Connecticut Business and Industry Association Inc

“Article vi, section 1 of the by-laws provide that there shall be an executive committee of the board of directors consisting of the chair, both vice chairs, the president and ceo, the immediate past chair, and eight additional members of the board of directors appointed by the board of directors. During the intervals between the meetings of the board of directors and subject to such limitations as may be prescribed by the board of directors, the executive committee shall have and may exercise all the powers and authority of the board of directors to the maximum extent permitted by law, except that the executive committee shall not have the power to amend the bylaws.”

“CBIA IS A BUSINESS MEMBERSHIP ORGANIZATION WITH APPROXIMATELY 3,000 MEMBERS. There are two classes of Members: Active Members and Associate Members. Active membership shall be limited to sole proprietorships, partnerships, corporations, and other entities engaged in any business within the State of Connecticut. Each active member in good standing shall be entitled to one vote for the election of directors and on all other matters which come before the members for action. For purposes of the Form 990, the active members are the members of the organization. Associate membership shall be limited to nonprofit associations and institutions, chambers of commerce, and such other entities or persons as are approved by the board of directors. Associate members shall have no right to vote for the election of directors or any other matters of any nature whatsoever which may come before CBIA.”

“CBIA's board of directors is elected by active members of the corporation in good standing.”

“Officers of CBIA reviewed the Form 990 in December 2025, prior to filing. The officers reported the results of their review to the CBIA board of directors. The Form 990 is made available to other board members upon request.”

“All CBIA directors and non-employee officers complete a conflict of interest statement annually. CBIA's president and assistant secretary review the completed forms and work with the board to resolve any conflicts. CBIA's conflict of interest statement for employees is part of the employee handbook, which all employees must acknowledge.”

“The compensation committee establishes the compensation for CBIA's President. The committee reviews salary surveys and data provided by an independent compensation consultant to establish appropriate compensation. The committee follows a documented compensation philosophy. The committee also administers the variable pay plan by reviewing objectives and benchmarks at the beginning of each fiscal year and evaluating performance and approving awards at the end of each fiscal year.”

“The compensation committee establishes the compensation for CBIA's senior vice presidents. The committee reviews salary surveys and data provided by an independent compensation consultant to establish appropriate compensation plans for these employees. The committee follows a documented compensation philosophy. The committee also administers the variable pay plans for these employees by reviewing objectives and benchmarks at the beginning of each fiscal year and evaluating performance and approving awards at the end of each fiscal year.”

“CBIA's governing documents are filed with the Connecticut Secretary of State and are a matter of public record. CBIA's conflict of interest policy and financial statements are available to members upon request.”

“Pension-related changes other than periodic pension costs - 467497; Equity in loss of subsidiary - -2032827; Total - -1565330;”