The Central Exchange Inc

“The organization is made up of corporate and individal members and some of the members serve on the board.”

“Active members can attend all programs at no additional charge, have access to private dining facilities, vote for the governing body and are listed in the member directory.”

“Form 990 is prepared by an independent accounting firm and a draft is reviewed by management and the finance chair for comments and approval. A copy of the return is distributed to the board members prior to filing.”

“At the time of hire or election (in the case of board members) and annually thereafter, the officers, board members, and key employees shall provide the applicable conflict of interest disclosures which shall be completed to identify any relationships, positions, or circumstances in which it is believed a conflict may arise. If a conflict arises, the officer, director, or key employee abstains from the vote of the conflicted position.”

“The process for determining compensation for the executive director is conducted by the executive members of the board. The process involves using compensation figures reported in comparable organization's 990s. The process for determining compensation of other officers or key employees is conducted by the president, ceo by using comparable data of other organizations of a similar size and industry.”

“The organizations conflict of interest policy and financial statements are available by request.”

“During the year the orgnaization changed status from a 501(c)7 to a 501(c)6. 501(c)6s are more commonly known as "trade associations" or "chambers of commerce" and allow the promotion of different lines of business. This more accurately reflects our current structure than a 501(c)7. Over the last 34 years our organization has evolved and the original structure does not reflect our current business practices.”