Regional Business Council

“Rbc members do not receive tangible benefits from the organization and dues are considered charitable contributions. Rbc has two classes of voting members, regular members and associate members.”

“Rbc has two classes of voting members, regular members and associate members. Both types of members are directors by virtue of their membership and may vote on admission of new members and election of officers.”

“Rbc members vote on selection of the members of the executive committee. The executive committee is charged with all duties and responsibilities of the board and is authorized and empowered to act on behalf of the board between its regular or special meetings, in accordance with the missouri nonprofit corporation act.”

“The executive committee regularly reviews the internal financial statements and the organization's activities throughout the year. The financial statements are finalized before the form 990 is prepared. Rbc discusses the form 990 at a board meeting and it is available to any member upon request. The form 990 is prepared in collaboration with outside professionals who have expertise in tax-exempt organizations. A draft of the return is reviewed by the president & ceo, chairman, and treasurer. The return is then signed by the treasurer.”

“Conflict of interest policy - the policy applies to members, directors, officers and employees. They are responsible for self identification and disclosure of actual or potential conflicts to the executive committee. The person with the potential conflict does not participate in the decision where there is a conflict. The disinterested members of the executive committee advise whether a transaction should be authorized, approved or ratified.”

“Determination of compensation description of the process - all pay is based on market and merit. Annual evaluations are conducted for all employees. The evaluations consider performance and progress towards previously established goals. Rbc monitors the compensation paid for similar positions. The president reports on the overall achievements of the organization. The report is then discussed at the executive committee and the full board. As deemed appropriate by the chair, a compensation review regarding the president is conducted from time to time. The president and rbc have entered into an employment agreement. All policies described above apply to the president. Comparable salary information is considered annually for the president. The last full compensation review for the president was in 2023. The most recent employment agreement was signed in 2024.”

“The regional business council's 990 are publicly available.”

“The regional business council's partnership with the community impact network for managing the financial operations of the legacy center continued into 2024. Based in normandy, the legacy center provides valuable programming and opportunities for thousands of children and adults generally in the normandy and other low-income neighborhoods in order to improve the quality of life of the residents and students. The regional business council's partnership with the legacy center ended in june 2024, and all related rbc financial transactions with the community impact network for the legacy center were completed by 12/31/2024.”