Abilene Industrial Foundation

“The AIF Board is a large board of 59 voting members who all have the common interest of creating economic growth in the area. It is inherent in the size of the community (117,000) that there will be business or family relationships. Grady and Jim Barr-family relationship; Gray and Tucker Bridwell-family relationship; Ron Butler and Scott Dueser-business relationship; Billy Edwards and Ray Ferguson-business relationship; Casey Curnutt and Mike Denny-business relationship; HC Zachry and Dave Hedge-business relationship; Paul Cannon and Mark Zachary-business relationship; Brian Bessent and Tim Lancaster-business relationship.”

“The fiduciary responsibilities of the Abilene Industrial Foundation (AIF) have been outsourced to Abilene Chamber of Commerce (ACOC). All employees of the AIF are paid by ACOC and their payroll taxes and W-2s are issued under ACOCs EIN (75-0101260).”

“The Abilene Industrial Foundation (AIF) adopted new by-laws in November 2014. The revised by-laws name the President of the Abilene Chamber of Commerce (a related organization) as President of the AIF with approval by the Board of AIF. In addition, the revised by-laws define the Executive Committee as the Officers of AIF.”

“The Executive Committee of the Board of Directors authorized the officers of the organization to review and approve the Form 990 before submission to the Internal Revenue Service.”

“Governing documents, conflict of interest policies, the Form 990, and financial statements of the Abilene Industrial Foundation will be provided upon request. Requests are referred to the Vice President of Administration for the Abilene Chamber of Commerce.”

“Governing documents, conflict of interest policies, the Form 990, and financial statements of the Abilene Industrial Foundation will be provided upon request. Requests are referred to the Vice President of Administration for the Abilene Chamber of Commerce.”

“Payments for advocacy services regarding issues involving state agencies with offices in Abilene - $32,224.”

“Part VI, Section A - Governing Body and ManagementUnder the by-laws of the AIF, the Executive Committee acts for and on behalf of the Board of Directors when the Board is not in session, but is accountable to the Board for its actions. The Executive Committee is comprised of the officers of the organization. Generally, the Board meets 10 times per year and the Executive Committee meets as needed during the year.”