Bemidji Area Chamber Of Commerce
- Assets
- $112.2k
- Revenue
- $288.4k
- Investments
- $0.0
- Employees
- 3
- Location
- Bemidji, MN
- Founding
- 07/1942
- Data as of
- 08/2023
- EIN
- 41-0192900
Organization Overview
Bemidji Area Chamber Of Commerce is located in Bemidji, MN. The organization was established in 1942. 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 08/2023, Bemidji Area Chamber Of Commerce employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bemidji Area Chamber Of Commerce 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 08/2023, Bemidji Area Chamber Of Commerce generated $288.4k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $334.3k during the year ending 08/2023. While expenses have increased by 7.0% per year over the past 8 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
TO ADVOCATE FOR THE BUSINESS COMMUNITY BY PROVIDING LEADERSHIP, COMMUNICATION AND ACT AS A REFERRAL RESOURCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE INFORMATION TO ASSIST VISITORS, NEW RESIDENTS, STUDENTS AND BUSINESSES. PUBLISH INFORMATION FOR VISITORS AND RELOCATION PURPOSES. SPONSOR A YOUNG PROFESSIONALS NETWORK. SPONSOR COMMUNITY EVENTS AND NETWORKING EVENTS. MEMBER SERVICES - PROMOTE THE AREA IN ORDER TO PROVIDE LONG TERM GROWTH; ENSURE DIVERSE ECONOMIC BASE AND STRENGTHEN BEMIDJI AS THE REGIONAL DESTINATION FOR NORTH CENTRAL MINNESOTA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce Bentfield Officer At L | Trustee | 0.25 | $0 |
Amanda Haugen Director | Trustee | 0.25 | $0 |
Kev Jackson Director | Trustee | 0.25 | $0 |
Dana Lee Director | Trustee | 0.25 | $0 |
Mike Mcniel Director | Trustee | 0.25 | $0 |
Carissa Menefee Director | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $175,307 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $175,307 |
| Total Program Service Revenue | $47,970 |
| Investment income | $1,621 |
| 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 | $288,398 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $153,064 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,553 |
| Payroll taxes | $12,004 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,103 |
| Advertising and promotion | $36,692 |
| Office expenses | $12,095 |
| Information technology | $7,831 |
| Royalties | $0 |
| Occupancy | $42,625 |
| Travel | $601 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,485 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,169 |
| Insurance | $2,259 |
| All other expenses | $0 |
| Total functional expenses | $334,274 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,099 |
| Savings and temporary cash investments | $42,345 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,169 |
| 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 | $11,450 |
| Net Land, buildings, and equipment | $52,249 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,892 |
| Total assets | $112,204 |
| Accounts payable and accrued expenses | $10,124 |
| 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 | $0 |
| Total liabilities | $10,124 |
| Net assets without donor restrictions | $102,080 |
| 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 | $112,204 |