Aberdeen Area Chamber of Commerce

EIN: 460103710

Aberdeen, SD

Total Revenue
$706,100
Total Expenses
$835,258
Total Assets
$751,795
Net Assets
$168,247
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1934
Legal Domicile
SD
Principal Officer
Gail Ochs
Phone
6052252860
Tax Period
2023-01-01 to 2023-12-31

Aberdeen Area Chamber of Commerce, founded in 1934, is a small nonprofit that reported $706K in total revenue in fiscal year 2023. Expenses of $835K exceeded revenue, resulting in a 18% operating deficit.

Mission

To serve as the leading business advocate for the economic health and vitality of our membership, our community, and the greater Aberdeen area.

Program Service Accomplishments

Program 1

The Aberdeen Area Chamber of Commerce has been an established voluntary non-profit membership organization since 1884. Today, we are 584 members strong with over 350 active volunteers that help...

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The Aberdeen Area Chamber of Commerce has been an established voluntary non-profit membership organization since 1884. Today, we are 584 members strong with over 350 active volunteers that help facilitate and participate in the Chamber's activities and events. As a non-profit, 501(c)(6) corporation, the Chamber supports and speaks for those engaged in business, industry, agriculture, transportation, education, healthcare and private sector enterprises. In a nutshell, we seek to make commerce happen through business expansion and attraction, as well as the advocacy efforts that help improve business in our area.Our vision is to bring businesses and individuals together to build consensus on business issues and community goals. Our mission is to serve as the leading business advocate for the economic health and vitality of our membership, our community, and the greater Aberdeen area. The Chamber pursues its vision and mission by:- Serving the region as the central networking organization from which ideas, resources and assets can be drawn;- Unifying and advancing membership, community and regional interests;- Cultivating future leadership and advancing opportunities locally and regionally;- Educating businesses and individuals on workforce readiness and development issues; and- Promoting and encouraging growth of the membership, community, and area.The Chamber is funded by membership investments and event revenue. We facilitate several community based programs and initiatives with the assistance of volunteers who serve within the committee structure. Committees include healthcare, workforce and education, transportation, agriculture, government affairs, community pride, military/veterans, the network (formerly young professionals), diplomats and ambassadors. In addition, we host community events and several programs including, but not limited to, the ABBY Awards, the Community Champions Luncheon, New Teacher/Faculty Luncheon, Agriculture Appreciation Banquet, Business After Hours, Residential Cleanup, and the Community Gift Certificate Program.

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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 $108,200
Program Service Revenue $596,497
Investment Income $665
Other Revenue $738
TOTAL REVENUE $706,100

Expense Breakdown

Grants Paid $0
Salaries & Benefits $352,555
Fundraising Expenses $0
Other Expenses $482,703
TOTAL EXPENSES $835,258

Year-over-Year Comparison

2023 2022 Change
Revenue $706,100 $729,237 0.0%
Expenses $835,258 $789,578 +0.1%
Net Income $-129,158 $-60,341 +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

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Liquidity & Cash Position

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Governance

Voting Members
16
Independent Members
16
Employees
6
Volunteers
350

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
7
$159,041
Total Directors
18
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Kellie Ecker Past President 1.00
Officer Director
$0 $0 $0
Katie Washnok President 1.00
Officer Director
$0 $0 $0
Cam Schock Vice President 1.00
Officer Director
$0 $0 $0
Zach Flakas Treasurer 1.00
Officer Director
$0 $0 $0
Kila LeGrand Secretary 1.00
Officer Director
$0 $0 $0
Brodie Meuller Director 0.50
Director
$0 $0 $0
Mike Sommers Director 0.50
Director
$0 $0 $0
Spencer Sommers Director 0.50
Director
$0 $0 $0
Courtney Rott Director 0.50
Director
$0 $0 $0
Jarrett Rix Director 0.50
Director
$0 $0 $0
Tom Cogley Director (until July '23) 0.20
Director
$0 $0 $0
Mike Quast Director 0.50
Director
$0 $0 $0
Tanner White Director 0.50
Director
$0 $0 $0
Daryl Thoennes Director 0.50
Director
$0 $0 $0
Jane Kuhn Director (until Oct '23) 0.30
Director
$0 $0 $0
Dawn Thorstenson Director 0.50
Director
$0 $0 $0
Marcus Garstecki Director 0.50
Director
$0 $0 $0
Alexandra Grieben Director 0.50
Director
$0 $0 $0
Gail Ochs CEO 40.00
Officer
$90,400 $17,065 $107,465
Kathy Bjerke Finance & Administration 40.00
Officer
$46,024 $5,552 $51,576
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 $706,100 $835,258 $751,795 $-129,158
2022 $729,237 $789,578 $858,465 $-60,341
2021 $813,796 $703,443 $1,162,237 $110,353
2020 $616,711 $679,320 $672,956 $-62,609
2019 $744,965 $685,661 $541,918 $59,304
2018 $732,380 $697,940 $447,456 $34,440
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