Economic Development Partnership of Alabama Inc

“Any person, corporation, partnership, organization, association, governmental agency or entity or other enterprise with an interest in the economic development of the state of alabama may become a member of the corporation provided that the applicant's application for membership in the corporation has been approved by the president, the applicant has agreed to be bound by the by-laws and operating rules of the corporation as may be in effect from time to time, the applicant has pleged to maintain its current level of support for local economic development activities, and the applicant has pledged to pay the corporation or to the economic development partnership of alabama foundation, inc. (the "foundation") such dues and extraordinary contributions as shall have been prescribed by the board for membership in the class to which such applicant seeks admission; provided, however, that a pledge to pay such dues and extraordinary contributions to the foundation may be made by an applicant only upon the written authorization of the president of the corporation.”

“One board member is elected by associate members. Two board members are elected by regular members. Two board members are appointed by sustaining members.”

“A draft copy of the form 990 is provided to the finance and audit committee for questions and review before the return is filed.”

“Employees, officers and the board of directors are required to review, and complete, a conflict of interest disclosure annually. The officers of the organization are responsible for the monitoring of events which may give rise to potential conflict.”

“The chairman of the compensation and policy committee reviews all proposed merit increases, and bonuses, before the proposals are taken to the edpa board for its approval.”

“As a general rule, the organization does not make its governing documents, conflict of interest policy, and financial statements available to the public.”

“As a general rule, the organization does not make its governing documents, conflict of interest policy, and financial statements available to the public unless a request is made.”

“Audit fees 19,750. Payroll services 2,809. Management fees - retirement plan 57. Consulting service - economic development 22,500. Contract services - miscellaneous 15,294. Contract services - programatic leadership 217,496. Consulting services -communications & marketing 258,000. Consulting service - personnel evaluations 11,250.”

“Buildings and sites database 43,665. Communications 38,679. Other program service expense 27,500. Taxes and licenses 26,182. Dues and memberships 25,244. Equipment rental 24,344. Other operating (g&a) expense 18,802. Sponsorships, donations & gifts 17,500. Events 15,375. Professional development 8,785. Postage 5,340. Repairs and maintenance - auto 3,049. Miscellaneous 808.”

“The organization has not changed its selection or oversight processes since the prior tax year.”

“An amended return was necessary as the organization's annual audit was not final when original return was filed. Audit adjustments were subsequently made to the note receivable held and therefore an amended return was prepared to reflect the write down to estimated net realizable value.”