Minneapolis Regional Chamber of Commerce
Nonprofit profile at a glance
- EIN
- 410414520
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Minneapolis, MN, USA
- Phone
- 6123709141
- Rating confidence
- Limited
Reported finances
- Revenue
- $3,389,830
- Expenses
- $3,434,190
- Assets
- $1,639,215
- Liabilities
- $1,300,940
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
77 people listed
Executive titles in this filing
- MIKE LOGAN (PRESIDENT & CEO)
- JONATHAN WEINHAGEN (FORMER PRESIDENT & CEO)
- JOHN STANOCH (INTERIM PRESIDENT & CEO)
Highest reported compensation
- JONATHAN WEINHAGEN (FORMER PRESIDENT & CEO): $136,389 total reported compensation
- MIKE LOGAN (PRESIDENT & CEO): $52,210 total reported compensation
- JOHN STANOCH (INTERIM PRESIDENT & CEO): $621 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Creating powerful advocacy to enhance economic vitality in the minneapolis-st. Paul region.
What it reported doing in 2024
Minneapolis regional chamber of commerce reports its activities in four major program areas: member services, economic development, public policy, and community leadership. Member services comprise a majority of the chamber work. The services include networking and educational opportunities that promote business development and economic vitality in the minneapolis region. Communications (such as newsletters) and events are offered weekly to members. Economic development includes work the chamber does to promote growth, improvement, and vitality in the minneapolis region. This includes communication and support for transit and affordable housing as well as administering city grants. Public policy consists of communication, education, support, and engagement with other local organizations as well as elected officials to promote and improve the needs of the business community on a legislative level. Areas of focus include transportation and affordable housing. Community leadership takes several forms including conducting a nine month leadership training course; supporting the events of local organizations; contributing to local charities; and providing scholarships to graduating high school students.
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: 70
- Accountability: 100
- Sustainability: 25
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 91.7%; rating input score 92; 7th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: 6.9%; rating input score 7; 12th 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: 8 of 8 controls in place; rating input score 100
- 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: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -1.3%; rating input score 29; 29th percentile among comparable filings
- Total-asset coverage ratio: 0.48; rating input score 16; 16th percentile among comparable filings
- Liabilities to assets ratio: 0.79; rating input score 10; 10th percentile among comparable filings
- Officer compensation ratio: 5.5%; rating input score 50; 50th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 5.5% per year; rating input score 100; 45th percentile among comparable filings
- Asset growth: 5.8% per year; rating input score 100; 39th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 58 of 58 board members independent · 8 of 8 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $136K · 77 people listed
- Consistency: 14 of 15 current checks pass · 1 finding to review
- Schedules: 8 filed schedules · includes major donors and grants
- Filing history: 15 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 4 filed money-flow records
- Related organizations: 2 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.
- High — Transparency & Controls: Grant itemization coverage scored 7/100.
- High — Sustainability: Operating margin scored 29/100.
- High — Sustainability: Total-asset coverage ratio scored 16/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- High — Sustainability: Liabilities to assets ratio scored 10/100.
- Review — Sustainability: Officer compensation ratio scored 50/100.