MINNEAPOLIS REGIONAL CHAMBER DEVELOPMENT FOUNDATION

EIN: 363468708 501(c)(3) Community Improvement

MINNEAPOLIS, MN

Total Revenue
$1,617,688
Total Expenses
$2,257,696
Total Assets
$872,882
Net Assets
$-248,858
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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
MIKE LOGAN
Phone
6123709100
Tax Period
2023-01-01 to 2023-12-31

MINNEAPOLIS REGIONAL CHAMBER DEVELOPMENT FOUNDATION, founded in 1986, is a community nonprofit in the Community Improvement sector that reported $1.6M in total revenue in fiscal year 2023. Expenses of $2.3M exceeded revenue, resulting in a 40% operating deficit.

Mission

THE MISSION OF THE MINNEAPOLIS REGIONAL CHAMBER DEVELOPMENT FOUNDATION IS TO OFFER INNOVATIVE WAYS OF REDUCING UNEMPLOYMENT, IMPROVE EDUCATIONAL OPPORTUNITIES FOR DISADVANTAGED YOUTH, INITIATE AND CONDUCT LEADERSHIP DEVELOPMENT PROGRAMS AND PROMOTE EFFORTS THAT ENHANCE THE QUALITY OF LIFE AND LEADERSHIP SKILLS IN THE MINNEAPOLIS AND ST. PAUL AREAS.

Program Service Accomplishments

Program 1
Expenses: $1,043,535 Revenue: $0

COMMUNITY LEADERSHIP: THROUGH THE MINNEAPOLIS REGIONAL CHAMBER DEVELOPMENT FOUNDATION, THE CHAMBER ENGAGES IN AN ONGOING INITIATIVE TO PROMOTE EDUCATION AND LEADERSHIP THROUGH SCHOLARSHIP PROGRAMS...

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COMMUNITY LEADERSHIP: THROUGH THE MINNEAPOLIS REGIONAL CHAMBER DEVELOPMENT FOUNDATION, THE CHAMBER ENGAGES IN AN ONGOING INITIATIVE TO PROMOTE EDUCATION AND LEADERSHIP THROUGH SCHOLARSHIP PROGRAMS AND CONFERENCES AND AN EMERGING LEADERS SERIES.

Program 2
Expenses: $532,576 Revenue: $133,860

LEADERSHIP TWIN CITIES: EACH YEAR, LEADERSHIP TWIN CITIES TAKES A COHORT OF 50+ HIGH POTENTIAL INDIVIDUALS THROUGH A NINE-MONTH PROGRAM OF CIVIC EDUCATION AND LEADERSHIP SKILLS DEVELOPMENT. THE...

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LEADERSHIP TWIN CITIES: EACH YEAR, LEADERSHIP TWIN CITIES TAKES A COHORT OF 50+ HIGH POTENTIAL INDIVIDUALS THROUGH A NINE-MONTH PROGRAM OF CIVIC EDUCATION AND LEADERSHIP SKILLS DEVELOPMENT. THE PROGRAM'S MISSION IS TO IDENTIFY, CULTIVATE AND INSPIRE SUCCESSIVE GENERATIONS OF COMMUNITY LEADERS, BY EXAMINING CRITICAL ISSUES AND RESOURCES, TO ENSURE THE SOCIAL, CULTURAL AND ECONOMIC PROSPERITY OF THE MINNEAPOLIS-SAINT PAUL REGION. FOR MORE THAN 40 YEARS, LEADERSHIP TWIN CITIES HAS INFORMED MORE THAN 2,000 CIVIC LEADERS ABOUT THE CRITICAL ISSUES FACING THE REGION. PARTICIPANTS SPEND ONE DAY EACH MONTH FROM SEPTEMBER-MAY EXPLORING TOPICS SUCH AS ECONOMIC DEVELOPMENT, EDUCATION, ARTS AND CULTURE, COMMUNITY SAFETY, HEALTH CARE AND GOVERNMENT.

Program 3
Expenses: $308,538 Revenue: $0

KEYSTONE: MINNESOTA KEYSTONE PROGRAM PROMOTES CORPORATE PHILANTHROPY BY RECOGNIZING AND HONORING COMPANIES THAT DONATE AT LEAST 2% OF THEIR PRE-TAX EARNINGS TO CHARITABLE ORGANIZATIONS. QUALIFYING...

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KEYSTONE: MINNESOTA KEYSTONE PROGRAM PROMOTES CORPORATE PHILANTHROPY BY RECOGNIZING AND HONORING COMPANIES THAT DONATE AT LEAST 2% OF THEIR PRE-TAX EARNINGS TO CHARITABLE ORGANIZATIONS. QUALIFYING COMPANIES HAVE AN OPERATING PRESENCE IN MINNESOTA AND DONATE CASH, IN-KIND DONATIONS, INCLUDING PRO-BONO SERVICES, AND/OR EMPLOYEE PAID VOLUNTEER TIME. MINNESOTA KEYSTONE COMPANIES RECEIVE RECOGNITION ON THE MINNESOTA KEYSTONE WEBSITE AND AT AN ANNUAL EVENT. MINNESOTA KEYSTONE HAS BEEN OPERATING CONSISTENTLY SINCE 1976 AND IS A GREAT REFLECTION OF MINNESOTA'S SPIRIT OF GENEROSITY AND SENSE OF COMMUNITY.

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,480,569
Program Service Revenue $133,860
Investment Income $0
Other Revenue $3,259
TOTAL REVENUE $1,617,688

Expense Breakdown

Grants Paid $26,500
Salaries & Benefits $1,170,757
Fundraising Expenses $0
Program Expenses $2,061,030
Other Expenses $1,060,439
TOTAL EXPENSES $2,257,696

Year-over-Year Comparison

2023 2022 Change
Revenue $1,617,688 $1,612,535 +0.0%
Expenses $2,257,696 $2,000,512 +0.1%
Net Income $-640,008 $-387,977 +0.6%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
4
Independent Members
3
Employees
N/A
Volunteers
85

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
$277,734
Total Directors
4
$277,734
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CASSIE NELSON CHAIR 1.00
Officer Director
$0 $0 $0
DAVID PRINCE TREASURER 1.00
Officer Director
$0 $0 $0
JONATHAN WEINHAGEN FORMER PRESIDENT/CEO 19.00
Officer Director
$0 $43,173 $277,734
DARREL GERMAN BOARD CHAIR 1.00
Officer Director
$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 No data No data No data No data
2023 $1,617,688 $2,257,696 $872,882 $-640,008
2022 $1,612,535 $2,000,512 $1,336,749 $-387,977
2021 $1,731,380 $1,754,053 $1,478,296 $-22,673
2020 $1,671,491 $1,080,874 $1,643,579 $590,617
2019 $786,008 $726,489 $530,493 $59,519
2018 $456,070 $399,326 $403,073 $56,744
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