Sheridan County Chamber of Commerce

What it reported doing in 2024

The sheridan county chamber of commerce's mission is to be a catalyst for business prosperity and a champion for a stronger community, and our vision is to be the number one resource for business in sheridan county. We remain committed to the following objectives: 1) actively promote a healthy business and economic climate for our area. 2) create a better understanding and appreciation of the importance of local area businesses and a concern for their problems. 3) represent the business community in city, county, state, and national legislative and political affairs. 4) promote business and community growth and development, as well as retention and expansion of existing businesses. 5) discover and correct circumstances which prevent the promotion of business expansion and community growth. 6) promote programs of a civic, social, and cultural nature which increase the functional and aesthetic values of the community. 7) continue to promote tourism for the county and to work closely with the city of sheridan and sheridan travel and tourism. The chamber serves as the primary conduit for information about our community, from requests for general community and event information to inquiries about relocation of families and businesses to our area. The chamber provides a critical link between those seeking information and resources within our communities and the agencies, businesses, and organizations that provide those resources. The chamber works closely with area businesses and state and local governmental officials in the development of public policy that may affect business health in the sheridan area. The chamber provides a public forum for introduction of candidates during an election and hosts area legislators for public information sessions prior to each legislative session. The chamber fosters communication and collaboration between area businesses, helping to create community synergy through information sharing, leveraging of resources, and the development of business connections. We offer many networking opportunities for businesspeople, including chamber luncheons, business before hours and business after hours events. The chamber plays an active role in economic development in sheridan county by maintaining a continuous business retention and expansion focus and by working closely with businesses, agencies, and organizations to facilitate specific economic development projects. The chamber is a key part of sheridan's economic development task force and works closely with many government entities, non-profits, and focus groups throughout sheridan county. The chamber maintains a "chamber bucks" bank account for the specific purpose of keeping dollars in our community. The chamber bucks program has been running successfully for many years. In addition, the chamber dedicates funds to a shop local marketing campaign and utilizes multiple media outlets to spread the message and helps create more understanding on the impact keeping dollars here locally has on the overall health of our community. Our chamber of commerce played an integral part in the development of the Wyoming chambers health benefit plan in 2007, a self-insured plan which pays its own claims up to a stop-loss limit beyond which "excess insurance" comes into play. The chamber distributes convention packets and provides information via our dynamic website. The chamber also provides relocation information packages at no cost to the requestor. The chamber creates & distributes community maps and community guides. The staff continues to handle dozens of inquiries each day about the sheridan area and the sheridan business community, by telephone, email, and walk-ins. This year the chamber coordinated a professional development conference, chamber coffees, workshops, sheridan wyo rodeo boot kickoff, leadership sheridan county program, 4-h/ffa buyers dinner, fundraisers, candidate forum & legislative forums, eggs & issues, manufacturing day tours and the christmas str

Financial Efficiency

• Mission deployment rate: 88.7%; rating input score 89
• Program expense ratio: 83.6%; rating input score 84
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: Limited
• 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: 3 of 7 controls in place; rating input score 43
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Fail
  • Document-retention policy: Fail
  • CEO compensation review process: NotApplicable
  • 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: -5.5%; rating input score 23; 23rd percentile among comparable filings
• Total-asset coverage ratio: 0.61; rating input score 28; 28th percentile among comparable filings
• Liabilities to assets ratio: 0.09; rating input score 44; 44th percentile among comparable filings
• Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

• Program expense growth: 4.1% per year; rating input score 100; 37th percentile among comparable filings
• Revenue growth: 4.8% per year; rating input score 100; 43rd percentile among comparable filings
• Asset growth: 6.1% per year; rating input score 100; 44th percentile among comparable filings