Thurston County Economic Development Council

“The executive committee shall exercise those powers and duties deemed by it to be necessary in the prudent management of the affairs of the council when the board of directors is not in session, not inconsistent with the actions taken or policies established by the board of directors. All actions of the executive committee shall be subject to review, approval or overrule, by the board of directors.”

“The organization is supported by private memberships dues. The classes of members are as follows: primary $500, associate $1,000, participant $2,500, corporate $5,000, major $7,500, principal $10,000.”

“Board of directors are elected by a vote of the edc membership.”

“Members of the organization must approve any amendments to the bylaws in an action by the board. The member may amend, alter or repeal the bylaws at any annual or special meeting of the membership if notice of the proposed alteration or amendment is contained in the notice of the meeting.”

“The organization's treasurer and president review the form 990 prior to filing.”

“The conflict of interest policy is monitored and enforced through the executive committee of the board of directors, as per the personnel policies and bylaws annually. It covers board members and employees.”

“There is a formal review process. The executive committee provides the review of the executive director. The president and president elect deliver the review and have final approval of the review. The executive committee reviews data (compensation packages) of executive directors from surrounding and like-sized economic development organizations. All reviews and compensation memorandums are inserted into the employee file of the executive director. The executive director has a formal and in depth review at the conclusion of the president of the board of director's term. The last review occurred in 2020.”

“The organization's financial statements, governing documents, conflic of interest policy and annual tax returns are available for public inspection upon request.”

“Other: program service expenses 28,587. Management and general expenses 52,456. Fundraising expenses 0. Total expenses 81,043. Contracted services: program service expenses 1,224,347. Management and general expenses -3,000. Fundraising expenses 0. Total expenses 1,221,347.”

“The process for selection of the audit firm has not changed from the prior year.”