Community Development of Morrison County Inc

“All adult representatives or owners of businesses located in morrison county are eligible to become a member of commumunity development of morrison county inc by paying dues in such a manner and in such an amount as may be set by resolution of the board. Representatives or owners of businesses who are not adult residents of morrison county and businesses who are not located in morrison county are eligible for a non-voting membership in the corporation.”

“Each member of the corporation is entitled to one vote at membership meetings.”

“Members approve changes to the articles and/or by-laws. Members elect directors.”

“The 990 is reviewed by either the entire board or the officers/exec committee prior to filing. The cpa who prepares the return attends the meeting and goes through the information and addresses any questions prior to the approval and filing. The entire board receives a copy of the 990 either at the board approval meeting or at the next meeting following the officers/exec committee approval meeting.”

“Members and employees are covered under the "conflict of interest" (coi) policy. The board shall decide if a conflicting interest exists. A person with a conflicting interest may not participate or vote on a decision of the organization that involves the conflicting interest. The chairperson of the board, if appropriate, shall appoint a committee to investigate alternatives to the proposed transaction. The directors, from time to time, shall direct a committee review compliance with this policy.”

“The board of directors reviews and approves the compensation of the executive director. Evalutates increases by comparing to similiar positions in neighboring communities and inquiry of recruitment firms. The decision is documented in the meeting minutes.”

“The 990 is available at the organization's office for public review during normal business hours.”

“To promote, develop, and establish industrial, commercial and other businesses in little falls and morrison county. Funds are received from the u.s. Department of agriculture rural business-cooperative service, the county, and the city; and then these funds are lent out to businesses. As loans are repaid to the organization, additional loans are made.”

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