MINNESOTA CHAMBER OF COMMERCE AND … - 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

1909

Legal Domicile

Principal Officer

DOUG LOON

Phone

6512924650

Tax Period

2023-10-01 to 2024-09-30

MINNESOTA CHAMBER OF COMMERCE AND INDUSTRY, founded in 1909, is a community nonprofit that reported $7.9M in total revenue in fiscal year 2023. Revenue grew 16% year-over-year, indicating healthy expansion.

Mission

THE MINNESOTA CHAMBER OF COMMERCE PROACTIVELY LEADS THE BUSINESS COMMUNITY STATEWIDE TO: ADVANCE PRO-BUSINESS, RESPONSIBLE MINNESOTA PUBLIC POLICY THAT CREATES JOBS AND GROWS THE ECONONY; PROVDE MEMBER SERVICES TO ADDRESS EVOLVING BUSINESS NEEDS; BE NON PARTISAN

Program Service Accomplishments

Program 1

LEGISLATIVE: TO BE AN ADVOCATE FOR MINNESOTA BUSINESSES BY LOBBYING AT THE STATE CAPITOL, TESTIFYING IN COURTS AND INTERVENING BEFORE STATE REGULATORY AGENCIES. WE ALSO CONDUCT AND SPONSOR A BROAD...

LEGISLATIVE: TO BE AN ADVOCATE FOR MINNESOTA BUSINESSES BY LOBBYING AT THE STATE CAPITOL, TESTIFYING IN COURTS AND INTERVENING BEFORE STATE REGULATORY AGENCIES. WE ALSO CONDUCT AND SPONSOR A BROAD RANGE OF RESEARCH WHICH SUPPORTS OUR WORK ON SPECIFIC POLICY ISSUES. OBJECTIVE: TO MAKE MINNESOTA A COMPETITIVE PLACE TO DO BUSINESS.MEMBERS SERVED: 6,300

Program 2

GRASSROOTS: TO KEEP OUR MEMBERS INFORMED ON ISSUES THAT MAY AFFECT THEIR BUSINESS. COMMUNICATIONS INCLUDE A MONTHLY NEWSLETTER, BIMONTHLY LEGISLATIVE EMAIL UPDATES, ISSUE ALERTS AND A DAILY...

GRASSROOTS: TO KEEP OUR MEMBERS INFORMED ON ISSUES THAT MAY AFFECT THEIR BUSINESS. COMMUNICATIONS INCLUDE A MONTHLY NEWSLETTER, BIMONTHLY LEGISLATIVE EMAIL UPDATES, ISSUE ALERTS AND A DAILY E-NEWSLETTER ON CURRENT EVENTS. OBJECTIVE: TO GIVE OUR MEMBERS THE NECESSARY INFORMATION FOR THEM TO CONTACT THEIR LAWMAKERS AND TO KEEP UPDATED ON BUSINESS ISSUES.MEMBERS SERVED: 6,300

Program 3

GROW MINNESOTA!: BUSINESS RETENTION, EXPANSION AND ASSISTANCE. GROW MINNESOTA! IS A PRIVATE-SECTOR INITIATIVE OF THE MINNESOTA CHAMBER OF COMMERCE IN PARTNERSHIP WITH NEARLY 90 LOCAL CHAMBERS AND...

GROW MINNESOTA!: BUSINESS RETENTION, EXPANSION AND ASSISTANCE. GROW MINNESOTA! IS A PRIVATE-SECTOR INITIATIVE OF THE MINNESOTA CHAMBER OF COMMERCE IN PARTNERSHIP WITH NEARLY 90 LOCAL CHAMBERS AND ECONOMIC DEVELOPMENT ORGANIZATIONS. THE PROGRAM FOCUSES ON RETAINING AND EXPANDING COMPANIES IN MINNESOTA.OBJECTIVE: TO THANK EMPLOYERS FOR THEIR COMMITMENT TO MINNESOTA AND TO ASSIST WITH ISSUES THAT IMPEDE THEIR GROWTH AND PROVIDE SUCH RESOURCES AS THE FUNDING, EXPORTING AND WORKFORCE GUIDEBOOKS.

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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 $30,600

Program Service Revenue $7,610,748

Investment Income $108,687

Other Revenue $199,792

TOTAL REVENUE $7,949,827

Expense Breakdown

Grants Paid $50,000

Salaries & Benefits $4,212,727

Fundraising Expenses $0

Other Expenses $3,587,024

TOTAL EXPENSES $7,849,751

Year-over-Year Comparison

	2023	2022	Change
Revenue	$7,949,827	$6,857,191	+0.2%
Expenses	$7,849,751	$6,552,464	+0.2%
Net Income	$100,076	$304,727	-0.7%

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

100

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

$846,131

Total Directors

$623,579

Key Employees

$339,524

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DOUG LOON	PRESIDENT/CEO	36.00	Officer Director	$573,300	$50,279	$623,579
JILL BOLLETTIERI	CHAIR	2.00	Officer Director	$0	$0	$0
BILL KEEGAN	CHAIR-ELECT	2.00	Officer Director	$0	$0	$0
ANGELA HEIKES	SECRETARY/TREASURER	2.00	Officer Director	$0	$0	$0
MARY JO WILLIAMSON	PAST CHAIR	2.00	Officer Director	$0	$0	$0
WILL HALE	DIRECTOR	1.00	Director	$0	$0	$0
ROBIN ANTHONY-EVENSON	DIRECTOR	1.00	Director	$0	$0	$0
WENDY UNGLAUB	DIRECTOR	1.00	Director	$0	$0	$0
KENDALL GRIFFITH	DIRECTOR	1.00	Director	$0	$0	$0
MELISSA BRINKMAN	DIRECTOR	1.00	Director	$0	$0	$0
LESTER BAGLEY	DIRECTOR	1.00	Director	$0	$0	$0
STACIE HOLDEN	DIRECTOR	1.00	Director	$0	$0	$0
GEOFF BAKER	DIRECTOR	1.00	Director	$0	$0	$0
JACK DAGGETT	DIRECTOR	1.00	Director	$0	$0	$0
BEN THURINGER	DIRECTOR	1.00	Director	$0	$0	$0
LORI DAVIES	DIRECTOR	1.00	Director	$0	$0	$0
BOB GARDNER	DIRECTOR	1.00	Director	$0	$0	$0
AMBER HOLM	DIRECTOR	1.00	Director	$0	$0	$0
KRISTY BARSE	DIRECTOR	1.00	Director	$0	$0	$0
ERIC BLACK	DIRECTOR	1.00	Director	$0	$0	$0
LESLIE DOCKAN	DIRECTOR	1.00	Director	$0	$0	$0
KALYN HOVE	DIRECTOR	1.00	Director	$0	$0	$0
LINDA JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
KRISTI CARLSON	DIRECTOR	1.00	Director	$0	$0	$0
ROSS WIDMOYER	DIRECTOR	1.00	Director	$0	$0	$0
RYAN KESSLER	DIRECTOR	1.00	Director	$0	$0	$0
HEIDI LARSON	DIRECTOR	1.00	Director	$0	$0	$0
BROOKE LEE	DIRECTOR	1.00	Director	$0	$0	$0
MARY LOEFFELHOLZ	DIRECTOR	1.00	Director	$0	$0	$0
TODD PAULSON	DIRECTOR	1.00	Director	$0	$0	$0
CARLOS SEOANE	DIRECTOR	1.00	Director	$0	$0	$0
MERCEDES JACKSON	DIRECTOR	1.00	Director	$0	$0	$0
TOM RADOVICH	DIRECTOR	1.00	Director	$0	$0	$0
ALYZA BOHBOT JAMES	DIRECTOR	1.00	Director	$0	$0	$0
STEVE ROSENAU	DIRECTOR	1.00	Director	$0	$0	$0
JAKE REINT	DIRECTOR	1.00	Director	$0	$0	$0
KARI RIHM	DIRECTOR	1.00	Director	$0	$0	$0
LAURA OBERST	DIRECTOR	1.00	Director	$0	$0	$0
SANDY KARNOWSKI	DIRECTOR	1.00	Director	$0	$0	$0
BART PRINS	DIRECTOR	1.00	Director	$0	$0	$0
ANTHONY WILLIAMS	DIRECTOR	1.00	Director	$0	$0	$0
ANNETTE KOJETIN	VICE PRESIDENT/CFO	35.00	Officer	$187,484	$35,068	$222,552
LAURA BORDELON	SR. VICE PRESIDENT	38.00	Key Emp	$298,243	$41,281	$339,524
JENNIFER BYERS	EXEC DIR MN CHAMBER FDN	35.00	Highest	$187,424	$14,151	$201,575
BENTLEY GRAVES	DIRECTOR	40.00	Highest	$175,602	$20,599	$196,201
ELIZABETH KADOUN	VICE PRESIDENT	40.00	Highest	$166,867	$27,825	$194,692
JENNIFER MUNYER	VICE PRESIDENT	35.00	Highest	$164,780	$15,050	$179,830
VICTORIA STUTE	VICE PRESIDENT	12.00	Highest	$158,833	$12,881	$171,714

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	$7,949,827	$7,849,751	$10,265,599	$100,076
2023	$6,857,191	$6,552,464	$9,574,472	$304,727
2022	$6,794,853	$6,851,685	$9,629,970	$-56,832
2021	$6,035,761	$4,653,412	$7,317,783	$1,382,349
2020	$6,333,173	$5,925,406	$6,135,535	$407,767
2019	$6,436,544	$5,414,074	$5,741,019	$1,022,470
2018	$6,184,280	$6,336,580	$5,140,361	$-152,300

MINNESOTA CHAMBER OF COMMERCE AND INDUSTRY