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 | GBC board members are presidents and CEOs of local businesses in the Baltimore community, relationships are inevitable due to the businesses operating in the same community. |
| Form 990, Part VI, Section A, line 6 | The organization has one governing body, the Board of Directors, who is responsible for the governance of the organization. The Board of Directors represent the members of the organization. Nominated board members are presented for member approval at GBC's annual meeting. Once approved, the individuals who sit on the board's sole right is to participate in the organization's governance. |
| Form 990, Part VI, Section A, line 7a | Yes, the organization has members who may elect one or more members of the governing body. A slate of nominated board members are presented for member approval at GBC's annual meeting in May. |
| Form 990, Part VI, Section A, line 8b | Executive committee does not have any authority. |
| Form 990, Part VI, Section B, line 11b | A copy of the form 990 is provided to all board members with opportunity to comment. After appropriate amount of time, the board files with the IRS. |
| Form 990, Part VI, Section B, line 12c | The policy is reviewed and monitored by the President or Executive Assistant and the Executive Committee will determine any restrictions. |
| Form 990, Part VI, Section B, line 15 | For the President: The annual review, which is received from the Executive Committee, determines salary and bonus. For all other employees: compensation is set by the President. |
| Form 990, Part VI, Section C, line 19 | The Organization's conflict of interest policy, governing documents and financial statements are available upon request. |
| Form 990, Part XI, Line 2c: | The organization has a committee that assumes responsibility for oversight of the audit of the financial statements and selection of an independent accountant. Both processes have not changed since prior year. |
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