Albuquerque Regional Economic Alliance

“Each member will, at every members' meeting, have one vote for all purposes. The members present in person or by proxy will constitute a quorum. A quorum once attained continues until adjournment despite voluntary withdrawal of enough members to leave less than a quorum. The act of the majority of the members present or represented by proxy at a meeting at which a quorum is present will constitute members' actions unless a greater proportion is required by the nonprofit corporation act, or by aed bylaws.”

“The board, by resolution adopted by a majority of the directors in office, may designate and appoint committees each of which will consist of two or more directors, and will have and may exercise the authority of the board, except to the extent limited by law or the resolution of designation. A majority of the members of a committee may fix its rules of procedure. If the rules are not fixed, the rules applicable to the board will apply. An action by a committee shall be reported to the board at a board meeting succeeding such action and shall be subject to revision by the board, although no rights of third parties shall be affected by any revision. The designation and appointment of any committee and the delegation thereto of authority will relieve the board of directors, or any individual director, of any responsibility imposed upon the board or a director. If an executive committee is designated and appointed by the board, it will have and may execise all authority and power of the board except to the extent limited by law or the resolution of designation.”

“The form 990 was faxed or mailed to members of the board for review.”

“Before business decisions are made, the board of directors determines whether or not there is a conflict of interest.”

“The board of directors evaluates the employees salaries annually as part of the budget process. Raises are based on performance and are approved by the board of directors.”

“Organization makes form 990 and the organizations governing documents, conflict of interest policy and financial statements, available to the public upon request. The form 990 is also available on guidestar.com.”

“The executive committee assumes responsibility for oversight of the audit of its financial statements and selection of an independent auditor. This process has not changed from the prior year.”