Coin Laundry Association

“Cla updated its bylaws during the tax year. Most significant changes are: cla changed from two classes of memberships to one class of membership; no director can be elected to the board of directors for more than two consecutive 3-year terms to three consecutive 2-year terms; the term served by elected officers of cla was changed from 1 year to 2 years; for the treasurer-elect, the board of directors will nominate and elect every calendar year to every other year; the treasurer may serve one term and subsequently run for chair-elect or treasurer serve two consecutive terms in the event they do not plan to run for chair-elect; the rotation of board officers' positions as follows: immediate past chair will depart, the chair moves to the immediate past chair position and the chair-elect moves into the chair role.”

“One class of membership: a. Active membership shall be open to any individual, partnership, corporation or other entity engaged in or having interest in owning one or more of the following businesses: 1)manufacturing self-service laundry equipment; 2)selling, as a distributor, such equipment or supplies for such equipment; 3)owning and operating a self-service laundry establishment, or a combination of the three and 4)conducting other business or professional activities related to the self-service laundry industry. Active members shall have the right to vote and hold office.”

“All members of the governing body are elected by the members.”

“The president/ceo reviews the 990 prior to signing the returns.”

“Any possible conflict of interests on the part of any board member should be disclosed to the other board members and made a matter of record, either through an annual procedure or when the interest becomes a matter of board action.”

“Determining compensation for the president/ceo begins with the board of directors appointing a compensation committee. Then, custom compensation surveys are ordered from both asae and the association forum of chicagoland. The surveys are used to benchmark appropriate compensation for cla's president/ceo based on staff size, budget, and scope of responsibilities. After a mutually agreeable framework for an employment contract is reached with the president/ceo, the compensation committee presents its recommendation to the cla board of directors for approval. Compensation for cla's key employees other than the president/ceo is responsibility of the president/ceo who again uses the results of compensation surveys to benchmark compensation for those positions.”

“UPON REQUEST.”