Columbia River Economic Development Council

“The columbia river economic development council (credc) has one class of members, and does not have stockholders.”

“The credc's members have the right to elect board members. No governance decisions are reserved for, or subject to approval by, the members or any other persons, other than the governing body.”

“No committee has authority to act on behalf of the board of directors.”

“The form 990 is reviewed by finance committee and executive committee members before it is filed.”

“Board members, officers and key employees are required to annually disclose potential conflicts of interest. If any were to arise, appropriate action would be taken in accordance with the conflict of interest policy. A third party cfo reviews transactions monthly for potential conflicts and shares any finding with the finance committee. The credc president, who is the only staff member authorized to enter into a contractual agreement, makes a final determination regarding whether a conflict, or potential conflict exists. In any case involving the president, the executive officers and/or the board of directors would make a final determination.”

“Compensation surveys are conducted for all positions on an annual basis as a part of the performance review process. Compensation increases are approved by the board of directors. Form 990, part vi, section b, line 15b: no other officers or key employees are compensated.”

“The organization makes its governing documents, policies and financial statements available upon request.”

“In 2020, several governmental agencies in the state of washington contracted with the organization to distribute several million dollars in cares funding to help local businesses. This was a one time activity for the organization.”

“Prior period adj. To agree fixed asset balances to audited financial stmts. 991.”

“The year ended december 31, 2020 is the first year for which a financial statement audit has been performed.”