOTA TO CONNECT EMPLOYERS WITH WORKFORCE NEEDS AND THOSE INDIVIDUALS SEEKING JOBS.
IRS990/ProgSrvcAccomActyOtherGrp/Desc1DR. MARTIN LUTHER KING JR. BREAKFAST - DR. MARTIN LUTHER KING, JR. BREAKFAST IS A SIGNATURE EVENT OF THE FOUNDATION, THIS BREAKFAST ENGAGES OVER 300 COMMUNITY LEADERS AND IDENTIFIES A LOCAL, DIVERSITY CHAMPION TO CELEBRATE THE LIFE, WORK AND WISDOM OF MARTIN LUTHER KING, JR. THROUGH AN INSPIRATIONAL MESSAGE. THIS LOCAL CHAMPION WORKS TO INSPIRE COMMUNITY LEADERS TO TAKE AN ACTIVE ROLE IN FOSTERING AN INCLUSIVE WORKPLACE AND COMMUNITY.
IRS990/ProgSrvcAccomActyOtherGrp/Desc2DIVERSITY IN BUSINESS IS TAKING A LEAD ON BUILDING A MORE INCLUSIVE COMMUNITY, THE FOUNDATION CREATED AN INITIATIVE TO FOSTER BUSINESS GROWTH, ACCESS TO EDUCATION AND RESOURCES FOR OUR LOCAL ENTREPRENEURS, SPECIFICALLY WOMEN AND MINORITIES. WE HAVE BROADENED OUR OBJECTIVE TO TARGET ALL ENTREPRENEURS BY LAUNCHING THE ENTREPRENEUR'S ROUND TABLE. SIMILAR CONNECTIONS HAVE BEEN MADE FOR NON-PROFIT, MINORITY AND WOMEN OWNED BUSINESSES WHOSE ROUNDTABLES OCCUR MONTHLY. THE SUPPLIER DIVERSITY INITIATIVE PROVIDES BUSINESS OPPORTUNITIES, CERTIFICATION ASSISTANCE AND EDUCATION TO SMALL AND DIVERSE AREA SUPPLIERS WHO SEEK ACCESS TO THE SOUTHEASTERN MINNESOTA ECONOMY AND BUSINESS COMMUNITY.
IRS990/ProgSrvcAccomActyOtherGrp/Desc3LEADERSHIP GREATER ROCHESTER COMMUNITY IMPACT PROJECT - ONE COMPONENT OF THE LGR - TEN MONTH PROGRAM IS THE CLASSES' INVOLVEMENT IN COMMUNITY IMPACT PROJECT. ONE THAT BENEFITS THE COMMUNITY, THAT IS DESIRABLE, DOABLE, SCALABLE AND SUSTAINABLE THE PROGRAM IS DESIGNED TO ENCOURAGE INDIVIDUAL RESPONSIBILITY FOR TAKING AN ACTIVE LEADERSHIP ROLE IN THE FUTURE VITALITY OF THE GREATER ROCHESTER AREA. THE CLASS PROJECT FOR 2016-2017 WAS THE SILVER LAKE STATION. THE CLASS WORKED WITH THE CITY AND THE PARKS AND REC DEPARTMENT TO TRANSFORM THE OLD ROCHESTER FIRE STATION NUMBER TWO INTO "THE SILVER LAKE STATION." THE PRIME SPACE WAS DESIGNED FOR RECREATION, MEETING AND MULTI-USE ACTIVITIES INCLUDING FOOD TRUCK HOOKUPS AND A HOME FOR THE BIKE-SHARING GROUP "NICE RIDE MN" IN ROCHESTER.
IRS990/ProgSrvcAccomActyOtherGrp/Desc4LIVABILITY - PRINT AND DIGITAL RELOCATION PUCLICATION FOR THE ROCHESTER AREA. THE CHAMBER WAS NAMED PARTNER WITH LIVABILITY AS THEY SOLD ADVERTISING FOR THIS GUIDE.
IRS990/ProgSrvcAccomActyOtherGrp/Desc5CLASSROOM CONNECTION FORMERLY LEARN DO EARN - A BUSINESS-DRIVEN PROGRAM DESIGNED TO BE UTILIZED BY TEACHERS, PARENTS AND STUDENTS IN AN EFFORT TO INFORM, MOTIVATE AND GUIDE STUDENTS (GRADES 6-12) AS THEY NAVIGATE THEIR WAY THROUGH HIGH SCHOOL AND BEYOND. "CLASSROOM CONNECTION" USES EYE-POPPING DATA TO PROVIDE STUDENTS WITH A STATISTICAL RATIONALE AND MAKE A COMPELLING CASE FOR WORKING HARD NOW AND TAKING CHALLENGING COURSES IN MATH, SCIENCE AND LANGUAGE ARTS IN ORDER TO BE PREPARED FOR COLLEGE, WORK AND LIFE. IN 2008, THE PROGRAM WAS PILOTED IN A ROCHESTER MIDDLE AND HIGH SCHOOL DUE TO POSITIVE FEEDBACK FROM ADMINISTRATORS, TEACHERS AND STUDENTS, "CLASSROOM CONNECTION" WAS LAUNCHED THROUGHOUT THE ENTIRE ROCHESTER PUBLIC SCHOOL DISTRICT IN 2009. THE PROGRAM WAS EXPANDED INTO THE ROCHESTER CATHOLIC SCHOOLS AND AREA DISTRICTS DURING THE PAST SCHOOL YEARS.
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt0163003
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt146996
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt2562
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt36185
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt40
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt514
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IRS990/ProgSrvcAccomActyOtherGrp/GrantAmt10
IRS990/ProgSrvcAccomActyOtherGrp/GrantAmt20
IRS990/ProgSrvcAccomActyOtherGrp/GrantAmt30
IRS990/ProgSrvcAccomActyOtherGrp/GrantAmt40
IRS990/ProgSrvcAccomActyOtherGrp/GrantAmt50
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt010913
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt12790
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt20
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt30
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt40
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt50
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0420670
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt01096
IRS990/PYOtherExpensesAmt0625678
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt082848
IRS990/PYRevenuesLessExpensesAmt0-121064
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0625678
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0504614
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-256496
IRS990/RegularMonitoringEnfrcInd01
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IRS990/RelatedOrganizationCtrlEntInd00
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IRS990/ReportLandBuildingEquipmentInd01
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IRS990/SavingsAndTempCashInvstGrp/BOYAmt0425361
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0160414
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0406670
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0274273
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt062621
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0245275
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt01123124
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt01610
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0192
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0513
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt069278
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt081460
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt016557
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt063624
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt01610
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0192
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0513
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IRS990ScheduleA/InvestmentIncomeCYPct00.00310
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IRS990/ScheduleBRequiredInd00
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt045615
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IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO CHAMBER
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IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0205173
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE, SINCE IT IS AN ORGANIZATION DESCRIBED UNDER SECTION 501(C)(3), AND COMPARABLE SECTIONS OF THE MINNESOTA STATUTES. THE FOUNDATION HAS BEEN CLASSIFIED AS AN ORGANIZATION OTHER THAN A PRIVATE FOUNDATION UNDER SECTION 509(A)(2).
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0210545
IRS990ScheduleD/TotalExpensesPerForm990Amt0461669
IRS990ScheduleD/TotalLiabilityAmt019884
IRS990ScheduleD/TotalRevenuePerForm990Amt0205173
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0237885
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0461669
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ROCHESTER CHAMBER OF COMMERCE FOUNDATION AMENDED ITS BYLAWS IN AUGUST 2018. CHANGES TO THE BYLAWS INCLUDED CHANGES TO THE ORGANIZATION'S PURPOSE, CHANGES TO TRUSTEE RESPONSIBILITIES, AND CHANGES TO DESCRIPTIONS OF OFFICER DUTIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AFTER THE TAX FIRM PREPARES THE FORM 990, THE VICE PRESIDENT OF FINANCE & ADMINISTRATION WILL REVIEW IT IN DETAIL BEFORE IT IS FILED COMPARING THE INFORMATION IN THE RETURN WITH THE FINANCIAL RECORDS OF THE ORGANIZATION. IN ADDITION THE ANSWERS SUPPLIED IN THE FIRM'S QUESTIONNAIRE WIL BE COMPARED TO THE ANSWERS IN THE RETURN FOR COMPLETENESS AND ACCURACY. THE FORM 990 WILL THEN BE GIVEN TO THE PRESIDENT OF THE FOUNDATION AND THE TREASURER OF THE BOARD OF TRUSTEES FOR THEIR REVIEW. THE VICE PRESIDENT OF FINANCE & ADMINISTRATION WILL ANSWER OR OBTAIN ANY ANSWERS TO QUESTIONS THAT MAY ARISE. IT IS NOT THE PAST PRACTICE OF THE FOUNDATION TO HAVE ITS BOARD REVIEW THE FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EVENT LOCATIONS ARE ROTATED BETWEEN MEMBERS, QUOTES ARE OBTAINED FOR SUPPLY AND PRINTING PURPOSES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION DOES NOT DIRECTLY COMPENSATE THE PRESIDENT. THE ROCHESTER AREA CHAMBER OF COMMERCE, A RELATED ORGANIZATION, ESTABLISHES AND PAYS THE COMPENSATION PACKAGE TO KATHLEEN HARRINGTON, PRESIDENT OF BOTH ORGANIZATIONS. THE COMPENSATION IS ESTABLISHED AND REPORTED BY THE ROCHESTER AREA CHAMBER OF COMMERCE BY USING COMPENSATION COMMITTEE, FORM 990 OF OTHER ORGANIZATIONS, WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE. THE COMPENSATION FOR THE PRESIDENT KATHLEEN FOR 2018 WAS DETERMINED BY THE BOARD CHAIR AND CHAIR-ELECT BASED ON DATA PROVIDED BY THE VICE PRESIDENT OF FINANCE & ADMINISTRATION REGARDING THE RANGE OF CHAMBER PRESIDENT SALARIES WITH LIKE MEMBERSHIP SIZE AND SIMILAR TOTAL REVENUE. THE COMPENSATION FOR OTHER OFFICER\KEY EMPLOYEES OF THE ORGANIZATION IS DETERMINED BY UTILIZING CHAMBER SALARY REPORTS AND STATE\REGIONAL SALARY REPORTS BASED ON COMPARABLE POSITIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FOUNDATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE PROCESS REGARDING OVERSIGHT OF THE AUDIT OF THE FINANCIAL STATEMENTS AND SELECTION OF THE INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00

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