Chicago Lighthouse Industries

“Organization's members or stockholders the chicago lighthouse for people who are blind or visually impaired, an irc 501(c)(3) entity, is the sole member of chicago lighthouse industries.”

“Members with power to elect governing body the board shall be composed of ten (10) directors elected by the chicago lighthouse for people who are blind or visually impaired, the sole member of the corporation.”

“Form 990 review process the form 990 was distributed among all members of the board of directors, either via email or hard copy, depending on the preferred method of communication. The board reviewed the mission statement, the program activities, report of compensation and the presentation of financial information for the year, all in light of the tax exempt status of the organization. Upon completion of their review, the 990 was filed.”

“Explanation of monitoring and enforcement of conflicts annually, directors and officers sign a conflict of interest form and disclose areas of potential conflict. These forms are reviewed by the board chair and the president/ceo, with assistance from the board liaison. If further action needs to be taken, the issue is brought before the executive committee and if necessary, the full board. There is a requirement to review potential conflicts as situations may arise during the year. As the lighthouse embarks upon various business transactions, if there appears to be a potential conflict with a specific potential transaction, the lighthouse goes through the same process as is done with the board members' annual declarations - review, followed by discussion with the executive committee and if necessary, the issue is brought to a board meeting.”

“Compensation review and approval process for officers and key employees officers and key employees are paid by the chicago lighthouse for people who are blind or visually impaired, and salary is determined by that organization. This is the process that is followed by the organization. For the chief executive officer position, a salary survey was done utilizing data from 990 irs forms from similar organizations that provide the same services and chicago-land area organizations. Guidestar.org was utilized in order to obtain the information based on irs data. The following information was gathered from the organizations --- salary, benefits/deferred compensation, revenue, expenses, net assets, number of employees and clients served. The salary survey was reviewed by the board search committee which consisted of the president, director of human resources and board members. A recommendation was made to the board of directors. The board of directors approved the recommendation. Annual increases for this position are brought before the executive committee as part of the performance review process. For other key positions within the agency, salaries are approved as part of the annual budget approval process. Every few years, or as need arises, surveys are done so that salary benchmarks can be determined. When major changes are going to be made, this information may be brought to the administrative services and/or the finance committees of the board.”

“Other organization documents publicly available the articles of incorporation, by-laws, board minutes, irs determination letter, conflict of information and financial statements are available upon request. Audited financial statements are filed with the illinois attorney general's office and are available on the organizations website and on-line through multiple sources.”