MITCHELL AREA CHAMBER OF COMMERCE

EIN: 460166147

MITCHELL, SD

Total Revenue
$1,299,978
Total Expenses
$1,421,939
Total Assets
$3,033,547
Net Assets
$2,481,432
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
1921
Legal Domicile
SD
Principal Officer
MIKE LAURITSEN
Phone
6059965567
Tax Period
2024-10-01 to 2025-09-30

MITCHELL AREA CHAMBER OF COMMERCE, founded in 1921, is a community nonprofit that reported $1.2M in total revenue in fiscal year 2017. Revenue decreased 5% compared to the prior year.

Mission

TO PROVIDE LEADERSHIP TO UNIFY COMMUNITY ACTION THAT ENHANCES THE BUSINESS ENVIRONMENT AND THE QUALITY OF LIFE OF THE MITCHELL AREA. THE ORGANIZATION PROMOTES THE GROWTH OF BUSINESSES LOCATED WITHIN THE DESIGNATED AREAS AROUND MITCHELL, SD AND PROMOTES VISITATION/TOURISM TO THE MITCHELL 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 $336,843
Program Service Revenue $213,542
Investment Income $26,273
Other Revenue $723,320
TOTAL REVENUE $1,299,978

Expense Breakdown

Grants Paid $0
Salaries & Benefits $609,358
Fundraising Expenses $0
Program Expenses $1,421,939
Other Expenses $812,581
TOTAL EXPENSES $1,421,939

Year-over-Year Comparison

2024 2023 Change
Revenue $1,299,978 $1,478,069 -0.1%
Expenses $1,421,939 $1,480,870 0.0%
Net Income $-121,961 $-2,801 +42.5%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Governance

Voting Members
11
Independent Members
11
Employees
45
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
6
$336,810
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KRISTY BERG CHAIR 1.00
Officer Director
$0 $0 $0
KARISA HART VICE-CHAIR 1.00
Officer Director
$0 $0 $0
MICHELLE WHITE TREASURER 1.00
Officer Director
$0 $0 $0
BRIAN LOKEN DIRECTOR 1.00
Director
$0 $0 $0
JENNIFER GADES DIRECTOR 1.00
Director
$0 $0 $0
CRAIG ENGELLAND DIRECTOR 1.00
Director
$0 $0 $0
LORIE HANSON DIRECTOR 1.00
Director
$0 $0 $0
BRAD ZIMMERMAN DIRECTOR 1.00
Director
$0 $0 $0
ERIC GIBLIN DIRECTOR 1.00
Director
$0 $0 $0
JACQSON COLLINS DIRECTOR 1.00
Director
$0 $0 $0
KIMBERLY LOFGREN CFO 28.00
Officer
$83,858 $2,676 $111,240
MIKE LAURITSEN CEO 8.00
Officer
$0 $3,022 $125,222
GERI BECK INTERIM VICE 8.00
Officer
$19,747 $2,545 $100,348
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 $1,299,978 $1,421,939 $3,033,547 $-121,961
2024 $1,478,069 $1,480,870 $3,259,686 $-2,801
2023 $1,446,169 $1,435,765 $3,199,339 $10,404
2022 $1,365,981 $1,227,708 $3,129,945 $138,273
2021 $1,597,994 $1,231,108 $3,297,857 $366,886
2020 $1,120,595 $1,129,162 $2,664,231 $-8,567
2019 $1,255,470 $1,163,515 $2,119,811 $91,955
2018 $1,179,776 $1,174,452 $2,042,509 $5,324
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