The Chicago Network Inc

“Article i, section 2 the network's purpose changed to: the network is organized and at all times shall be operated exclusively for charitable and educational purposes, or such other purposes as may be provided in section 501 (c)(3) of the irs. Article iv, section 2 the number of directors shall not be less than 18 whereas in the past the number of directors consisted of 21. Article v, section 5 now included in the bylaws, the secretary-treasurer shall serve as chair of the audit and finance committee.”

“Full members of the network shall, at the time of their election, be women professionally based in the chicago metropolitan area who shall have attained a high level of achievement and shall have been found acceptable as members of the network by the membership committee and recommended for membership to the board of directors in accordance with the criteria determined by the board of directors. Full members shall have the right to vote on the election of directors, and on such other matters as may be submitted to a member vote in the discretion of the board of directors. A full member may become a non-resident member by paying annual dues at the non-resident member rate. The member must reside outside the chicago metropolitan area for the majority of the year. Non-resident members do not have the power to vote. A full member belonging to the network for less than one year and is no longer active in the position held when admitted as a full member, may become an emerita member by paying annual dues at the emerita member rate. Emerita members do not have the power to vote. A full, non-resident or emerita member may become a life member if her tenure as a member of the network, when added to her age, is at least 100. Life members do not pay dues and do not vote.”

“The membership of the organization elects officers and directors at the annual meeting.”

“The finance and audit committee, pursuant to its charter, reviews the form 990 prior to its distribution to the board.”

“The board would be apprised to any potential conflicts as they arise. An annual disclosure statement is required to be signed.”

“The board chair conducts a survey of compensation of ceos of similarly situated organizations. Compensation is determined based upon the ceo review and the comparables survey, is set by the chair and approved by the executive committee.”

“Governing documents, conflict of interest policy and financial statements are available to the public at tcn's office.”

“Public relations: program service expenses 17,500. Management and general expenses 8,750. Fundraising expenses 0. Total expenses 26,250. Management/admin consulting: program service expenses 25,125. Management and general expenses 19,875. Fundraising expenses 0. Total expenses 45,000. Temporary office assistance: program service expenses 2,235. Management and general expenses 54,394. Fundraising expenses 0. Total expenses 56,629.”