Minnesota Chamber of Commerce and Industry

Nonprofit profile at a glance

EIN
410417210
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
St Paul, MN, USA
Phone
6512924650
Rating confidence
Limited

Official website

Reported finances

Revenue
$7,653,674
Expenses
$6,677,540
Assets
$11,386,628
Liabilities
$5,194,391

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

Leadership & pay

48 people listed

Executive titles in this filing

  • DOUG LOON (PRESIDENT/CEO)
  • ANNETTE KOJETIN (VICE PRESIDENT/CFO)
  • LAURA BORDELON (SR. VICE PRESIDENT)
  • JENNIFER MUNYER (VICE PRESIDENT)
  • VICTORIA STUTE (VICE PRESIDENT)
  • BETH KADOUN (VICE PRESIDENT)

Highest reported compensation

  • DOUG LOON (PRESIDENT/CEO): $609,763 total reported compensation
  • LAURA BORDELON (SR. VICE PRESIDENT): $329,167 total reported compensation
  • ANNETTE KOJETIN (VICE PRESIDENT/CFO): $217,186 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 Minnesota chamber of commerce proactively leads the business community statewide to: advance pro-business, responsible Minnesota public policy that creates jobs and grows the econony; provde member services to address evolving business needs; be non partisan

What it reported doing in 2024

Special programs and events: to educate our members on legislative and other key issues that may affect their business. These programs also offer networking opportunities among business leaders. Our larger events are session priorities, economic summit, women in business and business day at the capitol. We offer smaller events such as webinars and issue briefings. Objective: to give our members an opportunity to network with other business leaders and to hear first-hand from lawmakers and other key authorities on business issues.

Operating model

Revenue model
Earned-program. 94% of the money available for current operations came from fees and other program revenue.
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: 95
  • Accountability: 99
  • Sustainability: 51
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 97.6%; rating input score 98; 27th 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: 12.8%; rating input score 67; 67th percentile among comparable filings
  • Total-asset coverage ratio: 1.71; rating input score 56; 56th percentile among comparable filings
  • Liabilities to assets ratio: 0.46; rating input score 23; 23rd percentile among comparable filings
  • Officer compensation ratio: 31.6%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 2.4% per year; rating input score 100; 23rd percentile among comparable filings
  • Asset growth: 6.1% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 40 of 41 board members independent · 8 of 8 filing controls reported
  • Programs: 4 filed program accomplishments
  • Leadership: top reported pay $610K · 48 people listed · 5 of 6 pay-setting controls reported
  • Consistency: 15 of 15 current checks pass
  • Schedules: 7 filed schedules · includes grants and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 10 filed money-flow records
  • Related organizations: 7 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 — Sustainability: Total-asset coverage ratio scored 56/100.
  • High — Sustainability: Officer compensation ratio scored 5/100.
  • High — Sustainability: Liabilities to assets ratio scored 23/100.