GREATER MADISON CHAMBER OF COMMERCE

EIN: 460160860

MADISON, SD

Total Revenue
$418,044
Total Expenses
$424,681
Total Assets
$80,826
Net Assets
$46,750
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
1930
Legal Domicile
SD
Principal Officer
ERIC HORTNESS
Phone
6052562454
Tax Period
2024-01-01 to 2024-12-31

GREATER MADISON CHAMBER OF COMMERCE, founded in 1930, is a small nonprofit that reported $325K in total revenue in fiscal year 2018. Revenue grew 8% year-over-year, indicating healthy expansion.

Mission

TO PROMOTE MEMBERS, THE COMMUNITY, AND ECONOMIC DEVELOPMENT RESULTING IN A BETTER QUALITY OF LIFE IN THE MADISON, SD AREA

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $110,881
Program Service Revenue $287,077
Investment Income $1,238
Other Revenue $18,848
TOTAL REVENUE $418,044

Expense Breakdown

Grants Paid $9,378
Salaries & Benefits $196,019
Fundraising Expenses $0
Program Expenses $225,121
Other Expenses $219,284
TOTAL EXPENSES $424,681

Year-over-Year Comparison

2024 2023 Change
Revenue $418,044 $406,991 +0.0%
Expenses $424,681 $406,049 +0.0%
Net Income $-6,637 $942 -8.0%
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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Governance

Voting Members
10
Independent Members
10
Employees
3
Volunteers
100

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
$0
Total Directors
11
$95,683
Key Employees
1
$95,683
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ERIC HORTNESS EXECUTIVE DIRECTOR 040.00
Director Key Emp
$95,683 $0 $95,683
SARAH CRONIN DIRECTOR 001.00
Director
$0 $0 $0
SAVANNAH OLINGER VICE PRESIDENT 001.00
Officer Director
$0 $0 $0
BETH BERNARD DIRECTOR 001.00
Director
$0 $0 $0
TRAVIS OLSON PRESIDENT 001.00
Officer Director
$0 $0 $0
MELISSA PALMQUIST DIRECTOR 001.00
Director
$0 $0 $0
RANDY MOREHOUSE DIRECTOR 001.00
Director
$0 $0 $0
TYLER RUHD DIRECTOR 001.00
Director
$0 $0 $0
DEB ROACH DIRECTOR 001.00
Director
$0 $0 $0
JESSE LETSCHE DIRECTOR 001.00
Director
$0 $0 $0
TAYLOR BLOOM SECRETARY/TREASURER 001.00
Officer 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 $418,044 $424,681 $80,826 $-6,637
2023 $406,991 $406,049 $71,990 $942
2022 $385,406 $392,186 $68,231 $-6,780
2021 $441,367 $452,253 $82,840 $-10,886
2020 $407,412 $419,486 $126,515 $-12,074
2019 $321,996 $324,645 $101,356 $-2,649
2018 $325,227 $348,217 $88,084 $-22,990
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