Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
| Return Reference | Explanation |
|---|---|
| Form 990, Part VI, Line 6 Classes of members or stockholders | THE ORGANIZATION HAS one class of members. Any person, association, partnership, corporation, or political subdivision of the State of Colorado having an interest in the business and objectives of the Chamber shall be eligible for membership. The Board of Directors in its absolute discretion shall have the authority to accept or reject any application for any reason consistent with law. At any meeting at which a vote of the members shall be conducted, each individual member, member firm, association, or corporation in good standing shall be entitled to one vote. |
| Form 990, Part VI, Line 7a Members or stockholders electing members of governing body | Elected directors shall be elected by a plurality of vote at the annual meeting of the chamber. Class of members and the nature of their rights are the same as for Question 6. |
| Form 990, Part VI, Line 11b Review of form 990 by governing body | The CEO reviews 990 along with the finance committee chair of the board of directors two days prior to filing. |
| Form 990, Part VI, Line 12c Conflict of interest policy | Each voting member of the board, officer, and employee is required to sign a conflict of interest statement on an annual basis. Board members must disclose when a conflict of interest arises to the CEO, directors, officers, and key employees or members of committees with governing board delegated powers. They are then required to leave the meeting during the discussion of and the vote on the transaction or arrangement involving the possible conflict of interest. The remaining directors, officers, key employees or committee members will decide if a conflict of interest exists. If a conflict of interest exists, the persons with a conflict may make a presentation at the governing board, committee meeting or staff meeting. After the presentation, he or she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. Any Colorado Women's Chamber of Commerce business transaction, which involves a potential conflict of interest with a voting member of the governing board, officer, or employee, shall have terms that are at least as fair and reasonable to the Colorado Women's Chamber of Commerce as those that would otherwise be available to the Colorado Women's Chamber of Commerce if it were dealing with an unrelated party. |
| Form 990, Part VI, Line 15a Process to establish compensation of top management official | In January of each fiscal year, the CEO and board chair determine the goals of the CEO. In December of that same year, the board chair puts forth the results of these goals to the executive committee who then reports results in an executive session of the entire board and makes recommendations on salary adjustment and/or bonus. The last time this process was implemented was in January 2019 and January 2020. |
| Form 990, Part VI, Line 19 Required documents available to the public | THE FINANCIAL INFORMATION OF THE ORGANIZATION IS AVAILABLE TO THE PUBLIC UPON REQUEST. COPIES OF THE FINANCIAL STATEMENTS AND THE TAX RETURNS WILL BE PROVIDED BASED ON SPECIFIC REQUESTS MADE. |
| Software ID: | 19010655 |
| Software Version: | 2019v5.0 |