Minnesota Chamber Foundation EIN 41-1453093 Form 990 (PDF) Claim this org

Minnesota Chamber Foundation

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Connects Minnesota businesses and communities to strengthen the state's economy and develop workforce solutions that help employers find skilled, qualified workers. For fiscal year 2024 it reported $1.0M in revenue, $1.1M in expenses, and $648K in net assets.Pt I

Founded
1983
Type
Public charity (501(c)(3)) · Public & Societal Benefit
Location
St Paul, MN
Website
mnchamber.com/minnesota-chamber-foundation
Filings
5 on file (2020–2024)
Revenue
$1.0MFY2024
Expenses
$1.1M
Net assets
$648K
People
21
Filings
5
Updates
0
More identity details & actions ⌄
EIN  41-1453093 Public charity (501(c)(3)) St Paul, MN Founded 1983
Form 990 (PDF)
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Size
$1–10M
What they do
Connects Minnesota businesses and communities to strengthen the state's economy and develop workforce solutions that help employers find skilled, qualified workers.
Leadership
Doug Loon · President/CEO
Money in and out
$1.0M revenue, $1.1M expenses
Bottom line
84% program efficiency
Where the money goes · FY2024
Total revenue
$1.0M
Pt VIII · Ln 12
Total expenses
$1.1M
Pt IX · Ln 25
Net assets
$648K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$36K
Where spending went · Part IX cols B–D
Program services $0.84 Management & general $0.15 Fundraising $0.01
Program efficiency
84%
of spending reaches programs▼ -5% vs prior filing year
Operating runway
8.7mo
months of highly liquid reserves at operating expense rate▲ +43% vs prior filing year
Surplus margin
-3%
revenue over expenses, this year▲ +12% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$1.0M
FY2024▼ -24%
Expenses
$1.1M
FY2024▼ -24%
Total assets
$879K
FY2024-0.1%
Total liabilities
$230K
FY2024▲ +18%
Total revenue
$1.0M
Pt VIII · Ln 12
Total expenses
$1.1M
Pt IX · Ln 25
Net assets
$648K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$36K
Total assetsPt X · Ln 16$879K
Program-expense ratioPt IX · col B84%
Voting members of governing bodyPt I · Ln 318
Independent voting membersPt I · Ln 416
Mission & Programs · Part III

Where the work happens

3 program services account for $893K of program spending, described in the organization's own filed words · FY2024.
01

Economic Research

In february of 2025, the minnesota chamber foundation released a "scorecard" on minnesota's environmental permitting system. This report, as a follow up to an extensive study the previous year, measured the progress on the minnesota pollution control agency in expediting the permitting process in the state.

$362Kprogram expense
02

Grow minnesota! Grow minnesota! Is a statewide business and retention initiative in partnership with local chambers of commerce. Grow minnesota! Was integrated into the foundation in 2025 to align with the goals of the foundation, and in coordination with the economic research and workforce development efforts. Grow minnesota!

$337Kprogram expense
03

Center for workforce solutions the center for workforce solutions is designed to provide private sector solutions to the workforce challenge facing minnesota employers. The center has multiple focus areas. The first, is the business education network (ben) formed in 2015.

$194Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CMinnesota Chamber Foundation
EINHdr · item D41-1453093
Principal addressHdr · item CSt Paul, MN
Year of formationHdr · item L1983
State of legal domicileHdr · item MMN
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFPublic & Societal Benefit (W11)
Ruling yearIRS BMFOct 1983

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a18
Independent voting membersPt VI · Ln 1b16
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President/CEO
$0Pt VII · Sec A
Executive Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Past Chair
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants$646K · 63%
Program service revenue$384K · 37%
Contributions & grants63%$646K
Program service revenue37%$384K
Total revenueLn 12$1.0M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.84 Management & general $0.15 Fundraising $0.01
Program services84%$893K
Management & general15%$160K
Fundraising1%$13K
Total functional expensesLn 25$1.1M

Balance Sheet

Part X · end of year
CashLn 1$776K
Total assetsLn 16$879K
Total liabilitiesLn 26$230K
Total net assetsLn 32$648K
Months of cash on handcomputed8.7

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $776K · Operating expenses/yr $1.1M
8.7 months
Where the money goes
Program services
Program services $893K · Total expenses $1.1M
84%
Management & General
Management & general $160K · Total expenses $1.1M
15%
Fundraising
Fundraising $13K · Total expenses $1.1M
1%
Cost to raise $1
Fundraising expense (3-yr avg) $13K · Solicited contributions (3-yr avg) $905K
$0.01 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $646K · Total revenue $1.0M
63%
Government reliance
Government grants — · Total revenue $1.0M
Earned-income share
Program service revenue $384K · Total revenue $1.0M
37%
Investment reliance
Investment income $0 · Total revenue $1.0M
0%
Program self-sufficiency
Program service revenue $384K · Total expenses $1.1M
36%
Growth & trend
Revenue growth (YoY)
This year $1.0M · Prior year $1.4M
-24%
Revenue CAGR
FY2019 $1.1M · FY2024 $1.0M
-0.4%
Net-asset trend (YoY)
End of year $648K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.0M · Expenses $1.1M
-3%
Liabilities-to-Assets
Total liabilities — · Total assets $879K
Net-asset ratio
Net assets $648K · Total assets $879K
74%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $879K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Doug Loon · Reported title PRESIDENT/CEO · Highest reported compensation $0 · Total expenses $1.1M
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $415K · Total expenses $1.1M
39%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 84%
Overhead ratio 15%
Fundraising cost ratio 2%
Revenue growth -24%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 7 funders →
Grants paid · 80 grants · $1.1M · 2019–2024
Twins BallparkFY2024$7,000
Pura Vida OrthodonticsFY2024$7,000
Highland Collision CenterFY2023$51,913
Hd Coin LaundryFY2023$11,025
Gassen CompanyFY2023$10,927
Faneta Development LLCFY2023$9,384
Uni-Systems LLCFY2023$8,003
Sagal ManagementFY2023$8,000
Millerbernd ManufacturingFY2023$8,000
Edge AssociatesFY2023$8,000
Springfield Area Food ShelfMN · FY2023$7,093
Hmong Village INCFY2023$7,000
Artistic FinishesFY2023$6,759
Source Mn INCMN · FY2023$5,817
O'Leary Auto Body INCFY2022$50,000
Elite CleanersFY2022$43,000
Minneapolis Propco LLCFY2022$34,000
See all 80 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$1.4M revenue · ⤓ 990 PDF
FY2023$1.2M revenue · ⤓ 990 PDF
FY2022$930K revenue · ⤓ 990 PDF
FY2021$942K revenue · ⤓ 990 PDF
FY2020$1.1M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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