River Heights Chamber Of Commerce is located in Inver Grove Heights, MN. The organization was established in 1946. 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, River Heights Chamber Of Commerce employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. River Heights 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 12/2023, River Heights Chamber Of Commerce generated $233.1k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.8%) each year. All expenses for the organization totaled $209.1k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (2.6%) per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE INTEREST OF BUSINESS COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CHAMBER IS DEDICATED TO ENCOURAGING AND STIMULATING INDIVIDUALS IN TAKING AN ACTIVE ROLE IN THE COMMUNITY BY PROVIDING A VARIETY OF OPPORTUNITIES FOR BUSINESSES TO CREATE NEW NETWORKS OF CONTACTS, VOLUNTEERS, AND FRIENDS. TO RECOGNIZE BUSINESS ACHIEVEMENTS, PROVIDE USEFUL PUBLICATIONS TO MEMBERS INCLUDING A DIRECTORY, WEEKLY UPDATES, MAPS AND GUIDES. TO PROVIDE UPDATES ON BUSINESS, GOVERNMENT AND SOCIAL ISSUES. IN 2023, THE CHAMBER SERVED APPROXIMATELY 250 MEMBERS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Colleen Roth Former Presi | Officer | 40 | $39,266 |
Regina Barr Director | Trustee | 1 | $20,363 |
Greg Dennis Past Chair | OfficerTrustee | 1 | $14,901 |
Ruth Bader Director | Trustee | 1 | $0 |
Ann Bailey Director | Trustee | 1 | $0 |
Elizabeth Barchenger Director | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
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 | $0 |
Total Program Service Revenue | $183,819 |
Investment income | $1,055 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $20,808 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $233,098 |
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. | $39,266 |
Compensation of current officers, directors, key employees. | $2,356 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $52,472 |
Pension plan accruals and contributions | $2,389 |
Other employee benefits | $5,205 |
Payroll taxes | $6,916 |
Fees for services: Management | $48,719 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $3,055 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $0 |
Office expenses | $4,343 |
Information technology | $7,238 |
Royalties | $0 |
Occupancy | $15,884 |
Travel | $1,992 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $1,515 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $8,178 |
Insurance | $4,141 |
All other expenses | $145 |
Total functional expenses | $209,081 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $83,599 |
Savings and temporary cash investments | $0 |
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 | $1,916 |
Net Land, buildings, and equipment | $36,513 |
Investments—publicly traded securities | $20,288 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $142,316 |
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 | $525 |
Total liabilities | $525 |
Net assets without donor restrictions | $141,791 |
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 | $142,316 |