Denver Metro Chamber of Commerce

“The Chamber's bylaws have been amended for the following changes: 1. Add the Chair of the Colorado Competitive Council (C3) to the list of ex-officio directors. 2. Add C3 to the Executive Committee members. 3. Update the name of the Metro Denver Economic Development Corporation. 4. Create four non-voting ex-officio Board members. These are the public entities on the board and the two higher education institutions.”

“The Form 990 is initially reviewed by the Director of Finance and Chief Operating Officer. The 990 is then distributed electronically to the Finance and Audit Committee for pre-read and then reviewed at a Finance and Audit Committee meeting. At the meeting, representatives from the firm that prepares the tax return present the 990 to the Committee. When the Committee is comfortable with the 990, the Committee recommends that it be presented for the Board of Directors for acceptance. A representative from the Finance and Audit Committee, typically the Chair, will present the 990 to the Board with assistance from representatives from the audit firm as necessary. If the Board votes to accept the 990, it is officially filed.”

“Each conflict of interest questionnaire is reviewed internally and summarized by the Chief Operating Officer. This summary, along with any areas of concern, is then presented to the Finance and Audit Committee to determine if there are any conflicts. The Finance and Audit Committee presents a summary of their findings at a minimum of 2 to 3 times per year to the Board of Directors.”

“The organization reviews the total compensation of the CEO, and other executive salaries using three sources - Mountain States Employers Council Salary Survey (MSEC), American Chamber of Commerce Executives Salary Survey, and Watson Wyatt Salary Survey or other comparable sources. In addition to utilizing these three independent sources, the organization also has a compensation committee consisting of three uncompensated Board members - the Chair of the Board, the Past Chair of the Board, and the Chair-Elect of the Board. The committee approves top management total compensation.”

“The Chamber has a written policy detailing how documents are made accessible to the public, which was reviewed and approved by the Finance and Audit Committee. The governing documents, conflict of interest policy, and financial statements are all available upon written request, or upon email request to denverchamber.org.”

“Donated ticket vouchers not used by year end 90,455.”

“The Finance and Audit Committee is responsible for selecting the independent auditors and reviewing the results of the audit. The Committee meets annually with the independent auditors to receive the audit report and internal control recommendations, if any. There were no changes to this process in the current year.”