Minneapolis Regional Chamber Development Foundation

Analysis

Minneapolis Regional Chamber Development Foundation is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in October 1986, 40 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Minneapolis Regional Chamber Development Foundation reported income of $1.6m and spending of $2.3m, spending 140% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $786k to $1.6m (+106%), an average of +20% a year. The sharpest change came in the year to December 2020, when income rose by 113%. Over the whole period it spent 105% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Minneapolis Regional Chamber Development Foundation sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 83rd percentile within MN. Charities of a similar size with the same main cause include National Ambucs Inc ($1.6m), West Central Texas Workforce Development Board Inc ($1.6m) and Pacific Northwest Tribal Lending a Community Development Financial ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% and program service revenue 8.3% of the total. Other salaries and wages came to $1.2m. At year end it held assets of $873k against liabilities of $1.1m, net assets of -$249k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.