Overview
What is Minnesota Chamber Foundation?
The Minnesota Chamber Foundation is a nonprofit organization situated in St. Paul, Minnesota. Their primary mission is to foster prosperity and long-term growth in Minnesota's economy. They accomplish this by uniting various stakeholders. In May 2022, they released a report titled "Minnesota Entrepreneurship: A Turning Point," detailing the growth of entrepreneurship in the state and proposing strategies to further stimulate it. They are currently working on the 2023 edition of their economic outlook report, "Minnesota: 2030," which provides an analysis of Minnesota's economy and suggests ways to mitigate potential challenges to future growth. The foundation, with a workforce of 4 individuals, plays a significant role in shaping Minnesota's economic landscape.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Stars)
The Minnesota Chamber Foundation has achieved an impressive Four-Star rating from Charity Navigator, reflecting a strong commitment to transparency and effective financial management. With an overall score of 94%, the organization demonstrates high standards in accountability and finance, which is crucial for donor trust and engagement.
A significant strength of the foundation is its governance structure, with 86% of board members being independent. This independence is bolstered by a robust audit and oversight committee, which scored a perfect 15 out of 15 points for financial statement oversight. The foundation also maintains comprehensive policies regarding conflict of interest, whistleblowing, and document retention, ensuring ethical practices and accountability.
Despite its strong performance, the Minnesota Chamber Foundation's program expense ratio stands at 83.16%, indicating that it dedicates a substantial portion of its resources to programmatic efforts. This dedication, alongside a favorable liabilities to assets ratio of 23.99%, positions the organization as financially sound, although it is always important for donors to evaluate how effectively funds are utilized in achieving the foundation's mission.
This AI summary has been generated from information found on Charity Navigator.
Is Minnesota Chamber Foundation legitimate?
Minnesota Chamber Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Minnesota 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $192,546
Professional Fundraising Fees: $0
Other Salaries and Wages: $125,442
For more financial information, click here
What is the mission statement of Minnesota Chamber Foundation?
The Minnesota Chamber Foundation's mission is centered around fostering collaboration among stakeholders with the objective of promoting prosperity and long-term economic growth in Minnesota. They achieve this by conducting extensive economic research and analysis, providing reports and recommendations to stimulate entrepreneurship and address potential challenges to future development. In May 2022, they released a report titled "Minnesota Entrepreneurship: A Turning Point," highlighting the growth of entrepreneurship and offering suggestions for its continued expansion. More recently, they released the 2023 edition of their economic outlook report, "Minnesota: 2030," offering an objective analysis of the state's economy and proposing solutions to tackle hindrances to future growth.
Who is the CEO of Minnesota Chamber Foundation?
Jennifer Byers is the President of Minnesota Chamber Foundation.
What is the revenue of Minnesota Chamber Foundation?
Minnesota Chamber Foundation's revenue in 2022 was $930,141.
Who are the executives of Minnesota Chamber Foundation and what are their salaries?
The average compensation at Minnesota Chamber Foundation during 2022 was $79,497. There are 4 employees and 10 volunteers at Minnesota Chamber Foundation.
Here are 17 key members and their salaries:
- Compensation: $0
- Related: $550,612
- Other: $49,772
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- Related: $175,144
- Other: $11,820
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- Related: $160,278
- Other: $30,797
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- Related: $267,970
- Other: $40,303
- Compensation: $0
- Related: $165,288
- Other: $17,085
- Compensation: $0
- Related: $138,370
- Other: $27,973
- Compensation: $0
- Related: $146,655
- Other: $11,527
Where can I find the form 990 for Minnesota Chamber Foundation?
Minnesota Chamber Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Minnesota Chamber Foundation
The Minnesota Chamber Foundation, an organization dedicated to fostering prosperity and long-term growth in Minnesota's economy, fulfills its mission by bringing together various stakeholders. Its primary objective is to facilitate a collaborative environment that encourages the advancement and expansion of Minnesota's economic landscape.
In pursuit of this mission, the Minnesota Chamber Foundation conducts comprehensive economic research. For instance, in May 2022, they released a report entitled "Minnesota Entrepreneurship: A Turning Point," which highlighted the growth of entrepreneurship in the state and proposed strategies to further stimulate its development. More recently, in May 2023, the foundation unveiled the 2023 edition of "Minnesota: 2030," a report offering an insightful analysis of Minnesota's economic performance and suggesting potential solutions to overcome challenges preventing future growth. These initiatives demonstrate the Minnesota Chamber Foundation's commitment to promoting and sustaining economic prosperity in Minnesota.
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Impact
July, 2024
The Minnesota Chamber Foundation plays a significant role in promoting prosperity and long-term growth in Minnesota's economy. Through its economic research efforts, the Foundation provides valuable insights and recommendations to stakeholders. For example, the release of reports like "Minnesota Entrepreneurship: A Turning Point" and "Minnesota: 2030" offers objective analysis of the state's economy and suggests strategies to foster growth. By bringing together key players and providing data-driven guidance, the Foundation contributes to shaping positive economic outcomes for the state of Minnesota.
This information is meant to be a general summary of Minnesota 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.
- Program Service Revenue: $203,660
- Gross Receipts: $930,141
Assets and Liabilities:
- Total Assets: $743,764
- Total Liabilities: $156,778
- Net Assets: $586,986
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TUITION
Revenue
$191,710
ALUMNI EVENT
Revenue
$11,950
Organization Details
Founding Year
1983
Phone
(651) 292-4650Principal Officer
Jennifer Byers
Main Address
380 SAINT PETER STREET 1050, ST PAUL, MN, 55102
NTEE Category
Code: W11 - Public benefit
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