Rochester Area Chamber Of Commerce
- Assets
- $1.7m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 11
- Location
- Rochester, MN
- Founding
- 02/1928
- Data as of
- 12/2022
- EIN
- 41-0506950
Organization Overview
Rochester Area Chamber Of Commerce is located in Rochester, MN. The organization was established in 1928. 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 12/2022, Rochester Area Chamber Of Commerce employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rochester 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 12/2022, Rochester Area Chamber Of Commerce generated $1.1m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.9%) each year. All expenses for the organization totaled $1.1m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (2.9%) per year over the past 7 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE CHAMBER PROMOTES BUSINESS SUCCESS WHICH SUPPORTS A THRIVING COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SINCE 1987, THE CHAMBER'S LEADERSHIP GREATER ROCHESTER (LGR) PROGRAM HAS PROPELLED LEADERS IN THE COMMUNITY TO FURTHER BE INSPIRED, CONNECTED AND ENLIGHTENED. THE 1,000+ ALUMNI WHO HAVE GRADUATED FROM LGR HAVE GONE ON TO SERVE IN VARIOUS CIVIC, COMMUNITY, AND BUSINESS LEADERSHIP POSITIONS. THE LGR NETWORK STRETCHES ACROSS THE COMMUNITY, PRESENT IN ALMOST EVERY SECTOR.THIS 10-MONTH PROGRAM IMMERSES THREE DOZEN LEADERS IN SESSIONS EXAMINING EVERYTHING FROM ECONOMIC DEVELOPMENT AND THE LOCAL ARTS SCENE, TO WORKFORCE DEVELOPMENT AND BUILDING A SUSTAINABLE COMMUNITY. THROUGH ENRICHING CONVERSATIONS, BEHIND-THE-SCENES TOURS, AND WORK ON THE COMMUNITY IMPACT PROJECT, THE LGR EXPERIENCE BUILDS LIFELONG RELATIONSHIPS AND PROVIDES OPPORTUNITIES FOR BUSINESS AND COMMUNITY LEADERS TO SHAPE AND CONTRIBUTE TO THE FABRIC OF THE GREATER ROCHESTER AREA.
CHAMBER ANNUAL MEMBER CELEBRATION - THIS IS AN EVENING OF GOOD FOOD, GREAT ENTERTAINMENT AND NETWORKING. THIS CELEBRATION HONORS THE VOLUNTEER OF THE YEAR, SMALL BUSINESS OF THE YEAR AND LAMP OF KNOWLEDGE AWARD WINNERS. THIS EVENT ALSO RECOGNIZES ROCHESTER BUSINESS GIVES PARTICIPANTS. THESE BUSINESSES ARE RECOGNIZED FOR GIVING CASH AND/OR IN-KIND CONTRIBUTIONS TO CHARITABLE ORGANIZATIONS AMOUNTING TO 2 PERCENT OR MORE OF THEIR PRETAX EARNINGS. THE PROGRAM IS BASED ON THE MINNESOTA KEYSTONE PROGRAM CRITERIA ESTABLISHED IN 1976 BY THE MINNEAPOLIS REGIONAL CHAMBER OF COMMERCE. OVER 700 MEMBERS ATTEND THIS EVENT. THE CHAIR OF THE BOARD GIVES YEAR-IN-REVIEW HIGHLIGHTS AND THE INCOMING CHAIR OF THE BOARD PRESENTS THE CHAMBER'S PRIORITIES FOR THE UPCOMING YEAR.
ANNUAL GOLF OUTING - A TIME FOR OUR MEMBERSHIP TO COME TOGETHER AND ENJOY OUR MINNESOTA SUMMER WEATHER AT THE BEAUTIFUL WILLOW CREEK GOLF COURSE. THIS IS A FANTASTIC OPPORTUNITY FOR LEADERS TO CONNECT WITH OTHERS FROM THEIR OWN BUSINESS AND NETWORK WITH ROCHESTER AREA BUSINESS LEADERS. MEMBERS HAVE AN OPPORTUNITY TO PROMOTE THEIR BUSINESS AND ENJOY A DAY OF GOLF.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ryan Parsons President | Officer | 65 | $128,801 |
Cheryl Krage Director Of Operations | Officer | 45 | $19,285 |
John Eckerman Chair | OfficerTrustee | 2 | $0 |
Scott Eggert Vice Chair | OfficerTrustee | 1 | $0 |
Emily Benner Secretary | OfficerTrustee | 1 | $0 |
Christine Beech Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $734,435 |
| 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 | $734,435 |
| Total Program Service Revenue | $307,734 |
| Investment income | $5,377 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $23,223 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $47,454 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,124,185 |
| 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. | $152,349 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $309,233 |
| Pension plan accruals and contributions | $7,434 |
| Other employee benefits | $64,421 |
| Payroll taxes | $44,208 |
| Fees for services: Management | $15,297 |
| Fees for services: Legal | $88 |
| Fees for services: Accounting | $30,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $41,712 |
| Advertising and promotion | $7,769 |
| Office expenses | $9,881 |
| Information technology | $3,763 |
| Royalties | $0 |
| Occupancy | $65,937 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,588 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $22,737 |
| Insurance | $7,232 |
| All other expenses | $29,572 |
| Total functional expenses | $1,137,228 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $590,156 |
| Savings and temporary cash investments | $730,917 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $91,377 |
| 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 | $11,856 |
| Net Land, buildings, and equipment | $277,649 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,701,955 |
| Accounts payable and accrued expenses | $74,008 |
| Grants payable | $0 |
| Deferred revenue | $599,501 |
| 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 | $673,509 |
| Net assets without donor restrictions | $1,028,446 |
| 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 | $1,701,955 |