Boulder Chamber of Commerce

“SEE ATTACHMENT.”

“There are seven different membership levels. Each level offers different benefits to the members. Such benefits range from recognition of the member on the website and in publications to credits toward event fees. Any member can petition to be a candidate to sit on the board of directors, but new board members are selected from the candidates by the existing board.”

“There were no committees with authority to act on behalf of the board.”

“The form 990 was prepared by the organization independent cpa with information provided by management. The board of directors receieve an electronic version of the return for review and the vice president and chief executive officer review and approve the return before filed with the irs. The chief executive officer of the organization signs the 990.”

“In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of committees with board-delegated powers considering the proposed transaction or arrangement. Each year the board executes an annual agreement with responsibilities and conflict of interest policy.after disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. After exercising due diligence, the board or committee shall determine whether the chamber can obtain, with reasonable efforts, a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest.if the board or committee has reasonable cause to believe a member has failed to disclose actual or possible conflicts of interest, it shall inform the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose. If, after hearing the member's response and after making further investigation as warranted by the circumstances, the board or committee determines the member has failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action.all deliberations and decisions made are reported in the board minutes.”

“The executive committee developed the compensation package for the president/ceo. The committee reviews several sources of data to determine the compensation, which included guidestar and surveys. The committee also uses canpo and the employer councils benchmark survey. The documentation of deliberation and decision can be found in the board minutes. Any raise or bonus is driven and approved by the board of directors. The process described here was last completed in 2024.”

“The organization makes its governing documents, conflict of interest policy and financial statements available to members of the general public upon request.”

“The nonprofit boulder chamber is the region's flagship business advocacy and support organization. With almost 120 years of dedicated service to our members and the boulder community, the boulder chamber's innovative programs help local businesses succeed. To build a strong community by supporting local for-profit and non-profit businesses, advocating for a strong business environment, and sustaining economic vitality.”

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