BELLE PLAINE CHAMBER OF COMMERCE

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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

1965

Legal Domicile

Principal Officer

BETSY OLLHOFF

Phone

9528734295

Tax Period

2024-07-01 to 2025-06-30

BELLE PLAINE CHAMBER OF COMMERCE, founded in 1965, is a micro nonprofit that reported $1K in total revenue in fiscal year 2024. Revenue fell 98% from the prior year — a significant decline worth monitoring. Expenses of $33K exceeded revenue, resulting in a 2784% operating deficit.

Mission

TO DEVELOP, PROMOTE, ENCOURAGE AND PROTECT THE COMMERCIAL, PROFESSIONAL, FINANCIAL, AND GENERAL BUSINESS INTERESTS OF THE BELLE PLAINE AREA. TO ORGANIZE PROMOTIONS TO BENEFIT THE FAMILIES AND YOUTH OF BELLE PLAINE AS WELL AS TO PROMOTE GOODWILL TOWARDS LOCAL BUSINESSES.

Program Service Accomplishments

Program 1

MN LAWFUL GAMBLING CONDUCTED IN ORDER TO RAISE FUNDS IN SUPPORT OF LOCAL PROGRAMS. LAWFUL PURPOSE EXPENDITURES WERE MADE TO LOCAL SCHOOL DISTRICT, FESTIVAL ORGANIZATION, FOOD SHELF, CITY OF BELLE...

MN LAWFUL GAMBLING CONDUCTED IN ORDER TO RAISE FUNDS IN SUPPORT OF LOCAL PROGRAMS. LAWFUL PURPOSE EXPENDITURES WERE MADE TO LOCAL SCHOOL DISTRICT, FESTIVAL ORGANIZATION, FOOD SHELF, CITY OF BELLE PLAINE AND OTHER NONPROFITS. THESE FUNDS BENEFITTED THOUSANDS OF PEOPLE. TOTAL LAWFUL PURPOSE EXPENDITURES WERE $100,366 IN FISCAL YEAR.

Program 2

Expenses: $14,486 Revenue: $10,353

DUES COLLECTED FROM 130 MEMBERS FOR DEVELOPMENT AND PROMOTION OF BUSINESSES AND CITY OF BELLE PLAINE.

Program 3

Expenses: $2,961 Revenue: $6,539

SPECIAL EVENTS ARE VARIOUS BELLE PLAINE PROMOTIONAL ACTIVITIES WHICH BENEFIT THE CITIZENS AND BUSINESSES OF BELLE PLAINE AND SURROUNDING 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 $500

Program Service Revenue $28,761

Investment Income $0

Other Revenue $-28,129

TOTAL REVENUE $1,132

Expense Breakdown

Grants Paid $86,216

Salaries & Benefits $16,861

Fundraising Expenses $0

Program Expenses $17,447

Other Expenses $-70,427

TOTAL EXPENSES $32,650

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,132	$56,967	-1.0%
Expenses	$32,650	$21,894	+0.5%
Net Income	$-31,518	$35,073	-1.9%

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

121

Employees

Volunteers

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

Total Directors

$15,576

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BETSY OLLHOFF	PRESIDENT	4.00	Officer Director	$0	$0	$0
RENEE POITRA	VICE PRESIDENT	4.00	Officer Director	$0	$0	$0
KARA REITZ	TREASURER	4.00	Officer Director	$0	$0	$0
CHANGEL GAASKJOLEN	DIRECTOR	2.00	Director	$0	$0	$0
HEATHER BORGARDTGENISE ARETZ	EXECUTIVE DIRECTOR	12.00	Director	$15,576	$0	$15,576
TYLOR SCHMIDT	DIRECTOR	2.00	Director	$0	$0	$0
REV NATHAN PHILLIPS	DIRECTOR	2.00	Director	$0	$0	$0
LORI THAEMERT	DIRECTOR	2.00	Director	$0	$0	$0
TRICIA RUUD	DIRECTOR	2.00	Director	$0	$0	$0
CARA COX	DIRECTOR	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
2025	$1,132	$32,650	$110,152	$-31,518
2024	$56,967	$21,894	$141,110	$35,073
2023	$20,660	$17,444	$107,275	$3,216
2022	$26,439	$14,076	$102,822	$12,363
2021	$2,023	$16,783	$90,129	$-14,760
2020	$44,241	$25,253	$104,556	$18,988
2019	$31,521	$16,626	$85,102	$14,895