NORTHFIELD AREA CHAMBER OF COMMERCE

EIN: 410789543

NORTHFIELD, MN

Total Revenue
$476,757
Total Expenses
$573,436
Total Assets
$449,384
Net Assets
$439,139
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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
1920
Legal Domicile
MN
Principal Officer
JANE BARTHO
Phone
5076455604
Tax Period
2023-01-01 to 2023-12-31

NORTHFIELD AREA CHAMBER OF COMMERCE, founded in 1920, is a small nonprofit that reported $477K in total revenue in fiscal year 2023. Revenue decreased 13% compared to the prior year. Expenses of $573K exceeded revenue, resulting in a 20% operating deficit.

Mission

TO ADVANCE THE COMMERCIAL, ECONOMIC, INDUSTRIAL, PROFESSIONAL, AND CIVIC WELFARE OF THE NORTHFIELD AREA AND TO SUPPORT ALL THOSE ACTIVITIES BELIEVED TO BE BENEFICIAL TO THE COMMUNITY AND 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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $7,183
Program Service Revenue $469,451
Investment Income $123
Other Revenue $0
TOTAL REVENUE $476,757

Expense Breakdown

Grants Paid $0
Salaries & Benefits $213,532
Fundraising Expenses $0
Other Expenses $359,904
TOTAL EXPENSES $573,436

Year-over-Year Comparison

2023 2022 Change
Revenue $476,757 $548,356 -0.1%
Expenses $573,436 $423,213 +0.4%
Net Income $-96,679 $125,143 -1.8%
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

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Governance

Voting Members
10
Independent Members
10
Employees
4
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
3
$60,476
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JANE BARTHO CURRENT DIRE 40.00
Officer
$60,476 $0 $60,476
CATHY CARLSON BOARD MEMBER 2.00
Director
$0 $0 $0
AMY CERNAVA BOARD MEMBER 2.00
Director
$0 $0 $0
DR MATT HILLMANN BOARD MEMBER 2.00
Director
$0 $0 $0
DR TRACY JONKMAN SECRETARY 2.00
Director
$0 $0 $0
BEN MARTIG BOARD MEMBER 2.00
Director
$0 $0 $0
PETE MERGENS BOARD MEMBER 2.00
Director
$0 $0 $0
DR HASSEL ANDRE MORRISON BOARD MEMBER 2.00
Director
$0 $0 $0
AMY PETERSON BOARD MEMBER 2.00
Director
$0 $0 $0
SAM RINGSTAD TREASURER 2.00
Officer Director
$0 $0 $0
LAURA STELTER BOARD CHAIR 2.00
Officer Director
$0 $0 $0
CHAU TRUONG VICE CHAIR 2.00
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 $476,757 $573,436 $449,384 $-96,679
2022 $548,356 $423,213 $544,627 $125,143
2021 $501,115 $399,904 $419,023 $101,211
2020 $460,276 $344,875 $429,516 $115,401
2019 $467,916 $383,672 $198,800 $84,244
2018 $378,905 $370,147 $109,819 $8,758
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