2024-10-23T16:17:25-05:00 2024-06-30 410746749 CLIFTONLARSONALLEN LLP 20 EAST THOMAS ROAD SUITE 2300 PHOENIX AZ 85012 990 2023-07-01 860539979 GREATER PHOENIX ECONOMIC COUNCIL GREA 6022567700 TWO NORTH CENTRAL AVENUE 2500 PHOENIX AZ 850042389 CHRIS CAMACHO CEO 6022567700 2024-10-17 1 1 JACQUELINE ECKMAN P01300648 6022662248 2024-10-17 2023 2024-10-15 13:58:12Z CHRIS CAMACHO TWO NORTH CENTRAL AVENUE 2500 PHOENIX AZ 850042389 8638924 0 X WWW.GPEC.ORG X 1989 AZ ATTRACT AND GROW QUALITY BUSINESSES AND ADVOCATE FOR GREATER PHOENIX'S COMPETITIVENESS. 83 83 49 83 0 0 5801052 5191985 3207983 3433059 4136 13880 0 0 9013171 8638924 1000000 0 0 0 4718435 5113632 0 0 304088 2650372 3114991 8368807 8228623 644364 410301 7119312 9735425 1958528 4164340 5160784 5571085 THE ORGANIZATION'S MISSION IS TO ATTRACT AND GROW QUALITY BUSINESSES AND ADVOCATE FOR GREATER PHOENIX'S COMPETITIVENESS. 0 0 6730113 3433059 IN FY24, GPEC WORKED WITH ITS STAKEHOLDERS AND MEMBER COMMUNITIES TO ATTRACT 49 COMPANIES TO THE MARKET, ADDING $513.96M IN INCREMENTAL PAYROLL, COMPRISING 7,431 PROJECTED NEW JOBS OF WHICH 3,987 WERE AT AN AVERAGE HIGH-WAGE OF $86,802. GPEC HAD 260 PROSPECTS, OF WHICH 70 WERE INTERNATIONAL. 6730113 1 1 0 1 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 19 0 1 49 1 0 0 0 0 0 1 1 0 0 0 0 X 83 83 1 0 1 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X MAUREEN HOWELL 6022567700 TWO N CENTRAL AVENUE STE 2500 PHOENIX AZ 85004 DAVID ROUSSEAU CHAIR 1.00 0.00 X X 0 0 0 DERRICK HALL VICE CHAIR 1.00 0.00 X X 0 0 0 TAMMY MCLEOD SECRETARY 1.00 0.00 X X 0 0 0 RONALD BUTLER TREASURER 1.00 0.00 X X 0 0 0 ED AARONSON DIRECTOR 1.00 0.00 X 0 0 0 MEGAN ACKAERT DIRECTOR 1.00 0.00 X 0 0 0 DAVID ADAME DIRECTOR (THRU 01/24) 1.00 0.00 X 0 0 0 SUSAN BANSAK DIRECTOR (THRU 04/24) 1.00 0.00 X 0 0 0 JEFF BARTON DIRECTOR 1.00 0.00 X 0 0 0 JASON BECK DIRECTOR 1.00 0.00 X 0 0 0 KYLE BECTON DIRECTOR 1.00 0.00 X 0 0 0 STEVE BETTS DIRECTOR 1.00 0.00 X 0 0 0 CHRIS BRADY DIRECTOR 1.00 0.00 X 0 0 0 TIM BRICKER DIRECTOR 1.00 0.00 X 0 0 0 JARETT BROCK DIRECTOR 1.00 0.00 X 0 0 0 MATHEW BUCHWALD DIRECTOR 1.00 0.00 X 0 0 0 MIKE CANADA DIRECTOR 1.00 0.00 X 0 0 0 EDWARD CARR DIRECTOR 1.00 0.00 X 0 0 0 HEATHER CARTER DIRECTOR 1.00 0.00 X 0 0 0 SONNY CAVE DIRECTOR 1.00 0.00 X 0 0 0 KEN CHAPA DIRECTOR 1.00 0.00 X 0 0 0 WENDY COHEN DIRECTOR 1.00 0.00 X 0 0 0 ANGELA CREEDON DIRECTOR 1.00 0.00 X 0 0 0 RACHAEL CRUMP DIRECTOR 1.00 0.00 X 0 0 0 JAMES CURRIER DIRECTOR 1.00 0.00 X 0 0 0 GABRIELLE FINLEY-HAZLE DIRECTOR (THRU 01/24) 1.00 0.00 X 0 0 0 KATE GALLEGO DIRECTOR 1.00 0.00 X 0 0 0 THOMAS GALVIN DIRECTOR 1.00 0.00 X 0 0 0 DON GARNER DIRECTOR (THRU 01/24) 1.00 0.00 X 0 0 0 BILL GATES DIRECTOR 1.00 0.00 X 0 0 0 TED GEISLER DIRECTOR 1.00 0.00 X 0 0 0 KATHLEEN GOEPPINGER DIRECTOR 1.00 0.00 X 0 0 0 STEVEN GONZALES DIRECTOR (THRU 03/24) 1.00 0.00 X 0 0 0 MAX GONZALES DIRECTOR 1.00 0.00 X 0 0 0 ADAM GOODMAN DIRECTOR 1.00 0.00 X 0 0 0 LINDSAY GORRILL DIRECTOR (THRU 03/24) 1.00 0.00 X 0 0 0 COLIN GOUVEIA DIRECTOR (THRU 01/24) 1.00 0.00 X 0 0 0 JOHN GRAHAM DIRECTOR 1.00 0.00 X 0 0 0 RICHARD GRAY DIRECTOR 1.00 0.00 X 0 0 0 SHARRON GRZYBOWSKI DIRECTOR 1.00 0.00 X 0 0 0 JEFF GULDNER DIRECTOR (THRU 07/23) 1.00 0.00 X 0 0 0 SHARON HARPER DIRECTOR 1.00 0.00 X 0 0 0 KEVIN HARTKE DIRECTOR 1.00 0.00 X 0 0 0 PETER HECK DIRECTOR 1.00 0.00 X 0 0 0 DANIEL HENDRICKSON DIRECTOR 1.00 0.00 X 0 0 0 ALEXIS HERMOSILLO DIRECTOR 1.00 0.00 X 0 0 0 STEPHEN HIGGINS DIRECTOR 1.00 0.00 X 0 0 0 NEIL IRWIN DIRECTOR 1.00 0.00 X 0 0 0 HEIDI JANNENGA DIRECTOR 1.00 0.00 X 0 0 0 SCOTT JENKINS DIRECTOR 1.00 0.00 X 0 0 0 BRETT JOHNSON DIRECTOR 1.00 0.00 X 0 0 0 SHEILA KLOEFKORN DIRECTOR 1.00 0.00 X 0 0 0 CHRIS KOCH DIRECTOR 1.00 0.00 X 0 0 0 ANDRE KUDELSKI DIRECTOR 1.00 0.00 X 0 0 0 ROOP LAKKARAJU DIRECTOR (THRU 04/24) 1.00 0.00 X 0 0 0 TODD LAPORTE DIRECTOR 1.00 0.00 X 0 0 0 MICHAEL LEVAULT DIRECTOR 1.00 0.00 X 0 0 0 JEFF LOWE DIRECTOR 1.00 0.00 X 0 0 0 PAUL LUNA DIRECTOR 1.00 0.00 X 0 0 0 RAM MAYAMPURATH DIRECTOR 1.00 0.00 X 0 0 0 JACK MCCAIN DIRECTOR (THRU 03/24) 1.00 0.00 X 0 0 0 DEA MCDONALD DIRECTOR 1.00 0.00 X 0 0 0 CRAIG MCFARLAND DIRECTOR 1.00 0.00 X 0 0 0 JESSICA MEFFORD-MILLER DIRECTOR 1.00 0.00 X 0 0 0 JAMES MORGADO DIRECTOR (THRU 01/24) 1.00 0.00 X 0 0 0 SALLY MORTON DIRECTOR 1.00 0.00 X 0 0 0 BRIAN MUELLER DIRECTOR 1.00 0.00 X 0 0 0 SCOTT MYERS DIRECTOR 1.00 0.00 X 0 0 0 FRANCIS NAJAFI DIRECTOR 1.00 0.00 X 0 0 0 ERIC ORSBORN DIRECTOR 1.00 0.00 X 0 0 0 NATASCHA OVANDO-KARADSHEH DIRECTOR 1.00 0.00 X 0 0 0 NIPUL PATEL DIRECTOR (THRU 12/23) 1.00 0.00 X 0 0 0 RUI PEREIRA DIRECTOR 1.00 0.00 X 0 0 0 KEVIN PHELPS DIRECTOR 1.00 0.00 X 0 0 0 SCOTT PHILLIPS DIRECTOR 1.00 0.00 X 0 0 0 MIKE PINEDA DIRECTOR 1.00 0.00 X 0 0 0 JOE PIZZILLO DIRECTOR 1.00 0.00 X 0 0 0 CHRISTIAN PRICE DIRECTOR (THRU 09/23) 1.00 0.00 X 0 0 0 PAUL RIVERS DIRECTOR 1.00 0.00 X 0 0 0 ROBERT ROBBINS DIRECTOR (THRU 05/24) 1.00 0.00 X 0 0 0 JUAN RODRIGUEZ DIRECTOR 1.00 0.00 X 0 0 0 MARC SCHMITTLEIN DIRECTOR 1.00 0.00 X 0 0 0 NANCY SMITH DIRECTOR 1.00 0.00 X 0 0 0 KATHRYN SORENSEN DIRECTOR 1.00 0.00 X 0 0 0 SCOTT SPURGEON DIRECTOR 1.00 0.00 X 0 0 0 JIM SWANSON DIRECTOR (THRU 09/23) 1.00 0.00 X 0 0 0 TROY SWOPE DIRECTOR 1.00 0.00 X 0 0 0 CATHY TEETER DIRECTOR 1.00 0.00 X 0 0 0 KEVIN TULIPANA DIRECTOR 1.00 0.00 X 0 0 0 KEN VECCHIONE DIRECTOR 1.00 0.00 X 0 0 0 BRAD VYNALEK DIRECTOR 1.00 0.00 X 0 0 0 CATHLEEN WALKER DIRECTOR 1.00 0.00 X 0 0 0 ANDY WARREN DIRECTOR 1.00 0.00 X 0 0 0 JULIA WHEATLEY DIRECTOR 1.00 0.00 X 0 0 0 COREY WOODS DIRECTOR 1.00 0.00 X 0 0 0 BRAD WRIGHT DIRECTOR 1.00 0.00 X 0 0 0 CHRIS ZAHARIS DIRECTOR 1.00 0.00 X 0 0 0 JENNIFER ZONNEVELD DIRECTOR 1.00 0.00 X 0 0 0 CHRIS CAMACHO PRESIDENT & CEO 40.00 1.00 X 657485 0 95349 BRAD SMIDT SVP BUSINESS DEVELOPMENT 40.00 0.00 X 195102 0 16206 THOMAS MAYNARD SVP BUSINESS DEVELOPMENT 40.00 0.00 X 177832 0 11570 KATHLEEN LEE SVP, REGIONAL INITIATIVES 40.00 0.00 X 168623 0 11017 MAUREEN HOWELL CHIEF OF STAFF 40.00 0.00 X 153611 0 10117 SEAN FOGARTY VP BUSINESS DEVELOPMENT 40.00 0.00 X 149133 0 9848 1501786 0 154107 16 0 1 0 0 171266 5020719 99869 5191985 SPECIAL PROGRAM EVENTS 900099 2939629 2939629 CONTRACT SERVICES 900099 493430 493430 3433059 13880 13880 8638924 3433059 0 13880 673635 404181 134727 134727 3598025 2755845 672819 169361 211380 176189 35191 354118 293859 60259 276474 229383 47091 43657 43657 26269 26269 39000 39000 433381 407552 25829 214642 214642 100286 84086 16200 238131 199132 38999 301697 283100 18597 39953 39953 912633 912633 202842 145139 57703 32428 23142 9286 DUES AND SUBSCRIPTIONS 327956 323503 4453 MEMBER EVENTS 193774 193774 BAD DEBT EXPENSE 5000 5000 OTHER EXPENSES 3342 3342 8228623 6730113 1194422 304088 4279377 4575333 881692 1508086 274393 135000 449950 245646 193103 296544 2104141 1866807 387700 237334 653097 2737482 7119312 9735425 1002193 1183871 11500 956335 2968969 1958528 4164340 X 5154784 5548446 6000 22639 5160784 5571085 7119312 9735425 410301 0 X X 0 1 X 1 0 X 6881236 4377375 4351783 5801052 5191985 26603431 6881236 4377375 4351783 5801052 5191985 26603431 1242051 25361380 725 1355 628 4136 13880 20724 26624155 12763619 0.95260 0.94740 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 39000 39000 6691113 6730113 486506 121627 0 0 452474 457423 500900 486506 1897303 2845955 36000 33000 36025 39000 144025 113119 114356 125225 121627 474327 711491 1203815 1041143 162672 862835 788173 74662 37491 37491 0 237334 RIGHT OF USE LEASE ASSETS - FINANCING 31592 RIGHT OF USE LEASE ASSETS - OPERATING 2705890 2737482 REFUNDABLE ADVANCES 35000 FINANCE LEASE LIABILITY 34202 OPERATING LEASE LIABILITY 2899767 2968969 X 8751764 112840 112840 8638924 0 8638924 8341463 112840 112840 8228623 0 8228623 PART X, LINE 2: GPEC QUALIFIES AS A TAX-EXEMPT ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND THEREFORE, THERE IS NO PROVISION FOR FEDERAL OR STATE CORPORATE INCOME TAXES. MANAGEMENT OF THE ORGANIZATION DOES NOT BELIEVE THAT ANY UNCERTAIN TAX POSITIONS EXIST AS OF JUNE 30, 2024 AND 2023. X 1 1 X X X X 0 0 0 0 0 1 0 0 0 CHRIS CAMACHO PRESIDENT & CEO 428211 0 223000 0 6274 0 94449 0 900 0 752834 0 0 0 BRAD SMIDT SVP BUSINESS DEVELOPMENT 170328 0 24774 0 0 0 11706 0 4500 0 211308 0 0 0 THOMAS MAYNARD SVP BUSINESS DEVELOPMENT 154709 0 23123 0 0 0 10670 0 900 0 189402 0 0 0 KATHLEEN LEE SVP, REGIONAL INITIATIVES 144482 0 24141 0 0 0 10117 0 900 0 179640 0 0 0 MAUREEN HOWELL CHIEF OF STAFF 131476 0 22135 0 0 0 9217 0 900 0 163728 0 0 0 SEAN FOGARTY VP BUSINESS DEVELOPMENT 132421 0 16712 0 0 0 8948 0 900 0 158981 0 0 0 PART I, LINE 1A GPEC PAYS FOR A HEALTH CLUB MEMBERSHIP MONTHLY AND EVERY EMPLOYEE OF GPEC IS ELIGIBLE TO USE THIS MEMBERSHIP. PART I, LINE 6 ALL EMPLOYEES EXCEPT FOR THE INTERNS CAN EARN A BONUS BASED ON THE PERFORMANCE OF THE COMPANY, THEIR TEAM, AND INDIVIDUAL ACCOMPLISHMENTS. COMPANY METRICS ARE REVIEWED AND APPROVED BY THE PERFORMANCE COMMITTEE AND EXECUTIVE COMMITTEE OF THE BOARD. X TICKETS 3 55675 FMV X CATERING 3 21691 FMV X SUPPLIES 1 16503 FMV X TRAVEL VOUCHERS 1 6000 FMV 0 0 0 0 PART I, COLUMN (B): COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE OF THE BOARD SHALL CONSIST OF THE NUMBER OF MEMBERS ESTABLISHED BY THE BYLAWS AND SELECTED AT THE ANNUAL MEETING ACCORDING TO THE BYLAWS. 1) THE CHAIRPERSON OF THE BOARD SHALL BE A MEMBER OF THE EXECUTIVE COMMITTEE AND THE CHAIRPERSON OF THE EXECUTIVE COMMITTEE, 2) THE IMMEDIATE PAST CHAIRPERSON OF THE BOARD SHALL BE A MEMBER OF THE EXECUTIVE COMMITTEE, 3) ALL MEMBER OF THE EXECUTIVE COMMITTEE MUST BE ELECTED FROM AMONG THE DIRECTORS TO THE BOARD. 4) THE CHIEF EXECUTIVE OFFICER SHALL SERVE AS AN ADVISORY MEMBER OF THE EXECUTIVE COMMITTEE WITHOUT VOTE. THE CHIEF EXECUTIVE OFFICER SHALL RECEIVE NOTICE OF, AND BE ENTITLED TO ATTEND EACH MEETING OF THE EXECUTIVE COMMITTEE. 5) NOTWITHSTANDING ANYTHING SET FORTH HEREIN, NO MEMBER OF THE EXECUTIVE COMMITTEE SHALL BE AN ELECTED PUBLIC OFFICIAL. IN THE INTERIM BETWEEN BOARD MEETINGS, THE EXECUTIVE COMMITTEE SHALL SUPERVISE AND MANAGE THE CORPORATION'S BUSINESS AND AFFAIRS AND SHALL EXERCISE THE AUTHORITY OF THE BOARD, INCLUDING HAVING THE POWER TO APPOINT AN INTERIM CHIEF EXECUTIVE OFFICER/PRESIDENT IN THE EVENT OF A VACANCY IN SUCH OFFICE, SUBJECT, HOWEVER, TO ANY LIMITATIONS SPECIFIED BY THE ARTICLES, THESE BYLAWS, EXPRESS BOARD RESOLUTIONS TO THE CONTRARY, AND APPLICABLE LAW. THE EXECUTIVE COMMITTEE SHALL NOT POSSESS ANY AUTHORITY OF THE BOARD PROHIBITED TO IT BY LAW AND MAY NOT FILL ANY VACANCY ON THE BOARD OR ANY COMMITTEE OF THE BOARD, ADOPT AMENDMENTS TO THE ARTICLES OR THESE BYLAWS, OR FIX COMPENSATION FOR THE DIRECTORS. FORM 990, PART VI, SECTION A, LINE 2 BOARD OF DIRECTORS ARE ENGAGED IN BUSINESSES RELATED TO AND COMPATIBLE WITH ONE ANOTHER. AS SUCH THEY ARE FREQUENTLY IN THE POSITION TO PROCURE GOODS AND SERVICES FROM EACH OTHER IN THE DAILY OPERATION OF THEIR BUSINESSES. THERE ARE MULTIPLE BOARD MEMBERS WHO WORK FOR THE SAME ENTITY. FORM 990, PART VI, SECTION A, LINE 4 AS PERMITTED BY SECTION 7 OF THE NINTH AMENDED AND RESTATED BYLAWS, THE BOARD OF DIRECTORS AMENDED AND RESTATED THE BYLAWS TO ADD TWO ADDITIONAL DIRECTORS SEATS ALLOCATED TO PINAL COUNTY TO REFLECT THAT PINAL RECENTLY JOINED GPEC AS A COMMUNITY MEMBER. UPDATES THROUGHOUT THE BYLAWS WERE MADE TO REFLECT PINAL COUNTY'S INVOLVEMENT IN THE GPEC BOARD AND FINANCIAL CONTRIBUTION TO THE ORGANIZATION. IN ADDITION, VARIOUS LANGUAGE UPDATES WERE MADE THROUGHOUT THE DOCUMENT TO ALIGN WITH STATE AND FEDERAL NON-PROFIT REQUIREMENTS AND TO PROVIDE CLARITY AROUND BOARD REQUIREMENTS AND PROCESSES. FORM 990, PART VI, SECTION A, LINE 7A ALL DIRECTORS SHALL BE NOMINATED OR APPOINTED IN THE MANNER AND BY THE INDIVIDUALS OR ENTITIES LISTED. ANY INDIVIDUAL EMPOWERED BY THESE BYLAWS TO NOMINATE OR APPOINT ONE OR MORE MEMBERS OF THE BOARD MAY NOMINATE OR APPOINT HIMSELF OR HERSELF TO THE BOARD, MAY NOMINATE ONE OF ITS OWN MEMBERS, OR MAY APPOINT ONE OF ITS OWN MEMBERS. THE CHIEF EXECUTIVE OFFICER OF THE CORPORATION SHALL BE AN EX OFFICIO DIRECTOR, BUT SHALL NOT BE ENTITLED TO VOTE. COMMUNITY REPRESENTATIVES: EACH CITY OR TOWN IS ENTITLED TO THAT NUMBER OF REPRESENTATIVES FOR THE BOARD AS SET FORTH IN THE BYLAWS, PROVIDED THAT A CITY OR TOWN ENTITLED TO REPRESENTATION ON THE BOARD SHALL CEASE TO BE SO ENTITLED IF SUCH CITY OR TOWN FAILS TO MAKE ITS ANNUAL CONTRIBUTION, OR ANY INSTALLMENT THEREOF, AND PROVIDED THAT THE BOARD SHALL REDUCE THE NUMBER OF DIRECTORS REPRESENTING MARICOPA COUNTY, ARIZONA AND PINAL COUNTY, ARIZONA IF THE BOARD OF SUPERVISORS OF MARICOPA COUNTY AND PINAL COUNTY FAIL TO MAKE THEIR ANNUAL CONTRIBUTIONS OR INSTALLMENTS THEREOF. A MAYOR OF ANY CITY OR TOWN EMPOWERED BY THESE BYLAWS TO NOMINATE ONE OR MORE MEMBERS OF THE BOARD MAY NOMINATE AN ELECTED OFFICIAL TO SERVE ON THE BOARD. TO THE EXTENT THAT THE MAYOR OF A CITY OR TOWN IS ENTITLED TO NOMINATE MORE THAN ONE DIRECTOR, SUCH ADDITIONAL DIRECTORS SHALL NOT BE ELECTED OFFICIALS. THE MAYOR OF A CITY OR TOWN SHALL SUBMIT THE NUMBER OF PROSPECTIVE CANDIDATES PER APPOINTMENT, AS DETERMINED BY THE EXECUTIVE COMMITTEE, SATISFYING THE GUIDELINES SET FORTH IN THESE BYLAWS TO THE NOMINATING COMMITTEE OF THE CORPORATION. APPOINTED DIRECTORS: EACH ENTITY LISTED IS AUTHORIZED TO APPOINT THE NUMBER OF DIRECTORS INDICATED FOR THAT ENTITY. AT-LARGE DIRECTORS: THE BOARD SHALL ELECT AT-LARGE DIRECTORS FROM AMONG PERSONS NOMINATED BY THE NOMINATING COMMITTEE, AND PURSUANT TO ELECTION PROCEDURES DETERMINED BY THE NOMINATING COMMITTEE. THE NOMINATING COMMITTEE SHALL NOMINATE INDIVIDUALS PURSUANT TO THE GUIDELINES SET FORTH IN THE BYLAWS. RESTRICTED AT-LARGE DIRECTORS: UP TO FIVE ADDITIONAL AT-LARGE DIRECTORS MAY BE APPOINTED UPON RECOMMENDATION OF THE CHIEF EXECUTIVE OFFICER AND APPROVAL BY THE EXECUTIVE COMMITTEE BASED UPON SUCH INDIVIDUALS' EXPECTED ABILITY TO POSITIVELY IMPACT THE CORPORATION'S PERFORMANCE. FORM 990, PART VI, SECTION B, LINE 11B THE CONTROLLER, VP OF HUMAN RESOURCES, CHIEF OF STAFF, AND CEO WILL REVIEW THE DRAFT FORM 990. THE AUDIT COMMITTEE WILL REVIEW AND RECOMMEND APPROVAL FOR FILING TO THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS WILL REVIEW AND APPROVE BEFORE FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD MEMBERS ARE REQUIRED TO UPDATE THE CONFLICT OF INTEREST STATEMENT ANNUALLY. CONFLICTS OF INTEREST ARE TO BE AVOIDED WITH ANY RELATED PARTY EXCEPT TRANSACTIONS IN ACCORDANCE WITH SCHEDULE L THRESHOLDS AND THOSE TRANSACTIONS DEFINED AS NORMAL BUSINESS ACTIVITY. IN THE EVENT OF A CONFLICT THE EXECUTIVE COMMITTEE OF THE BOARD WILL DISCUSS THE FINANCIAL INTEREST WITH THE RELATED PARTY EXCUSED FROM THE MEETING DURING THE DISCUSSION AND VOTING. THE EXECUTIVE COMMITTEE OF THE BOARD WILL DISCUSS IF A MORE ADVANTAGEOUS TRANSACTION IS AVAILABLE. A VOTE WILL BE COLLECTED ON APPROVING THE TRANSACTION WITH THE RELATED PARTY EXCLUDED FROM VOTING. ALL SUCH PROCEDURES AND REQUIREMENTS, AND ALL DISCLOSURES MADE THEREUNDER, SHALL BE KEPT ON FILE AND SHALL BE AVAILABLE FOR INSPECTION BY THE PUBLIC. FORM 990, PART VI, SECTION B, LINE 15 COMPARATIVE DATA FROM LIKE ORGANIZATIONS IS OBTAINED AND REVIEWED. IN ADDITION TO BASE SALARY AND PREREQUISITES, BONUS PERFORMANCE CRITERIA IS ESTABLISHED AND REVIEWED DURING AND AT THE END OF EACH YEAR. THE PERFORMANCE AND EXECUTIVE COMMITTEE APPROVE THE BONUS CALCULATIONS ANNUALLY AND THE CEO COMPENSATION CONTRACT WHEN NECESSARY. THE MINUTES OF THE MEETINGS OF THE BOARD SHALL SET FORTH THE COMPENSATION OF THE OFFICERS OR THE METHOD OF FIXING THE COMPENSATION OF THE OFFICERS. THIS WAS LAST PERFORMED IN FISCAL 2024. THE PROCESS IS SIMILAR FOR SENIOR MANAGEMENT. ALL COMPENSATION IS APPROVED BY THE CEO AND THE BONUS METRICS ARE REVIEWED AND APPROVED BY THE PERFORMANCE COMMITTEE AND THE EXECUTIVE COMMITTEE. THIS WAS LAST PERFORMED IN FISCAL 2024. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PAGE 12, PART XII, LINE 2C: GREATER PHOENIX ECONOMIC COUNCIL HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE OVERSIGHT PROCESS OR THE SELECTION PROCESS HAS NOT CHANGED DURING THE TAX YEAR. PARTNERSHIP FOR ECONOMIC INNOVATION 1475 N SCOTTSDALE RD STE 200 SCOTTSDALE AZ 85257 474623504 ECONOMIC ACTIVITY AZ 501(C)(3) LINE 7 N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 PARTNERSHIP FOR ECONOMIC INNOVATION P 94000