Round Rock Chamber of Commerce Inc

What it reported doing in 2024

The round rock chamber's economic development strategy stimulates job creation, encourages business investment, nurtures existing local companies, and expands the city's economic base. We focus on recruitment of new businesses and expansion of existing businesses across a diverse set of industries. Entrepreneurs, startups, and small businesses are thriving as a result of the chamber's programs, initiatives, and expertise. Notable initiatives included executing our first startup day during national small business week, celebration of our 75th anniversary, completion of a five-year strategic plan for economic development and community enhancement, and our first intercity visit to williamson county, tn to further develop best practices.workforce development and education are key areas of work in partnership with primary, secondary, and post-secondary institutions in round rock and williamson county. The chamber's talent development council drives specific initiatives to develop successful career pathways for round rock students while creating solid talent pipelines for area employers.for over 35 years, the chamber has cultivated local leaders and raised awareness of issues and opportunities through our leadership round rock program. During 2024, the chamber expanded our young professionals program, diversity, equity & inclusion committee and plan of work, and hosting our women who mean business power lunch. The chamber acts as a trusted convener for policymakers and the business community through our events, committees, and programs while working to facilitate federal, state, and local cooperation. In times of need, the round rock chamber leads efforts and financial campaigns to aid affected families (such as the aftermath of the march 21, 2022 tornado when 680 homes were affected and damages were over $32 million).

Financial Efficiency

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

Transparency & Controls

• Consistency checks: 91.7%; rating input score 92; 7th percentile among comparable filings
• Pay-setting controls: 4 of 6 controls in place; rating input score 67
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Pass
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 97.4%; rating input score 97; 33rd percentile among comparable filings
• Major donor itemization: Limited
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • 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%; rating input score 48; 48th percentile among comparable filings
• Total-asset coverage ratio: 1.28; rating input score 46; 46th percentile among comparable filings
• Liabilities to assets ratio: 0.19; rating input score 45; 45th percentile among comparable filings
• Officer compensation ratio: 16.5%; rating input score 16; 16th percentile among comparable filings

Growth

• Program expense growth: Limited
• Revenue growth: 4.9% per year; rating input score 100; 40th percentile among comparable filings
• Asset growth: 9.6% per year; rating input score 100; 57th percentile among comparable filings