Merchants Exchange

“During 2021 the organization amended its bylaws to: (1) allow members to participate remotely and permit remote attendance when a executive order is in place (2) highlight the duties of board members and ensure responsibilities are known, and (3) remove the use of a seal which no longer exits.”

“All dues paying members have voting rights”

“All dues paying members can elect the board of directors”

“Copy of form 990 is reviewed by management and then by at least one officer on the board of directors before it is finalized and signed by an officer or the executive director.”

“Annually the board of directors reviews and approves the annual performance goals of the executive director, reviews and approves overall performance versus goals and reviews and approves pay actions all at the recommendation of the executive & management committee and the finance & budget committee. Annually the board relies on a compensation study performed by an independent consultant to validate its recommendation for compensation for the executive director. The executive & management committee meets quarterly with the executive director to establish and review goals against perfromance. The finance and budget committee allocates pay to the annual budget and initiates pay action.”

“The organizations governing documents, policies and financial statements are available to its members but are not made available to the public.”

“Provide association support services such as bookkeeping, administration, communications, record storage, day to day program operations and management, etc. To 9 organizations involved in various aspects of maritime and agricultural commerce in the region. The organization provided 43 members with answering communications.”