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 6 | THE ILLINOIS CHAMBER BOARD OF DIRECTORS HAS 74 BOARD MEMBERS. EACH HAS A VOTE ON ALL MATTERS TO COME BEFORE THE BOARD. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE GOVERNING BODY IS ELECTED BY MEMBERS OF THE GOVERNING BOARD AS IDENTIFIED AND NOMINATED TO BOARD MEMBERSHIP THROUGH PROTOCOLS THAT INVOLVE STAFF AND BOARD MEMBERS IN THE IDENTIFICATION OF NEW BOARD MEMBERS. CRITERIA FOR SELECTION OF NEW BOARD CANDIDATES INCLUDE GEOGRAPHIC LOCATION OF BUSINESS, TYPE OF BUSINESS/INDUSTRY, AND TALENTS NEEDED ON THE BOARD TO ADVANCE THE INSTITUTIONAL MISSION. |
| FORM 990, PART VI, SECTION B, LINE 11B | PRIOR TO FILING THE COMPLETED FORM 990, THE AUDIT COMMITTEE REVIEWS THE RETURN AND THEN PROVIDES A COPY TO EACH MEMBER OF THE BOARD OF DIRECTORS. UPON RECEIPT, EACH BOARD MEMBER IS PROVIDED SEVEN BUSINESS DAYS TO RAISE QUESTIONS, MAKE COMMENTS OR INDICATE SATISFACTION WITH THE FILING. THOSE COMMUNICATIONS ARE SENT TO THE CHAIRMAN OF THE BOARD AND CHAMBER CHIEF OPERATING OFFICER. THOSE COMMUNICATIONS ARE THEN SHARED WITH THE EXECUTIVE COMMITTEE FOR REVIEW AND DISCUSSION DURING A REGULAR MEETING OF THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE WILL THEN AMEND OR APPROVE THE FILING UNDER THE BOARD'S DELEGATED AUTHORITY. |
| FORM 990, PART VI, SECTION B, LINE 12C | ANY CONTRACT OR OTHER AGREEMENT THAT WOULD PROVIDE FINANCIAL GAIN TO ANY MEMBER OF THE BOARD IS PRESENTED TO THE BOARD FOR APPROVAL. AT THE TIME THE CONTRACT OR AGREEMENT IS INTRODUCED, ANY INVOLVEMENT OR POTENTIAL FINANCIAL GAIN TO BE MADE BY BOARD MEMBERS IS IDENTIFIED OPENLY. THE BOARD THEN ACTS ACCORDING TO THE BYLAWS IN DETERMINING THE EXTENT OF THE CONFLICT AND HOW SUCH CONTRACT OR AGREEMENT SHOULD BE APPROVED ACCORDING TO THE BYLAWS. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE SALARY OF THE PRESIDENT AND CHIEF EXECUTIVE OFFICER IS SET EACH YEAR BY THE BOARD OF DIRECTORS. THE SALARIES PAID TO EVERY EMPLOYEE ARE ALSO REVIEWED AT THAT SAME TIME. THE REVIEW IS CONDUCTED WITH THE PROVISION OF A REPORT ON ALL STAFF SALARIES AND THE SALARY HISTORY OF EACH EMPLOYEE FOR THE PREVIOUS NINE YEARS TO THE CHAIR OF THE STRATEGIC PLANNING AND ORGANIZATIONAL DEVELOPMENT COMMITTEE. THIS COMMITTEE IS CHARGED NOT ONLY WITH THE PREPARATION AND OVERSIGHT OF THE INSTITUTIONS STRATEGIC PLAN, IT ALSO OVERSEES THE CONDUCT OF THE ANNUAL PERFORMANCE REVIEW OF THE PRESIDENT/CEO AND THE SALARIES PAID TO ALL EMPLOYEES. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. |
| FORM 990, PART XI, LINE 9: | CHANGE IN CBM INCOME (LOSS) 2,153. |
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