Aberdeen Area Chamber of Commerce

What it reported doing in 2024

The Aberdeen Area Chamber of Commerce has been an established voluntary non-profit membership organization since 1884. Today, we are 590 members strong with over 350 active volunteers that help facilitate and participate in the Chamber's activities and events. As a non-profit, 501(c)(6) corporation, the Chamber supports and speaks for those engaged in business, industry, agriculture, transportation, education, healthcare and private sector enterprises. In a nutshell, we seek to make commerce happen through business expansion and attraction, as well as the advocacy efforts that help improve business in our area.Our vision is to bring businesses and individuals together to build consensus on business issues and community goals. Our mission is to serve as the leading business advocate for the economic health and vitality of our membership, our community, and the greater Aberdeen area. The Chamber pursues its vision and mission by:- Serving the region as the central networking organization from which ideas, resources and assets can be drawn;- Unifying and advancing membership, community and regional interests;- Cultivating future leadership and advancing opportunities locally and regionally;- Educating businesses and individuals on workforce readiness and development issues; and- Promoting and encouraging growth of the membership, community, and area.The Chamber is funded by membership investments and event revenue. We facilitate several community-based programs and initiatives with the assistance of volunteers who serve within the committee structure. Committees include healthcare, workforce and education, transportation, agriculture, government affairs, community pride, military/veterans, the network (formerly young professionals), diplomats, and ambassadors. In addition, we host community events and several programs including, but not limited to, the ABBY Awards, the Community Champions Luncheon, New Teacher/Faculty Luncheon, Agriculture Appreciation Banquet, Business After Hours, Residential Cleanup, and the Community Gift Certificate Program.

Financial Efficiency

• Mission deployment rate: Limited
• Program expense ratio: Limited
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Limited
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 3 of 9 controls in place; rating input score 33
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Fail
  • Document-retention policy: Fail
  • CEO compensation review process: Fail
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Fail

Sustainability

• Operating margin: 1.7%; rating input score 41; 41st percentile among comparable filings
• Total-asset coverage ratio: 0.91; rating input score 40; 40th percentile among comparable filings
• Liabilities to assets ratio: 0.73; rating input score 10; 10th percentile among comparable filings
• Officer compensation ratio: 23.9%; rating input score 11; 11th percentile among comparable filings

Growth

• Program expense growth: Limited
• Revenue growth: 1.5% per year; rating input score 100; 21st percentile among comparable filings
• Asset growth: 4.5% per year; rating input score 100; 36th percentile among comparable filings