Altoona-Blair County Development Corp

“Abcd corp. Is a membership organization consisting of two classes: voting or active, and nonvoting or advisory. An active member is a voting member of the board of directors.”

“Abcd corp.'s board of directors consists of all voting members of the organization. Abcd corp.'s nominating/bylaws committee is responsible for the recruitment of qualified individuals to serve on abcd corp.'s board. Nominations for board members are presented to the full board for their consideration. The full board then conducts a formal election vote to choose board members for the organization.”

“The governing body is the board of directors. As such, all decisions of the governing body are approved by the voting members (i.e. The board of directors) of the organization.”

“Copies of the 990 are given to each member of the audit committee. The audit committee reviews and adopts the 990. The 990 is then sent to the admin & finance committee who will then review and adopt the 990. The 990 is then given to the executive committee who will then review and recommend the 990 be approved by the board of directors. The 990 is then reviewed and adopted by the board of directors authorizing the president/ceo to sign and file the 990.”

“Annually, abcd corp. Requires all board members to complete and sign its established "conflict of interest" policy. The signed documents are kept on file at abcd corp.'s offices per terms of abcd corp.'s document retention and destruction policy.”

“Abcd corp.'s compensation policy is established using the following parameters: (1) meetings with a private personal/human resource consulting firm with staff members specializing in employee compensation and benefits, (2) a review of available industry surveys for economic development organizations on the federal and state level, (3) information provided from members of abcd corp.'s administration and finance committee (including data obtained from the wage and benefit analysis they have completed for their individual organizations). The compensation policy abcd corp. Follows for its ceo is used to establish compensation guidelines for all of abcd corp.s employees; regardless of the their position within the organization.”

“Altoona-blair county development corporation makes its conflict of interest policy and financial statements available to the public upon request.”