Attach to Form 990 or 990-EZ.| Identifier | Return Reference | Explanation |
|---|---|---|
| Part VI - GOVERNANCE, MANAGEMENT, AND DISCLOSURE | SECTION A, Line 6 | FLORIDA CHAMBER OF COMMERCE IS A MEMBERSHIP ORGANIZATION. Line 7A The organization's members elect members to the board of directors. Section B, Line 11 The Form 990 is reviewed by the organization's CFO for accuracy. A copy is provided to the audit committee for their review and comments in consultation with the organization's CFO and independent CPA. The Form 990 is then provided to the members of the Board of Directors for review and comment. Any questions or changes to the Form 990 and all accompanying schedules are resolved with the CFO and independent accounting firm prior to filing the return with the Internal Revenue Service. Distribution of Form 990 and accompanying schedules may be in the form of electronic mail, regular mail or notification of a link on the organization's website. Line 12C The organization's conflict of interest policy is provided at each board meeting. Members are required to sign a statement and disclose any conflicts of interest. Any potential conflicts of interest are resolved by the board president. Line 15 The executive committee reviews and approves the compensation of the President/CEO. The executive committee has been granted authority by the board to act as the compensation committee. The president's employment contract is approved and renewed annually. The last compensation study was performed in 2013. Section C, Line 19 The organization's governing documents, conflict of interest policy, and financial statements are available to the public upon request. Part XI - Reconciliation of Net Assets Line 9 Interest Rate Change - SWAP: $24,787 Gain from Subsidiaries: $508,156 In-kind revenue: $244 Part XII - Financial Statements and Reporting Line 2c Audit committee meets with the independent auditors prior to the start of the engagement in order to conduct a planning meeting. Committee members are available during the audit process, as necessary, to discuss any pertinent issues with the auditors. The committee conducts an exit meeting with the auditors, where the draft of the audit is reviewed and discussed. Once satisfied, the audit committee and the independent auditors present the auditor reports and the audited financial statements to the Board with the audit committee's recommendation for acceptance by the Board. |
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