Metropolitan Consortium of Community

“Membership is open to any 501(c)(3) community development organization operating in the twin cities metro area.”

“The board of directors (the governing body or governing board) is elected by the members at the annual meeting. Member organizations may designate one person to serve as the voting representative at the annual meeting. To be eligible for election, candidates must be the executive director of one of our member organizations. Beyond election, the membership at large has no approval role of board decisions (though their input is sought through several committees that report to the board - the finance committee, economic development committee, housing committee.) while some members do participate in programs/grants with mccd that may result in compensation, the membership at large does not receive any share of excess assets (nor are they responsible for shortfalls).”

“The organization's form 990 is submitted to each member of the governing board electronically. As the board only meets on a quarterly basis, board members are asked to review individually and either submit a vote for approval or vocalize any questions or objections. If there are no objections or unanswerable questions, the form is filed as submitted. If members of the board object, or deem further discussion necessary, the form is tabled to be presented and reviewed at the next scheduled board meeting.”

“The organization's policy regarding conflicts of interest is distributed to all members of the governing board on an annual basis. The policy governs any contract or transaction with (a) one or more of its directors, (b) a director of a related organization, or (c) an organization in or of which a director of organization is a director, officer, or legal representative, or in some other way has a material financial interest. Members of the board are asked to sign and return a statement warranting that they understand the policy and agree to compliance. For any transaction which is deemed by a member of the board to be a conflict of interest, the interested director must disclose the conflict and is barred from voting on the matter. The director may be present during discussion for questioning, but may not expressly advocate for the action, and must leave the room prior to a vote. Any financial transaction for which there is a potential conflict of interest must be expressly ratified by a majority of the board at a meeting where a quorum is present. Minutes will be kept to document that all requirements of the policy have been adhered to.”

“The ceo, commonly referred to as the executive director, is responsible for hiring, managing and terminating employees and contractual agents. Compensation and other terms of employment is set by the executive director, subject to annual budget approval by the board. Compensation and other terms of employment for the executive director is set by the board of directors. An annual review of the executive director is conducted by the board of directors in january of each calendar year. The organization uses the minnesota council of non-profit's salary survey as a guide to comparable market salaries. The deliberation process and decision process is documented in the individual employee records.”

“Mccd makes its financial information available to the public in 2 forms: (1) copies of the organization's annual financial statement audit are available by request, and (2) the organization's published annual report. The annual report includes financial statements, as well as program updates and prior year results and impacts. The annual report is available in print and electronically, and distributed to a mailing list of members, supporters and funders. Hard copies are also available in the organization's lobby for visitors. Mccd's organizational documents, including articles of incorporation, bylaws, and conflict of interest policy, are available for inspection, by request, in the organization's offices located at 3137 chicago ave, minneapolis.”

“Provision for loan losses -125,160.”

“The organization's finance committee is responsible for selection of the independent accountant and oversight of the annual financial statement audit. This process has not changed from the prior year.”