2018-11-14T14:54:38-06:00 2017-12-31 560574444 CHERRY BEKAERT LLP 1111 METROPOLITAN AVE STE 900 CHARLOTTE NC 28204 990 2017-01-01 560173610 GREATER CHARLOTTE CHAMBER OF COMMERCE GREA 7043781300 PO BOX 20103 CHARLOTTE NC 282020027 ROBERT G MORGAN PRESIDENT AND CEO 7043781324 2018-10-01 1 AMANDA ADAMS P00748038 7043771678 38.142.98.34 2018-10-01 08:45:32 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 18694F53AD11E15FFCEA276DE93F63B2E746D691 2017 2019-02-21 02:37:17Z ROBERT G MORGAN PO BOX 20103 CHARLOTTE NC 282020027 8923475 0 X WWW.CHARLOTTECHAMBER.COM X 1915 NC CONNECT, INNOVATE AND GROW OPPORTUNITY FOR ALL WHO DO BUSINESS IN CHARLOTTE. 176 175 52 510 25091 19409 0 0 9625034 8892885 9271 12066 276 18524 9634581 8923475 0 0 0 0 5508515 5063041 0 0 0 4049233 3562331 9557748 8625372 76833 298103 8564995 8161146 5496553 4794601 3068442 3366545 CONNECT, INNOVATE AND GROW OPPORTUNITY FOR ALL WHO DO BUSINESS IN CHARLOTTE. 0 0 THE CHARLOTTE CHAMBER'S GUIDING PRINCIPLES ARE: (1) SERVING AS THE VOICE FOR THE BUSINESS COMMUNITY; (2) GROWING ECONOMIC DIVERSITY AND SUSTAINABILITY THROUGH DIRECT RECRUITMENT, RETENTION AND RE-DEVELOPMENT;(3) CREATING FERTILE GROUND AND COMMUNICATING A BUSINESS FRIENDLY ENVIRONMENT THAT ATTRACTS AND RETAINS NEW AND EMERGING BUSINESSES;(4) PROVIDING EDUCATIONAL, NETWORKING AND BUSINESS GROWTH OPPORTUNITIES FOR ALL MEMBERS; AND, (5) COLLABORATING OPENLY AND CLOSELY WITH CHAPTER AND BOARD LEADERSHIP, BUSINESS, COMMUNITY PARTNERS AND GOVERNMENT LEADERS. THERE WERE 2,584 MEMBERS IN 2017. 0 0 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 39 0 1 52 1 1 1 0 0 0 0 0 X 176 175 1 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NC X KAREN RUNYON 7043781317 330 SOUTH TRYON STREET CHARLOTTE NC 28202 ROBERT G MORGAN PRESIDENT & CEO 40.00 X X 437246 0 40776 KENDALL ALLEY CHAIR 4.00 X X 0 0 0 JESSE CURETON 1ST VICE CHAIR 1.00 X X 0 0 0 JENNIFER WEBER 2ND VICE CHAIR 1.00 X X 0 0 0 ANDREA SMITH PAST CHAIR 4.00 X X 0 0 0 MALCOMB COLEY TREASURER 1.00 X X 0 0 0 VALECIA MCDOWELL GENERAL COUNSEL 1.00 X X 0 0 0 MICHAELINA ANTAHADES DIRECTOR 1.00 X 0 0 0 HADI ATRI DIRECTOR 1.00 X 0 0 0 LEE BALDWIN DIRECTOR 1.00 X 0 0 0 BRAD BARTHOLOMEW DIRECTOR 1.00 X 0 0 0 WES BECKNER DIRECTOR 1.00 X 0 0 0 HOWARD BISSELL DIRECTOR 1.00 X 0 0 0 BRION BLAIS DIRECTOR 1.00 X 0 0 0 BRIAN BOHATY DIRECTOR 1.00 X 0 0 0 ERIC BOLIN DIRECTOR 1.00 X 0 0 0 GREG BOULANGER DIRECTOR 1.00 X 0 0 0 CHARLES BOWMAN DIRECTOR 1.00 X 0 0 0 SKIPPER BRAKE DIRECTOR 1.00 X 0 0 0 DAWN BRASWELL DIRECTOR 1.00 X 0 0 0 GLENN BRIGHTMAN DIRECTOR 1.00 X 0 0 0 ANGELA BROOME DIRECTOR 1.00 X 0 0 0 JESSICA BROWN DIRECTOR 1.00 X 0 0 0 AMY BURKETT DIRECTOR 1.00 X 0 0 0 JOSEPH BUTLER DIRECTOR 1.00 X 0 0 0 CHRIS BYRON DIRECTOR 1.00 X 0 0 0 BRENT CAGLE DIRECTOR 1.00 X 0 0 0 VERONICA CALDERONE DIRECTOR 1.00 X 0 0 0 JOHN CATO DIRECTOR 1.00 X 0 0 0 ANN CAULKINS DIRECTOR 1.00 X 0 0 0 JOHNELLE CAUSWELL DIRECTOR 1.00 X 0 0 0 SCOTT CHAGNON DIRECTOR 1.00 X 0 0 0 BOBBY CHESNEY DIRECTOR 1.00 X 0 0 0 HOLLY CHRISTIAN DIRECTOR 1.00 X 0 0 0 ALLEN CLARK DIRECTOR 1.00 X 0 0 0 JAMES CLAYTON DIRECTOR 1.00 X 0 0 0 BETSY CONWAY DIRECTOR 1.00 X 0 0 0 LEE CORNWELL DIRECTOR 1.00 X 0 0 0 JERRY COUGHTER DIRECTOR 1.00 X 0 0 0 NED CURRAN DIRECTOR 1.00 X 0 0 0 PAT DEAN DIRECTOR 1.00 X 0 0 0 KANDI DEITEMEYER DIRECTOR 1.00 X 0 0 0 SUSAN DEVORE DIRECTOR 1.00 X 0 0 0 BETTY DOSTER DIRECTOR 1.00 X 0 0 0 THERESA DREW DIRECTOR 1.00 X 0 0 0 PHIL DUBOIS DIRECTOR 1.00 X 0 0 0 GREG DUCKWORTH DIRECTOR 1.00 X 0 0 0 ROS DURANT DIRECTOR 1.00 X 0 0 0 DAVID EDMONDSON DIRECTOR 1.00 X 0 0 0 CHRIS ELMORE DIRECTOR 1.00 X 0 0 0 TIFFANY EUBANKS DIRECTOR 1.00 X 0 0 0 DAN FOGEL DIRECTOR 1.00 X 0 0 0 THERESA FOUST DIRECTOR 1.00 X 0 0 0 TREVOR FULLER DIRECTOR 1.00 X 0 0 0 JUSTIN GAITHER DIRECTOR 1.00 X 0 0 0 ART GALLAGHER DIRECTOR 1.00 X 0 0 0 SEAN GARRETT DIRECTOR 1.00 X 0 0 0 JOE GASQUE DIRECTOR 1.00 X 0 0 0 ROCIO GONZALEZ-ZORNOSA DIRECTOR 1.00 X 0 0 0 GEOFF GRAY DIRECTOR 1.00 X 0 0 0 GARY GREER DIRECTOR 1.00 X 0 0 0 JOE HALLOW DIRECTOR 1.00 X 0 0 0 CAROL HARDISON DIRECTOR 1.00 X 0 0 0 KIARA HARLOW DIRECTOR 1.00 X 0 0 0 JOHNO HARRIS DIRECTOR 1.00 X 0 0 0 KEN HAYNES DIRECTOR 1.00 X 0 0 0 JIM HAZEL DIRECTOR 1.00 X 0 0 0 DAVID HEAD DIRECTOR 1.00 X 0 0 0 TOM HEIKS DIRECTOR 1.00 X 0 0 0 JESSICA HELMS DIRECTOR 1.00 X 0 0 0 RON HERRMANN DIRECTOR 1.00 X 0 0 0 REGINA HEYWARD DIRECTOR 1.00 X 0 0 0 JOAN HIGGINBOTHAM DIRECTOR 1.00 X 0 0 0 JASON HLEWICKI DIRECTOR 1.00 X 0 0 0 MARC HORGAN DIRECTOR 1.00 X 0 0 0 LAUREN HULTZ DIRECTOR 1.00 X 0 0 0 BLAINE JACKSON DIRECTOR 1.00 X 0 0 0 JULIE JANSON DIRECTOR 1.00 X 0 0 0 MICHAEL JONES DIRECTOR 1.00 X 0 0 0 TOM JOSEPH DIRECTOR 1.00 X 0 0 0 ANDY KALBAUGH DIRECTOR 1.00 X 0 0 0 DAVE KATZ DIRECTOR 1.00 X 0 0 0 ANDI KENNINGTON DIRECTOR 1.00 X 0 0 0 LUKE KISSAM DIRECTOR 1.00 X 0 0 0 NICOLE KLOSS DIRECTOR 1.00 X 0 0 0 AMY KOCHAN DIRECTOR 1.00 X 0 0 0 CURT LADIG DIRECTOR 1.00 X 0 0 0 BRIAN LEARY DIRECTOR 1.00 X 0 0 0 CURT LEEMAN DIRECTOR 1.00 X 0 0 0 KEN LEONCZYK DIRECTOR 1.00 X 0 0 0 JANE LEWIS-RAYMOND DIRECTOR 1.00 X 0 0 0 DAVE LONGO DIRECTOR 1.00 X 0 0 0 CAROL LOVIN DIRECTOR 1.00 X 0 0 0 DANA LUMSDEN DIRECTOR 1.00 X 0 0 0 VI LYLES DIRECTOR 1.00 X 0 0 0 GEORGE MACBAIN DIRECTOR 1.00 X 0 0 0 STEVE MAGOWAN DIRECTOR 1.00 X 0 0 0 RODNEY MAHONE DIRECTOR 1.00 X 0 0 0 BRAD MARCY DIRECTOR 1.00 X 0 0 0 MICHAEL MARSICANO DIRECTOR 1.00 X 0 0 0 JOHN MCALISTER DIRECTOR 1.00 X 0 0 0 MARY MCCRAY DIRECTOR 1.00 X 0 0 0 TINO MCFARLAND DIRECTOR 1.00 X 0 0 0 MELISSA MCGUIRE DIRECTOR 1.00 X 0 0 0 GAIL MCHUGH DIRECTOR 1.00 X 0 0 0 JEFF MCMAHON DIRECTOR 1.00 X 0 0 0 MICHELLE MENARD DIRECTOR 1.00 X 0 0 0 JENNIFER MILES DIRECTOR 1.00 X 0 0 0 CHASE MONROE DIRECTOR 1.00 X 0 0 0 TRACY MONTROSS DIRECTOR 1.00 X 0 0 0 ANDREW MORTON DIRECTOR 1.00 X 0 0 0 TOM MURRAY DIRECTOR 1.00 X 0 0 0 DAWN NEWSOME DIRECTOR 1.00 X 0 0 0 MARIA OCHOA DIRECTOR 1.00 X 0 0 0 STEVEN OTT DIRECTOR 1.00 X 0 0 0 JOE PARADISE DIRECTOR 1.00 X 0 0 0 CLAUDETTE PARHAM DIRECTOR 1.00 X 0 0 0 CHIP PENNELL DIRECTOR 1.00 X 0 0 0 BRADFORD PICOT DIRECTOR 1.00 X 0 0 0 DEBRA PLOUSHA-MOORE DIRECTOR 1.00 X 0 0 0 JON POLLACK DIRECTOR 1.00 X 0 0 0 CRAWFORD POUNDS DIRECTOR 1.00 X 0 0 0 WALTER PRICE DIRECTOR 1.00 X 0 0 0 HEATH PRIOR DIRECTOR 1.00 X 0 0 0 DAN RAJKOWSKI DIRECTOR 1.00 X 0 0 0 NADINE RAUER DIRECTOR 1.00 X 0 0 0 MIKE RESTAINO DIRECTOR 1.00 X 0 0 0 CHERYL RICHARDS DIRECTOR 1.00 X 0 0 0 PAT RILEY DIRECTOR 1.00 X 0 0 0 JENNIFER ROBERTS DIRECTOR 1.00 X 0 0 0 ALLEN ROBERTSON DIRECTOR 1.00 X 0 0 0 PAT RODGERS DIRECTOR 1.00 X 0 0 0 DAN ROSELLI DIRECTOR 1.00 X 0 0 0 MIKE RUSSELL DIRECTOR 1.00 X 0 0 0 STEPHANIE SADOWSKI DIRECTOR 1.00 X 0 0 0 CARLOS SANCHEZ DIRECTOR 1.00 X 0 0 0 JACK SANTANIELLO DIRECTOR 1.00 X 0 0 0 ELLA SCARBOROUGH DIRECTOR 1.00 X 0 0 0 MARC SCHAEFER DIRECTOR 1.00 X 0 0 0 TIMIKA SHAFEEK-HORTON DIRECTOR 1.00 X 0 0 0 ANDY SHENE DIRECTOR 1.00 X 0 0 0 MARK SKIDMORE DIRECTOR 1.00 X 0 0 0 MICHAEL SMITH DIRECTOR 1.00 X 0 0 0 WILLIAM SMITH DIRECTOR 1.00 X 0 0 0 LJ STAMBUK DIRECTOR 1.00 X 0 0 0 DJ STEPHAN DIRECTOR 1.00 X 0 0 0 TREY SUTTEN DIRECTOR 1.00 X 0 0 0 LAURIE TARDIF DIRECTOR 1.00 X 0 0 0 ROBERT TESCH DIRECTOR 1.00 X 0 0 0 CHRISTINA THIGPEN DIRECTOR 1.00 X 0 0 0 CRYSTAL THOMANN DIRECTOR 1.00 X 0 0 0 MARTHA THOMPSON DIRECTOR 1.00 X 0 0 0 TODD TIBBITS DIRECTOR 1.00 X 0 0 0 BERNARD TISDALE DIRECTOR 1.00 X 0 0 0 JOYCE TOMPKINS DIRECTOR 1.00 X 0 0 0 RICHARD TOPPING DIRECTOR 1.00 X 0 0 0 JENNIFER TORRES DIRECTOR 1.00 X 0 0 0 SCOTT TOZIER DIRECTOR 1.00 X 0 0 0 JT TREMAGLIO DIRECTOR 1.00 X 0 0 0 CHRIS TURNER DIRECTOR 1.00 X 0 0 0 KATIE TYLER DIRECTOR 1.00 X 0 0 0 CHEALE VILLA DIRECTOR 1.00 X 0 0 0 ANGIE VINCENT-HAMACHER DIRECTOR 1.00 X 0 0 0 CHRISTINA VINSON DIRECTOR 1.00 X 0 0 0 IRENE VOGELSONG DIRECTOR 1.00 X 0 0 0 GENE WADDY DIRECTOR 1.00 X 0 0 0 MARTIN WELTON DIRECTOR 1.00 X 0 0 0 JIM WHALEY DIRECTOR 1.00 X 0 0 0 MIKE WHITEHEAD DIRECTOR 1.00 X 0 0 0 FRED WHITFIELD DIRECTOR 1.00 X 0 0 0 BRIAN WILLIAMS DIRECTOR 1.00 X 0 0 0 VIRGINIA WOOTEN DIRECTOR 1.00 X 0 0 0 FRANK YOHO DIRECTOR 1.00 X 0 0 0 GARY YOUNG DIRECTOR 1.00 X 0 0 0 MANUEL ZAPATA DIRECTOR 1.00 X 0 0 0 RICHARD ZIMMERMAN DIRECTOR 1.00 X 0 0 0 MICHAEL J MANNING CFO 40.00 X 316214 0 40317 BLAIR M STANFORD COO 40.00 X 247492 0 39636 KRISTIAN K KELLOGG CRO 40.00 X 156065 0 25019 KATI HYNES VP ECONOMIC GROWTH 40.00 X 144324 0 19197 MARILYN MONSON EXECUTIVE ADMINISTRATOR 40.00 X 125785 0 18323 KEVA L WALTON CGO 40.00 X 219489 0 36408 LAUREN LAYNE VP INVESTOR RELATIONS 40.00 X 148758 0 19028 1795373 0 238704 10 0 1 0 0 PROJECT REVENUE 900099 4480598 4480598 MEMBERSHIP DUES 900099 3920287 3920287 SPONSORSHIP REVENUE 900099 492000 466909 25091 8892885 12066 12066 REFUNDS AND OTHER 900099 18524 18524 18524 8923475 8867794 25091 30590 1121681 2954120 185968 575436 225836 89873 652529 160794 423121 632031 122949 1100993 329648 41002 9391 8625372 253689 345869 4999653 4705693 36855 32073 166446 115578 3910906 960973 3096352 2949933 12000 12000 8564995 8161146 1066779 762363 3521676 3045651 908098 986587 5496553 4794601 X 2914583 3186452 153859 180093 3068442 3366545 8564995 8161146 298103 0 X 0 1 X 1 0 0 0 0 3920287 38681 38681 0 38681 2890780 519702 2371078 628014 294785 333229 392112 146486 245626 2949933 ACCRUED OFFICE RENT 335692 DEFERRED LEASE INCENTIVES 156050 ACCRUED POST-RETIREMENT BENEFIT COSTS 494845 986587 X 8923475 0 8923475 0 8923475 8625372 0 8625372 0 8625372 PART X, LINE 2: UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE, THE CHAMBER IS EXEMPT FROM FEDERAL INCOME TAX ON ALL INCOME EXCEPT UNRELATED BUSINESS INCOME AS NOTED UNDER SECTION 511 OF THE INTERNAL REVENUE CODE. INTERNAL REVENUE CODE SECTION 513(A) DEFINES AN UNRELATED TRADE OR BUSINESS OF AN EXEMPT ORGANIZATION AS ANY TRADE OR BUSINESS WHICH IS NOT SUBSTANTIALLY RELATED TO THE EXERCISE OR PERFORMANCE OF ITS EXEMPT PURPOSE. THE CHAMBER ACCOUNTS FOR TAX UNCERTAINTIES BASED ON A MORE LIKELY THAN NOT RECOGNITION THRESHOLD. THE CHAMBER HAS EVALUATED ALL ITS TAX POSITIONS AND DETERMINED THAT IT HAD NO UNCERTAIN INCOME TAX POSITIONS AS OF DECEMBER 31, 2017 OR 2016. SOUTH ASIA 0 0 PROGRAM SERVICES ENCOURAGE BUSINESS INVESTMENTS IN CHARLOTTE 4389 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES ENCOURAGE BUSINESS INVESTMENTS IN CHARLOTTE 8618 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES ENCOURAGE BUSINESS INVESTMENTS IN CHARLOTTE 12423 0 0 0 0 0 0 25430 0 25430 0 0 0 0 0 0 PART I, LINE 3: THE ORGANIZATION USED THE ACCRUAL METHOD TO ACCOUNT FOR EXPENDITURES REPORTED IN PART I. X X X X X X 0 0 0 ROBERT G MORGAN PRESIDENT & CEO 313776 0 118850 0 4620 0 21600 0 19176 0 478022 0 0 0 MICHAEL J MANNING CFO 244250 0 65686 0 6278 0 21600 0 18717 0 356531 0 0 0 BLAIR M STANFORD COO 197306 0 50186 0 0 0 20554 0 19082 0 287128 0 0 0 KRISTIAN K KELLOGG CRO 141765 0 9500 0 4800 0 6428 0 18591 0 181084 0 0 0 KATI HYNES VP ECONOMIC GROWTH 129352 0 9500 0 5472 0 11323 0 7874 0 163521 0 0 0 KEVA L WALTON CGO 186473 0 25651 0 7365 0 17803 0 18605 0 255897 0 0 0 LAUREN LAYNE VP INVESTOR RELATIONS 137458 0 9500 0 1800 0 11802 0 7226 0 167786 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 THE CHAMBER HAS PROVIDED ITS BOARD OF DIRECTORS GUIDANCE REGARDING FINANCIAL AND/OR OTHER CONFLICTS IN ITS CONFLICT OF INTEREST POLICY AND ANNUAL DISCLOSURE STATEMENT. MEMBERS OF THE BOARD OF DIRECTORS HAVE BEEN ASKED TO ACKNOWLEDGE, AND AGREE TO BE BOUND BY, THE CHAMBER'S CONFLICT OF INTEREST POLICY. IN ADDITION, CERTAIN MEMBERS OF THE BOARD OF DIRECTORS HAVE DISCLOSED THE FOLLOWING: MICHAEL SMITH HAS A BUSINESS RELATIONSHIP WITH ANN CAULKINS AND PAT RILEY. CHASE MONROE HAS A BUSINESS RELATIONSHIP WITH THE CHARLOTTE CHAMBER. JANE LEWIS-RAYMOND, AS SVP, CHIEF LEGAL, COMPLIANCE & EXTERNAL RELATIONS OFFICER OF PIEDMONT NATURAL GAS, HAS A BUSINESS RELATIONSHIP WITH ANDREA SMITH AND CHARLES BOWMAN OF BANK OF AMERICA, KENDALL ALLEY WITH WELLS FARGO, WES BECKNER WITH BB&T, THERESA DREW WITH DELOITTE AND ROBERT CHESNEY WITH PNC. MICHAEL JONES IS A SECTION 16 OFFICER OF LOWE'S COMPANIES, INC. AND LOWE'S COMPANIES, INC. HAS BUSINESS RELATIONSHIPS WITH THE EMPLOYEES OF SOME OF THE CHARLOTTE CHAMBER'S BOARD OF DIRECTORS COMPANIES. BOBBY CHESNEY HAS A BUSINESS RELATIONSHIP WITH LEE CORNWELL. DAVE KATZ HAS A BUSINESS RELATIONSHIP WITH THE CHAMBER. JENNIFER ROBERTS' HUSBAND MARLEY IS A PARTNER AT MCGUIREWOODS, A FIRM WHICH HAS DEALINGS WITH NUMEROUS CHAMBER MEMBERS. UNC CHARLOTTE, PHIL DUBOIS, CHANCELLOR, IS A MAJOR INVESTOR IN THE CHARLOTTE CHAMBER AND FREQUENTLY SEEKS CHAMBER SUPPORT FOR MAJOR INITIATIVES AND ITS LEGISLATIVE AGENDA IN THE NC GENERAL ASSEMBLY. FORM 990, PART VI, SECTION A, LINE 6 THE CHARLOTTE CHAMBER IS AN ORGANIZATION WITH MEMBERS WHO EACH HAVE THE RIGHT TO ELECT THE MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER OF THE CHAMBER HAS THE RIGHT TO ELECT THE MEMBERS OF THE GOVERNING BODY OF THE CHAMBER. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS PREPARED BY THE CHAMBER'S INDEPENDENT ACCOUNTANTS AND REVIEWED BY THE VP OF ACCOUNTING AND CEO OF THE CHAMBER. UPON APPROVAL BY THE CEO AND VP OF ACCOUNTING, THE 990 IS NEXT REVIEWED BY THE EXECUTIVE COMMITTEE AND THEN BY THE BOARD OF DIRECTORS. THE 990 IS FILED AFTER THE BOARD COMPLETES ITS REVIEW. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS SUCH PERSON: HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY, HAS READ AND UNDERSTANDS THE POLICY, HAS AGREED TO COMPLY WITH THE POLICY, AND UNDERSTANDS THE ORGANIZATION IS NON-PROFIT AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION, IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. WITH RESPECT TO ENFORCEMENT, EACH MEMBER HAS A DUTY TO DISCLOSE THE EXISTENCE OF A POSSIBLE CONFLICT OF INTEREST. ONCE A DISCLOSURE OF THE FACTS HAS BEEN MADE, THE PERSON WITH THE POTENTIAL CONFLICT MUST RECUSE THEMSELVES FROM THE MEETING. AT THIS POINT THE REMAINING MEMBERS SHALL VOTE ON WHETHER OR NOT AN ACTUAL CONFLICT EXISTS. IF IT IS DECIDED THAT A CONFLICT DOES EXIST, APPROPRIATE ACTIONS WILL BE TAKEN. FORM 990, PART VI, SECTION B, LINE 15 IN JANUARY OF EACH YEAR, THE CHAMBER CHAIR, THE EXECUTIVE COMMITTEE AND THE BOARD OF DIRECTORS REVIEW THE CHAMBER'S PROGRAM OF WORK FOR THE COMING YEAR. THE CEO'S PERFORMANCE IS BASED UPON ACHIEVEMENT OF THESE KEY OBJECTIVES WHICH HAVE BEEN ASSIGNED RELATIVE VALUE. THE STATUS OF THESE KEY OBJECTIVES ARE PRESENTED TO THE EXECUTIVE COMMITTEE MONTHLY. AT THE END OF THE YEAR, THE CURRENT CHAIRPERSON AND CEO ASSESS ACHIEVEMENT OF THESE OBJECTIVES ON THE CEO'S PERFORMANCE REVIEW FORM. THE COMPENSATION COMMITTEE CONSISTS OF: CURRENT CHAIR, IMMEDIATE PAST CHAIR, CHAIR-ELECT, GENERAL COUNSEL AND TREASURER. THE COMMITTEE IS SUPPORTED BY THE CHAMBER'S CFO. DURING 2015 A SPECIAL COMPENSATION COMMITTEE WAS FORMED TO FURTHER REFINE AND KEEP CURRENT THE CHAMBER'S COMPENSATION STRUCTURE. THIS COMMITTEE CONTRACTED WITH AN INDEPENDENT COMPENSATION CONSULTANT TO PERFORM A MARKET BENCHMARK OF ALL EXECUTIVE COMPENSATION. THIS COMMITTEE'S WORK (INCLUDING THE CONSULTANT'S FULL REPORT) WAS COMPLETELY DOCUMENTED AND SUBMITTED TO THE COMPENSATION COMMITTEE IN DECEMBER 2015. AT THE END OF THE CALENDAR YEAR, THE COMPENSATION COMMITTEE REVIEWS THE FOLLOWING FOR THE CEO PERFORMANCE EVALUATION: CEO PERFORMANCE REVIEW BASED ON OBJECTIVES DISCUSSED ABOVE, INDEPENDENT CONTRACTOR REVIEWED PROGRAM AND MARKET ASSESSMENTS, A COMPENSATION HISTORY SPREADSHEET, A BENEFITS AND TOTAL COMPENSATION EXPLANATION, CEO COMPENSATION COMPARABLES FROM OTHER LOCAL NON-PROFITS, CEO COMPENSATION COMPARABLES FROM OTHER CHAMBERS OF COMMERCE AND MINUTES FROM THE MOST RECENT COMPENSATION COMMITTEE MEETINGS. UPON DETERMINING TOTAL CEO COMPENSATION (INCLUDING SALARY, BONUS AND BENEFIT ADJUSTMENTS), THE COMPENSATION COMMITTEE SUBMITS ITS PROPOSAL TO THE EXECUTIVE COMMITTEE FOR APPROVAL. COMPENSATION FOR OFFICERS AND KEY EMPLOYEES IS DETERMINED ANNUALLY BASED ON PERFORMANCE MARKET INDICATORS. THESE KEY POSITIONS ARE REVIEWED ANNUALLY IN JANUARY AND THIS IS WHEN OBJECTIVES AND GOALS ARE DETERMINED FOR THE NEXT YEAR. THESE ANNUAL OBJECTIVES AND GOALS ARE FORMALLY REVIEWED AFTER SIX MONTHS. UNLESS THERE IS A SIGNIFICANT CHANGE IN JOB RESPONSIBILITIES OR COMPENSATION REFLECTED BY PERFORMANCE MARKET INDICATORS, COMPENSATION FOR THESE KEY POSITIONS ARE SUBJECT TO THE SAME BUDGETARY GUIDELINES AS THE REST OF THE STAFF. BONUSES AND INCENTIVE COMPENSATION FOR NON-CEO EMPLOYEES IS BASED ON ACHIEVEMENT OF BOTH ORGANIZATIONAL AND INDIVIDUAL OBJECTIVES AND THE DISCRETION OF THE CEO. THE PRESIDENT & CEO RECOMMENDS TOTAL COMPENSATION FOR THE SENIOR LEADERSHIP TEAM TO THE COMMITTEE FOR APPROVAL. CONSISTENT WITH THE EXECUTIVE COMPENSATION PROGRAM, THE COMMITTEE REVIEWS RECOMMENDATIONS FOR THE SENIOR LEADERSHIP TEAM INDIVIDUALLY (CHANGED IN 2015). THE TOTAL ANNUAL BONUS POOL IS APPROVED BY THE COMPENSATION COMMITTEE. GRANT THORNTON ALSO PROVIDED SERVICES IN AN OCTOBER 2015 EXECUTIVE COMPENSATION STUDY. FORM 990, PART VI, SECTION C, LINE 19 THE CHAMBER'S FINANCIAL STATEMENTS ARE AVAILABLE TO THE GENERAL PUBLIC. THE CHAMBER'S BYLAWS, PUBLIC POLICY, STRATEGIC PLAN AND THE BOARD OF DIRECTOR'S LIST ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE.