Minneapolis Society of Fine Arts

“The executive committee consists of the chair, vice chairs, secretary, treasurer, director, and chair of each committee of the board. The primary purpose of the executive committee is to assist the board in fulfilling its responsibilities when it is not practical or feasible for the full board to meet and during intervals between the meetings of the board. In the exercise of such powers, the committee is responsible to the board for all of such acts.”

“Kitty crosby and lucy mitchell - family relationship eric dayton, mark dayton, wendy dayton - family relationship”

“In addition to the elective trustees, each of the following persons, upon his or her acceptance, is a member of the board for the respective term of his or her office: the governor of the state of minnesota, the mayor of the city of minneapolis, and the president of the friends of the institute. Other ex-officio members include those who from time to time are appointed by the executive committee of the mia: two members of each of the minnesota senate and house of representatives who reside in hennepin county, and one member of each of the board of hennepin county commissioners and the minneapolis park and recreation board.”

“The form 990 is prepared by a professional accounting firm from information provided by the mia. The controller and deputy director and coo of mia review the form for accuracy. A copy of the draft form is first provided to members of the audit and executive committees for review and discussion prior to filling. Upon their review, a final copy is provided to the full board of trustees.”

“Annually, all members of the board of trustees are asked to complete a disclosure statement. Each trustee is responsible to report developments relative to activities as defined in the mia's bylaws. If such a development arises after completing the annual disclosure form, the trustee is asked to disclose to the board any possible conflict of interest at the earliest practicable time. Disclosure statements are reviewed by the executive committee and the policy management team. No trustee shall vote on any matter, under consideration or at a board or committee meeting, in which such trustee has a conflict of interest. The minutes of any such meeting will reflect that a disclosure was made and that the trustee having a conflict of interest abstained from voting.”

“It is the policy of the mia that the compensation paid to its employees is reasonable and competitive in relation to comparable positions at similarly situated organizations, subject to budgetary considerations. The executive committee of the board of trustees serves as the compensation committee (the "committee") and is responsible for compliance with the compensation policies and procedures. Members of the committee with a conflict of interest must recuse himself or herself from such action and may not participate in nor be present during any discussions, deliberations or decisions. The committee sets the compensation of the director & president. The director & president makes recommendations to the committee as to the compensation for other positions reported on form 990 but does not participate in any vote with respect to approving their compensation. The director & president sets the compensation of all other employees not governed by union contracts. Accompanying the policy is a set of board-approved procedures. The committee and the director & president obtain and use comparability data prior to and in connection with the determination and approval of all compensation. The comparability data includes but is not limited to: current compensation and benefits data from comparable tax-exempt and, in some cases, taxable organizations, for functionally comparable positions requiring similar skills, education, and experience; the location of the organization (including the availability of qualified people in the geographic area); independent pay surveys by nationally recognized firms; actual written offers from similar institutions competing for the services of the person; the number of employees and the assets, budget or revenues supervised; and any unusual challenges. The committee and the director & president are required to document all aspects of all proceedings regarding the comparability data as well as the approval of all compensation. These processes were last performed in june of 2018.”

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

“Gain on beneficiary agreements 77,215.”