Mitchell Area Chamber of Commerce
Nonprofit profile at a glance
- EIN
- 460166147
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024
- Location
- Mitchell, SD, USA
- Phone
- 6059965567
- Rating
- 47
- Verdict
- MIXED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $1,299,978
- Expenses
- $1,421,939
- Assets
- $3,033,547
- Liabilities
- $552,115
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
13 people listed
Executive titles in this filing
- MIKE LAURITSEN (CEO)
Highest reported compensation
- MIKE LAURITSEN (CEO): $125,222 total reported compensation
- KIMBERLY LOFGREN (CFO): $111,240 total reported compensation
- GERI BECK (INTERIM VICE): $100,348 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To provide leadership to unify community action that enhances the business environment and the quality of life of the mitchell area. The organization promotes the growth of businesses located within the designated areas around mitchell, sd and promotes visitation/tourism to the mitchell area.
What it reported doing in 2024
The convention and visitors bureau (cvb) is a division of the mitchell area chamber of commerce. The cvb provides staffing of the mitchll area visitor information center (6 part-time employees, and 3 volunteers). During the year the organization assisted with staffing for various conventions held in the city, generally providing one or two volunteers per event. The cvb also assists in the funding, advertising, and hopitality of various athletic events held within the city of mitchell.
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
MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 0
- Transparency & Controls: 90
- Accountability: 77
- Sustainability: 37
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 0%; rating input score 0
- Program expense ratio: 0%; rating input score 0
- 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; 63rd percentile among comparable filings
- Governance controls: 4 of 9 controls in place; rating input score 44
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Fail
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -9.4%; rating input score 18; 18th percentile among comparable filings
- Total-asset coverage ratio: 2.13; rating input score 66; 66th percentile among comparable filings
- Liabilities to assets ratio: 0.18; rating input score 33; 33rd percentile among comparable filings
- Officer compensation ratio: 7.9%; rating input score 44; 44th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 1.6% per year; rating input score 100; 22nd percentile among comparable filings
- Asset growth: 4.7% per year; rating input score 100; 38th percentile among comparable filings
Details
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 11 of 11 board members independent · 4 of 9 filing controls reported
- Programs: 4 filed program accomplishments · $1.4M in reported program spending
- Leadership: top reported pay $125K · 13 people listed
- Consistency: 14 of 15 current checks pass · 1 finding to review
- Schedules: 3 filed schedules
- Filing history: 15 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- Related organizations: Filed and resolved organization relationships.
- 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 — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- Moderate — Accountability: Governance controls: 5 of 9 not reported.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- High — Sustainability: Operating margin scored 18/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 33/100.
- Moderate — Sustainability: Officer compensation ratio scored 44/100.