Ham Lake Chamber of Commerce

Nonprofit profile at a glance

EIN
411646487
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Ham Lake, MN, USA
Phone
7634343011
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Business and Industry

Official website

Reported finances

Revenue
$14,148
Expenses
$70,683
Assets
$152,377
Liabilities
$4,419

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

7 people listed

People named in this filing

  • Tim Sofie (Chair)
  • Tyler Messerole (Director)
  • Nancy Braastad (Secretary/Treasurer)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Ham Lake Chamber of Commerce represents, supports and advocates for the individual and collective needs of businesses in the Ham Lake area, existing to:*Provide a unified and consistent voice to promote the interests of businesses in all forums. *Serve as a resource for information and services which contribute to business' abilities to manage, grow and prosper.*Plan, develop and enhance opportunities for economic growth and vitality through partnership with governmental agencies and the local community.

What it reported doing in 2024

Connected business, industry and professional individuals to improve the local economy and build a more vibrant, prosperous community. Provided opportunity for local businesses to hear business and community speakers share their expertise on ways to keep their business at its competitive best. Promoted business members through the local newspaper and on the chamber website. Continued to plan, develop and enhance opportunities for economic growth and vitality and served as a resource for the business community.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 90
  • Accountability: 82
  • Sustainability: 24
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 61.9%; rating input score 62
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: -399.6%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 2.16; rating input score 35; 35th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 24; 24th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 19.3% per year; rating input score 100; 84th percentile among comparable filings
  • Revenue growth: -1.3% per year; rating input score 0; 55th percentile among comparable filings
  • Asset growth: 11.1% per year; rating input score 100; 82nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 61.9% of spending went to programs
  • Governance: 7 of 7 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $44K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 10 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • 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 — Accountability: Governance controls: 2 of 6 not reported.
  • High — Sustainability: Operating margin scored 9/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 35/100.
  • High — Sustainability: Liabilities to assets ratio scored 24/100.