Montana Chamber Foundation

“The foundation delegated management duties to the montana chamber of commerce. The chamber of commerce provides use of basic office space and equipment, routine bookkeeping functions, preparation and maintenance of minutes, tracking actual shared costs, and coordinating the montana chamber governors' cup golf tournament and economic education summits. The organization's executive director, todd o'hair, is an employee of the montana chamber of commerce. Compensation for services provided to the foundation include the following: salary - $182,000 employer contribution to retirement - $12,740 employer contribution to medical and dental - $7,731”

“Form 990 is reviewed by the president before filing.”

“The board reminds all members of the conflict of interest policy at the beginning of their meetings and will have sessions on this at their annual meeting. The board members are asked to sign conflict letters, and the president will do a follow-up with any questions. 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 to the directors and members of the committees with governing board delegated powers considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the governing board or committee meeting while determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. An interested person may make a presentation at the governing board or committee meeting, but after the presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transaction, or arrangement involving the possible conflict of interest. The chairperson of the governing board or committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the governing board or committee shall determine whether the organization can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the governing board or committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the organization's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination, it shall make its decision as to whether to enter into the transaction or arrangement.”

“All financial information, governing documents and policies are available upon request.”

“Cultivating careers - the montana chamber foundation and park high school are hosting this proven community focused workforce development event that illustrates how industry and education partners can support career awareness and workforce pipeline opportunities. These hands-on experiences demonstrate the latest careers in pathways across the spectrum helping to prepare students for the 21st century.”

“Personnel: program service expenses 11,071. Management and general expenses 205,065. Fundraising expenses 50,095. Total expenses 266,231. Professional services: program service expenses 3,420. Management and general expenses 0. Fundraising expenses 2,490. Total expenses 5,910.”

“There has been no change to the oversight process or selection process during the year.”