Chalmers Center for Economic Development

“The eleven directors of the Board of Directors of The Chalmers Center is derived from three separate pools. Six directors (Class A) are appointed by a majority vote of the Board. Three directors (Class B) are appointed by the Executive Committee of the Covenant College Board upon nomination by the Covenant College's President and Senior Leadership Team after consulting with the Chalmers Center Chief Executive Officer and its Senior Leadership Team in accordance with the Bylaws. In practice, Class B Directors nominations have been initiated by the Chief Executive Officer and Senior Leadership Team of The Chalmers Center for submission to the Executive Committee of the Covenant College Board. Two Ex Officio Directors (Class C) include the President and the Chief Academic Officer of Covenant College.”

“The organization has no committees with authority to act on behalf of the governing body. Therefore, this line was answered no in accordance with the instructions.”

“The Form 990 is prepared by an independent CPA firm and reviewed in detail by the organization's top management. The reviewed Form 990 is then provided to the board of directors prior to filing with the IRS.”

“The organization has a detailed written conflict of interest policy. Both Board members and employees are required to disclose conflicts and sign a disclosure statement annually. The Board Chair and the Vice President of Operations review the annually signed statements. Should any potential conflicts of interest be disclosed, the Board member or officer would be asked to refrain from participation in any deliberation or decision with regard to matters affected by the relationship.”

“Compensation for the Chief Executive Officer was determined by obtaining comparable external salary data from similar-sized non-profits in the region and through use of a compensation survey. Compensation amounts were approved by the independent Board and documented in the Board minutes.”

“Compensation for officers and key employees included review and approval by the independent Board, comparability data, and contemporaneous substantiation of the deliberation and decision.”

“Governing documents, conflict of interest policy, and financial statements are available to the public upon request. The audited financial statements are also made available on the organization's website.”

“Miscellaneous Program Income - Total Revenue: 98, Related or Exempt Function Revenue: 98, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ;”

“Outside Contract Services - Total Expense: 111329, Program Service Expense: 87909, Management and General Expenses: 21920, Fundraising Expenses: 1500; Honorarium - Total Expense: 3850, Program Service Expense: 3600, Management and General Expenses: , Fundraising Expenses: 250; Consulting/Short Term Temp - Total Expense: 343497, Program Service Expense: 264816, Management and General Expenses: 61312, Fundraising Expenses: 17369;”