Bradenton Yacht Club Inc

“A nominating committee recommends board positions, but nominations are also accepted from membership during the voting process.”

“Any expense greater than $50,000 requires membership approval except if approved in the operating/capital budget.”

“It is the responsibility of the Bradenton Yacht Club Treasurer and Finance Committee to review the Form 990 in detail after it is prepared by the Club's outside auditors and before it is filed each year. This review should include determining that the transactions reported represent fairly the club's financial activity for the reporting period and that all other disclosures appear to be reasonable and complete. Once this review is complete and approved, the Finance Committee will recommend to the Board that the return be filed, as prepared and reviewed, by the required due date. The Treasurer should present the Finance Committee's recommendations regarding the Form 990 to the full Board and give them the opportunity to review a copy of the form before it is filed. The Board should have the final vote to accept the return, as prepared, for filing with the IRS.”

“Individuals and members acting on behalf of the Bradenton Yacht Club are obligated to avoid and/or disclose ethical, legal, financial, or other conflicts of interest involving the club, and remove themselves from a position of decision-making authority with respect to any conflict situation involving the club. Employees and board members are required to fill out a conflict of interest questionnaire and update it on an annual basis.”

“It is the responsibility of the Bradenton Yacht Club Executive Committee for setting the compensation package for the Club General Manager as part of negotiating his or her employment contract with approval by the Board of Directors. The process for evaluating the Club Manager's compensation involves the Executive Committee's researching and considering the following factors: 1. If new to the job, prior experience, qualifications and job references for the Club Manager prior to coming to BYC. 2. Existing manager-his/her performance measured against the agreed upon goals for the past year. 3. Treasurer's research of compensation packages offered to other club managers through the annual FCYC report or by consulting Form 990s to ensure that the Club Manager's compensation is comparable with other similar clubs, considering club size and metro area. 4. The club's size and annual budget. The Treasurer will report his/her findings to the Executive Committee annually. The Executive Committee will then consider adjustments or modifications before approving Club Manager's contract.”

“It is the responsibility of the Club General Manager for recommending the compensation package for all key management personnel reporting to him/her, subject to the review and approval of the Board of Directors. The Club Manager will annually conduct a review of other management team salaries in relation to other clubs and share his/her findings with the Board of Directors prior to completion of the annual performance review of each key management staff member.”

“All required disclosures are made available upon request or at guidestar.org.”

“The finance committee reviews and approves the audited financial statements prior to their issuance. This process is unchanged from the prior year.”