2024-11-15T09:34:16-06:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 220 SOUTH SIXTH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2023-01-01 363468708 MINNEAPOLIS REGIONAL CHAMBER DEVELOPMENT FOUNDATION MINN 6123709100 81 SOUTH NINTH STREET 200 MINNEAPOLIS MN 55402 MIKE LOGAN INTERIM PRESIDENT & CEO 6123709100 2024-11-14 1 1 KIMBERLY ANDERSON P00188889 6123764500 2024-11-14 2023 2024-10-15 13:58:12Z MIKE LOGAN 81 SOUTH NINTH STREET 200 MINNEAPOLIS MN 55402 1617688 0 X WWW.MPLSCHAMBER.ORG X 1986 MN TO SUPPORT THE MINNEAPOLIS REGIONAL CHAMBER TO CREATE A VIBRANT AND EQUITABLE ECONOMY. 4 3 0 85 0 0 1464668 1480569 124602 133860 21162 0 2103 3259 1612535 1617688 15077 26500 0 0 1092420 1170757 0 0 0 893015 1060439 2000512 2257696 -387977 -640008 1336749 872882 774437 1121740 562312 -248858 X THE MISSION OF THE MINNEAPOLIS REGIONAL CHAMBER DEVELOPMENT FOUNDATION IS TO OFFER INNOVATIVE WAYS OF REDUCING UNEMPLOYMENT, IMPROVE EDUCATIONAL OPPORTUNITIES FOR DISADVANTAGED YOUTH, INITIATE AND CONDUCT LEADERSHIP DEVELOPMENT PROGRAMS AND PROMOTE EFFORTS THAT ENHANCE THE QUALITY OF LIFE AND LEADERSHIP SKILLS IN THE MINNEAPOLIS AND ST. PAUL AREAS. 0 0 1043535 0 0 COMMUNITY LEADERSHIP: THROUGH THE MINNEAPOLIS REGIONAL CHAMBER DEVELOPMENT FOUNDATION, THE CHAMBER ENGAGES IN AN ONGOING INITIATIVE TO PROMOTE EDUCATION AND LEADERSHIP THROUGH SCHOLARSHIP PROGRAMS AND CONFERENCES AND AN EMERGING LEADERS SERIES. 532576 0 133860 LEADERSHIP TWIN CITIES: EACH YEAR, LEADERSHIP TWIN CITIES TAKES A COHORT OF 50+ HIGH POTENTIAL INDIVIDUALS THROUGH A NINE-MONTH PROGRAM OF CIVIC EDUCATION AND LEADERSHIP SKILLS DEVELOPMENT. THE PROGRAM'S MISSION IS TO IDENTIFY, CULTIVATE AND INSPIRE SUCCESSIVE GENERATIONS OF COMMUNITY LEADERS, BY EXAMINING CRITICAL ISSUES AND RESOURCES, TO ENSURE THE SOCIAL, CULTURAL AND ECONOMIC PROSPERITY OF THE MINNEAPOLIS-SAINT PAUL REGION. FOR MORE THAN 40 YEARS, LEADERSHIP TWIN CITIES HAS INFORMED MORE THAN 2,000 CIVIC LEADERS ABOUT THE CRITICAL ISSUES FACING THE REGION. PARTICIPANTS SPEND ONE DAY EACH MONTH FROM SEPTEMBER-MAY EXPLORING TOPICS SUCH AS ECONOMIC DEVELOPMENT, EDUCATION, ARTS AND CULTURE, COMMUNITY SAFETY, HEALTH CARE AND GOVERNMENT. 308538 0 0 KEYSTONE: MINNESOTA KEYSTONE PROGRAM PROMOTES CORPORATE PHILANTHROPY BY RECOGNIZING AND HONORING COMPANIES THAT DONATE AT LEAST 2% OF THEIR PRE-TAX EARNINGS TO CHARITABLE ORGANIZATIONS. QUALIFYING COMPANIES HAVE AN OPERATING PRESENCE IN MINNESOTA AND DONATE CASH, IN-KIND DONATIONS, INCLUDING PRO-BONO SERVICES, AND/OR EMPLOYEE PAID VOLUNTEER TIME. MINNESOTA KEYSTONE COMPANIES RECEIVE RECOGNITION ON THE MINNESOTA KEYSTONE WEBSITE AND AT AN ANNUAL EVENT. MINNESOTA KEYSTONE HAS BEEN OPERATING CONSISTENTLY SINCE 1976 AND IS A GREAT REFLECTION OF MINNESOTA'S SPIRIT OF GENEROSITY AND SENSE OF COMMUNITY. 176381 26500 0 ELEVATE FUTURES: ELEVATE FUTURES IS AN INTERACTIVE CAREER DEVELOPMENT PLATFORM THAT LINKS RECRUITMENT, SKILL BUILDING AND CAREER NAVIGATION INTO ONE COMPREHENSIVE SYSTEM. ELEVATE FUTURES PROVIDES A UNIQUE SOLUTION TO CLOSE THE WORKFORCE GAPS. IT INFORMS, EDUCATES AND DEVELOP STUDENTS AND JOB SEEKERS, WHILE DIRECTLY CONNECTING THEM TO LOCAL EMPLOYERS, CAREER COUNSELORS, CAREER PATHWAYS AND JOBS. ELEVATE BUSINESS HC - BUSINESSES IN MINNEAPOLIS AND BROADER HENNEPIN COUNTY ARE ELIGIBLE TO RECEIVE FREE BUSINESS ADVISING AND CONSULTING SERVICES THROUGH ELEVATE BUSINESS HC, A NEW INITIATIVE OFFERING NO-COST BUSINESS ADVISING AND OTHER RESOURCES TO HELP BUSINESSES RECOVER FROM THE PANDEMIC AND BUILD FOR FUTURE GROWTH. REALTIME TALENT PARTNERS WITH K-12 EDUCATION, POST-SECONDARY EDUCATION, INDUSTRY ASSOCIATIONS, COMMUNITY-BASED TRAINING ORGANIZATIONS, AND THE PUBLIC SECTOR TO ENSURE STUDENTS AND JOB-SEEKERS HAVE THE SKILLS AND EXPERIENCE NEEDED TO GROW IN HIGH-DEMAND OPPORTUNITIES. 176381 26500 0 2061030 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 29 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 4 3 0 0 0 1 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MN X MIKE LOGAN 6123709141 81 SOUTH 9TH STREET 200 MINNEAPOLIS MN 55402 CASSIE NELSON CHAIR 1.00 2.00 X X 0 0 0 DAVID PRINCE TREASURER 1.00 1.50 X X 0 0 0 JONATHAN WEINHAGEN FORMER PRESIDENT/CEO 19.00 21.00 X X 0 234561 43173 DARREL GERMAN BOARD CHAIR 1.00 0.50 X X 0 0 0 0 234561 43173 0 0 1 0 0 1480569 1500 1480569 TUITION INCOME 900099 122550 122550 EVENT ADMISSION 900099 11310 11310 133860 MISC REVENUE 900099 3259 3259 3259 1617688 133860 0 3259 26500 26500 1170757 1037600 133157 29351 29351 7200 7200 198162 198162 17759 15739 2020 39441 34955 4486 100230 88830 11400 20704 19782 922 6547 5802 745 28741 25472 3269 LICENSE EXPENSE 483632 483632 PROGRAM EXPENSE 85147 85147 COMMUNITY INVOLVEMENT 36439 36439 MERCHANT SERVICE FEES 2703 2703 4383 267 4116 2257696 2061030 196666 0 281353 527574 388142 63949 410905 89431 76080 30288 5152 506 180269 4646 0 156994 1336749 872882 359165 744603 45212 43880 206789 211180 163271 122077 774437 1121740 X 431414 -592103 130898 343245 562312 -248858 1336749 872882 -640008 -171162 0 X 0 1 X 1 0 X 644816 1147977 1598554 1464668 1480569 6336584 644816 1147977 1598554 1464668 1480569 6336584 593195 5743389 683 21162 21845 415346 2103 3259 420708 6779137 639965 0.84720 0.76490 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: TWINWEST MERGER INCOME - 2020 AMOUNT: $ 415,346. OTHER INCOME - 2022 AMOUNT: $ 2,103. 2023 AMOUNT: $ 3,259. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5152 506 4646 4646 RIGHT OF USE ASSET 156994 156994 LEASEHOLD IMPROVEMENT LIABILITY 122077 122077 1 SCHOLARSHIPS 20 26500 N/A N/A PART I, LINE 2: THE FOUNDATION AWARDS SCHOLARSHIPS TO STUDENTS WHO PARTICIPATE IN THEIR FUTURE LEADERS PROGRAM. NO MONITORING IS NECESSARY. 0 0 0 0 0 0 0 0 0 JONATHAN WEINHAGEN FORMER PRESIDENT/CEO 0 234561 0 0 0 0 0 10000 0 33173 0 277734 0 0 PART I, LINE 3 THE PRESIDENT/CEO'S COMPENSATION IS DETERMINED BY MINNEAPOLIS REGIONAL CHAMBER OF COMMERCE, A RELATED ORGANIZATION. THE RELATED ORGANIZATION USES THE FOLLOWING METHODS TO DETERMINE COMPENSATION: 1. COMPENSATION COMMITTEE 2. FORM 990 OF OTHER ORGANIZATIONS 3. WRITTEN EMPLOYMENT CONTRACT 4. COMPENSATION SURVEY OR STUDY 5. APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE FORM 990, PART VI, SECTION A, LINE 1A THE BOARD OF DIRECTORS MAY DESIGNATE THREE OR MORE OF ITS MEMBERS TO CONSTITUTE THE EXECUTIVE COMMITTEE. TO THE EXTENT DETERMINED BY THE BOARD, THE EXECUTIVE COMMITTEE HAS THE FULL AUTHORITY OF THE BOARD OF DIRECTORS IN THE MANAGEMENT OF THE BUSINESS OF THE FOUNDATION BETWEEN MEETINGS OF THE FULL BOARD. FORM 990, PART VI, SECTION A, LINE 5 IN 2024, THE ORGANIZATION BECAME AWARE OF A MATERIAL DIVERSION OF ASSETS OF THE CHAMBER FOUNDATION INVOLVING TRANSACTIONS BETWEEN 2019 AND 2022. THE DIVERSION OF ASSETS IS ESTIMATED TO BE $137,500 AND INVOLVED CASH PAYMENTS MADE FOR UNSUBSTANTIATED PURPOSES TO AN UNKNOWN VENDOR AND CASH PAYMENTS MADE FOR UNSUBSTANTIATED BUSINESS PURPOSES TO AN UNKNOWN CREDIT CARD. THE MANAGEMENT AND BOARD OF THE CHAMBER FOUNDATION ENGAGED SERVICES OF AN ATTORNEY TO INVESTIGATE THE DIVERSION OF ASSETS WHEN THE MATTER WAS DISCOVERED IN 2024. THE CHAMBER FOUNDATION IS CONTINUING TO INVESTIGATE THE MATTER TO DETERMINE FUTURE ACTIONS FOR RECOVERY OF THE DIVERTED ASSETS. THE CHAMBER FOUNDATION IS ALSO WORKING TO STRENGTHEN ITS INTERNAL CONTROL PROCEDURES TO ENSURE MEASURES ARE IN PLACE TO BOTH PREVENT AND DETECT A SIMILAR OCCURENCE IN THE FUTURE. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM. IT IS REVIEWED BY THE FINANCE COMMITTEE AND SENT ELECTRONICALLY TO ALL BOARD MEMBERS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY COVERS DIRECTORS, OFFICERS AND EMPLOYEES OF THE ORGANIZATION. EACH RESPONSIBLE PERSON MUST REVIEW THE POLICY AND ANNUALLY COMPLETE A DISCLOSURE FOR IDENTIFYING ANY RELATIONSHIPS, POSITIONS OR CIRCUMSTANCES IN WHICH THE RESPONSIBLE PERSON IS INVOLVED THAT HE OR SHE BELIEVES COULD CONTRIBUTE TO A CONFLICT OF INTEREST ARISING. ANY SUCH INFORMATION REGARDING A BUSINESS INTEREST IS GENERALLY MADE AVAILABLE TO THE CHAIR, THE PRESIDENT, EXECUTIVE DIRECTOR AND ANY COMMITTEE APPOINTMENT TO ADDRESS CONFLICTS OF INTEREST, EXCEPT TO THE EXTENT ADDITIONAL DISCLOSURE IS NECESSARY IN CONNECTION WITH THE IMPLEMENTATION OF THIS POLICY. A PERSON WHO HAS A CONFLICT OF INTEREST SHALL NOT PARTICIPATE IN DISCUSSIONS OF THE MATTER EXCEPT TO DISCLOSE MATERIAL FACTS AND TO RESPOND TO QUESTIONS. THE PERSON HAVING A CONFLICT OF INTEREST MAY NOT VOTE ON THE CONTRACT OR TRANSACTION AND SHALL NOT BE PRESENT IN THE MEETING ROOM WHEN THE VOTE IS TAKEN, UNLESS THE VOTE IS A SECRET BALLOT. PROCEEDINGS RELATED TO CONFLICTS OF INTEREST ARE DOCUMENTED IN THE MEETING MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. MINNEAPOLIS REGIONAL CHAMBER OF COMMERCE 81 SOUTH NINTH STREET MINNEAPOLIS MN 55402 411414520 CHAMBER OF COMMERCE MN 501(C)(6) N/A N/A 0 MOVE MINNEAPOLIS 81 SOUTH NINTH STREET MINNEAPOLIS MN 55402 411710866 TRANSPORTATION DEVELOPMENT MN 501(C)(4) N/A MINNEAPOLIS REGIONAL CHAMBER OF COMMERCE 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 1 0 1 0 0 MINNEAPOLIS REGIONAL CHAMBER OF COMMERCE O 1170758 ACTUAL COST