2021-09-21T15:54:16-05:00 2021-06-30 410746749 CLIFTONLARSONALLEN LLP 20 EAST THOMAS ROAD SUITE 2300 PHOENIX AZ 85012 990 2020-07-01 860539979 GREATER PHOENIX ECONOMIC COUNCIL GREA 6022567700 TWO NORTH CENTRAL AVENUE NO 2500 PHOENIX AZ 850042389 CHRIS CAMACHO CEO 6022567700 2021-09-20 1 CHRIS CAMACHO 999009999 JACQUELINE ECKMAN P01300648 6022662248 2021-09-20 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z CHRIS CAMACHO TWO NORTH CENTRAL AVENUE NO 2500 PHOENIX AZ 850042389 7256157 0 X WWW.GPEC.ORG X 1989 AZ ATTRACT AND GROW QUALITY BUSINESSES AND ADVOCATE FOR GREATER PHOENIX'S COMPETITIVENESS. 79 79 40 91 0 0 6881236 4377375 83069 2877427 725 1355 0 0 6965030 7256157 0 0 0 0 3806641 4078944 0 0 208696 3002661 2179222 6809302 6258166 155728 997991 5472151 5751370 2142692 1425124 3329459 4326246 THE ORGANIZATION'S MISSION IS TO ATTRACT AND GROW QUALITY BUSINESSES AND ADVOCATE FOR GREATER PHOENIX'S COMPETITIVENESS. 0 0 5047152 2877427 DURING FY21, GPEC WORKED WITH ITS STAKEHOLDERS AND MEMBER COMMUNITIES TO ATTRACT 45 COMPANIES TO THE MARKET, ADDING $594.91 M IN INCREMENTAL PAYROLL, COMPRISING 9,928 PROJECTED NEW JOBS, OF WHICH 5,470 WERE AT AN AVERAGE HIGH-WAGE SALARY OF $77,256. GPEC HAD 277 PROSPECTS, 58 OF WHICH WERE INTERNATIONAL COMPANIES. 5047152 1 1 0 1 0 0 0 0 0 0 1 0 0 0 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 11 0 40 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 79 79 1 0 1 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X BRANDY REINKE 6022567700 2 N CENTRAL AVENUE STE 2500 PHOENIX AZ 85004 JEFF GULDNER CHAIR 1.00 X X 0 0 0 KARRIN ROBSON TAYLOR VICE CHAIR 1.00 X X 0 0 0 R NEIL IRWIN TREASURER 1.00 X X 0 0 0 DAVID ROUSSEAU SECRETARY 1.00 X X 0 0 0 BRETT JOHNSON LEGAL COUNSEL 1.00 X 0 0 0 DAVID ADAME DIRECTOR 1.00 X 0 0 0 ADAM GOODMAN DIRECTOR 1.00 X 0 0 0 ALEXIS HERMOSILLO DIRECTOR 1.00 X 0 0 0 ANDRE KUDELSKI DIRECTOR 1.00 X 0 0 0 ANNA TOVER DIRECTOR 1.00 X 0 0 0 BENNETT DORRANCE DIRECTOR 1.00 X 0 0 0 BRAD PARKER DIRECTOR 1.00 X 0 0 0 BRAD VYNALEK DIRECTOR 1.00 X 0 0 0 BRADLEY WRIGHT DIRECTOR 1.00 X 0 0 0 BRIAN MUELLER DIRECTOR 1.00 X 0 0 0 BRUCE HOECHNER DIRECTOR 1.00 X 0 0 0 CARSON BROWN DIRECTOR 1.00 X 0 0 0 CATHY CARLAT DIRECTOR 1.00 X 0 0 0 CATHY TEETER DIRECTOR 1.00 X 0 0 0 CHET KEIZER DIRECTOR 1.00 X 0 0 0 CHRIS BRADY DIRECTOR 1.00 X 0 0 0 CHRIS KOCH DIRECTOR 1.00 X 0 0 0 CHRISTIAN PRICE DIRECTOR 1.00 X 0 0 0 COREY WOODS DIRECTOR 1.00 X 0 0 0 CRAIG MCFARLAND DIRECTOR 1.00 X 0 0 0 DANIEL HENDRICKSON DIRECTOR 1.00 X 0 0 0 DAVID ROUSSEAU DIRECTOR 1.00 1.00 X 0 0 0 DERRICK HALL DIRECTOR 1.00 X 0 0 0 DON GARNER DIRECTOR 1.00 X 0 0 0 ED AARONSON DIRECTOR 1.00 X 0 0 0 ED ZUERCHER DIRECTOR 1.00 X 0 0 0 FRANCIS NAJAFI DIRECTOR 1.00 X 0 0 0 GEORGIA LORD DIRECTOR 1.00 X 0 0 0 HEIDI JANNENGA DIRECTOR 1.00 X 0 0 0 ISRAEL TORRES DIRECTOR 1.00 X 0 0 0 JACK MCCAIN DIRECTOR 1.00 X 0 0 0 JACKIE MECK DIRECTOR 1.00 X 0 0 0 JEFF LOWE DIRECTOR 1.00 X 0 0 0 JEFF PITCHER DIRECTOR 1.00 X 0 0 0 JENNIFER ANDERSON DIRECTOR 1.00 X 0 0 0 JIM SWANSON DIRECTOR 1.00 X 0 0 0 JOHN BRADLEY DIRECTOR 1.00 X 0 0 0 JOHN GRAHAM DIRECTOR 1.00 1.00 X 0 0 0 KATE GALLEGO DIRECTOR 1.00 X 0 0 0 KATHLEEN GOEPPINGER DIRECTOR 1.00 X 0 0 0 KELLY PATTON DIRECTOR 1.00 X 0 0 0 KENN WEISE DIRECTOR 1.00 X 0 0 0 KEVIN HARTKE DIRECTOR 1.00 X 0 0 0 KEVIN PHELPS DIRECTOR 1.00 X 0 0 0 KYLE BECTON DIRECTOR 1.00 X 0 0 0 LINDA HUNT DIRECTOR 1.00 X 0 0 0 MARC SCHMITTLEIN DIRECTOR 1.00 X 0 0 0 MARK STEBBINGS DIRECTOR 1.00 X 0 0 0 MATT EVEN DIRECTOR 1.00 X 0 0 0 MATT SALMON DIRECTOR 1.00 1.00 X 0 0 0 MICHAEL LEVAULT DIRECTOR 1.00 X 0 0 0 MICHAEL M CROW DIRECTOR 1.00 X 0 0 0 MIKE MADSEN DIRECTOR 1.00 X 0 0 0 NORMAN BUTLER DIRECTOR 1.00 X 0 0 0 PAUL LUNA DIRECTOR 1.00 1.00 X 0 0 0 RICHARD GRAY DIRECTOR 1.00 X 0 0 0 ROBERT ROBBINS DIRECTOR 1.00 X 0 0 0 RONALD BUTLER DIRECTOR 1.00 X 0 0 0 ROOP LAKKARAJU DIRECTOR 1.00 X 0 0 0 RUI PEREIRA DIRECTOR 1.00 X 0 0 0 SCOTT PHILLIPS DIRECTOR 1.00 X 0 0 0 SCOTT SMITH DIRECTOR 1.00 X 0 0 0 SHARON GRZYBOWSKI DIRECTOR 1.00 X 0 0 0 SHARON HARPER DIRECTOR 1.00 X 0 0 0 STEPHEN T HIGGINS DIRECTOR 1.00 X 0 0 0 STEVE BETTS DIRECTOR 1.00 X 0 0 0 STEVE CHUCRI DIRECTOR 1.00 X 0 0 0 STEVEN GONZALES DIRECTOR 1.00 X 0 0 0 TAMMY MCLEOD DIRECTOR 1.00 X 0 0 0 THOMAS DOYLE DIRECTOR 1.00 X 0 0 0 WENDY BREUDER DIRECTOR 1.00 X 0 0 0 CHRIS ZAHARIS DIRECTOR 1.00 1.00 X 0 0 0 ANDY WARREN DIRECTOR 1.00 X 0 0 0 BILL GATES DIRECTOR 1.00 X 0 0 0 STEVE DODENHOFF DIRECTOR (RESIGNED SEPTEMBER 2020) 1.00 X 0 0 0 MEGAN ACKAERT DIRECTOR (RESIGNED SEPTEMBER 2020) 1.00 X 0 0 0 MARK MITCHELL DIRECTOR (RESIGNED JULY 2020) 1.00 X 0 0 0 JENN DANIELS DIRECTOR (RESIGNED AUGUST 2020) 1.00 X 0 0 0 JEFF STRUBLE DIRECTOR (RESIGNED AUGUST 2020) 1.00 X 0 0 0 GLENN LEIER DIRECTOR (RESIGNED SEPTEMBER 2020) 1.00 X 0 0 0 ERIC ORSBORN DIRECTOR (RESIGNED AUGUST 2020) 1.00 X 0 0 0 DOREEN COTT DIRECTOR (RESIGNED SEPTEMBER 2020) 1.00 X 0 0 0 DANIEL SEIDEN DIRECTOR (RESIGNED NOVEMBER 2020) 1.00 X 0 0 0 DAN OLSON DIRECTOR (RESIGNED AUGUST 2020) 1.00 X 0 0 0 CHRIS DENZIN DIRECTOR (RESIGNED SEPTEMBER 2020) 1.00 X 0 0 0 ALAN MAGAZINE DIRECTOR (RESIGNED SEPTEMBER 2020) 1.00 X 0 0 0 CHRIS CAMACHO PRESIDENT/CEO 40.00 1.00 X 513116 0 50404 SHARON HWANG COO (RESIGNED APRIL 2021) 40.00 X 223825 0 21291 BRAD SMIDT SVP BUSINESS DEVELOPMENT 40.00 X 180034 0 22205 COLLEEN SCHWAB SVP, MARKETING & COMMUNICATIONS 40.00 X 164396 0 17230 STEPHANE FRIJIA SVP STRATEGY AND RESEARCH 40.00 X 159205 0 25661 KATHLEEN LEE SVP, REGIONAL INITIATIVES 40.00 X 154140 0 13782 MITCHEL ALLEN-RIVERA VP BUSINESS DEVELOPMENT 40.00 X 149351 0 15667 1544067 0 166240 7 0 1 0 PHOENIX TWO RS LLC PO BOX 845864 LOS ANGELES CA 90084 LANDLORD FOR OFFICE SPACE 377315 1 889871 3487504 29754 4377375 CONTRACT SERVICES 900099 2842427 2842427 SPECIAL PROGRAM EVENTS 900099 35000 35000 2877427 1355 1355 7256157 2877427 0 1355 732602 439177 168176 125249 2743781 2144543 538881 60357 100740 81945 17988 807 274004 210394 52718 10892 227817 170863 45563 11391 7329 7329 14375 14375 36000 36000 473779 473779 216214 216214 78154 57846 20308 142479 105935 36544 280976 262441 18535 27786 27786 321555 320982 573 201434 134289 67145 12362 8241 4121 DUES AND SUBSCRIPTIONS 367495 357433 10062 MISCELLANEOUS -716 -716 6258166 5047152 1002318 208696 2640465 2950839 881163 881343 446448 281187 577460 797337 101503 163230 1983145 1305711 825112 677434 5472151 5751370 839838 845883 87500 554900 660454 579241 2142692 1425124 X 2883011 4045059 446448 281187 3329459 4326246 5472151 5751370 X 997991 -1204 X X 0 1 X 1 0 X 5534643 5645392 5947798 6881236 4377375 28386444 5534643 5645392 5947798 6881236 4377375 28386444 551876 27834568 34605 1446 1441 725 1355 39572 375601 418621 381287 1175509 29601525 3342874 0.94030 0.94470 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: PEI EMPLOYEE LEASING - 2016 AMOUNT: $ 375,601. 2017 AMOUNT: $ 418,621. 2018 AMOUNT: $ 381,287. 2019 AMOUNT: $ 0. 2020 AMOUNT: $ 0. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 36000 36000 6013470 6049470 452474 113119 0 0 435981 470200 479134 452474 1837789 2756684 36000 36000 36000 36000 144000 108995 117550 119784 113119 459448 689172 1203815 591267 612548 741839 677916 63923 37491 36528 963 677434 DEFERRED RENT 504651 REFUNDABLE ADVANCES 74590 579241 X 7308199 52042 52042 7256157 0 7256157 6311412 52042 1204 53246 6258166 0 6258166 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, 2021 AND 2020. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXCHANGE LOSS 272. BAD DEBT EXPENSE 932. X 1 1 X X X X 0 0 0 0 0 1 0 0 0 CHRIS CAMACHO PRESIDENT/CEO 395850 0 106359 0 10907 0 42100 0 8304 0 563520 0 0 0 SHARON HWANG COO (RESIGNED APRIL 2021) 184492 0 31136 0 8197 0 10875 0 10416 0 245116 0 0 0 BRAD SMIDT SVP BUSINESS DEVELOPMENT 152702 0 19135 0 8197 0 10398 0 11807 0 202239 0 0 0 STEPHANE FRIJIA SVP STRATEGY AND RESEARCH 130988 0 27220 0 997 0 9658 0 16003 0 184866 0 0 0 COLLEEN SCHWAB SVP, MARKETING & COMMUNICATIONS 140253 0 23146 0 997 0 9489 0 7741 0 181626 0 0 0 KATHLEEN LEE SVP, REGIONAL INITIATIVES 133264 0 19879 0 997 0 6052 0 7730 0 167922 0 0 0 MITCHEL ALLEN-RIVERA VP BUSINESS DEVELOPMENT 123003 0 18150 0 8198 0 8589 0 7078 0 165018 0 0 0 PART I, LINE 1A GPEC PAID FOR HEALTH CLUB 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 25 17100 FMV X SUPPLIES 123 7721 FMV X CATERING 1 4933 FMV 0 0 0 0 PART I, COLUMN (B): COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTIONS FORM 990, PART VI, SECTION A, LINE 1 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. FORM 990, PART VI, SECTION A, LINE 4 THE ORGANIZATION UPDATED ITS BYLAWS EFFECTIVE SEPTEMBER 17, 2020. THE UPDATES INCLUDE THE FOLLOWING: THE EXECUTIVE COMMITTEE MAY APPOINT LEGAL COUNSEL. THE LEGAL COUNSEL SHALL SERVE AT THE PLEASURE OF THE EXECUTIVE COMMITTEE. THE LEGAL COUNSEL SHALL ADVISE THE CORPORATION, ITS OFFICERS, BOARDS, COMMITTEES AND OTHER ENTITIES OF THE CORPORATION RELATIVE TO LEGAL MATTERS. UNLESS OTHERWISE APPOINTED AS A DIRECTOR, THE LEGAL COUNSEL SHALL BE A NON-VOTING MEMBER OF THE BOARD OF DIRECTORS AND EXECUTIVE COMMITTEE AND SHALL NOT BE COUNTED FOR THE PURPOSE OF CONSTITUTING A QUORUM. THE CORPORATION'S LEGAL COUNSEL SHALL SERVE AS AN EX OFFICIO MEMBER OF THE EXECUTIVE COMMITTEE WITHOUT VOTE AND SHALL NOT BE COUNTED FOR THE PURPOSE OF CONSTITUTING A QUORUM OF THE EXECUTIVE COMMITTEE UNLESS OTHERWISE APPOINTED AS A MEMBER OF THE EXECUTIVE COMMITTEE. THE LEGAL COUNSEL SHALL RECEIVE NOTICE OF, AND BE ENTITLED TO ATTEND EACH MEETING OF THE EXECUTIVE COMMITTEE. 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 IF THE BOARD OF SUPERVISORS OF MARICOPA COUNTY FAILS TO MAKE ITS ANNUAL CONTRIBUTION OR INSTALLMENT 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. LAST PERFORMED 2019. 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. LAST PERFORMED 2018. 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. 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. 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, PART XI, LINE 9: EXCHANGE LOSS -272. BAD DEBT EXPENSE -932. 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