Rockford Area Economic Development Council Inc

“The executive committee shall exercise the authority of the board of directors between meetings of the board but only to the extent necessary to take action on unanticipated business that requires action between board meetings and action taken is not contrary to the instructions of the board of directors. The executive committee shall have such other duties as are prescribed for the executive committee int he bylaws or byt the board of directors. The executive committee shall review the performance and set the compensation for the president, and report its action at the next meeting of the board.”

“The organization is comprised of investors/stockholders”

“The investors/stockholders are able to review the candidates for the board and vote on the selection as each board member term comes to a close”

“Each year, the investors/stockholders are able to vote on how a portion of the general budget is spent to fund raedc programs”

“No review was or will be conducted.”

“Conflict of interest policies are completed by the board of directors and staff when their respective term begins. Conflicts are noted on said form and board of directors abstain from voting on any issue in which conflict may occur.”

“The president's annual compensation plan including base salary and any bonus payment are reviewed and approved by the executive committee.”

“The president recommends all officer salary and bonus adjustments using comparable salaries and national peers published by national economic development organiztions such as iedc, cost of living statistics, and extraordinary performance. Those recommendations are then reviewed and approved by the executive committee. All non-officer staff compensation changes are recommended by the president and reviewed and approved by the chairman of the board.”

“Rockford area economic development council has made its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“The primary role of the rockford area economic development council is to enhance wealth creation in the rockford region by marketing the area and helping employers retain and create quality jobs. The raedc works closely with many partners to serve as a one-stop resource for clients to improve the competitiveness of the region and to engage the community in the work of economic development.”