Upper Midwest Booksellers Association

“Members are independent bookstores and companies within the publishing industry.”

“Every member of the Association is eligible to vote for directors on the ballot to join the board.”

“Changes or additions to the board or substantive changes to the bylaws are subject to approval by the members.”

“The Associations governing body is provided with a copy of form 990 prior to it being filed. The board of directors reviews the form 990 at its next regular board meeting including discussion of the financial and explanatory sections of the form. The Executive Director will discuss with the preparer any questions, additions or recommended changes. If changes are made, a revised copy is provided to the board of directors for final review and approval prior to filing of the form.”

“The Associations governing body is responsible for the review and approval of the compensation of the Executive Director and Director of Operations. The Board analyzes past compensation history, comparable industry standards, performance of duties and achievement of goals when determining the compensation. The discussion and final decision documented in the minutes of the Board of Directors meeting when the review is completed.”

“Policies are available electronically and also in the board books where all recorded board meeting documents are retained. Internally generated financial statements are reviewed and approved by the Board of Directors. All information is available by contacting the Executive Director.”

“Prior Period Adjustment Obsolete inventory was written off as of 12/31/2023 after filing the 990, the reduction in inventory was 4,534, and this was reported as a prior period adjustment.”