New Jersey State Chamber of Commerce

“The organization's members consist of new jersey based organizations. Member organizations are required to pay annual membership dues.”

“Each member is entitled to one vote at annual and special meetings of members of the chamber either in person or by proxy. At each annual meeting one-third of the board is elected to serve for three years.”

“The form 990 is provided to the executive committee for review and approval prior to filing. The form 990 is also made available to the general populus of the board, prior to filing.”

“Contracts for services require an rfp, which surfaces any conflicts. Notification annually of our conflict of interest policy is adequate from the standpoint of board participation in contracts.”

“The process for determining compensation of the organization's president and key employees includes: review by the president (including a self-evaluation), a compensation committee meeting with the president, the president taking the recommendations to the executive committee for discussion and decision. Total compensation solutions, llc (an independent compensation consultant) is engaged every three years for the ceo, and three-five years for all other executives to provide a comparative compensation range for highly compensated employees. A written summary of compensation decisions is signed by the chairman of the board and forwarded to the vp of finance before any payroll adjustments are made or bonus checks issued.”

“The organization's documents are made available to the public upon request.”

“Donna custard and sandra glover-strothers are employed by the new jersey state chamber of commerce however donna is the president of a related organization, new jersey chamber of commerce foundation, inc, and sandra is the exeuctive director of a program (jag nj) run by the new jersey chamber of commerce foundation, inc. New jersey chamber of commerce foundation, inc. Reimburses the taxpayer for salaries and related expenses. Donna and sandra's compensation approval process follows the taxpayer's process as disclosed previously in schedule o. However, donna and sandra's final salaries are based on the availability of funding for the new jersey chamber of commerce foundation, inc.”

“The audit committee of the board of directors selects the independent auditor and meets with the independent auditor to review the results of the audit on an annual basis. The process has not changed from the previous year.”