Rochester Chamber Of Commerce Foundation Inc
- Assets
- $326.6k
- Revenue
- $92.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Rochester, MN
- Founding
- 01/1991
- Data as of
- 12/2019
- EIN
- 41-1675433
Organization Overview
Rochester Chamber Of Commerce Foundation Inc is located in Rochester, MN. The organization was established in 1991. According to its NTEE Classification (B60) the organization is classified as: Adult Education, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rochester Chamber Of Commerce Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2019, Rochester Chamber Of Commerce Foundation Inc generated $92.7k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $101.7k during the year ending 12/2019. 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT AND ADVANCE THE CHARITABLE INTERESTS OF THE ROCHESTER AREA CHAMBER OF COMMERCE THROUGH EDUCATION AND WORKFORCE DEVELOPMENT PROGRAMS WHICH PROMOTE P-16 EDUCATION INITIATIVES, CREATION OF DIVERSE AND FLEXIBLE WORKPLACES, LEADERSHIP DEVELOPMENT WHICH ENCOURAGES A DYNAMIC AND INNOVATIVE VISION OF THE FUTURE, PLANNING, RESEARCH AND COMMUNITY EDUCATION TO ANTICIPATE AND COMMUNICATE FUTURE COMMUNITY NEEDS AND CHALLENGES, AND PARTNERSHIPS BETWEEN THE BUSINESS COMMUNITY AND EDUCATIONAL, GOVERNMENTAL AND NON-PROFIT ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LEADERSHIP GREATER ROCHESTER - THE LGR CLASS OF 2019-2020 PARTNERED WITH THRESHOLD ARTS TO CREATE THE CRATE ART LENDING LIBRARY. THE LIBRARY IS A REGIONAL PROVIDER OF CULTURAL EXPRESSION AND ART LENDING WITH THE MISSION OF: CREATING EQUAL ACCESS TO ART IN THE GREATER ROCHESTER AREA, INCREASING EXPOSURE FOR ARTISTS, AND PROMOTING GROWTH AND INNOVATION FOR THE FUTURE OF THE ARTS.
HUBSOURCE - SE MINNESOTA'S ECONOMY IS GROWING. WHEN YOU COMBINE DESTINATION MEDICAL CENTER'S STRATEGIC GROWTH PLANS AND OUR EXISTING LABOR GAPS THERE IS A NEED TO ACT. BY CONNECTING PEOPLE, RESOURCES, AND JOBS ON A REGIONAL AND NATIONAL SCALE, THE FOUNDATION WITH ITS COMMUNITY PARTNERS SEEK TO MAKE BIG GAINS IN OUR LABOR FORCE NEEDS. THE CREATION OF A NEW WEB PLATFORM HUBSOURCE.MN IS BEING DEVELOPED FOR SOUTHEAST MINNESOTA TO CONNECT EMPLOYERS WITH WORKFORCE NEEDS AND THOSE INDIVIDUALS SEEKING JOBS.
STEM - SUMMITS ARE A COMPONENT OF A COMMUNITY INITIATIVE TO PROMOTE ADVANCED SCIENCE, TECHNOLOGY, ENGINEERING AND MATH ("STEM") COURSEWORK TO GREATER ROCHESTER AREA STUDENTS. THE FUTURE SUCCESS OF GREATER ROCHESTER'S ECONOMY DEPENDS ON A WELL-PREPARED PIPELINE OF STUDENTS WITH THE EDUCATION AND SKILLS NEEDED TO KEEP ROCHESTER AREA'S BUSINESS AND INDUSTRY COMPETITIVE. "STEM" SUMMITS BRING TOGETHER BUSINESS, HIGHER EDUCATION, LOCAL GOVERNMENT AND COMMUNITIES TO MOTIVATE AND PREPARE OUR STUDENTS FOR AN INCREASINGLY COMPETITIVE GLOBAL MARKETPLACE. THE SUMMIT FIRST BEGAN IN THE FALL OF 2009 WITH 400 STUDENTS WHO ENJOYED INTERACTIVE SCIENCE EXHIBITS AND DEMONSTRATIONS. IT HAS SINCE GROWN TO INCLUDE 2,400 STUDENTS FROM ROCHESTER AND SURROUNDING AREA SCHOOLS. AND SURROUNDING AREA SCHOOLS.
DR. MARTIN LUTHER KING JR. BREAKFAST - DR. MARTIN LUTHER KING, JR. BREAKFAST IS A SIGNATURE EVENT OF THE FOUNDATION, THIS BREAKFAST ENGAGES OVER 300 COMMUNITY LEADERS AND IDENTIFIES A LOCAL, DIVERSITY CHAMPION TO CELEBRATE THE LIFE, WORK AND WISDOM OF MARTIN LUTHER KING, JR. THROUGH AN INSPIRATIONAL MESSAGE. THIS LOCAL CHAMPION WORKS TO INSPIRE COMMUNITY LEADERS TO TAKE AN ACTIVE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Busch Treasurer | OfficerTrustee | 1 | $0 |
Emily Benner Secretary | OfficerTrustee | 1 | $0 |
Greg House Chair | OfficerTrustee | 1 | $0 |
Aaron Benike Chair Elect | OfficerTrustee | 1 | $0 |
Kathleen Harrington President | Officer | 15 | $0 |
Matt Bissonette Vice President | Officer | 15 | $0 |
Financial Statements
| 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 | $54,888 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $54,888 |
| Total Program Service Revenue | $36,835 |
| Investment income | $993 |
| 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 | $92,716 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,039 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $10,987 |
| Office expenses | $36 |
| Information technology | $1,200 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $751 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,337 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $49,540 |
| Insurance | $0 |
| All other expenses | $647 |
| Total functional expenses | $101,705 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,230 |
| Savings and temporary cash investments | $141,406 |
| 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 | $161,005 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $326,641 |
| Accounts payable and accrued expenses | $1,595 |
| Grants payable | $0 |
| Deferred revenue | $51,215 |
| 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 | $4,692 |
| Total liabilities | $57,502 |
| Net assets without donor restrictions | $268,139 |
| Net assets with donor restrictions | $1,000 |
| 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 | $326,641 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Rochester Chamber Of Commerce Foundation Inc has recieved totaling $6,000.
| Awarding Organization | Amount |
|---|---|
Rochester Area Foundation Rochester, MN PURPOSE: GENERAL OPERATING EXPENSES | $6,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
United Tribes Technical College Bismarck, ND | $70,420,177 | $32,338,787 |
St Coletta Of Wisconsin Inc Jefferson, WI | $22,544,522 | $20,338,471 |
Nbi-Sems Inc Altoona, WI | $32,056,887 | $23,539,455 |
Peo Program For Continuing Education Des Moines, IA | $11,022,579 | $3,626,880 |
Western Great Lakes Finishing Trades Institute Madison, WI | $1,218,551 | $1,952,776 |
Metropolitan Sheet Metal Journeyman And Apprentice Training Trust Fund White Bear Lake, MN | $6,587,628 | $2,218,234 |
Build Wealth Mn Inc Minneapolis, MN | $4,473,899 | $4,002,738 |
Marnitas Table Inc Minneapolis, MN | $529,454 | $1,288,118 |
Transamerica Institute Cedar Rapids, IA | $123,385 | $1,020,293 |
Twin Cities Public Media Commons Saint Paul, MN | $12,555,396 | $250,000 |
African Economic Development Solutions St Paul, MN | $5,659,267 | $2,479,243 |
International Urogynecological Association Burnsville, MN | $3,133,599 | $1,060,166 |