Midland Business Alliance Foundation

“The organization has updated its bylaws with the following changes: 1) the membership of the organization shall consist of two classes: class a membership and class b membership. The sole class a member shall be midland business alliance, f/k/a midland future, a michigan nonprofit corporation. The class a member shall be entitled to cast one vote on each matter submitted to vote. Class b members shall be any individual, association, or corporation having an interest in, and subscribing to the purposes of the organization. Class b members shall have no voting rights. 2) the board of directors may increase or decrease the number of directors from time to time, but in any event the board shall consist of no fewer than three and no greater than fifteen directors. 3) each director shall hold office for a period of three years except that the members of the first board of directors shall be divided into three classes with one-third to be selected by lot to serve for a term of one year, one-third to be selected by lot to serve for term of two years, and one-third being selected by lot to serve for a term of three years. 4) the president of the corporation shall appoint a person to complete the unexpired term caused by a vacancy, for any reason, of any member of the board of directors of the organization. 5) the board of directors shall elect at their annual meeting, a president, who shall serve as chairman of the board of directors, one or more vice presidents, a secretary and a treasurer. No individual may serve more than two consecutive terms as vice president or president. 6) the executive board, which was made up of several members of the board of directors, has been eliminated. The president, with the concurrence of the board of directors, shall appoint committees to handle issues such as: attraction/retention, workforce development, community development, funding development and industrial parks.”

“The organization's members have the right to elect or appoint members to the board of directors, which is the governing body of the organization. The organization has two classes of members.”

“The members of the organization approve or ratify decisions of the organization's board of directors, approve members of the executive board, and elect officers of the organization.”

“The form 990 is reviewed by the vice president of operations prior to filing.”

“Annually, the organization obtains conflict of interest statements from the board of directors. Any identified or disclosed conflicts of interest are addressed by the board of directors. Persons with an identified conflict of interest are restricted from voting on the board of director's deliberations and decisions regarding related transactions.”

“The board of directors set the chief executive officer's salary based upon a job performance review and comparison to individuals with similar responsibilities employed by similar organizations.”

“No documents available to the public.”

“Cost of goods sold 560,592 cost of goods sold -560,592 impairment loss 0”