Chamber of Commerce for Greater Philadephia

What it reported doing in 2024

The economic competitiveness program advanced the chamber's work to attract and expand companies, capital, and talent in the greater philadelphia region. The chamber engaged c-suite leaders from member companies, partners, and investors to amplify the region's competitive advantages and accelerate equitable economic growth. The program prioritized activities in the technology and life sciences sectors, implemented a multi-platform approach to address the region's talent and workforce challenges, and built partnerships and marketing campaigns to ensure companies and talent select greater philadelphia.in fy25, the chamber managed a pipeline of 256 new business attraction, expansion, and retention leads and prospects. The chamber supported 24 companies in making pro-greater philadelphia decisions for new locations (6), expansions (18), or retention projects. Targeted marketing campaigns generated 17.7 million impressions and 29,103 conversions through business and talent attraction digital ads. The chamber's talent attraction campaign (stayforphilly.com), launched in february 2025 in partnership with visit philadelphia, generated 1.57 million impressions, 66,800 site views, and 6,400 job board interactions.the greater philadelphia talent network engaged 18 regional colleges and universities and 20 workforce development organizations, hosting 6 inclusive talent solutions gatherings that reached more than 350 individuals across technology, building trades, energy, business, healthcare, infrastructure, and life sciences industries.the diverse procurement collaborative network connected 72 buyer companies with 40 diverse suppliers, facilitating $82.2 million in regional black and brown spend among network members.the chamber secured 322 positive earned media placements highlighting the region's assets and targeted industries. The chamber published research including "leading the way: cell and gene therapy in greater philadelphia and partnered with campus philly on research regarding college graduate retention and international student contributions to the regional talent pool.the chamber partnered with the pew charitable trusts and regional economic development partners to develop an integrated economic growth and workforce strategy. [note: you may want to add information about the se pa regional prosperity partnership here if that's appropriate for this tax year]these activities advanced the chamber's exempt purpose by attracting new businesses and jobs to the region, supporting business expansion and retention, developing regional talent pipelines, promoting supplier diversity and inclusive economic growth, and enhancing the region's reputation as a competitive location for business investment.

Financial Efficiency

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

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
• Pay-setting controls: 3 of 6 controls in place; rating input score 50
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Pass
  • Compensation survey or study: Missing
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Scored; rating input score 0

Accountability

• Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
• Governance controls: 8 of 9 controls in place; rating input score 89
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -5.3%; rating input score 16; 16th percentile among comparable filings
• Total-asset coverage ratio: 1.4; rating input score 48; 48th percentile among comparable filings
• Liabilities to assets ratio: 0.35; rating input score 41; 41st percentile among comparable filings
• Officer compensation ratio: 17.2%; rating input score 6; 6th percentile among comparable filings

Growth

• Program expense growth: Limited
• Revenue growth: 6.4% per year; rating input score 100; 55th percentile among comparable filings
• Asset growth: 4.3% per year; rating input score 100; 31st percentile among comparable filings