MITCHELL AREA 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

1921

Legal Domicile

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 $1.3M in total revenue in fiscal year 2024. Revenue decreased 12% 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.

Program Service Accomplishments

Program 1

Expenses: $253,613 Revenue: $213,542

THE CONVENTION AND VISITORS BUREAU (CVB) IS A DIVISION OF THE MITCHELL AREA CHAMBER OF COMMERCE. THE CVB PROVIDES STAFFING OF THE MITCHLL AREA VISITOR INFORMATION CENTER (6 PART-TIME EMPLOYEES, AND 3 VOLUNTEERS). DURING THE YEAR THE ORGANIZATION ASSISTED WITH STAFFING FOR VARIOUS CONVENTIONS HELD IN THE CITY, GENERALLY PROVIDING ONE OR TWO VOLUNTEERS PER EVENT. THE CVB ALSO ASSISTS IN THE FUNDING, ADVERTISING, AND HOPITALITY OF VARIOUS ATHLETIC EVENTS HELD WITHIN THE CITY OF MITCHELL.

Program 2

REGIONAL MARKETING - THROUGH THE ORGANIZATION'S REGIONAL MARKETING COMMITTEE VARIOUS EVENTS ARE PROMOTED TO DRAW PEOPLE TO THE REGION. SPECIFIC EVENTS PARTIALLY FUNDED THROUGH THE COMMITTEE'S...

REGIONAL MARKETING - THROUGH THE ORGANIZATION'S REGIONAL MARKETING COMMITTEE VARIOUS EVENTS ARE PROMOTED TO DRAW PEOPLE TO THE REGION. SPECIFIC EVENTS PARTIALLY FUNDED THROUGH THE COMMITTEE'S ACTIVITIES WERE A MEMORIAL WEEKEND EVENT HELD IN MITCHELL, THE OUTKAST CAR CLUB HOT ROD CONVENTION AND CAR SHOW, THE CORN PALACE RODEO, THE CITY OF MITCHELL PARADE OF LIGHTS, AND THE SHAWN SANDOVAL MEMORIAL BASEBALL TOURNEY.

Program 3

Expenses: $23,613

COMMITTEES - THE ORGANIZATION HAS SEVERAL COMMITTEES WHICH WORK TO PROMOTE LOCAL BUSINESS AND LEADERSHIP WITHIN THE COMMUNITY. THESE COMMITTEES INCLUDE THE AMBASSADORS COMMITTEE, AGRIBUSINESS...

COMMITTEES - THE ORGANIZATION HAS SEVERAL COMMITTEES WHICH WORK TO PROMOTE LOCAL BUSINESS AND LEADERSHIP WITHIN THE COMMUNITY. THESE COMMITTEES INCLUDE THE AMBASSADORS COMMITTEE, AGRIBUSINESS COMMITTEE, MEMBERSHIP COMMITTEE, HEALTH SERVICES COMMITTEE, GOVERNMENT AFFAIRS COMMITTEE, AND CITY BEAUTIFICATION COMMITTEE.

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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 $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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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

Employees

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

$336,810

Total Directors

Key Employees

Highest Compensated

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