Greater Sioux Falls Chamber of Commerce
Nonprofit profile at a glance
- EIN
- 460189300
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024
- Location
- Sioux Falls, SD, USA
- Phone
- 6053361620
- Rating
- 70
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $4,572,960
- Expenses
- $3,957,092
- Assets
- $13,478,351
- Liabilities
- $5,388,792
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
23 people listed
Executive titles in this filing
- JEFFREY GRIFFIN (PRESIDENT &)
Highest reported compensation
- JEFFREY GRIFFIN (PRESIDENT &): $282,392 total reported compensation
- CORY BUCK (CFO): $205,738 total reported compensation
- BRITTNEY HANSON (EXECUTIVE DI): $41,566 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
As the leading business advocate for the area, the greater sioux falls chamber of commerce represents its members by building consensus and creating strategies that advance and promote economic health and quality of life in the region.
What it reported doing in 2024
The agribusiness division's mission is to advance and promote the sioux empire as an agricultural center through events that provide a higher visibility of the industry and programs to enrich the economic stability of rural society and those associated with business involved with agriculture. Examples of annual agribusiness division events that capitalize on the division's true purpose: sioux empire livestock show, ag appreciation day and national farmer's day at the barn. While advancing and promoting the agrigculture industry stand as the primary goal of the agribusiness division, all activities and functions of the division serve as opportunities for further agricultural education and communication between the city and the community.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and program spending has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 68
- Transparency & Controls: 60
- Accountability: 95
- Sustainability: 61
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 64.6%; rating input score 65
- Program expense ratio: 73.3%; rating input score 73
- Fundraising efficiency: $28.02 raised per $1 spent on fundraising; rating input score 68; 68th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- 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: 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: 13.5%; rating input score 68; 68th percentile among comparable filings
- Total-asset coverage ratio: 3.41; rating input score 77; 77th percentile among comparable filings
- Liabilities to assets ratio: 0.4; rating input score 27; 27th percentile among comparable filings
- Officer compensation ratio: 9.6%; rating input score 31; 31st percentile among comparable filings
Growth
- Program expense growth: -14.4% per year; rating input score 0; 2nd percentile among comparable filings
- Revenue growth: 0.7% per year; rating input score 100; 14th percentile among comparable filings
- Asset growth: 7.2% per year; rating input score 100; 46th percentile among comparable filings
Details
- Where the money goes: 64.6% of revenue deployed · 73.3% of spending went to programs
- Governance: 20 of 20 board members independent · 8 of 9 filing controls reported
- Programs: 2 filed program accomplishments
- Leadership: top reported pay $282K · 23 people listed · 0 of 6 pay-setting controls reported
- Consistency: 29 of 29 current checks pass
- Schedules: 5 filed schedules · includes executive pay
- Filing history: 15 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- Related organizations: 1 filed related-organization link
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- High — Growth: Program expense growth scored 0/100.
- Review — Accountability: Governance controls: Other executive compensation review process not reported.
- High — Sustainability: Liabilities to assets ratio scored 27/100.
- Moderate — Sustainability: Officer compensation ratio scored 31/100.