Duluth Area Chamber Foundation
- Assets
- $91.5k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Duluth, MN
- Founding
- Data as of
- 12/2023
- EIN
- 88-2181306
Organization Overview
Duluth Area Chamber Foundation is located in Duluth, MN. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Duluth Area Chamber Foundation 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 12/2023, Duluth Area Chamber Foundation generated $39.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (45.7%) each year. All expenses for the organization totaled $193.4k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
THE FOUNDATION IS ORGANIZED AND SHALL BE OPERATED FOR PURPOSES OF SUPPORTING THE WORK AND MISSION OF THE CHAMBER AND STRIVES TO IMPROVE ECONOMIC OPPORTUNITIES, EQUITY, AND IMPROVED QUALITY OF LIFE THROUGH RESEARCH, EDUCATION, ADVOCACY, PARTICIPATING IN CHARITABLE ACTIVITIES, AND SUPPORT OF INDIVIDUALS, BUSINESSES, ENTREPRENEURS, AND ECONOMIC TRANSACTORS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terese Tomanek Director | 1 | $0 | |
Matt Baumgartner CEO | 1 | $0 | |
Renee Mattson Burns Chair | 1 | $0 | |
Jon Birkeland Treasurer | 1 | $0 | |
Daniel Fanning Executive Di | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $37,339 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $2,018 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $39,357 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $157,770 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $35,584 |
| Total expenses | $193,354 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $91,508 |
| Other assets | $0 |
| Total assets | $91,508 |
| Total liabilities | $159,318 |
| Net assets or fund balances | -$67,810 |