Attach to Form 990 or 990-EZ.| Identifier | Return Reference | Explanation |
|---|---|---|
| ORGANIZATON'S MISSION | FORM 990, PART III, LINE 1 | SUMMARY OF STRATEGIC KEY THEMES - ALIGN EFFORTS AROUND STRATEGIC PRIORITIES - LEVERAGE STATEWIDE FOOTPRINT - FULLY UTILIZE BOARD OF DIRECTORS - FURTHER ENHANCE MEMBERSHIP PARTICIPATION AND ROI - INCREASE COLLABORATION ON STRATEGIC ISSUES STATEWIDE - ADVANCE KNOWLEDGE OF CRITICAL ISSUES IMPACTING INDIANA'S ECONOMY - PURSUE AND MAINTAIN A HIGH LEVEL OF TRUST |
| CLASSES OF MEMBERS OR STOCKHOLDERS | FORM 990, PART VI, QUESTION 6 | THE INDIANA CHAMBER OF COMMERCE, INC. IS A NOT-FOR-PROFIT CORPORATION WITH MEMBERS THAT RECEIVE BENEFITS. |
| PROCESS TO REVIEW THE FORM 990 | FORM 990, PART VI, QUESTION 11A | THE 990 IS REVIEWED IN DETAIL BY THE TREASURER, THE FINANCE AND AUDIT COMMITTEE, AND AN INDEPENDENT ACCOUNTING FIRM PRIOR TO FILING. IN ADDITION, A HARD COPY OF THE FORM 990 IS DISTRIBUTED TO FULL VOTING MEMBERS OF THE BOARD (EXECUTIVE COMMITTEE) FOR THEIR REVIEW PRIOR TO FILING. |
| PROCESS FOR MONITORING COMPLIANCE WITH CONFLICT OF INTEREST POLICY | FORM 990, PART VI, QUESTION 12C | A QUESTIONNAIRE IS SENT OUT ANNUALLY TO ALL OFFICERS, DIRECTORS, AND KEY EMPLOYEES TO DISCLOSE PERSONAL AND BUSINESS RELATIONSHIPS. THE QUESTIONNAIRES ARE REVIEWED ANNUALLY. IF A CONFLICT EXISTS RESTRICTIONS WILL BE IMPOSED ON PERSONS WITH A CONFLICT SUCH AS PROHIBITING THEM FROM PARTICIPATING IN THE GOVERNING BODY'S DELIBERATIONS AND DECISIONS IN THE TRANSACTIONS. |
| REVIEW OF CEO, TOP MGMT OFFICIAL, AND KEY EMPLOYEES COMPENSATION | FORM 990, PART VI, QUESTION 15A & 15B | THE PROCESS FOR DETERMINING COMPENSATION OF THE CEO AND KEY EMPLOYEES INVOLVES AN ANNUAL REVIEW AND APPROVAL FROM THE COMPENSATION COMMITTEE AND THE EXECUTIVE COMMITTEE AS WELL AS A COMPENSATION STUDY. THE COMPENSATION STUDY IS DERIVED FROM OUTSIDE THIRD PARTIES SUCH AS THE US CHAMBER OF COMMERCE, THE AMERICAN SOCIETY OF ASSOCIATION EXECUTIVES, THE COUNCIL OF STATE CHAMBERS AND GUIDESTAR. THE PRESIDENT'S LAST COMPENSATION REVIEW WAS IN NOVEMBER 2013. |
| PUBLIC DISCLOSURE | FORM 990, PART VI, QUESTION 19 | THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS (BYLAWS) AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC ON THE INDIANA CHAMBER OF COMMERCE WEBSITE. FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. |
| OTHER CHANGES IN NET ASSETS OR FUND BALANCES | FORM 990, PART XI, LINE 9 | FAS 158 MINIMUM PENSION LIABILITY ADJUSTMENT $ 2,076,252 |
| CHANGES TO DEFINED BENEFIT PLAN | FORM 990, PART XI | SUBSEQUENT TO YEAR END, THE BOARD OF DIRECTORS VOTED TO TERMINATE THE ORGANIZATION'S DEFINED-BENEFIT PENSION PLAN AND FREEZE THE ACCRUAL OF BENEFITS AS OF FEBRUARY 20, 2014. IN CONJUNCTION WITH THE PLAN TERMINATION, THE ORGANIZATION ALSO ADOPTED AN AMENDMENT TO CREDIT PARTICIPANTS WITH ADDITIONAL YEARS OF SERVICE, UP TO A MAXIMUM OF THREE YEARS, BASED UPON THE LENGTH OF THEIR EMPLOYMENT. THE ADDITIONAL YEARS OF SERVICE IS CAPPED WHEN PARTICIPANTS REACH A TOTAL OF THIRTY YEARS OF SERVICE. THIS AMENDMENT LED TO A DECREASE IN THE PROJECTED BENEFIT OBLIGATION. |
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