Illinois Chamber of Commerce

“The illinois chamber board of directors has 71 board members. Each has a vote on all matters to come before the board.”

“The governing body is elected by members of the governing board as identified and nominated to board membership through protocols that involve staff and board members in the identification of new board members. Criteria for selection of new board candidates include geographic location of business, type of business/industry, and talents needed on the board to advance the institutional mission.”

“Prior to filing the completed form 990, the audit committee reviews the return and then provides a copy to each member of the board of directors. Upon receipt, each board member is provided seven business days to raise questions, make comments, or indicate satisfaction with the filing. Those communications are sent to the chairman of the board and chamber chief operating officer. Those communications are then shared with the executive committee for review and discussion during a regular meeting of the executive committee. The executive committee will then amend or approve the filing under the board's delegated authority.”

“Any contract or other agreement that would provide financial gain to any member of the board is presented to the board for approval. At the time the contract or agreement is introduced, any involvement or potential financial gain to be made by board members is identified openly. The board then acts according to the bylaws in determining the extent of the conflict and how such contract or agreement should be approved according to the bylaws.”

“The salary of the president and chief executive officer is set each year by the board of directors. The salaries paid to every employee are also reviewed at that same time. This committee is charged with the preparation of and oversight of the institution's strategic plan; it also oversees the conduct of the annual performance review of the president/ceo.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Other professional fees 15,588. Executive search -22,666. Contract staffing 400,083.”

“There were no changes to the audit selection process from the prior year.”