Greater Richmond Chamber of Commerce

“The members of the chamber include any firm, corporation, partnership, sole proprietor, association, or other organization with a business interest in the greater richmond region, or any individual with a business interest in the greater richmond region who is not an owner, manager, or employee of an organization described above.”

“The members of the chamber elect the board of directors on an annual basis.”

“A copy of the form 990 was not provided to the board of directors before it was filed, but was provided to the treasurer and the entire audit committee for their review and feedback prior to filing.”

“The chamber annually requires directors to disclose in writing interests that could give rise to a conflict of interest. The audit and executive committees review all responses and determine appropriate actions or requests of those directors who are affected.”

“The process for determining the compensation of the current ceo, hired in 2019, was undertaken by a board authorized task force of chamber directors and members in consultation with a national human resources consulting firm. It included comparisons of compensation to peer chambers and not-for-profit organizations around the united states. The final compensation package was presented to the board of directors' executive committee for approval before an offer was made to the candidate. The board has since created a compensation committee to review the performance of the ceo and to make recommendations for salary and benefit increases should economic conditions and improvements warrant them. The process for determining compensation of the other officers or key employees of the organization (as well as other staff positions) include comparisons of compensation to peer chambers through review of an annual survey done by the american chamber of commerce executives as well as a local survey done by a local human resources consulting firm.”

“The chamber makes its form 990 and other documents, which are required to be made public according to irs regulations, available upon request at its offices in richmond, virginia.”

“The chamber does not generally make its governing documents, conflict of interest policy or financial statements available to the public, although it has routinely provided copies of its bylaws and audited financial statements to interested parties upon request.”

“Tech consulting 134,338. Financial consulting 6,539. Meeting facility consulting 65,360. Consulting other 182,589.”

“There was no change in the oversight or selection process for this year.”