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 2 | LINE 2 EXPLANATION - ONE BOARD MEMBER IS THE SON OF THE EXECUTIVE DIRECTOR. |
| FORM 990, PART VI, SECTION A, LINE 4 | ORGANIZATION BYLAWS WERE REVISED JUNE 7, 2019. THE ORGANIZATION HAS EXPANDED ITS CLASS OF MEMBERS TO THREE IN ORDER TO ENCOURAGE EMPLOYEES TO SERVE ON THE BOARD OF DIRECTORS. THE COMPOSITION OF THE BOARD HAS BEEN ALTERED INTO TWO SEPARATE SECTIONS WHO SERVE THREE YEAR TERMS WITH A ONE YEAR COOL-OFF PERIOD BETWEEN TERMS. THE BOARD IS NOW RESPONSIBLE FOR BOTH NOMINATING AND ELECTING DIRECTORS. THE BYLAWS WERE UPDATED TO ALLOW BOARD MEMBERS TO REMOVE OFFICERS AND DIRECTORS THROUGH IMPEACHMENT VOTES. THE BOARD IS NOW ABLE TO DELEGATE THE DUTIES OF THE TREASURER TO THE EXECUTIVE DIRECTOR. THE FIVE COMMITTEES' ROLES WERE EXPANDED UPON, THE BIGGEST CHANGES ARE THAT NOW ONLY THE FINANCE COMMITTEE DRAFTS THE BUDGET AND CONDUCTS INTERNAL AUDITS. FINALLY THE CONFLICT OF INTEREST STATEMENT WAS REWRITTEN TO BROADEN ITS SCOPE. |
| FORM 990, PART VI, SECTION A, LINE 7B | LINE 7B EXPLANATION - ALL SIGNIFICANT DECISIONS MADE BY THE GOVERNING BODY ARE VOTED ON BY THE BOARD OF DIRECTORS OR UNDER THEIR DIRECTION, THE EXECUTIVE BOARD. |
| FORM 990, PART VI, SECTION B, LINE 10B | LINE 10B EXPLANATION - ALL SIGNIFICANT ACTIVITIES OF THE OCONOMOWOC YOUNG PROFESSIONALS GROUP, ELEVATE OCONOMOWOC, ARE OVERSEEN BY THE BOARD OF DIRECTORS. |
| FORM 990, PART VI, SECTION B, LINE 11B | LINE 11B EXPLANATION - FORM 990 IS NOT SUBMITTED TO THE GOVERNING BODY. AS A REPRESENTATIVE OF THE BOARD, THE PRESIDENT REVIEWS AND SIGNS FORM 990. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE CONFLICT OF INTEREST POLICY WAS COMPLETELY REWRITTEN IN 2019. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS. IF THE BOARD OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE MEMBER AND PROVIDE OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF THE BOARD OR COMMITTEE DETERMINES THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. ALL DIRECTORS, OFFICERS AND COMMITTEE MEMBERS EXECUTE AN ANNUAL ACKNOWLEDGMENT OF THE POLICY. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE EXECUTIVE COMMITTEE HIRES AND REVIEWS THE EXECUTIVE DIRECTOR. WITH BOARD APPROVAL, THE EXECUTIVE DIRECTOR HIRES AND REVIEWS THE ADMINISTRATIVE COORDINATOR. THE EXECUTIVE COMMITTEE IS RESPONSIBLE FOR ESTABLISHING COMPENSATION AND BENEFITS FOR EMPLOYEES. |
| FORM 990, PART VI, SECTION C, LINE 19 | PUBLIC DOCUMENTS ARE AVAILABLE ON REQUEST. |
| FORM 990, PART VII CONTACT ADDRESSES FOR OFFICERS, DIRECTORS, ETC | CHERYL SONSALLA - OCONOMOWOC CHAMBER OF COMMERCE, OCONOMOWOC, WI 53066. |
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