Attach to Form 990 or 990-EZ.
Information about Schedule O (Form 990 or 990-EZ) and its instructions is at| Return Reference | Explanation |
|---|---|
| FORM 990, PART III, LINE 1 | ORGANIZATON'S MISSION 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 |
| FORM 990, PART VI, QUESTION 6 | CLASSES OF MEMBERS OR STOCKHOLDERS THE INDIANA CHAMBER OF COMMERCE, INC. IS A NOT-FOR-PROFIT CORPORATION WITH MEMBERS THAT RECEIVE BENEFITS. |
| FORM 990, PART VI, QUESTION 11A | PROCESS TO REVIEW THE FORM 990 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. |
| FORM 990, PART VI, QUESTION 12C | PROCESS FOR MONITORING COMPLIANCE WITH CONFLICT OF INTEREST POLICY 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. |
| FORM 990, PART VI, QUESTION 15A & 15B | REVIEW OF CEO, TOP MGMT OFFICIAL, AND KEY EMPLOYEES COMPENSATION 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 2014. |
| FORM 990, PART VI, QUESTION 19 | PUBLIC DISCLOSURE 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. |
| FORM 990, PART XI, LINE 9 | OTHER CHANGES IN NET ASSETS OR FUND BALANCES FAS 158 MINIMUM PENSION LIABILITY ADJUSTMENT $ -1,647,622 |
| FORM 990, PART XI | CHANGES TO DEFINED BENEFIT PLAN 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 AN INCREASE IN THE PROJECTED BENEFIT OBLIGATION. |
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