Illinois Fertilizer & Chemical Association

“The organization has classes of members with approximately 962 members for the year ending on march 31, 2025.”

“Members have the authority to elect or appoint members of the governing body.”

“Various governance decisions of the organization are subject to approval by the members.”

“Form 990 will be sent by email to the executive committee, then the board for review.”

“In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of committees with governing board delegated powers considering the proposed transaction or arrangement. An interested person may make a presentation at the governing board or committee meeting, but after the presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. The chairperson of the governing board or committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the governing board or committee shall determine whether the organization can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the governing board or committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the organization's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination, it shall make its decision as to whether to enter into the transaction or arrangement. The organization requires each board member to sign a statement affirming receipt and understanding of the policy and agreement to comply with the policy. The organization also periodically reviews whether partnerships, joint ventures, and arrangements with management organizations conform to the organization's written policies without providing inurement, impermissible private benefit, or excess benefit transactions.”

“The executive committee conducts an annual performance and salary review for the president. The board of directors serves on a volunteer basis and therefore receives no compensation.”

“Governing documents, conflict of interest policy, and financial statements are available upon request.”

“The process for overseeing the audit and selecting an independent auditor has not changed from the prior year.”