Edina Chamber of Commerce
Nonprofit profile at a glance
- EIN
- 411751952
- IRS 990 coverage
- 2012–2024
- Forms available
- Form 990 2024
- Location
- Edina, MN, USA
- Phone
- 9528069060
- Rating confidence
- Limited
Reported finances
- Revenue
- $1,251,949
- Expenses
- $1,096,913
- Assets
- $1,155,703
- Liabilities
- $498,120
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
12 people listed
Executive titles in this filing
- Shelly Loberg (President)
Highest reported compensation
- Shelly Loberg (President): $101,861 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The primary exempt purpose of the Chamber is to bring together business leaders within Edina to promote the community and its businesses.
What it reported doing in 2024
Signature Events: Annual Social - A gathering of nearly 225 people at our local Westin Edina activates our business community in a unique, themed networking event where attendees can eat, drink, socialize and learn about some local businesses. Sunrise Edina Business Breakfast - This monthly networking breakfast offers members and attendees the chance to learn more about one another's businesses through networking and features a Chamber member as a speaker. This event occurs in a member space (Edina Country Club). Significant relationship development occurs.Edina Shark Tank - Chamber staff works with Edina Public Schools and Edina High School to engage students in entrepreneurial projects and pitches in front of a live audience with judges for for a cash prize of $1,000. A teacher of the year is also honored annually at this event. Style Edina - A program of Explore Edina, this event is a celebration of the amazing retail community in Edina and highlights them through a narrated, live fashion show and pop-up shopping.Edina Fall into the Arts Festival - Dynamic community event showcasing the talent of 244 regional artists with a significant sponsor base of local businesses. Funds raised support the Edina Crime Prevention Fund, the Edina Art Center, Centennial Lakes Park and the Edina Chamber of Commerce.Annual Meeting - Celebration and recap of our yearly activities, recognition of outgoing board members, slate of nominations for open board seats, and community awards recognizing a business of the year, young professional of the year, and a notable individual who impacts the community significantly.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 86
- Accountability: 90
- Sustainability: 51
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 90%; rating input score 90; 5th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: 92.7%; rating input score 93; 40th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 6 of 8 controls in place; rating input score 75
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 12.4%; rating input score 66; 66th percentile among comparable filings
- Total-asset coverage ratio: 1.05; rating input score 44; 44th percentile among comparable filings
- Liabilities to assets ratio: 0.43; rating input score 18; 18th percentile among comparable filings
- Officer compensation ratio: 9.3%; rating input score 39; 39th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 11.2% per year; rating input score 100; 70th percentile among comparable filings
- Asset growth: 19.5% per year; rating input score 100; 81st percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 11 of 11 board members independent · 6 of 8 filing controls reported
- Programs: 2 filed program accomplishments · $940K in reported program spending
- Leadership: top reported pay $102K · 12 people listed
- Consistency: 12 of 13 current checks pass · 1 finding to review
- Schedules: 6 filed schedules · includes major donors and grants
- Filing history: 11 filing years from 2012 to 2024
- Contacts: How to reach this organization
- Money network: 6 filed money-flow records
- Related organizations: 5 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- Review — Accountability: Governance controls: Independent financial-statement audit not reported.
- Moderate — Sustainability: Total-asset coverage ratio scored 44/100.
- High — Sustainability: Liabilities to assets ratio scored 18/100.
- Moderate — Sustainability: Officer compensation ratio scored 39/100.