International Economic Development Council Inc.

“Iedc has the following members: -active member: membership in the council shall be open to governmental agencies, private organizations and individuals engaged in or concerned with local, regional, state and provincial economic and community development upon application to, and acceptance by, the president, in accordance with specifications of the executive committee. Active membership embraces all membership privileges, including but not limited to the power to amend these bylaws as hereinafter provided. -members in transition: designation is available to former members in good standing or other individuals who have been active in the affairs of the council and who currently are not employed in economic development but who desire to maintain an association with and to further the purpose of the council. An inactive member cannot vote or hold office and is eligible for membership privileges as defined by the board of directors. -student member criteria: designation is available to individuals who are full-time students at the graduate or undergraduate level. A student member may not vote or hold office, but may serve on committees, and is eligible for membership privileges as defined by the board of directors. -fellow of the council status: a fellow of the american economic development council shall be entitled to use this honorific with the iedc as long as membership in the council is maintained. -honorary life member status: honorary life members of the american economic development council shall be entitled to use this honorific with the iedc as long as membership in the council is maintained. -emeritus member status: emeritus members of the american economic development council shall be entitled to use this honorific with the iedc as long as membership in the council is maintained.”

“The names of the members of the nominating committee appointed pursuant to article vii, paragraph 2 of the bylaws shall be mailed to the membership of the council at least 120 days prior to the annual meeting. Members shall be invited to submit recommendations for directors to the nominating committee. Recommendations will be considered as validly submitted if the nomination, accompanied by a one paragraph biographic statement on the candidate and either a petition signed by twenty (20) members or letters of endorsement from twenty (20) members (or some combination thereof), is received within sixty (60) days of the date of the above referenced mailing to members. The nominating committee shall nominate a slate of directors for election at the annual meeting of the board, such slate to include as many nominees as there are vacancies to be filled as of the annual meeting. The nominating committee shall consider any individual with respect to whom it has received a valid recommendation, but may also draw from the membership at large (including any non-member who has agreed to become a member of the council if elected to serve as director). Nominations should assure geographic, ethnic, and gender diversity to reflect the profession. With respect to the prospective nominations of current directors who may be under consideration to serve either a 3rd or 4th consecutive term, the nominations committee shall consider and evaluate the level of participation, performance, and contributions of any such prospective nominees, who shall require the endorsement of the executive committee. At least thirty (30) days prior to the annual meeting the nominating committee shall mail to the membership its slate of nominees along with a one-paragraph biographical statement submitted by each nominee. Such mailing shall also include the names and biographical statements of any individuals, not included on the nominating committee's slate, with respect to whom a valid recommendation was submitted. The slate of nominees recommended by the nominating committee may be elected at the annual meeting of the board by a majority vote of those board members present and voting. If a majority of members present and voting fail to vote affirmatively for the slate of nominees, subsequent voting shall be by written ballot. Such ballot shall include the names of all candidates on the nominating committee's slate as well as all other candidates whose nomination was validly submitted pursuant to paragraph 3 to the nominating committee. Voting shall be non-cumulative, and those candidates receiving the highest number of votes shall be elected. In the event of a tie vote, a run-off election shall be held.”

“The organization provided a copy of the form 990 to its board of directors to review before the final form 990 was filed with the internal revenue service.”

“The organization's board handbook contains a "conflict of interest disclosure form" which is completed by each board member annually. Potential conflicts are investigated as necessary.”

“The organization utilizes a compensation committee (members of the governance committee) to review the president/ceo's employment agreement annually with the assistance of a third party consulting firm. The compensation committee establishes the annual goals for the president/ceo.”

“Financial statements, conflict of interest policy and governing documents are available upon request for the same period of disclosure as set forth in section 6104(d).”

“Consultants: program service expenses 366,494. Management and general expenses 481,293. Fundraising expenses 0. Total expenses 847,787.”

“The organization's audit committee is responsible for oversight of the audit of the financial statements and selection of the independent accountant. This process has not changed from the prior year.”