Minnesota Black Chamber Of Commerce Incorporated
Minnesota Black Chamber Of Commerce shows strong financial growth and zero officer compensation.
EIN: 200722799 · Saint Paul, MN · NTEE: S41 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.6M |
| Total Expenses | $169K |
| Program Spending | 85% |
| Net Assets | $684K |
| Transparency Score | 90/100 |
Is Minnesota Black Chamber Of Commerce Incorporated Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Minnesota Black Chamber Of Commerce Incorporated directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Minnesota Black Chamber Of Commerce Incorporated
Minnesota Black Chamber Of Commerce Incorporated (EIN: 200722799) is a nonprofit organization based in Saint Paul, MN, classified under NTEE code S41. The organization reported total revenue of $1.6M and total assets of $1.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Minnesota Black Chamber Of Commerce Incorporated's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Minnesota Black Chamber Of Commerce Incorporated is a mid-size nonprofit that has been operating for 21 years, with 13 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 29.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $526K |
| Total Expenses | $169K |
| Surplus / Deficit | +$357K |
| Total Assets | $717K |
| Total Liabilities | $32K |
| Net Assets | $684K |
| Operating Margin | 67.9% |
| Debt-to-Asset Ratio | 4.5% |
| Months of Reserves | 50.9 months |
Financial Health Grade: A
In 2023, Minnesota Black Chamber Of Commerce Incorporated reported a surplus of $357K with revenue exceeding expenses, holds 50.9 months of operating reserves (strong position), has a debt-to-asset ratio of 4.5% (very low leverage).
Financial Trends
Over 13 years of filings (2010–2023), Minnesota Black Chamber Of Commerce Incorporated's revenue has grown at a compound annual growth rate (CAGR) of 29.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +73.8% | +10.9% | +106.4% |
| 2022 | +163.9% | +35.3% | +92.4% |
| 2021 | -23.5% | -17.3% | -15.0% |
| 2020 | +359.7% | +46.3% | +2.1% |
| 2019 | -19.6% | -2.1% | -20.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Minnesota Black Chamber Of Commerce Incorporated with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Minnesota Black Chamber Of Commerce Incorporated allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $357K, with revenue exceeding expenses.
- Debt-to-asset ratio: 4.5%.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating that no officers received compensation from the organization. This is a highly positive indicator, suggesting that leadership is either volunteer-based or compensated through other means, allowing more funds to be directed towards the organization's mission.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Strengths
The following positive indicators were identified for Minnesota Black Chamber Of Commerce Incorporated:
- Significant revenue growth, from $114,666 in 2021 to $526,065 in 2023.
- Consistent 0% officer compensation across all reported periods, indicating strong resource allocation to mission.
- Expenses significantly lower than revenue in recent years, particularly in 2023 ($168,918 expenses vs. $526,065 revenue), suggesting efficient operations or substantial reinvestment.
- Substantial increase in assets, from $180,472 in 2021 to $716,726 in 2023, enhancing long-term stability and capacity.
- Positive net assets (Assets exceeding Liabilities) in all reported periods, indicating financial solvency.
Frequently Asked Questions about Minnesota Black Chamber Of Commerce Incorporated
Is Minnesota Black Chamber Of Commerce Incorporated a legitimate charity?
Based on AI analysis of IRS 990 filings, Minnesota Black Chamber Of Commerce Incorporated (EIN: 200722799) appears legitimate. Mission Score: 90/100. 0 red flags identified, 5 strengths noted.
How does Minnesota Black Chamber Of Commerce Incorporated spend its money?
Minnesota Black Chamber Of Commerce Incorporated directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Minnesota Black Chamber Of Commerce Incorporated tax-deductible?
Minnesota Black Chamber Of Commerce Incorporated is registered as a tax-exempt nonprofit (EIN: 200722799). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Minnesota Black Chamber Of Commerce Incorporated's spending goes to programs?
Minnesota Black Chamber Of Commerce Incorporated directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Minnesota Black Chamber Of Commerce Incorporated compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Minnesota Black Chamber Of Commerce Incorporated is above average for NTEE category S41 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Minnesota Black Chamber Of Commerce Incorporated located?
Minnesota Black Chamber Of Commerce Incorporated is headquartered in Saint Paul, Minnesota and files with the IRS under EIN 200722799. It is classified under NTEE code S41.
How many years of IRS 990 filings does Minnesota Black Chamber Of Commerce Incorporated have?
Minnesota Black Chamber Of Commerce Incorporated has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $1.6M in total revenue.
Is Minnesota Black Chamber Of Commerce Incorporated a good charity?
Based on the provided financial data, the Minnesota Black Chamber Of Commerce Incorporated appears to be a good charity. It demonstrates strong financial growth, with revenue significantly outpacing expenses in recent years, and a consistent record of 0% officer compensation, indicating a strong commitment to its mission.
How has the organization's financial health changed over time?
The organization's financial health has significantly improved, especially from 2021 to 2023. Revenue grew from $114,666 in 2021 to $526,065 in 2023, and assets increased from $180,472 to $716,726 in the same period, indicating robust growth and increasing financial stability.
What is the organization's approach to executive compensation?
The organization's approach to executive compensation is notable for reporting 0% officer compensation in all available filings. This suggests a volunteer-driven leadership or alternative compensation structures, ensuring that financial resources are primarily allocated to programs and operations.
Filing History
IRS 990 filing history for Minnesota Black Chamber Of Commerce Incorporated showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2010–2023), Minnesota Black Chamber Of Commerce Incorporated's revenue has grown by 2840.6%, moving from $18K to $526K. Total assets increased by 5438.8% over the same period, from $13K to $717K. Total functional expenses rose by 983.6%, from $16K to $169K. In its most recent filing year (2023), Minnesota Black Chamber Of Commerce Incorporated reported a surplus of $357K, with revenue exceeding expenses. The organization holds $32K in liabilities against $717K in assets (debt-to-asset ratio: 4.5%), resulting in net assets of $684K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $526K | $169K | $717K | $32K | — | — |
| 2022 | $303K | $152K | $347K | $20K | — | View 990 |
| 2021 | $115K | $113K | $180K | $4K | — | View 990 |
| 2020 | $150K | $136K | $212K | $0 | — | — |
| 2019 | $33K | $93K | $208K | $9K | — | View 990 |
| 2018 | $41K | $95K | $261K | $2K | — | View 990 |
| 2017 | $77K | $86K | $315K | $2K | — | View 990 |
| 2016 | $59K | $78K | $332K | $10K | — | View 990 |
| 2015 | $104K | $86K | $343K | $1K | — | View 990 |
| 2014 | $82K | $77K | $375K | $52K | — | View 990 |
| 2012 | $17K | $24K | $7K | $0 | — | View 990 |
| 2011 | $28K | $27K | $14K | $0 | — | View 990 |
| 2010 | $18K | $16K | $13K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $526K, expenses of $169K, and assets of $717K (revenue +73.8% year-over-year).
- 2022: Revenue of $303K, expenses of $152K, and assets of $347K (revenue +163.9% year-over-year).
- 2021: Revenue of $115K, expenses of $113K, and assets of $180K (revenue -23.5% year-over-year).
- 2020: Revenue of $150K, expenses of $136K, and assets of $212K (revenue +359.7% year-over-year).
- 2019: Revenue of $33K, expenses of $93K, and assets of $208K (revenue -19.6% year-over-year).
- 2018: Revenue of $41K, expenses of $95K, and assets of $261K (revenue -47.3% year-over-year).
- 2017: Revenue of $77K, expenses of $86K, and assets of $315K (revenue +29.7% year-over-year).
- 2016: Revenue of $59K, expenses of $78K, and assets of $332K (revenue -43.1% year-over-year).
- 2015: Revenue of $104K, expenses of $86K, and assets of $343K (revenue +26.5% year-over-year).
- 2014: Revenue of $82K, expenses of $77K, and assets of $375K (revenue +385.2% year-over-year).
- 2012: Revenue of $17K, expenses of $24K, and assets of $7K (revenue -39.2% year-over-year).
- 2011: Revenue of $28K, expenses of $27K, and assets of $14K (revenue +56.2% year-over-year).
- 2010: Revenue of $18K, expenses of $16K, and assets of $13K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Minnesota Black Chamber Of Commerce Incorporated:
Data Sources and Methodology
This transparency report for Minnesota Black Chamber Of Commerce Incorporated is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.