Liabilities / Assets
69th percentile
Higher debt load relative to assets than 69% of similar nonprofits.
Minot Chamber of Commerce
EIN 45-0166410 • 501(c)6 • Minot, ND
Profile
To promote, develop, and serve business, industry and community.
Siviq Scores
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
0.39x
Liabilities / Revenue
93rd percentile
Higher debt load relative to revenue than 93% of similar nonprofits.
Net Margin
79th percentile
Higher net margin than 79% of similar nonprofits.
Top Officer Pay
20th percentile
Higher top officer pay than 20% of similar nonprofits.
Top officer pay equals 4.8% of source-year revenue.
Asset Growth
31st percentile
Faster asset growth than 31% of similar nonprofits.
Revenue Growth
39th percentile
Faster revenue growth than 39% of similar nonprofits.
Balance Sheet
Assets
Up$18,846,991
Up $161,993 (+0.9%) from 2023
Liabilities
Down$7,356,975
Down $586,256 (-7.4%) from 2023
Net Assets
Up$11,490,016
Up $748,249 (+7.0%) from 2023
Revenue
Up$4,225,781
Up $129,252 (+3.2%) from 2023
Expenses
Up$3,477,532
Up $429,323 (+14%) from 2023
Net Income
Down$748,249
Down $300,071 (-29%) from 2023
Trend Graphs
Filings
Most recent year
2024 • Form 990XML pending. An XML filing is linked for this year, but detailed extraction is still pending.
- Assets
- $18,846,991
- Liabilities
- $7,356,975
- Net assets
- $11,490,016
- Revenue
- $4,225,781
- Expenses
- $3,477,532
- Net income
- $748,249
Latest Detailed Filing
The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2022 to Dec 31, 2022
- Signed
- Oct 31, 2023
- Return Version
- 2022v5.0
- Gross Receipts
- $2,682,063
Mission and Program Overview
Mission
To advocate for and invest in business activity by being a collaborative partner in the community, focused on improving quality of life for all.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Land, Buildings, and Equipment, Net | $6,370,834 | $15,799,823 | ▲ $9,428,989 |
| Cash and Non-Interest-Bearing Accounts | $1,886,711 | $1,283,594 | ▼ $603,117 |
| Savings and Temporary Cash Investments | $1,411,919 | $1,132,917 | ▼ $279,002 |
| Total Assets | $9,669,464 | $18,216,334 | ▲ $8,546,870 |
| Liabilities | |||
| Mortgage Notes Payable Secured by Investment Property | $20,153 | $8,513,271 | ▲ $8,493,118 |
| Other Liabilities | $187,826 | $0 | ▼ $187,826 |
| Accounts Payable and Accrued Expenses | $6,439 | $9,616 | ▲ $3,177 |
| Total Liabilities | $214,418 | $8,522,887 | ▲ $8,308,469 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $8,174,909 | $9,449,857 | ▲ $1,274,948 |
| Net Assets With Donor Restrictions | $1,280,137 | $243,590 | ▼ $1,036,547 |
| Total Net Assets Fund Balance | $9,455,046 | $9,693,447 | ▲ $238,401 |
| Total Liabilities and Net Assets / Fund Balance | $9,669,464 | $18,216,334 | ▲ $8,546,870 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Land | $9,367,867 | - | $9,367,867 |
| Leasehold Improvements | $3,504,900 | $737,556 | $4,242,456 |
| Equipment | $2,090,983 | $341,236 | $2,432,219 |
| Buildings | $836,073 | $399,088 | $1,235,161 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Brekka Kramer | President & Corporate Secr | FT | $103,919 | $70 | $103,989 |
Board Members and Trustees
| Name | Title |
|---|---|
| Randy Hauck | Chair |
| Kevin Black | Chair-elect |
| John Knecht | Past Chair |
| Cassidy Hjelmstad | Vice-chair |
| Bucky Anderson | Director |
| Dr Mark Vollmer | Director |
| Dr Steven Shirley | Director |
| Jason Zimmerman | Director |
| Les Knudson | Director |
| Mayor Tom Ross | Director |
| Randy Schwan | Director |
| Ryan Ackerman | Director |
| Missy Feist Erickson | Treasurer |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $1,368,448
- Program Service Revenue
- $688,686
- Investment Income
- $2,347
- Other Revenue
- $622,310
- All Other Contributions
- $87,000
- Change in Net Assets
- $238,401
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $2,681,791
- Revenue Not Reported on Financial Statements
- $0
- Revenue Not Reported on Form 990
- $272
- Total Revenue per Audited Statements
- $2,682,063
- Total Revenue per Form 990
- $2,681,791
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $1,348,628 |
| Salaries, Compensation, and Employee Benefits | $1,094,762 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Other Salaries and Wages | - | - | - | $648,023 |
| Depreciation Depletion | - | - | - | $285,809 |
| Current Officers, Directors, Trustees, and Key Employees | - | - | - | $196,593 |
| Fees for Services Other | - | - | - | $196,334 |
| Other Employee Benefits | - | - | - | $130,749 |
| Travel | - | - | - | $122,768 |
| All Other Expenses | - | - | - | $116,599 |
| Interest | - | - | - | $110,474 |
| Occupancy | - | - | - | $104,164 |
| Advertising | - | - | - | $94,724 |
| Other Expenses | - | - | - | $68,300 |
| Payroll Taxes | - | - | - | $61,982 |
| Pension Plan Contributions | - | - | - | $57,415 |
| Fees for Services Accounting | - | - | - | $22,910 |
| Office Expenses | - | - | - | $19,524 |
| Total Functional Expenses | $0 | $0 | $0 | $2,443,390 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Total Expenses per Audited Statements | $2,443,662 |
| Expenses per Audited Statements | $2,443,390 |
| Total Expenses per Form 990 | $2,443,390 |
| Expenses Not Reported on Form 990 | $272 |