Des Moines Downtown Chamber of Com… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2008

Legal Domicile

Principal Officer

Jimmy Olsen

Phone

5152976333

Tax Period

2023-01-01 to 2023-12-31

Des Moines Downtown Chamber of Commerce, founded in 2008, is a small nonprofit in the Community Improvement sector that reported $205K in total revenue in fiscal year 2023. Revenue surged 80% from the prior year, signaling strong growth momentum. The organization ran a surplus of $59K, a strong 29% operating margin.

Mission

The Des Moines Downtown Chamber of Commerce promotes the success and sustained growth of Downtown Des Moines by proactively providing information and resources, facilitating knowledge-sharing and elevating understanding of economic issues.

Program Service Accomplishments

Program 1

Expenses: $178 Revenue: $9,273

DIG is a series of economic development and community impact educational events held throughout the year to inform attendees of projects, challenges, and opportunities facing the community.

Program 2

Expenses: $18,900 Revenue: $22,296

Annual Celebration - Come together to hear about the successes of the last year, recognize members who've gone above and beyond, and celebrate as we look forward to the year to come.

Program 3

Expenses: $1,235 Revenue: $2,175

Other programs include Downtown Council, 6 Degrees, Legislative Coffees, LEAP, Summer Skyline Series, and ribbon cutting ceremonies

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $204,576

Program Service Revenue $0

Investment Income $204

Other Revenue $0

TOTAL REVENUE $204,780

Expense Breakdown

Grants Paid $0

Salaries & Benefits $60,007

Fundraising Expenses $0

Program Expenses $20,313

Other Expenses $86,196

TOTAL EXPENSES $146,203

Year-over-Year Comparison

	2023	2022	Change
Revenue	$204,780	$113,580	+0.8%
Expenses	$146,203	$143,276	+0.0%
Net Income	$58,577	$-29,696	-3.0%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

$28,700

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Jimmy Olsen	Executive Director	40	Key Emp Highest	$28,700	$0	$28,700
Joseph Benesh	Vice President	4	Officer Director	$0	$0	$0
Ric D'Amico	Board Member	2	Director	$0	$0	$0
Jaclyn Taylor	Past President	2	Director	$0	$0	$0
Wyatt Reicherts	President	4	Officer Director	$0	$0	$0
Dylan Kneip	Treasurer	2	Officer Director	$0	$0	$0
Tony Timm	Director	2	Director	$0	$0	$0
David Fast	Director	2	Director	$0	$0	$0
Amanda Nagle	Director	2	Director	$0	$0	$0
Renae Mauk	Director	2	Director	$0	$0	$0
Erin Knupp	Director	2	Director	$0	$0	$0
Sachin Saghel	Director	2	Director	$0	$0	$0
Octavius Evans	Director	2	Director	$0	$0	$0
Amy Wallman Madden	Director	2	Director	$0	$0	$0
Cody Christensen	Director	2	Director	$0	$0	$0
Jennifer Curtis	Secretary	4	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2023	$204,780	$146,203	$83,037	$58,577
2021	$135,109	$138,630	$72,354	$-3,521
2020	$275,823	$217,442	$92,476	$58,381
2019	$256,024	$281,458	$43,732	$-25,434
2018	$238,584	$225,838	$57,889	$12,746

Des Moines Downtown Chamber of Commerce