Inland Lake Yachting Association Inc

“Lake geneva yacht club lake geneva yacht club asst. Manage board chair employee/board member”

“Form 990, part vi, section a, line 2: the organization has member clubs and individual members.”

“Form 990, part vi, section a, line 7a: the inland lake yachting association has 48 member clubs whose delegates have voting rights and authority over the association's articles of incorporation. The delegates elect the 13 at-large members of the board of directors. The ilya has seven fleets that are recognized as sanctioned fleets. Each fleet elects a fleet committee and a chairman who sits on the ilya board of directors.”

“The member clubs nominate directors annually at the spring board meeting”

“Secretary/treasurer and executive director in consultation with other professionals to go over the return line by line prior to sending it out to the board of directors. In 2022 and 2023 the return was subject to review by a third party as required by the state of wisconsin for cresting the 300,000 mark in contributions.”

“Board members must submit signed conflict of interest policy at the beginning of the calendar year. Members with a conflict must recuse themselves from board actions relating to their conflict area.”

“Finance committe reviewed employee in 2022 and made a recommendation to the board of directors regarding any compensation changes for the executive director which must then be approved by the entire board.”

“Form 990, part vi, section b, line 15b: the executive director is the only significant employee of the association and the salary is currently 49500 annually, with a potential bonus of 2500 to be voted on at the fall board of directors meeting. The officers approved an increase effective in 2022 that was reportedly based on comparisons of job descriptions and compensation as discoverable in like employment. No other directors or officers receive compensation for their services.”

“Form 990, part vi, section c, line 19: the governing documents, including the articles of incorporation and by- laws are available publicly online at the association website which is www.ilya.org. Financial summaries for each fiscal year are printed each year in the spring issue of the association's digital publication, "scowslines", which is e-mailed to members, and is also available for anyone to read online at the association website.”

“Unrelated publication revenue”

“In the calendar year 2023, the sate of wisconsin rrequired a review because the ilya received more than 300,000 in contributions. In the calendar year 2024, the ilya did not reach that threshold.”