Midwest Dairy Association

“The executive committee has the authority to act on behalf of the governing body.”

“The 2024 form 990 will be filed prior to review by the corporate board. A summary version of the form 990 (with confidential salary information blacked out) will be distributed to the corporate board during a july 2025 board meeting.”

“The policy requires all corporate and division board members, and key employees to sign an annual statement disclosing conflicts of interest that could arise from their interests. For all individuals who disclose potential conflicts of interest, staff will follow up on the potential conflicts of interest and document their findings.”

“For the ceo: 1. The organization holds an employment agreement with the ceo. The agreement renews automatically for one-year terms. 2. Every 2-3 years, an hr consulting firm is utilized to benchmark the salary range of the ceo by comparing the ceo position description to similar positions across the u.s. 3. Every year, the organization's executive committee (formerly know as: personnel/audit committee) conducts a performance review of the ceo, reviews the ceo's current compensation, and makes an annual ceo raise recommendation to the corporate board. 4. Every year, the corporate board reviews the performance review of the ceo, and conducts an executive session to approve the next year's salary for the ceo.”

“For key employees: 1. Every 2-3 years, an hr consulting firm is utilized to benchmark the salary ranges of all employees. 2. Every year, the hr consulting firm provides expected pay increase and structure adjustment survey data. 3. Every year, the organization's executive committee (formerly know as: personnel/audit committee) recommends that the corporate board approve the next year's budget which includes an annual average salary increase. 4. Each supervisor makes an annual raise recommendation based on each employee's annual performance and current position in the salary range for the specific position.”

“Summary financial information is published in the organization's annual report, and posted on the website each year. The organization would make its governing documents and conflict of interest policy available to the public, if requested.”