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 VI, SECTION A, LINE 6 | THE MINNESOTA CHAMBER OF COMMERCE IS A MEMBERSHIP ORGANIZATION SERVING 2400 MEMBERS. MEMBERS ARE MAINLY BUSINESSES IN MINNESOTA. |
| FORM 990, PART VI, SECTION B, LINE 11 | THE BOARD OF DIRECTORS HAS ASSIGNED THE 990 REVIEW PROCESS TO THE MINNESOTA CHAMBER FINANCE COMMITTEE, WHICH REVIEWS THE 990 AND SUPPORTING SCHEDULES PRIOR TO FILING OF THE RETURN. |
| FORM 990, PART VI, SECTION B, LINE 12C | ANNUALLY A CONFLICT OF INTEREST STATEMENT IS COLLECTED FROM ALL BOARD DIRECTORS AND STAFF MEMBERS. THE FINANCE COMMITTEE ANNUALLY REVIEWS THE CONFLICT OF INTEREST STATEMENTS AND DETERMINES IF THERE IS A CONFLICT AND IF ANY ACTION NEEDS TO BE TAKEN. ANY INDEPENDENCE ISSUES ARE REPORTED TO THE BOARD. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE BENEFITS AND COMPENSATION PACKAGES FOR PAID OFFICERS OF THE ORGANIZATION ARE OVERSEEN AND DIRECTED BY OUR COMPENSATION COMMITTEE. THIS COMMITTEE IS COMPRISED OF OUR VOLUNTEER OFFICERS OF THE BOARD OF DIRECTORS WHICH INCLUDE THE CHAIR, VICE CHAIR, SECRETARY/TREASURER AND THE IMMEDIATE TWO PAST CHAIRS. A SALARY AND BENEFIT SURVEY HAS BEEN CONDUCTED TO MEASURE THE EXECUTIVE COMPENSATION PACKAGE OF OUR PAID OFFICERS IN COMPARISON TO LOCAL AND NATIONAL ORGANIZATIONS OF SIMILAR SIZE. THIS SURVEY WAS INITIALLY CONDUCTED BY RSM MCGLADREY IN 2006, WITH A FOLLOW-UP SURVEY BY RSM IN 2010 TO AGAIN BENCHMARK THE SALARY AND BENEFITS OF OUR PAID OFFICERS. IN SUBSEQUENT YEARS, THIS SURVEY HAS BEEN USED AS WELL AS OTHER NON-FORMAL MEASUREMENTS. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. |
| FORM 990, PART XI, LINE 9: | EQUITY IN EARNINGS OF SUBSIDIARY, MN CHAMBER BUSINESS SERVICES 25,762. EQUITY IN EARNINGS OF SUBSIDIARY,PRO-JOBS MAJORITY LLC 248,338. |
| FORM 990, PART XI, LINE 2C | THE ORGANIZATION HAS NOT CHANGED ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE YEAR. |
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