Attach to Form 990 or 990-EZ.| Identifier | Return Reference | Explanation |
|---|---|---|
| FORM 990, PART VI, SECTION A, LINE 2 | CHRISTINE LANDA, DIRECTOR HAS A BUSINESS RELATIONSHIP WITH CHUCK PETERS, CHAIR, NANCY KASPAREK, CHAIR ELECT, TIM KINTNER, DIRECTOR, AND BRANDT WORLEY, DIRECTOR TO THE EXTENT THAT MS. LANDA IS EMPLOYED BY A SEPARATE TAX-EXEMPT ORGANIZATION WITH WHICH THE LATTER INDIVIDUALS ARE ASSOCIATED AS TRUSTEES. | |
| FORM 990, PART VI, SECTION A, LINE 3 | THE ORGANIZATION UTILIZES AN OUTSIDE MANAGEMENT COMPANY TO MANAGE ITS FINANCIAL OPERATIONS. | |
| FORM 990, PART VI, SECTION A, LINE 4 | THE FOLLOWING AMENDMENTS TO THE ORGANIZATION'S BYLAWS WERE ADOPTED DURING THE YEAR: - ELIMINATION OF VOTING RIGHTS FOR MEMBERS OF THE CHAMBER. - CLARIFICATION THAT MEMBERS IN THE CHAMBER ARE NON-VOTING MEMBERS AND THAT ALL VOTING AUTHORITY RESTS WITH THE ORGANIZATION'S BOARD OF DIRECTORS. - CLARIFICATION THAT ELECTION OF NEW DIRECTORS SHALL BE BY AFFIRMATIVE VOTE OF A MAJORITY OF THE BOARD OF DIRECTORS IN OFFICE AT THE TIME OF SUCH ELECTION. - ELIMINATION OF LANGUAGE STATING THAT ANY ASSETS OR PROPERTY SHALL BE TRANSFERRED SPECIFICALLY TO THE CEDAR RAPIDS AREA CHAMBER OF COMMERCE FOUNDATION UPON DISSOLUTION. | |
| FORM 990, PART VI, SECTION B, LINE 11 | THE OUTSIDE TAX PREPARER REVIEWS THE FORM 990 WITH THE OUTSIDE MANAGEMENT COMPANY RESPONSIBLE FOR FINANCIAL OPERATIONS. THE FORM 990 IS THEN REVIEWED BY THE FINANCE COMMITTEE OF THE BOARD OF DIRECTORS. ALL QUESTIONS AND CONCERNS ARE ADDRESSED TO FULL SATISFACTION BEFORE BECOMING FINAL. THE FINAL FORM 990 IS PROVIDED TO THE FULL BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS. | |
| FORM 990, PART VI, SECTION B, LINE 12C | OFFICERS, DIRECTORS, AND KEY EMPLOYEES ARE REQUIRED TO COMPLETE AND RETURN QUESTIONNAIRES ANNUALLY WHICH ARE REVIEWED BY THE ORGANIZATION'S MANAGEMENT. | |
| FORM 990, PART VI, SECTION B, LINE 15A | EXECUTIVE COMPENSATION IS ESTABLISHED ANNUALLY BY THE EXECUTIVE EVALUATION AND COMPENSATION COMMITTEE. THE CHAMBER'S CHIEF EXECUTIVE OFFICER IS RESPONSIBLE FOR THE COMPENSATION SET FOR OTHER OFFICERS AND STAFF OF THE ORGANIZATION. IN ALL INSTANCES, COMPARATIVE SALARY AND BENEFIT INFORMATION IS REVIEWED IN ESTABLISHING THE APPROPRIATE LEVEL OF COMPENSATION FOR OFFICERS AND STAFF. IN THE EVENT TOTAL COMPENSATION COULD EXCEED ANNUALLY BUDGETED AND APPROVED LIMITS, FORMAL CHAMBER BOARD OF DIRECTOR AUTHORIZATION IS REQUIRED. | |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. | |
| FORM 990, PART VII, SECTION A, COLUMN (A): | THE PRESIDENT/CEO OF THE ORGANIZATION HAS ULTIMATE MANAGEMENT AND FINANCIAL AUTHORITY AND IS RESPONSIBLE FOR OVERSIGHT OF THE ORGANIZATION AS A WHOLE. THEREFORE, THE PRESIDENT/CEO REPRESENTS BOTH THE TOP MANAGEMENT OFFICIAL AND TOP FINANCIAL OFFICIAL FOR PURPOSES OF THE FORM 990. | |
| CHANGES IN NET ASSETS OR FUND BALANCES: | FORM 990, PART XI, LINE 5: | NET UNREALIZED GAINS ON INVESTMENTS: 122,556. NET INCOME OF CONSOLIDATED ENTITY MARION CHAMBER OF COMMERCE 1,553. NET INCOME OF CONSOLIDATED ENTITY CR AREA CHAMBER OF COMMERCE FOUNDATION -19,345. TOTAL TO FORM 990, PART XI, LINE 5: 104,764. |
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