OWATONNA AREA CHAMBER OF COMMERCE … - 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

1946

Legal Domicile

Principal Officer

BRAD MEIER

Phone

5074517970

Tax Period

2024-01-01 to 2024-12-31

OWATONNA AREA CHAMBER OF COMMERCE AND TOURISM, founded in 1946, is a small nonprofit that reported $998K in total revenue in fiscal year 2024. Revenue fell 37% from the prior year — a significant decline worth monitoring.

Mission

TO PRODUCE CONTINUING BUSINESS DEVELOPMENT AND TO PROVIDE SERVICES FOR THE COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $514,702 Revenue: $693,770

TO PROVIDE SERVICES TO BUSINESSES AND INDIVIDUALS IN THE COMMUNITY.

Program 2

Expenses: $320,587 Revenue: $304,523

TO PROVIDE ENHANCEMENT OF TOURISM TO THE AREA.

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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 $400,356

Program Service Revenue $584,181

Investment Income $13,756

Other Revenue $0

TOTAL REVENUE $998,293

Expense Breakdown

Grants Paid $0

Salaries & Benefits $540,051

Fundraising Expenses $14,513

Program Expenses $835,289

Other Expenses $496,086

TOTAL EXPENSES $1,036,137

Year-over-Year Comparison

	2024	2023	Change
Revenue	$998,293	$1,573,829	-0.4%
Expenses	$1,036,137	$969,632	+0.1%
Net Income	$-37,844	$604,197	-1.1%

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

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

125

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

$108,158

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRAD MEIER	CEO	40.00	Officer	$108,158	$0	$108,158
KELLY BOOMGARDEN	DIRECTOR	1.00	Director	$0	$0	$0
SHANNON CLIFF	DIRECTOR	1.00	Director	$0	$0	$0
BONNIE COLE	DIRECTOR	1.00	Director	$0	$0	$0
RANDALL DOYAL	DIRECTOR	1.00	Director	$0	$0	$0
MEGAN JENNIGES	DIRECTOR	1.00	Director	$0	$0	$0
JOLENE KUNKEL	DIRECTOR	1.00	Director	$0	$0	$0
LORI LAIR	DIRECTOR	1.00	Director	$0	$0	$0
DOUG MEIER	DIRECTOR	1.00	Director	$0	$0	$0
SAMMY MIRANDA	DIRECTOR	1.00	Director	$0	$0	$0
SCOTT MOHS	DIRECTOR	1.00	Director	$0	$0	$0
RICH PETTET	DIRECTOR	1.00	Director	$0	$0	$0
TODD TROUT	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTY TRYHUS	DIRECTOR	1.00	Director	$0	$0	$0
SYD BRIGGS	CHAIR	1.00	Officer	$0	$0	$0
DEB GILLARD	VICE CHAIR	1.00	Officer	$0	$0	$0
MIKE HERMAN	PAST CHAIR	1.00	Officer	$0	$0	$0
OSCAR MAZARIEGO	TREASURER	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	$998,293	$1,036,137	$1,505,378	$-37,844
2023	$1,573,829	$969,632	$1,472,159	$604,197
2022	$825,985	$830,371	$922,191	$-4,386
2021	$799,887	$705,697	$915,210	$94,190
2020	$628,417	$623,104	$790,923	$5,313
2019	$702,216	$762,240	$737,552	$-60,024
2018	$714,097	$700,344	$778,680	$13,753

OWATONNA AREA CHAMBER OF COMMERCE AND TOURISM