Overview
What is Owatonna Area Chamber Foundation?
The Owatonna Area Chamber Foundation is a nonprofit organization that primarily focuses on collecting and managing funds for charitable, scientific, literary, or educational purposes. Its operations are guided by the Board of Directors, who have the discretion to allocate these funds as they see fit. The organization supports various programs that align with its mission, aiming to contribute to organizations under section 501(c)(3) of the Internal Revenue Code, excluding those involved in public safety testing. Additionally, the foundation seeks to enhance the aesthetic appeal of downtown Owatonna.
Is Owatonna Area Chamber Foundation legitimate?
Owatonna Area Chamber Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Owatonna Area Chamber Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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Professional Fundraising Fees: $0
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What is the mission statement of Owatonna Area Chamber Foundation?
The Owatonna Area Chamber Foundation's mission is to manage funds for charitable, scientific, literary, or educational purposes. They exercise discretion in distributing these funds to eligible organizations, as outlined in section 501(c)(3) of the Internal Revenue Code, excluding organizations primarily focused on public safety testing. Their objective is to effectively use these resources to advance these causes, making significant contributions to various qualified organizations.
Who is the CEO of Owatonna Area Chamber Foundation?
Wayne Starman is the Member of Owatonna Area Chamber Foundation.
What is the revenue of Owatonna Area Chamber Foundation?
Owatonna Area Chamber Foundation's revenue in 2022 was $317,973.
Who are the executives of Owatonna Area Chamber Foundation and what are their salaries?
There 14 volunteers at Owatonna Area Chamber Foundation.
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Where can I find the form 990 for Owatonna Area Chamber Foundation?
Owatonna Area Chamber Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Owatonna Area Chamber Foundation
The Owatonna Area Chamber Foundation, as per its mission, is tasked with soliciting, collecting, receiving, and administering funds. The primary objective is to utilize these resources effectively in furthering charitable, scientific, literary, or educational purposes. The foundation holds the discretionary power to make contributions to organizations that fall under the 501(C)(3) category of the Internal Revenue Code, excluding those involved in testing for public safety. In essence, the Owatonna Area Chamber Foundation serves as a philanthropic entity, aiming to support and advance causes that align with its charitable mission.
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Impact
October, 2024
The Owatonna Area Chamber Foundation significantly enhances the community by gathering and allocating funds for charitable, scientific, literary, and educational purposes. Its board of directors strategically administers these resources to maximize their impact, supporting a variety of initiatives that benefit the area. Through its efforts, the foundation not only provides essential contributions to local organizations but also actively works to beautify downtown Owatonna, fostering a vibrant and appealing environment. By focusing on philanthropy, the foundation plays a crucial role in enriching community life and promoting growth and development in Owatonna.
This information is meant to be a general summary of Owatonna Area Chamber Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $3
- Gross Receipts: $317,973
Assets and Liabilities:
- Total Assets: $402,658
- Total Liabilities: $0
- Net Assets: $402,658
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Organization Details
Founding Year
1986
Phone
(507) 451-7970Principal Officer
Wayne Starman
Main Address
320 HOFFMAN DRIVE, OWATONNA, MN, 55060
NTEE Category
Code: T30 - Philanthropy
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