Financial Executives International

“The Board of Directors may establish an Executive Committee composed of at least three directors designated by the Board of Directors. The Executive Committee has the authority of the Board of Directors in the management of the business of this corporation in the interval between meetings of the Board of Directors.”

“Financial Executives International, Twin Cities Chapter, Inc. ("FEI-TC") members include company Chief Financial Officers, controllers, treasurers, tax executives, internal audit leaders, risk management executives, and others including select members of academia and government. The Twin Cities Chapter is one of the largest and most succesful chapters in FEI, and our 284 members represent a broad cross-section of industries including for-profit and non-profit companies, academia, and government.The membership application process is handled by FEI National for all chapters. The filing organization does not control the membership application process or documentation.”

“The board of directors are elected by the voting members at the annual meeting.”

“The Form 990 is prepared by an independent accounting firm and reviewed by the Treasurer of the board. A copy is made available to all members of the governing body prior to filing.”

“The conflict of interest policy governs conflicts of interest involving members of the board of directors and committees empowered to act on behalf of the board of directors of Financial Executives International Twin Cities Chapter (FEI-TC) and employees or independent contractors engaged by FEI-TC. Each officer and director shall complete a conflict of interest disclosure form annually; however, such annual disclosures shall be supplemented promptly by additioanl written disclosures as required. Possible actions that may be taken by the body or person reviewing the conflict of interest include, but are not limited to: prohibiting consideration of a proposal for providing products or services; permitting consideration of a proposal for providing products or services, but only as one of several competing proposals; determining, after exercising due diligence and seeking input from the appropriate FEI-TC committee, whether the proposal related to the officer and director is the most advantageous transaction or arrangement for FEI-TC and, if so, whether it is fair and reasonable and in the best interest of the organization; requesting all necessary actions to eliminate the conflict of interest; determining that the officer or director may not participate in discussion or determination of the matter to which the conflict of interest relates; and requesting the resignation of the officer or director from the position with FEI-TC. If the FEI-TC President, the FEI-TC Executive Committee, or the FEI-TC Board of Directors has reasonable cause to believe that an officer or director has failed to make a disclosure required by this policy, the officer or director shall be informed of the basis for such belief and shall be afforded an opportunity to explain the alleged failure to disclose. If, after hearing the officer or director's response and making any further investigation warranted by the circumstances, the appropriate body determines that the officer or director has failed to disclose an actual or potential conflict of interest, appropriate disciplinary and corrective action, up to and including removal from an FEI-TC office or staff position and expulsion from FEI-TC shall be taken.”

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

“The Executive Director is an employee of Financial Executives International, the national chapter. Financial Executives International, Twin Cities Chapter, Inc. reimburses the national chapter for the Executive Director services. The 2023 expenses reimbursed totalled $129,885 and are reported on Line 11g of the Statement of Functional Expenses.”

“Contract Services 639. Executive Director Services 113,930. Administrative Services 40,103. Outside Contract Services 1,879. National Billing Fees 690.”