Rogers-lowell Area Chamber of Commerce

What it reported doing in 2024

Programs and activities designated to preserve, promote, and enhance commerce in the city of rogers, Arkansas through developing and involving leaders, honoring and serving all businesses in the community, promoting free enterprise, and educating the community through conferences and advertising.the chamber staff assisted 93 individuals seeking resources on starting a small business. The chamber hosted over 200 students across the kindergarten to job (k2j) connect workforce development programs focusing on careers in hospitality and early childhood education. We fostered a business environment leading to the creation of over 1,800 jobs in the city of rogers, including over 315 million dollars of new commercial developments, either announced or opened throughout rogers.programs and activities designated to preserve, promote, and enhance commerce in the city of rogers, Arkansas through developing and involving leaders, honoring and serving all businesses in the community, promoting free enterprise, and educating the community through conferences and advertising.the chamber continues to hold a five-star accreditation with the u.s. Chamber of commerce. Accreditation with the united states chamber of commerce defines excellence in chamber planning and recognizes outstanding contributions toward positive change in their communities. Accreditation statistics, as june 2024, out of the 7,000 chambers in the united states, only 190 chambers are accredited. These elite chambers represent the top 4% of all chambers in the united states. The national local and metro chamber accreditation statistics are as follows. 2 are accredited 7 are 3-star 28 are 4-star 146 are 5-starin 2024, the chamber added 225 new memberships with a year-end of 1,933 members. Hosted 301 events and programs including 147 business networking events for our members.downtown rogers experienced the growth of 32 new businesses in 2024 including: additions to the professional services and vendor community: branded, hair on fire tech (a marketing firm), freedom dreamer photography, specialized hail company, demon bikini (light manufacturing), altangl (light manufacturing).salons: tl beauty school & salon, vip hair salon, hairology, eden birth & wellness, andrea certified trichologist, 479 counseling, yoga story dtr, the best massage salonentertainment: drew divilbiss fine art, kaleidoscope collective, the music depot, the place inretail: big e's caps and accessories, c. White's jewelry, the ginger gypsy, the parlour room/underbrush books restaurants: crow's nest cafe, the chef's garage, pinky swear, house 1830, pub on the bricks. There are 121 multifamily units under construction and 48 multifamily units in planning.visit rogers continued to work with the community drawing in visitors, groups and events into the community. 228 leads and 109,270 room nights were sourced in 2024. In 2024, our strategic areas of focus included destination marketing, economic development, downtown development, workforce recruitment and retention, government affairs, small business outreach, community education and leadership programs, and long-range community planning to improve quality of life.

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: 1 of 6 controls in place; rating input score 17
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Limited
• Related-party transparency: Limited

Accountability

• Independent voting board: 95.5%; rating input score 95; 26th percentile among comparable filings
• Governance controls: 7 of 9 controls in place; rating input score 78
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Fail
  • 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: 4.2%; rating input score 48; 48th percentile among comparable filings
• Total-asset coverage ratio: 0.98; rating input score 36; 36th percentile among comparable filings
• Liabilities to assets ratio: 0.34; rating input score 31; 31st percentile among comparable filings
• Officer compensation ratio: 62%; rating input score 1; 1st percentile among comparable filings

Growth

• Program expense growth: Limited
• Revenue growth: 1.7% per year; rating input score 100; 19th percentile among comparable filings
• Asset growth: 6.1% per year; rating input score 100; 40th percentile among comparable filings