Greater Irvine Chamber of Commerce

“As a chamber of commerce, we have approximately six hundred (600) members from the business community.”

“At the beginning of each fiscal year of the chamber, the chair of the board shall appoint a board development committee consisting of at least five (5) members, at least two (2) of whom are members of the board of directors. This committee shall nominate a slate of candidates consisting of up to ten (10) nominees, as needed, to serve as directors, filling the vacancies resulting from the expiration of the terms of retiring members of the board each year. The slate of candidates shall be sent to the membership by u.s. Mail, e-mail, or a similar form of communication no later than may 1 of each year. Any thirty (30) members may nominate one or more members for director by filing with the secretary or chief executive officer of the corporation an approved petition form not later than ten (10) days after the slate of candidates is sent to the membership in accordance with subsection (b). The thirty (30) members designated above shall not include more than one (1) signature per membership. If no petitions are filed within ten (10) days after the slate of candidates is sent to the membership in accordance with subsection (b), the slate of candidates selected by the board development committee are deemed elected.”

“The board of directors receives a copy of the draft form 990 prior to filing with internal revenue service.”

“The conflict of interest policy is distributed to the board of directors and key staff annually, and each director confirms in writing annually that they are in compliance with the policy.”

“On an annual basis the board of directors selects a committee of 3 to 5 board members, designated the compensation committee, to review the ceo's past performance as well as his/her salary. The review begins in may of each year and is completed by the end of the following july. Past performance is reviewed, and if the ceo has met his/her goals, a bonus may be considered. Areas generally reviewed include financial performance of the organization, the number of new and renewing memberships, subordinate performances, continuing education accomplishments and other goals based on performance levels. Once the review is completed, the selected board members meet with the ceo and discuss the outcome of the performance review. At that time, a bonus, if earned, is granted to the ceo based on his/her performance. The compensation committee then sets new goals for the new fiscal year, which are presented to the ceo so that he/she may monitor progress throughout the year. The process for the exec (sr) vp is the same as the ceo process. For all other officers and key employees, on an annual basis the financial affairs committee makes a recommendation for an overall budgeted salaries amount. This may or may not include raises. The total dollars of the salaries, including any increases, are submitted to the board of directors for approval along with the entire budget. Once the budget has been approved, the board relies on the ceo to determine the exact amount of salary increases for each employee. The ceo prepares a review for each employee on an annual basis. Based upon the employee or staff's performance the ceo will give the employee a percentage or flat rate increase to the employee and informs them of the effective date of the increase. The total amount of all salary increases may not exceed the amount approved by the board of directors on the budget without approval from the board of directors. The salaries are monitored each month by the financial affairs committee and the board of directors to make sure that the total dollars haven't exceeded the annual budgeted amount.”

“The chamber's governing documents, conflict of interest policy, and annual financial statements are available upon request.”

“Funding for the destination marketing and economic development activities previously carried out by the chamber were redirected to the city of irvine effective july 1, 2023. The chamber ceased to conduct those activities as of that date.”

“The chamber was not audited for the fiscal year ended june 30, 2024, nor were the financial statement compiled by an independent cpa.”