Milwaukee World Festival Inc

“The voting board of directors shall be composed of: one (1) citizen appointed by the mayor of the city of milwaukee; one (1) citizen appointed by the president of the milwaukee common council; one (1) citizen appointed by the county executive of milwaukee county; three (3) board elected representatives of united festivals, inc. Or its successor; three (3) board elected representatives from the sponsor of each of the three (3) large stage areas, which on the effective date of these bylaws are generac power systems, inc., bmo harris bank, na, and molson coors beverage company) or their successors all of whom shall be appointed annually and not more than fifteen (15) additional citizens elected at-large by the board members then in office.”

“The form 990 is distributed to all members of its governing body for review before filing with the internal revenue service. It is also reviewed by the independent accounting firm.”

“No contract, transaction or other matter between the corporation and any corporation, firm, association, or entity in which a director of the corporation is a director, officer, employee, or has a material financial interest, shall be either void or voidable because of such relationship or interest or because such common or interested director is present at the meeting of the board of directors or a committee thereof which authorizes, approves or ratifies such contract, transaction, or other matter, if (i) 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, transaction, or other matter; (ii) the common or interested director shall not vote when the board of directors or committee authorizes, approves or ratifies such contract, transaction, or other matter by vote or written consent; and (iii) the contract, transaction, or other matter is fair and reasonable to the corporation. The organization issues a copy of the policy and a questionnaire to each officer, director, trustee or key employee once per year.”

“The organization engaged an independent contractor to establish comparability data for 2024. Each year that data is updated using the average merit increase for wisconsin. Each employee receives a performance rating. An increase is assigned to each employee based how close their current salary is to the comparability data and their performance rating. The personnel committee of the board reviews the resulting salary and recommends approval to the full board of directors.”

“The organization's governing documents, conflict of interest policy, and financial statements are available to the general public upon request.”

“As of 01/01/2024 sarah pancheri assumed the role of president & chief executive officer, replacing don smiley. Don smiley did maintain a role at the organization as immediate past president/ceo to assist with the transition.”

“The organization amended their irs form 990 for the year ended 12/31/2024 to reflect changes to the titles and positions held by two non voting officers and better explain the transition in leadership. This change impacted page 1, page 7, schedule j and schedule o of the form. Schedule j, part i, line 1a was also changed to break out the club memberships between these two officers.”