Chapel Hill-carrboro Chamber of Commerce

What it reported doing in 2024

The chamber had the following program accomplishments in 2024: clients served: 600 businesses and nonprofit members, and a network of 2500 business and community leaders, 1000+ relocators, and 1000+ visitors.successfully connected members to the people, information, and resources they need to thrive; advocated for local business interests; and drove progress and built community.organized and managed more than one hundred online and in person meetings and events to keep members informed and connected and that helped improve the local ecosystem and infrastructure needed to help enterprises succeed.administered small business grants and provided technical assistance and support to local enterprises.strengthened chamber export services and helped businesses export hundreds of products through chamberexport.com.partnered to serve more than 500 chamber member employees in the small business health plan providing high-quality, low-cost health and dental services.achieved 90% member satisfaction and member retention rate.successfully supported small business job growth, expansion, development, and success.successfully advocated for improvements to the local government development and business regulations.partnered with local economic development organizations to recruit new employers to the region.saved members thousands of dollars through 8 strategic partnerships and 20+ member to member benefits.recognized best-in-class businesses at the 10th annual business excellence awards.provided hundreds of online referrals to member businesses.welcomed dozens of new members to the chamber.delivered monthly, member government briefings on key government issues and changes affecting their businesses.organized industry professional calls for real estate, non-profits, and retailers.partnered to produce a visitor and relocation magazine and community map to connect business with their customers.exceeded the $1.4 million goal of the campaign for a greater chapel hill-carrboro and expanded staff and grew organizational capacity to advance a clear set of community objectives focused on strengthening small business support, workforce development, and affordable housing.partnered with the partnership for a greater chapel hill-carrboro to organize an intercity visit and leadership conference in ann arbor Michigan.

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: 4 of 6 controls in place; rating input score 67
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Pass
  • Written employment contract: Pass
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 4 of 8 controls in place; rating input score 50
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Fail
  • Document-retention policy: Fail
  • CEO compensation review process: Pass
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Missing
  • Independent financial-statement audit: Fail

Sustainability

• Operating margin: 4.8%; rating input score 50; 50th percentile among comparable filings
• Total-asset coverage ratio: 0.44; rating input score 21; 21st percentile among comparable filings
• Liabilities to assets ratio: 0.72; rating input score 10; 10th percentile among comparable filings
• Officer compensation ratio: 18.7%; rating input score 16; 16th percentile among comparable filings

Growth

• Program expense growth: Limited
• Revenue growth: 4.3% per year; rating input score 100; 39th percentile among comparable filings
• Asset growth: 5.4% per year; rating input score 100; 40th percentile among comparable filings