Olathe Chamber of Commerce Inc

“The organization has 27 members which help carry out the duties of the organization.”

“It is the olathe chamber of commerces policy that the chambers board of directors review the irs form 990 that is filed on the organizations behalf within a minimum of 10 days of it being filed with the irs. Means of delivery to the board is to email each directors email address and/or face to face. Form 990 is prepared by the chambers vice president of finance based on the audited financial statements and is reviewed by the chambers coo and ceo.”

“The olathe chamber of commerce has a conflict of interest policy which covers all board members, officers and employees. In connection with any actual or possible conflicts of interests, an interested person(as defined in the chambers conflict of interest policy)must disclose the existence and nature of his or her financial interest to the directors and members of committees with board-delegated powers considering the proposed transaction or agreement. After disclosure of the financial interest, the interested person shall leave the board or committee meeting while the financial interest is discussed and voted upon. The remaining board members shall decide if a conflict of interest exists. After exercising due diligence, the board of committee shall determine whether the corporation can obtain a more advantageous transaction or arrangement with reasonable efforts from a person or entity that would not give rise to a conflict of interest. The board or committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the corporatons best interest and for its own benefit and whether the transaction is fair and resonable to the corporation and shall make its decision whether to enter into the transaction or arrangement in conformity with such determination. Each director, principal officer and member of a committee with board-designated powers shall sign a statement annually which affirms that each person has received a copy of the conflicts of interest policy, has read and understands the policy and understands that the corporation is a tax-exempt organization and that in order to maintain its federal tax exemption, it must engage in activities which accomplish one or more of its tax-exempt purposes.”

“The compensation committee shall consist of the executive committee currently in office, exclusive of members who have a conflict of interest, either individually or on behalf of the business member they represent, because the executive committee member or business he or she represents has, during the current year, provided goods or services to the chamber for compensation and the executive member of the business he or she represents anticipates that it will, during the coming year, provide goods or services to the chamber for compensation or bid on the opportunity to do so. The compensation committee will establish and, at least annually, make recommendations to the board to adjust the chief excutive officers compensation and benefits.”

“The chief executive officer will establish and adjust compensation and benefits of other officers and key employees, subject to review of the compensation committee,if requested. The chief executive officer will base compensation decisions on the following factors: the chambers budget as approved by the board of directors, compensation of employees with similar qualifications and responsibilities in other not-for-profit organizations, based on actual information and industry surveys, and the amount of time employed by the chamber.”

“The olathe chamber of commerce provides audited financial statements, upon the request, either in writing or in person. We consider all requests for such documents on a case-by-case basis, with the exception of form 990, which is available at www.guidestar.org.”