Excelsior-Lake Minnetonka Chamber

“The board of directors shall prescribe qualifications and standards for becoming a member of the chamber, along with a schedule of classification of members and dues. However, membership does not confer on a member any right to vote on any matter concerning the business or affairs of the chamber or the board of directors, even if there is a meeting of the membership.”

“The board of directors shall consist of an odd number of nine (9) or more individuals, but not more than (13), drawn from the membership of the chamber (the actual number to be determined from time to time by the board of directors) and elected by the board of directors in accordance with section 2.3 of the bylaws. A director shall serve for a fixed term specified at the time of election, which term shall not exceed two (2) years. A director may not serve more than three (3) successive terms. A director shall hold office for the term for which the director was elected and until a successor is elected and has qualified, or until the earlier death, resignation, removal or disqualification of the director. The terms of directors shall be staggered in a manner determined by the nominating committee. The executive committee or a subcommittee thereof appointed by the executive committee shall act as the nominating committee. The nominating committee shall recruit qualified candidates to serve as directors and shall solicit and consider nominations from current directors and others. Each candidate must be a member in good standing of the chamber and must have agreed to accept the responsibilities of a director. At least three (3) days before the monthly board of directors' meeting in the calendar month of october, the nomination committee shall present to the board of directors a slate of candidates to replace those directors whose terms are expiring or have been terminated.”

“The organization's treasurer reviews a draft of the form 990 and then presents a final copy to the president and executive director. Either of the mentioned positions can sign the form 990. The form 990 is on the agenda for the next regular meeting of the board of directors. The tax return is presented to and discussed by the board members.”

“The board of directors establishes reasonable compensation for the executive director via annual review. Comparable data is also taken into consideration.”

“SAME AS 15A.”

“Copies of form 990 are available through numerous internet websites. Governing documents, policies, and financial statements are available upon request. Articles of organization are on file with the minnesota secretary of state.”

“Disposal of old assets -1,959 other prior period adjustments -19,934 total -21,893”