Michigan Bankers Association

“The organization elects persons to the board of directors by vote from its members in adherence to the policy set forth in its bylaws. Members of the board are elected from various regions through a balloting process.”

“Amendments to the organization's bylaws require approval by the membership subject to majority vote.”

“The annual audit is presented to the board of directors for acceptance at the annual december board meeting by jeff stevens from maner costerisan. At this time the board of directors can review the audit report and the form 990 (if available) and inquire of the auditor/tax preparer any questions that arise. Following this discussion the audit committee member(s) on the board of directors will recommend the acceptance of the audit which has been previously reviewed by the audit committee for acceptance. If the form 990 is not available at the time of the annual audit acceptance, the form 990 for the michigan bankers association is presented for review to the board of directors at the next available opportunity after the return is prepared.”

“Annually all officers and directors of the association are required to disclose any potential conflicts of interest by filling out a form disclosing all conflicts and signing. In addition, officers and directors are encouraged to bring to the association's attention any new interest that could give rise to conflict that happen during the year.”

“The officers of the board of directors annually review the compensation of the ceo of the association. The ceo completes an annual review and updates the strategic plan for the association noting both success and challenges in obtaining strategic goals. The officers will go over the ceo's review along with the status of the strategic plan when determining his/her compensation. Provided are cost of living analysis, other tools such as salary surveys and other executive's compensation taken from similar organizations. All of this information is taken into consideration for determining the ceo's salary for the next fiscal year. The ceo is the only officer of the association that receives compensation from the board. The ceo of the association determines the compensation of all other employees. The ceo will look at an employee's annual review, accomplishments during the past year and future goals, as well as cost of living analysis for the past year, salary surveys, as well as other key employee's compensation taken from similar organizations. The ceo will take into consideration all of this information when determining an employee's salary for the next fiscal year. The annual budget is approved by the board of directors which includes specific line item detail on all aspects of compensation and benefits for the association employees.”

“The organization makes available to the public the information as required for public disclosure upon request. The form 990 and supporting schedules are also available on guidestar's website. Annually a statement of condition is provided to all members of the association. Additional information, such as governing documents, policies, and financial statements will be provided to individuals upon request on a case by case basis.”

“Employer identification number: 38-0823040 for the year ending june 30, 2019 michigan bankers association, hereby elects, pursuant to irc sec. 168(k)(2)(d)(iii), not to claim the additional depreciation allowable under irc sec. 168(k) for the following qualifying property placed in service during the tax year ending june 30, 2019. All property in the 3, 5 and 10 year class. See attached form 4562.”