Madison Area Builders Association

“Classes of members - the organization has the following four classes of membership: builder member, associate member, affiliate member, and honorary member.”

“Classes/rights of members: the builder members and associate members hold full rights and privileges of membership including eligibility to cast a ballot in any vote of general membership and board of director's elections. Affiliate members and honorary members may serve and vote on committees, subcommittees, task forces, etc. But may not hold a chair position or board position and may not cast a ballot in any vote of the general membership of the organization.”

“Amendments must be approved by a vote of the membership at a meeting noticed to the members-of-record not less than thirty days prior to the scheduled vote. At a meeting at which a bylaws amendment vote is to be taken, a quorum of ten percent of the builder and associate members-of-record is necessary. Provided a quorum is present, the proposed bylaw amendment(s) may be accepted or rejected with a majority vote of builder and associate members-of-record present.”

“The prepared form 990 is reviewed and approved by the members of the governing body before the return is filed with the irs.”

“No contract or other transaction between the association and one or more of its directors or any other corporation, firm, association, or entity in which one or more of its directors are directors or officers or has a material financial interest, shall be either void or voidable because of such relationship or interest or because such director or directors are present at the meeting of the board of directors or a committee thereof which authorizes, approves or ratifies such contract or transaction or because his or their votes are counted for such purpose, if 1) the fact of such relationship or interest is disclosed or known to the board of directors or committee which authorizes, approves or ratifies the contract or transaction by a vote or consent sufficient for the purpose without counting the votes or consents of such interested directors; and 2) the fact of such relationship or interest is disclosed or known to the members entitled to vote and they authorize, approve or ratify such contract or transaction by vote or written consent; and 3) the contract or transaction is fair and reasonable to the association. Common or interested directors may be counted in determining the presence of a quorum at a meeting to the board of directors or a committee thereof which authorizes, approves or ratifies such contract or transaction.”

“All staff compensation, including that of the executive director, is determined by the executive committee in the formal meeting on an annual basis. For compensation for the executive director, the committee uses comparable data from the american society of association executives and a formal, written performance evaluation. Minutes of this meeting are contemporaneous. There are no other officers or key employees that receive compensation from the organization. Every three years a salary study is performed by an independent compensation consultant. A salary study was done in 2021 and 2023 and used to set compensation for all staff (including the executive director). The section of the salary study related to executive director compensation is made available only to the president of the board of directors. The section of the salary study related to other staff compensation is made available to the executive director and the president of the board of directors.”

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