Minnesota Business Partnership

“The executive committee consists of no less than eleven members and no more than twenty-five members elected from the members of the board. The board may establish committees to carry out the programs of the corporation. These committees may establish rules and regulations with respect to regular or special meetings as it deems appropriate.”

“The partnership's membership consists of those individuals that hold the position of chief executive officer or comparable position of a large, private employer in the state of minnesota. The executive committee may extend membership to an individual who leads a large employer not in the private sector, where such membership is deemed appropriate.”

“The partnership's members are also the members of the board of directors.”

“The partnership's members are also the members of the board of directors; and have the authority to adopt, amend, or repeal articles or the governing documents.”

“Officers and members of audit committee review and approve. All board members are asked to review the 990 before it is filed.”

“Each member of the executive committee and the staff will annually complete a disclosure statement to identify any known real or potential conflicts of interest. A summary of these conflicts of interest will be reviewed by the audit committee and reported to the executive committee. Any member of the board of directors who wishes to determine if a conflict of interest exists may inquire of the chair of the audit committee for a resolution. Any conflicted individual will disclose the details of the conflict prior to board review of the transaction and decision. Any conflicted director shall refrain from participation in the discussion and shall abstain from voting. These actions shall be documented in the meeting minutes.”

“The executive director and ceo's annual compensation (payroll and benefits) are approved by the chairman of the board and executive committee. The chair determinations the executive director and ceo's annual salary adjustment. The chair determines appropriate titles, merit and promotional increases, and compensation consisting of salary, incentive, bonus and other discretionary pay for the executive director ensuring that salary ranges are updated at least annually, that job is market priced (at least once every two years). Individual determinations for each employee's salary adjustment is the exclusive domain of the executive director and ceo. The executive director and ceo determine the appropriate head count, titles, position levels, merit and promotional increases, and compensation consisting of salary, incentive, bonus and other discretionary pay for all positions, except that of the executive director and ceo. The executive director and ceo ensure that salary ranges are updated at least annually, that all individual jobs are market priced (at least once every two years), and that pay equity adjustments are administered in a fair and equitable manner. The process described here was last completed in 2023.”

“The partnership does not make its governing documents, conflict of interest policy, nor its financial statements available to the public.”

“The process for oversight and selection of an independent accountant has not changed from the prior year.”