Ohio Business Roundtable

“At its annual membership meeting october 17, 2019, the organization made changes to its code of regulations. The changes include removing the 100 member cap and adding some flexibility for company size and non-profit status. The code also removes the intent to only focus on one issue at a time, allowing more flexibility in pursuing multiple policies at once. The code describes structure and membership of the executive committee putting into place one year terms, with the executive committee being elected for the coming year at each annual meeting. The code defines meeting practices to have at least one full meeting of the trustees each year and a quorum will be considered those to be present.”

“The corporation shall have members, each of which shall be elected to membership by the trustees upon recommendation of the president. To be eligible for membership in the corporation a business organization must be an ohio enterprise. A member shall continue as such until such member withdraws by written notice to the president or until such member is terminated by action of the trustees. The term "ohio enterprise" shall mean either an ohio-based business organization whether profit or nonprofit, which has annual revenues of at least one hundred million dollars ($100,000,000) or at least one thousand (1,000) employees in ohio, or a business organization (whether for profit or nonprofit and whether or not based in ohio) which has influence in ohio equivalent to an organization having such sales and employees or a business organization whether profit or nonprofoit, recommended by the president and approved by the trustees. Any decision by the president with respect to qualification of a business organization as an ohio enterprise shall be final, but each business organization which is a member as of october 17, 2019 shall be conclusively deemed to have qualified as an ohio enterprise as of that date.”

“Class a members with voting rights are asked to elect officers.”

“The executive committee shall have the power and authority to elect and terminate or remove trustees and members of the corporation and to appoint members of, and to fill vacancies in, standing and ad hoc committees of the corporation, including, without limitation, the executive committee. The executive committee shall also be responsible for screening, prioritizing and determining those issues which should be addressed by the corporation, creating and disbanding tasks forces to deal with those issues, and appointing/removing members and chairmen of the task forces, each of which chairmen shall have the power to appoint and remove additional members of his or her task force. The chairman of the corporation shall be the chairman of the executive committee.”

“The 990 return was reviewed by the executive committee prior to its filing with the internal revenue service. The executive committee is the governing body of the organization, per the code of regulations.”

“A conflict of interest policy was sent to each member of the corporation. They were asked to send a signed declaration of interest form back to the corporation stating that they read, understood and agreed to follow the policy. If a conflict arises, the president and chairman will review the situation. Legal counsel will be solicited in any case where the small group is unable to make a determination. Once a determination has been made, the proper course of action will be taken.”

“The chairman conducts a performance evaluation of the president of the corporation. Bonus and/or compensation adjustments are recommended by the chairman and approved by the members of the executive committee before being awarded. Compensation is based upon industry standard salary levels and an annual survey conducted among similar organizations across the country. All compensation change information is documented and in the corporation's files.”

“All governing documents, tax returns, finacial statements and conflict of interest policies are available for public inspection at any time.”

“The organization's policy is to prepare its financial statements on a modified cash basis that includes recording of depreciation and amortization on long-lived assets, liabilities for the acquisition of long-lived assets, payroll withholdings and accruals of payroll taxes, and income taxes payable. Under this basis, revenue is generally recognized when paid rather than when the related liability is incurred. Consequently, accounts receivable, accounts payable, and accrued expenses, other than those mentioned above, are not included in the financial statements. If an expenditure results in the acquisition of an asset having an estimated useful life which extends substantially beyond the year of acqusition, the expenditure is capitalized and depreciated or amortized over the estimated usedful life of the asset.”

“The process has not changed from the prior year.”