Compensation Advisory Organization of Michigan

“The organization has voting members”

“All board members may vote or elect other members”

“Form 990 is reviewed and verified by the president and the office manager prior to notifying the governing board members of its availability. The governing board members may request a copy for their review and/or raise any questions at the september governing board meeting prior to filing the return”

“Governing board members are annually required to sign a conflict of interest statement acknowledging that they do not have any conflicts of interest serving on the board. Further, since the board is comprised of member carriers, board representatives are asked to abstain from voting if the issue being discussed could impact their company”

“The governing boards review the president & ceo's salary annually and determines any increase or bonus. The board chair sends that salary information to the office manager - administrative and copies the organization's legal counsel to ensure that the information is not compromised. Management and staff are evaluated against benchmarked job descriptions on an annual basis. The organization's salary budget is reviewed by the operations committee prior to submitting the entire annual budget to the governing board for approval”

“The irs posts form 990 to its website. All governing board members are made aware of a pending 990 filing and offered a copy should they wish to review. Additionally, form 990 is made available to the public upon written request to the organization.”

“Governing documents are publicly available on our website (www.caom.com ). The conflict of interest policy is made available to employees in the employee handbook. All employees have access to this document through internal file sharing. The conflict of interest policy is distributed to board and committee members annually and must be signed to ensure those members have no conflict of interest white sitting on the board. The conflict of interest policy is available to the public upon written request. Financial statements are reviewed and approved annually by the audit committee and the joint governing board. Financial statements are available to the public upon written request”

“Cooperative joint ventures: program service expenses 244,050. Management and general expenses 0. Fundraising expenses 0. Total expenses 244,050. Other professional fees: program service expenses 56,840. Management and general expenses 0. Fundraising expenses 0. Total expenses 56,840.”

“Prior year reapportionment -1,224,965. Recoveries of unauthorized expenses 30,163.”

“The process for the oversight of the audit and selection of the independent auditor have not changed during the year.”