Island Bay Yacht Club

“The organization has members which are divided into 8 classes each with its own requirements and restrictions.”

“The officers of this club, commodore and vice commodore are elected by the members. The board of directors which is comprised of commodore, vice commodore, the retiring commodore and eleven other members of the club shall be elected by the members at the annual meeting. The board of directors shall appoint a nominating committee of five regular members of the club who are not members of the board of directors. Said committee shall nominate a member of the club for each office, including that of directors, to be filled at the annual elections, and shall certify said nominations to the secretary of the club. The secretary shall cast one ballot at the annual election for the persons so nominated, and all such members thereupon shall be the duly elected officers and directors of the club for the ensuing year, and until their successors are duly elected and qualified. Within ten days of the nomination any twenty or more members entitled to vote at such annual election may nominate other candidates to all or any of the offices by petition signed by them and filed with the secretary. Candidates nominated by the petition and recommendation of the nomination committee shall be submitted to the members at the annual meeting for voting a secret ballot thereon. The commodore shall appoint tellers of the election to canvass the ballots and report the results at the annual meeting. Regular members whose accounts are not delinquent shall be entitled to vote at such a meeting. A member entitled to vote may vote in person or by absentee ballot.”

“The additional committees have no authority to act on behalf of the governing body.”

“The treasurer will thoroughly review form 990 and 990-t. After this review and before filing, form 990 and form 990-t are made available to the governing board for review and a brief summary is presented.”

“Officers, directors, and key employees are required to complete and file an annual report disclosing any conflicts of interest. The annual reports are then reviewed by the executive committee. During the reporting period, any conflicts of interest would be raised at monthly board meetings.”

“The club's general manager is compensated. Key employee compensation is determined as follows: key employee's compensation is evaluated each year by comparing equivalent jobs in the local and regional markets. Adjustments may be made to compensation based on these evaluation and other key performance factors as determined by the executive committee and approved by the board of directors of ibyc.”

“The organization's governing documents, conflict of interest policy, and financial statements are available to the public upon request.”

“The organization's oversight is provided by the treasurer.”