Cedar Rapids Metro Economic Alliance

“The bylaws were amended april 14th, 2014. The only significant change was to the composition of the voting board of directors. Previously there was a provision for up to three additional directors to be elected by the current board; this has been reduced to two and a new required member was added. The new required member is either the mayor or city manager of the city of cedar rapids, iowa; the voting board of directors has the authority to select either the mayor or the city manager to fill this new required position on the board. The total number of voting board members will now range from not less than nine (previously eight) or more than twelve.”

“The organization has five classes of members, one of which is stakeholder members, as a separate class these members have no authority over the organization; but are incorporated as required members of the remaining four classes. The remaining four member classes are referred to as the "councils" and consist of: (1) members of the business support council, (2) members of the community development council, (3) members of the large investor council and (4) members of the economic development council. Each council membership class has the same authority and limitations as to their authority over the organization.”

“The only authority the council's have over the organization is they each have the right to separately elect and approve two of their members to serve as directors on the organization's board of directors. The council retains the right to remove and replace any director they appointed.”

“The form 990 is prepared by an independent accounting firm. The officers and board members will receive a draft before filing. Officers and audit committee members will perform a detailed review and others will be asked for comments and questions. Once draft is considered final an updated draft will be provide to all voting board members prior to filing with the irs.”

“All board members and employees are covered and are verbally requested to provide information on conflicts at the initial board and staff meetings of the year. If a conflict does arise the person(s) in conflict will recues themselves from the discussion and vote.”

“The executive committee of the board determines the president and executive vp compensation plans annually. The process includes comparability data and contemporaneous substantiation of the deliberation and decision. Form 990, part vi, line 15b: no other compensated individuals meet the definition of officer or key employee. For all other staff the president and executive vp determine compensation annually with input from human resource consultants. The process includes comparability data and contemporaneous substantiation of the deliberation and decision.”

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

“No changes from prior years.”