Greater Washington Board of Trade

“The 990 was prepared by the outside accountants and reviewed by the organization's cpa, the ceo, the treasurer and the board finance committee before filing with the irs.”

“Each director, officer, and member of a committee with board of directors delegated powers annually signs a coi statement. If the conflict of interest involves a financial interest to the interested person, and if a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the executive committee determines by a majority vote of the disinterested members of the executive committee whether the transaction or arrangement is in the corporation's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination, it makes its decision as to whether to enter into the transaction or arrangement. If after hearing the interested persons response and after making further investigation as warranted by the circumstances, the executive committee determines the interested person has failed to disclose an actual or possible conflict of interest, it takes appropriate disciplinary and corrective action.”

“Compensation of the organization's ceo is determined by the governance committee, which meets once per year, by using comparable data and is documented in the board minutes. The goverance committee reviews ceo performance and determines bonus compensation. The ceo's latest compensation review took place on november 2024.”

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

“On august 2, 2020, the organizations received loan proceeds in the amount of $150,000, under the economic injury disaster loan (eidl) program administered by the small business administration (sba). The promissory note calls for monthly payments of $641, comprising both principal and interest payments, over the 30-year term of the promissory note, with a deferral of payments for the first twelve months, subsequently increased to the first thirty months. The loan interest rate is 2.75% per annum.”