DETROIT LAKES REGIONAL CHAMBER OF … - 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

1977

Legal Domicile

Principal Officer

JACKIE BUBOLTZ

Phone

2188479202

Tax Period

2024-07-01 to 2025-06-30

DETROIT LAKES REGIONAL CHAMBER OF COMMERCE, founded in 1977, is a small nonprofit that reported $493K in total revenue in fiscal year 2024.

Mission

TO ADVANCE A VIBRANT BUSINESS AND TOURISM ECONOMY THROUGH SERVICE, ADVOCACY, NETWORKING AND INNOVATION. THE VISION OF THE CHAMBER IS "ECONOMIC VITALITY FOR ALL."

Program Service Accomplishments

Program 1

MEMBERSHIP: THE CHAMBER IS A VOLUNTARY ORGANIZATION OF OVER 400 BUSINESSES, ORGANIZATIONS AND INDIVIDUALS BANDED THOGETHER TO ADVANCE COMMON INTEREST IN THE AREA OF COMMERCE, INDUSTRY, AGRICULTURE...

MEMBERSHIP: THE CHAMBER IS A VOLUNTARY ORGANIZATION OF OVER 400 BUSINESSES, ORGANIZATIONS AND INDIVIDUALS BANDED THOGETHER TO ADVANCE COMMON INTEREST IN THE AREA OF COMMERCE, INDUSTRY, AGRICULTURE, TOURISM, RETAILING, RECREATION. TRANPORTATION, EDUCATION, GOVERNMENT, BUSINESS DEVELOPMENT AND COMMUNITY DEVELOPTMENT. THE CHAMBER MEMBERSHIP IS MADE UP OF SMALL AND LARGE BUSINESSES AND ORGANIZATIONS WHICH INCLUDES PEOPLE FROM EVERY SEGMENT OF THE COMMUNITY, PEOPLE WHO CARE ABOUT THE DETROIT LAKES AREA, PEOPLE WHO ARE WILLING TO INVEST THEIR MONEY, TIME AND EFFORT IN CREATING A HEALTHY ENVIRONMENT IN WHICH TO CONDUCT BUSINESS.

Program 2

TOURISM: THE TOURISM COMMITTEE DEVELOPS AND ACTIVELY PROMOTES THE DETROIT LAKES REGION AS A YEAR-ROUND TOURISM DESTINATION. IN FY 2023-2024 THE CHAMBER SERVED 2,776 WALK-IN'S, 2,892 PHONE CALLS AND...

Program 3

PROMOTION AND EVENTS: DEVELOPS AND COORDINATES COMMUNITY RETAIL PROMOTIONS THAT ENHANCE AND CREATE AN AWARENESS OF THE DETROIT LAKES AREA AS THE REGION'S SHOPPING HUB FOR GOODS AND SERVICES. THESE...

PROMOTION AND EVENTS: DEVELOPS AND COORDINATES COMMUNITY RETAIL PROMOTIONS THAT ENHANCE AND CREATE AN AWARENESS OF THE DETROIT LAKES AREA AS THE REGION'S SHOPPING HUB FOR GOODS AND SERVICES. THESE ANNUAL EVENTS INCLUDE ART IN THE PARK, WE-FEST SHUTTLE, BIRD FESTIVAL AND ANNUAL BANQUET DINNER.

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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 (2024)

Revenue Breakdown

Contributions & Grants $172,996

Program Service Revenue $302,878

Investment Income $4,951

Other Revenue $12,073

TOTAL REVENUE $492,898

Expense Breakdown

Grants Paid $0

Salaries & Benefits $262,694

Fundraising Expenses $0

Other Expenses $276,521

TOTAL EXPENSES $539,215

Year-over-Year Comparison

	2024	2023	Change
Revenue	$492,898	$505,020	0.0%
Expenses	$539,215	$511,607	+0.1%
Net Income	$-46,317	$-6,587	+6.0%

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

N/A

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

$125,117

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JACKIE BUBOLTZ	PRESIDENT	40.00	Officer	$82,608	$0	$82,608
NATE HUNTER	CHAIRMAN	N/A	Director	$0	$0	$0
KIM BETTCHER	CHAIR-ELECT	N/A	Director	$0	$0	$0
JASON KUEHNE	TREASURER	N/A	Director	$0	$0	$0
JEAN ERICKSON	SECRETARY	40.00	Officer	$42,509	$0	$42,509
LIZ HOLZER	DIRECTOR	N/A	Director	$0	$0	$0
STACEY OMBERG	DIRECTOR	N/A	Director	$0	$0	$0
JOE SKOGMO	DIRECTOR	N/A	Director	$0	$0	$0
JENIFER MORTON	DIRECTOR	N/A	Director	$0	$0	$0
CARA FRANK	DIRECTOR	N/A	Director	$0	$0	$0
VAUGHN JOHNSON	DIRECTOR	N/A	Director	$0	$0	$0
SCOTT WENNER	DIRECTOR	N/A	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
2025	$492,898	$539,215	$691,958	$-46,317
2024	$505,020	$511,607	$741,161	$-6,587
2023	$491,664	$481,085	$717,892	$10,579
2022	$458,334	$452,984	$699,143	$5,350
2021	$421,749	$378,250	$681,633	$43,499
2020	$444,466	$456,332	$574,751	$-11,866
2019	$513,971	$518,755	$587,761	$-4,784
2018	$458,774	$468,047	$587,423	$-9,273

DETROIT LAKES REGIONAL CHAMBER OF COMMERCE