Edc Inc Greater Peoria Economic Dev Council

“Effective june 1, 2013 control of edc, inc., the economic development council for central illinois was transferred from the greater peoria business alliance to an independent board of directors.hence, the number of directors was changed and is as follows: the number of directors shall be 32 - 16 designated and 16 non-designated, each with a term of 2 years and may serve a maximum of 3 consecutive two-year terms.the designated directors prepresenting county governments that are investor members will be appointed by the county board chair or by the county board chair with the consent of the county board as determined by county policy. Designated directors representing municipal governments that are investor members will be appointed by that municipal government's mayor or village president. Designated directors shall serve by virtue of their office or position in their respective organization and shall serve as long as they continue to hold such office or position.the non-designated directors shall have or have had their principal employment in the private sector, and their employer shall be an investor member. Non-designated director appointments shall be made to assure balance in regards to geographical location and business size, as well as, represent minority, woman, disabled, or disadvantaged business persons throughout the corporation's service area.”

“Gpedc inc has investor members. Membership is based upon financial or in kind support of the corporation as determined by the board of directors. The members do not have the power to elect the governing body or make governing decisions.”

“The 990 is provided to the finance committee electronically for review and comments before filing. The executive committee also receives a copy prior to filing if time permits.”

“Board members recuse themselves from votes that could be considered a conflict and make sure the organization has strong internal controls.”

“The compensation committee meets to establish parameters used to determine salary increases of the employees.”

“The organization does not make its governing documents available to the general public.”

“The governing body is responsible for selection of the independent accountant and oversight of the audit. This process has not changed from the prior year.”

“The employees of gpedc are included in the federal employment tax returns of the greater peoria economic development council.”