Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
| Return Reference | Explanation |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 3 | ON JANUARY 1, 2017, GREATER MADISON CHAMBER OF COMMERCE, INC. BEGAN LEASING ITS EMPLOYEES, INCLUDING ITS PRESIDENT, FROM QTI MANAGEMENT SERVICES, INC. THE PRESIDENT PERFORMS MANAGEMENT DUTIES SUCH AS SUPERVISING PERSONNEL, PLANNING AND EXECUTING BUDGETS AND FINANCIAL OPERATIONS, AND SUPERVISING EXEMPT OPERATIONS. DURING 2018 THE PRESIDENT RECEIVED $198,817 OF REPORTABLE COMPENSATION AND $22,365 OF OTHER COMPENSATION FROM QTI MANAGEMENT SERVICES, INC. |
| FORM 990, PART VI, SECTION A, LINE 6 | THE ORGANIZATION HAS A SINGLE CLASS OF MEMBERSHIP. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE ORGANIZATION'S MEMBERSHIP HAS THE RIGHT TO ELECT AND APPOINT THE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE PREPARED FORM 990 IS REVIEWED BY THE MANAGING DIRECTOR OF FINANCE, DIRECTOR OF OPERATIONS, THE PRESIDENT, AND THE TREASURER, AND AVAILABLE FOR REVIEW BY THE EXECUTIVE COMMITTEE BEFORE THE RETURN IS FILED WITH THE IRS. |
| FORM 990, PART VI, SECTION B, LINE 12C | ALL OFFICERS AND DIRECTORS ARE EMPLOYEES OF MEMBER ORGANIZATIONS. ALTHOUGH INTERESTS ARE NOT FORMALLY DISCLOSED, THEY ARE VERY CLEAR DUE TO THE NATURE OF THE GOVERNING BODY. THE LIST OF MEMBERS IS PROACTIVELY MANAGED AND REVIEWED ON A REGULAR BASIS WITH ANY POTENTIAL CONFLICTS DISCUSSED PRIOR TO THE OFFICER OR DIRECTOR BECOMING INVOLVED IN THE POTENTIAL CONFLICT. |
| FORM 990, PART VI, SECTION B, LINE 15A | THE EXECUTIVE COMMITTEE OF THE GOVERNING BODY DETERMINES THE PRESIDENT'S COMPENSATION ANNUALLY. AN EXTERNAL HUMAN RESOURCES FIRM PROVIDES COMPARABLE DATA AND THE CHAIR INFORMS THE DIRECTOR OF OPERATIONS. THE PRESIDENT HAS THE DISCRETION TO DETERMINE ALL OTHER EMPLOYEE COMPENSATION. AN EXTERNAL HUMAN RESOURCES FIRM PROVIDES COMPARABLE DATA FOR THESE POSITIONS EVERY THREE YEARS. IN ADDITION, THE EXECUTIVE COMMITTEE AND THE GOVERNING BODY APPROVE THE ANNUAL BUDGET WHICH INCLUDES TOTAL COMPENSATION. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MADE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. |
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