Moorhead Business Association
- Assets
- $153.3k
- Revenue
- $214.9k
- Investments
- $0.0
- Employees
- 2
- Location
- Moorhead, MN
- Founding
- 09/2012
- Data as of
- 12/2023
- EIN
- 27-4254782
Organization Overview
Moorhead Business Association is located in Moorhead, MN. The organization was established in 2012. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Moorhead Business Association employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Moorhead Business Association is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Moorhead Business Association generated $214.9k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.7% each year. All expenses for the organization totaled $250.8k during the year ending 12/2023. While expenses have increased by 12.9% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MOORHEAD BUSINESS ASSOCIATION (MBA) FOSTERS GROWTH OF MOORHEAD BUSINESS THROUGH ADVOCACY, NETWORKING AND INFORMATION. THE MBA IS COMMITTED TO BUILDING A BETTER PLACE TO CONDUCT BUSINESS BY ENHANCING CURRENT BUSINESS AND BY CREATING A COMMUNITY ATMOSPHERE, WHICH IS ENCOURAGING POTENTIAL NEW BUSINESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
5656 OHS & AHS - THANK THE MOORHEAD CITIZENS WHOM PATRONIZE MOORHEAD BUSINESSES
GOLF EVENT - PROVIDE A NETWORKING OPPORTUNITY TO MOORHEAD BUSINESSES
ANNUAL MEETING - PROVIDE NETWORKING OPPORTUNITIES TO THE MOORHEAD BUSINESSES, ELECTION OF NEW BOARD MEMBERS, AND AND OPPORTUNITY TO UPDATE THE MEMBERS ON PAST YEAR PERFORMANCE, AND FUTURE PERFORMANCE OF THE ASSOCIATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sheri Larson Executive Director | Officer | 40 | $74,380 |
Alisha Nelson Assistant Director | Officer | 40 | $46,180 |
Kim Schlotfeldt President | Trustee | 3 | $0 |
Amber Solum Vice President | Trustee | 3 | $0 |
Jon Becker Treasurer | Trustee | 3 | $0 |
Brady Helmer Secretary | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $87,650 |
| Fundraising events | $4,145 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $20,069 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $111,864 |
| Total Program Service Revenue | $99,837 |
| Investment income | $3,248 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $214,949 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $143,874 |
| Compensation of current officers, directors, key employees. | $143,874 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,528 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,480 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,464 |
| Office expenses | $2,075 |
| Information technology | $3,706 |
| Royalties | $0 |
| Occupancy | $12,287 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,560 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $406 |
| Insurance | $2,064 |
| All other expenses | $56,770 |
| Total functional expenses | $250,806 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $51,699 |
| Savings and temporary cash investments | $100,010 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,550 |
| Total assets | $153,259 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $211 |
| Total liabilities | $211 |
| Net assets without donor restrictions | $153,048 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $153,259 |