Hampton Roads Executive Roundtable

What it reported doing in 2024

Virginia initiative for growth and opportunity: hampton roads executive roundtable serves as the support organization for go va region 5. The time committed to fulfill that role includes processing and managing grants and providing staff support to the regional council. Only a portion of the costs incurred for staffing and grant management support are recovered through remittances issued to the commonwealth of Virginia. ($ 532,552 was spent in 2024 by the roundtable for salaries/benefits and specific operational costs shared with go va. Of that amount the roundtable was reimbursed $ 250,000). (continued on schedule o)jefferson lab high performance data facility (hpdf): the roundtable engaged teconomy partners to identify opportunities for regional economic development leverage of the hpdf supercomputing capabilities. The investment tied to this project is $ 154,900, with $ 99,900 reimbursed through a go Virginia planning grant. The product being the development of a situational analysis and recommendations for a regional innovation and commercialization initiative and possible development of an innovation district adjacent to jlab, considered a major resource in attracting and growing businesses and talent requiring these capabilities.maritime entry to employment training program (meet): the meet project has transformed how the hampton roads region prepares workers for high-demand maritime trades by creating an accelerated, technology-enabled training pipeline. By combining simulation-based training, hybrid online and in-person delivery, and direct industry engagement, meet created a replicable model that shortens learning curves, improves job readiness, and increases student engagement in traditionally difficult-to-fill trades. Meet exceeded the goal metrics of both students served, and businesses served. The total investment in this project was $ 1,704,740, with $ 1,090,527 coming from a go Virginia per capita grant.additional summaries, if needed: national defense industrial strategy (ndis): the roundtable convened meetings with us fleet forces command to discuss alignment of the business community with the ndis. Similarly, the roundtable has worked to connect military leaders with regional quality of life initiatives (i.e., childcare, housing, and mental health). We also coordinated with the hampton roads alliance's initiative for a "regional investment playbook" that aligns with our regional assets, including go Virginia funding in the amount of $100,000. Out-migration and talent attraction/retention initiative: a regional steering group led by the roundtable and hampton roads workforce council (hrwc) was established to identify: (1) talent retention and attraction initiatives and budget; and (2) potential funding and advocacy. State funding options with Virginia economic development partnership (vedp) were pursued, including a pilot project in hampton roads with current fiscal year vedp funds.

Financial Efficiency

• Mission deployment rate: 67.2%; rating input score 67
• Program expense ratio: 63%; rating input score 63
• Fundraising efficiency: Limited

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: 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: Fail
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Fail
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -6.6%; rating input score 21; 21st percentile among comparable filings
• Total-asset coverage ratio: 1.06; rating input score 45; 45th percentile among comparable filings
• Liabilities to assets ratio: 0.01; rating input score 66; 66th percentile among comparable filings
• Officer compensation ratio: 42.7%; rating input score 3; 3rd percentile among comparable filings

Growth

• Program expense growth: 0.1% per year; rating input score 100; 18th percentile among comparable filings
• Revenue growth: 3.8% per year; rating input score 100; 36th percentile among comparable filings
• Asset growth: 16.1% per year; rating input score 100; 75th percentile among comparable filings