FAIRMONT AREA CHAMBER OF COMMERCE

EIN: 410801613

FAIRMONT, MN

Total Revenue
$309,547
Total Expenses
$284,014
Total Assets
$301,586
Net Assets
$229,766
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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
1926
Legal Domicile
MN
Principal Officer
KANDI MENNE
Phone
5072355547
Tax Period
2023-01-01 to 2023-12-31

FAIRMONT AREA CHAMBER OF COMMERCE, founded in 1926, is a small nonprofit that reported $310K in total revenue in fiscal year 2023. Revenue decreased 6% compared to the prior year. Expenses of $284K left a modest 8% surplus.

Mission

CHAMBER OF COMMERCE

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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 $157,616
Program Service Revenue $151,409
Investment Income $522
Other Revenue $0
TOTAL REVENUE $309,547

Expense Breakdown

Grants Paid $0
Salaries & Benefits $116,168
Fundraising Expenses $0
Other Expenses $167,846
TOTAL EXPENSES $284,014

Year-over-Year Comparison

2023 2022 Change
Revenue $309,547 $328,465 -0.1%
Expenses $284,014 $273,659 +0.0%
Net Income $25,533 $54,806 -0.5%
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
12
Independent Members
12
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
$64,884
Total Directors
1
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KANDI MENNE PRESIDENT 40.00
Officer
$64,884 $0 $64,884
AARON SPELTZ TREASURER N/A
Director
$0 $0 $0
JOE EVANS VICE CHAIR N/A
Officer
$0 $0 $0
KEITH HOYE CHAIR N/A
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
2025 No data No data No data No data
2024 No data No data No data No data
2023 $309,547 $284,014 $301,586 $25,533
2022 $328,465 $273,659 $301,016 $54,806
2021 $333,743 $285,878 $267,116 $47,865
2020 $223,562 $233,561 $224,934 $-9,999
2019 $275,082 $290,371 $226,514 $-15,289
2018 $290,599 $293,313 $199,562 $-2,714
2017 $306,084 $301,591 $198,315 $4,493
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