Economic Development Board for Tacoma/Pierce County

“The member classes are as follows: regular members with full voting rights and emeritus members with no voting rights.”

“Only regular members have the right to vote.”

“Only regular members may vote. Decisions requiring member approval are regular board member activities.”

“Accounting firm prepares form 990 and it is reviewed by the organization's president, bookkeeper, and the executive committee of the board prior to filing.”

“The president monitors the staff members who are covered by the employee handbook conflict of interest policy. The board of director chair performs this role of oversight for the president. Weekly staff meetings and work product review facilitate consistent monitoring of employee dealings. Should an employee desire to secure outside employment or to start a business or to make a major investment in real property in pierce county other than for residential uses, he or she is required to obtain permission in writing from the president. Such determination of consistency and/or avoidance of conflict of interest, actual or perceived, shall be made in strict confidence by the president, in consultation with others as needed and as agreed upon by both the president and the employee. If actual conflicts were discovered, the employee would be excused with further dealings with the party. The directors and officers of the corporation may be interested directly or indirectly in any contract relating to or incidental to the operations conducted by the corporation, however, that any contract, transaction, or act on behalf of the corporation in matters in which the directors or officers are personally interested as shareholders, directors, or otherwise shall be at arm's length and not violative of the proscriptions in the articles of incorporation against the corporation's use or application of its funds for private benefit.”

“The executive committee hires the president and conducts annual performance evaluations. Compensation is reviewed annually and may be adjusted to reflect market and industry standards. The president hires and evaluates all employees. Each employee receives an annual performance review and compensation may be adjusted to market indicators.”

“The organization's form 990 is reviewed by the board and the forms 990 and 1023 are available to the public upon request.”

“Bylaws, mission statement, work program and financial statements are provided to all board members and are available to the public on request. The organization holds an annual meeting (open to the public) and publishes its annual report which contains financial statements. Conflict of interest policy is included within bylaws.”