OWATONNA AREA CHAMBER FOUNDATION

EIN: 363319497 501(c)(3)

OWATONNA, MN

Total Revenue
$407,304
Total Expenses
$205,524
Total Assets
$821,071
Net Assets
$821,071
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1986
Legal Domicile
MN
Principal Officer
WAYNE STARMAN
Phone
5074517970
Tax Period
2024-01-01 to 2024-12-31

OWATONNA AREA CHAMBER FOUNDATION, founded in 1986, is a small nonprofit that reported $407K in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. The organization ran a surplus of $202K, a strong 50% operating margin.

Mission

TO SOLICIT, COLLECT, RECEIVE, ACCUMULATE, ADMINISTER AND DISBURSE FUNDS IN SUCH A MANNER AS WILL IN THE SOLE DISCRETION OF THE BOARD OF DIRECTORS, MOST EFFECTIVELY OPERATE TO FURTHER CHARTITABLE, SCIENTIFIC, LITERARY OR EDUCATIONAL PURPOSES, TO MAKE CONTRIBUTIONS TO ANY ORGANIZATION DESCRIBED IN 501(C)(3)OF THE INTERNAL REVENUE CODE,WITH THE EXCEPTION OF ORGANIZATIONS TESTING FOR PUBLIC SAFETY.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $406,039
Program Service Revenue $0
Investment Income $1,265
Other Revenue $0
TOTAL REVENUE $407,304

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $183,086
Other Expenses $205,524
TOTAL EXPENSES $205,524

Year-over-Year Comparison

2024 2023 Change
Revenue $407,304 $374,223 +0.1%
Expenses $205,524 $157,590 +0.3%
Net Income $201,780 $216,633 -0.1%
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

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Liquidity & Cash Position

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Governance

Voting Members
11
Independent Members
11
Employees
N/A
Volunteers
14

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
4
$0
Total Directors
7
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SYD BRIGGS MEMBER 1.00
Director
$0 $0 $0
NATHAN DOTSON MEMBER 1.00
Director
$0 $0 $0
RHONDA GUTHIER MEMBER 1.00
Director
$0 $0 $0
MIKE HERMAN MEMBER 1.00
Director
$0 $0 $0
GREG KRUEGER MEMBER 1.00
Director
$0 $0 $0
OSCAR MAZARIEGO MEMBER 1.00
Director
$0 $0 $0
JULIE M RETHEMEIER MEMBER 1.00
Director
$0 $0 $0
ANDREW COWELL TREASURER 1.00
Officer
$0 $0 $0
DEB GILLARD VICE CHAIR 1.00
Officer
$0 $0 $0
BRAD MEIER SECRETARY 1.00
Officer
$0 $0 $0
WAYNE STARMAN CHAIR 1.00
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
2024 $407,304 $205,524 $821,071 $201,780
2023 $374,223 $157,590 $619,291 $216,633
2022 $317,973 $108,726 $402,658 $209,247
2021 $449,503 $704,686 $195,093 $-255,183
2020 $299,536 $185,587 $448,594 $113,949
2019 $296,220 $329,243 $335,525 $-33,023
2018 $368,718 $104,953 $374,795 $263,765
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