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TIN:
SCHEDULE O
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ
Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
Attach to Form 990 or 990-EZ.
Information about Schedule O (Form 990 or 990-EZ) and its instructions is atwww.irs.gov/form990.
OMB No. 1545-0047
2015
Open to Public
Inspection
Inspection
Name of the organization
ROCKFORD AREA ECONOMIC DEVELOPMENT
COUNCIL INC
COUNCIL INC
Employer identification number
36-3055858
36-3055858
| Return Reference | Explanation |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 1 | THE EXECUTIVE COMMITTEE SHALL EXERCISE THE AUTHORITY OF THE BOARD OF DIRECTORS BETWEEN MEETINGS OF THE BOARD BUT ONLY TO THE EXTENT NECESSARY TO TAKE ACTION ON UNANTICIPATED BUSINESS THAT REQUIRES ACTION BETWEEN BOARD MEETINGS AND ACTION TAKEN IS NOT CONTRARY TO THE INSTRUCTIONS OF THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE SHALL HAVE SUCH OTHER DUTIES AS ARE PRESCRIBED FOR THE EXECUTIVE COMMITTEE IN THE BYLAWS OR BY THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE SHALL REVIEW THE PERFORMANCE AND SET THE COMPENSATION FOR THE PRESIDENT, AND REPORT ITS ACTION AT THE NEXT MEETING OF THE BOARD. |
| FORM 990, PART VI, SECTION A, LINE 2 | SEVERAL BOARD MEMBERS OF ROCKFORD AREA ECONOMIC DEVELOPMENT COUNCIL ALSO SERVE ON THE BOARD OF DIRECTORS OF ROCKFORD AREA STRATEGIC INITIATIVE (RASI). RASI IS A CONTROLLED ORGANIZATION THESE MEMBERS INCLUDE SJOSTROM, PATEL, ROOP, GORKSI, KOTTKE, PURI, SCHERTZ, WARD, GRONEWOLD, SAUNDERS, GAIER, PETRIE, KANEY, MORRISSEY, CHRISTANSEN, AND NICHOLAS. MEMBERS OF THE BOARD OF DIRECTORS, AS BUSINESS OWNERS AND EMPLOYEES, ALSO ENGAGE IN TRANSACTIONS WITH ROCKFORD AREA ECONOMIC DEVELOPMENT COUNCIL. HOWEVER, THESE TRANSACTIONS ARE ALL WITHIN THE NORMAL COURSE OF BUSINESS. |
| FORM 990, PART VI, SECTION A, LINE 6 | THE ORGANIZATION IS COMPRISED OF INVESTORS/STOCKHOLDERS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE INVESTORS/STOCKHOLDERS ARE ABLE TO REVIEW THE CANDIDATES FOR THE BOARD AND VOTE ON THE SELECTION AS EACH BOARD MEMBER'S TERM COMES TO A CLOSE. |
| FORM 990, PART VI, SECTION A, LINE 7B | EACH YEAR, THE INVESTORS/STOCKHOLDERS ARE ABLE TO VOTE ON HOW A PORTION OF THE GENERAL BUDGET IS SPENT TO FUND RAEDC PROGRAMS. |
| FORM 990, PART VI, SECTION B, LINE 11 | A COPY OF THE 990 IS DISTRIBUTED TO THE EXECUTIVE COMMITTEE FIRST THEN TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL. |
| FORM 990, PART VI, SECTION B, LINE 12C | CONFLICT OF INTEREST POLICIES ARE COMPLETED BY THE BOARD OF DIRECTORS AND STAFF WHEN THEIR RESPECTIVE TERM BEGINS, CONFLICTS ARE NOTED ON SAID FORM AND BOARD MEMBERS ABSTAIN FROM VOTING ON ANNY ISSUE IN WHICH CONFLICT MAY OCCUR. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE PRESIDENT'S ANNUAL COMPENSATION PLAN INCLUDING BASE SALARY AND ANY BONUS PAYMENT ARE REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE. THE PRESIDENT RECOMMENDS ALL OFFICER SALARY AND BONUS ADJUSTMENTS USING COMPARABLE SALARIES OF NATIONAL PEERS PUBLISHED BY NATIONAL ECONOMIC DEVELOPMENT ORGANIZATIONS SUCH AS IEDC, COST OF LIVING STATISTICS, AND EXTRAORDINARY PERFORMANCE. THOSE RECOMMENDATIONS ARE THEN REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE. ALL NON-OFFICER STAFF COMPENSATION CHANGES ARE RECOMMENDED BY THE PRESIDENT AND REVIEWED AND APPROVED BY THE CHAIRMAN OF THE BOARD. |
| FORM 990, PART VI, SECTION C, LINE 19 | ROCKFORD AREA ECONOMIC DEVELOPMENT COUNCIL HAS MADE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. |
| FORM 990, PART IX, LINE 11G | OUTSIDE SERVICES: PROGRAM SERVICE EXPENSES 42,861. MANAGEMENT AND GENERAL EXPENSES 45,407. FUNDRAISING EXPENSES 66,633. TOTAL EXPENSES 154,901. CONTRACTUAL SERVICES: PROGRAM SERVICE EXPENSES 28,861. MANAGEMENT AND GENERAL EXPENSES 26,167. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 55,028. |
| FORM 990, PART IX, LINE 24E | MISCELLANEOUS: PROGRAM SERVICE EXPENSES 51,609. MANAGEMENT AND GENERAL EXPENSES 2,338. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 53,947. MARKETING: PROGRAM SERVICE EXPENSES 43,678. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 43,678. BAD DEBT: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 30,000. TOTAL EXPENSES 30,000. PROFESSIONAL DEVELOPMENT: PROGRAM SERVICE EXPENSES 1,219. MANAGEMENT AND GENERAL EXPENSES 23,844. FUNDRAISING EXPENSES 1,984. TOTAL EXPENSES 27,047. TRADE SHOWS: PROGRAM SERVICE EXPENSES 20,783. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 945. TOTAL EXPENSES 21,728. TELEPHONE: PROGRAM SERVICE EXPENSES 4,198. MANAGEMENT AND GENERAL EXPENSES 11,258. FUNDRAISING EXPENSES 1,376. TOTAL EXPENSES 16,832. PRINTING: PROGRAM SERVICE EXPENSES 1,341. MANAGEMENT AND GENERAL EXPENSES 5,169. FUNDRAISING EXPENSES 6,019. TOTAL EXPENSES 12,529. REPAIRS AND MAINTENANCE: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 6,920. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 6,920. |
| FORM 990, PART XII, LINE 2C: | THE ORGANIZATION HAS AN EXECUTIVE COMMITTEE THAT APPOINTS THE INDEPENDENT AUDITOR |
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2015
Additional Data
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