2021-04-12T16:32:00-05:00 2020-09-30 410746749 CLIFTONLARSONALLEN LLP 420 SOUTH ORANGE AVENUE SUITE 500 ORLANDO FL 32801 990 2019-10-01 592946685 ECONOMIC DEVELOPMENT COMMISSION OF FLORIDA'S SPACE COAST INC ECON 3216382000 6525 3RD STREET NO 304 ROCKLEDGE FL 32955 LYNDA WEATHERMAN PRESIDENT & CEO 3216382000 2021-04-07 1 AMY K CHAPMAN CPA P00843460 4078021200 2021-04-07 2019 2022-09-23 18:48:47Z LYNDA WEATHERMAN 6525 3RD STREET NO 304 ROCKLEDGE FL 32955 2375754 0 X WWW.SPACECOASTEDC.ORG X 1989 FL TO PROMOTE AND FOSTER ECONOMIC AND INDUSTRIAL DEVELOPMENT IN BREVARD COUNTY, FLORIDA. 124 124 15 160 0 0 3090160 2297908 71089 73124 5503 1080 2332 747 3169084 2372859 0 0 0 0 1422548 1334920 0 0 0 1661741 1008247 3084289 2343167 84795 29692 2120757 2092706 661378 632760 1459379 1459946 X TO PROMOTE AND FOSTER ECONOMIC AND INDUSTRIAL DEVELOPMENT IN BREVARD COUNTY, FLORIDA BY PROMOTING AND IMPLEMENTING ECONOMIC PROGRAMS DESIGNED TO BOTH STRENGTHEN AND EXPAND INCOME POTENTIAL OF ALL BUSINESSES WITHIN THE TRADE AREA. 0 0 THE ECONOMIC DEVELOPMENT COMMISSION OF FLORIDA'S SPACE COAST IS AN INNOVATIVE, COUNTYWIDE, NOT-FOR-PROFIT WORKING CLOSELY WITH THE SPACE COAST BUSINESS COMMUNITY, BUSINESS LEADERS, CHAMBERS OF COMMERCE, LOCAL AND STATE GOVERNMENT LEADERS, AND COMMUNITY ORGANIZATIONS. THE EDC IS DEDICATED TO ATTRACTING NEW BUSINESS AND INVESTMENT AND EXPANDING EXISTING INDUSTRY THROUGHOUT THE SPACE COAST, ADVOCATING FOR POSITIVE BUSINESS POLICIES, PROMOTING THE SPACE COAST TO ENCOURAGE NEW BUSINESS INVESTMENT, SUPPORTING EFFORTS OF SPACE COAST MILITARY INSTALLATIONS, AND DEVELOPING PROGRAMS TO ASSIST MANUFACTURING AND HIGH TECH COMPANIES. (CONTINUED ON SCHEDULE O)THE EDC GUIDES ITS PROGRAM OF WORK WITHIN THREE PRIMARY STRATEGIC PRIORITIES: 1. MAINTAIN A TARGETED INDUSTRY FOCUS CONCENTRATING EFFORTS ON FIVE KEY INDUSTRIES THAT SERVE AS CORE DRIVERS OF ECONOMY: AEROSPACE AND AVIATION, ADVANCED COMMUNICATIONS, ELECTRONICS, HOMELAND SECURITY AND DEFENSE, AND EMERGING TECHNOLOGIES. 2. ADVOCATE FOR A COMPETITIVE BUSINESS ENVIRONMENT3. ENGAGE COMMUNITY LEADERS AND ELECTED OFFICIALS, ENABLING THESE LEADERS TO SERVE AS ECONOMIC DEVELOPMENT ADVOCATES THROUGHOUT THE COMMUNITY. ALONGSIDE JOB GROWTH, THE EDC CONTINUES TO FOSTER THE CONDITIONS AND COALITIONS THAT LEAD TO OPPORTUNITIES FOR BUSINESS TO EXPAND AND OBTAIN QUALIFIED WORKFORCE. THESE PROGRAMS INCLUDE:G.O. CONTRACTS CONNECTS BUSINESS TO AN ENHANCED GOVERNMENT CONTRACTING DATABASE FOCUSED ON CUSTOMIZED CONTENT AND OPPORTUNITIES. SINCE ITS INCEPTION IN 2013, COMPANIES PARTICIPATING IN THE PROGRAM HAVE BEEN AWARDED 109 CONTRACTS TOTALING MORE THAN $67 MILLION IN VALUE.THE CERTIFIED PRODUCTION TECHNICIAN PROGRAM, MOST COMMONLY KNOWN AS THE CPT PROGRAM, CONTINUES TO GROW, AS THE EDC BUILDS THE NEXT GENERATION OF BREVARD'S MANUFACTURING WORKFORCE. THIS COURSE CONTINUES TO NOT ONLY PROVIDE TRAINING, IT ALSO PROVIDES WORKFORCE-READY SKILLS WITH 88% OF CPT CERTIFIED STUDENTS SECURING EMPLOYMENT. THE PROGRAM HAS GROWN TO INCLUDE CAREER EXPOSURE TOURS, HR AND INTERVIEW SKILLS SESSIONS, AND PRIVATE JOB FAIRS.THE EDC LIVE BIG SPACE COAST CAMPAIGN ATTRACTS TOP TALENT TO SUPPORT THE WORKFORCE PIPELINE NEEDS OF LOCAL INDUSTRY.THIS PAST YEAR THE EDC TEAM MANAGED 28 NEW BUSINESS PROJECTS AND 47 NEW CLIENT LEADS. THE SPACE COAST IS RANKED AS THE #1 MOST INDUSTRY DIVERSIFIED ECONOMY IN FLORIDA. THIS REFLECTS THE EDC'S BUSINESS ATTRACTION EFFORTS TO DIVERSIFY OUR INDUSTRY BASE, PROVIDING ADDITIONAL AVENUES OF EMPLOYMENT AND LONG-TERM DURABILITY FOR BREVARD'S ECONOMY. 0 1 0 1 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 23 0 15 1 0 0 0 0 1 1 0 0 0 X 124 124 0 0 0 0 1 1 0 1 1 0 0 0 1 1 1 1 1 1 0 0 X TRUDY MCCARTHY 3216382000 6525 3RD STREET NO 304 ROCKLEDGE FL 32955 LYNDA WEATHERMAN PRESIDENT 45.00 X 312597 0 51307 TRUDY MCCARTHY SR DIRECTOR OF MARKETING 45.00 X 127238 0 43090 GREGORY WEINER SR DIRECTOR BUSINESS DEVEL 45.00 X 121071 0 40764 JOE T MAYER CHAIR 3.00 X X 0 0 0 JULIE K SONG CHAIR ELECT 2.00 X X 0 0 0 DANA KILBORNE IMMEDIATE PAST CHAIR 2.00 X X 0 0 0 BART GAETJENS TREASURER 2.00 X X 0 0 0 KIRK HALL SECRETARY 2.00 X X 0 0 0 JASON ALFORD DIRECTOR 1.00 X 0 0 0 GWENDOLYN ANELLO DIRECTOR 1.00 X 0 0 0 KRISTIN BAKKE DIRECTOR 1.00 X 0 0 0 JIM BARFIELD DIRECTOR 1.00 X 0 0 0 COURTNEY BARKER DIRECTOR 1.00 X 0 0 0 KEVIN BARRY DIRECTOR 1.00 X 0 0 0 KIM BELARDINELLI DIRECTOR 1.00 X 0 0 0 CHARLES R BERRY DIRECTOR 1.00 X 0 0 0 BARNEY BISHOP DIRECTOR 1.00 X 0 0 0 LEAH BLACKMORE DIRECTOR 1.00 X 0 0 0 BONNY BLOCK DIRECTOR 1.00 X 0 0 0 JULIE BRAGA DIRECTOR 1.00 X 0 0 0 THOMAS BRANDON DIRECTOR 1.00 X 0 0 0 LINDA BRANDT DIRECTOR 1.00 X 0 0 0 SCOTT BRAZDO DIRECTOR 1.00 X 0 0 0 COLLEEN BROWNE DIRECTOR 1.00 X 0 0 0 MARK F BUSALACCHI DIRECTOR 1.00 X 0 0 0 VALETA CAMERON DIRECTOR 1.00 X 0 0 0 HOLLY CARVER DIRECTOR 1.00 X 0 0 0 LAURA CHIESMAN DIRECTOR 1.00 X 0 0 0 DANIEL CIURO DIRECTOR 1.00 X 0 0 0 ROZ CLARK DIRECTOR 1.00 X 0 0 0 CHRIS CONNEEN DIRECTOR 1.00 X 0 0 0 BRIAN E CURTIN DIRECTOR 1.00 X 0 0 0 BILL DAVIS DIRECTOR 1.00 X 0 0 0 CRAIG DAY DIRECTOR 1.00 X 0 0 0 JOSEPH DISANTI DIRECTOR 1.00 X 0 0 0 CINDY DITTMER DIRECTOR 1.00 X 0 0 0 KIRSTEN DREGGORS DIRECTOR 1.00 X 0 0 0 STEPHANY ELEY DIRECTOR 1.00 X 0 0 0 DANIEL EVANS DIRECTOR 1.00 X 0 0 0 SEAN FARRELL DIRECTOR 1.00 X 0 0 0 AL FORBES DIRECTOR 1.00 X 0 0 0 KEVIN GHOLSTON DIRECTOR 1.00 X 0 0 0 MELISSA GOLDMAN DIRECTOR 1.00 X 0 0 0 DEBORAH GOODE DIRECTOR 1.00 X 0 0 0 BO GREEN DIRECTOR 1.00 X 0 0 0 RICH GREY DIRECTOR 1.00 X 0 0 0 BILL GUYAN DIRECTOR 1.00 X 0 0 0 GAIL HART DIRECTOR 1.00 X 0 0 0 DEBBIE HARVEY DIRECTOR 1.00 X 0 0 0 PHILLIP HAYES DIRECTOR 1.00 X 0 0 0 TOM C HERMANSEN DIRECTOR 1.00 X 0 0 0 SUSAN HODGERS DIRECTOR 1.00 X 0 0 0 GORDY HOUSER DIRECTOR 1.00 X 0 0 0 TRUDIE INFANTINI DIRECTOR 1.00 X 0 0 0 KRISTINE ISNARDI DIRECTOR 1.00 X 0 0 0 SHARON IVORY DIRECTOR 1.00 X 0 0 0 WALTER JACKIM DIRECTOR 1.00 X 0 0 0 KENNY JOHNSON DIRECTOR 1.00 X 0 0 0 NEAL JOHNSON DIRECTOR 1.00 X 0 0 0 JOAN JUNKALA-BROWN DIRECTOR 1.00 X 0 0 0 WAYNE E JUSTICE DIRECTOR 1.00 X 0 0 0 PUNEET KAPUR DIRECTOR 1.00 X 0 0 0 DAVID KORNICK DIRECTOR 1.00 X 0 0 0 JULIE KOROUNTCHEV DIRECTOR 1.00 X 0 0 0 GARY KRUEGER DIRECTOR 1.00 X 0 0 0 MICHAEL LAPIDUS DIRECTOR 1.00 X 0 0 0 BRIAN LIGHTLE DIRECTOR 1.00 X 0 0 0 JORDAN LUHN DIRECTOR 1.00 X 0 0 0 THOMAS MAHLE DIRECTOR 1.00 X 0 0 0 BEN MALIK DIRECTOR 1.00 X 0 0 0 FRANK MARGIOTTA DIRECTOR 1.00 X 0 0 0 LESLEY-ANNE MARKS DIRECTOR 1.00 X 0 0 0 DAWN MAYS DIRECTOR 1.00 X 0 0 0 STEPHANIE B MCLOUGHLIN DIRECTOR 1.00 X 0 0 0 MARY MEAD DIRECTOR 1.00 X 0 0 0 JASON W MILLER DIRECTOR 1.00 X 0 0 0 JESSICA MOORE DIRECTOR 1.00 X 0 0 0 TODD MORLEY DIRECTOR 1.00 X 0 0 0 MARCI MURPHY DIRECTOR 1.00 X 0 0 0 GARY NEAL DIRECTOR 1.00 X 0 0 0 JO LYNN NELSON DIRECTOR 1.00 X 0 0 0 MICAH NIX DIRECTOR 1.00 X 0 0 0 KYLE NYLANDER DIRECTOR 1.00 X 0 0 0 CRAIG OLSON DIRECTOR 1.00 X 0 0 0 DANIEL PIERRON DIRECTOR 1.00 X 0 0 0 TODD POKRYWA DIRECTOR 1.00 X 0 0 0 DAN POLLOCK DIRECTOR 1.00 X 0 0 0 TRAVIS PROCTOR DIRECTOR 1.00 X 0 0 0 GARY P PRUS DIRECTOR 1.00 X 0 0 0 JONATHAN H REED DIRECTOR 1.00 X 0 0 0 KIMBERLY B REZANKA DIRECTOR 1.00 X 0 0 0 VALIA RICH DIRECTOR 1.00 X 0 0 0 DINA REIDER HICKS DIRECTOR 1.00 X 0 0 0 JENNIFER ROGERS DIRECTOR 1.00 X 0 0 0 WENDY ROMEU DIRECTOR 1.00 X 0 0 0 HAL ROSE DIRECTOR 1.00 X 0 0 0 COREY RUNTE DIRECTOR 1.00 X 0 0 0 GILBERT RUSSELL DIRECTOR 1.00 X 0 0 0 JACK RYALS DIRECTOR 1.00 X 0 0 0 KIMBERLY SANTIAGO DIRECTOR 1.00 X 0 0 0 MARK A SCHRAMEK DIRECTOR 1.00 X 0 0 0 WINSTON SCOTT DIRECTOR 1.00 X 0 0 0 LEAH SELIG DIRECTOR 1.00 X 0 0 0 SUMMIT SHAH DIRECTOR 1.00 X 0 0 0 KAREN SKYERS DIRECTOR 1.00 X 0 0 0 FORREST SMALLEY DIRECTOR 1.00 X 0 0 0 LYNN SMITH DIRECTOR 1.00 X 0 0 0 SCOTT SORENSEN DIRECTOR 1.00 X 0 0 0 NATASHA CARTAGENA SPENCER DIRECTOR 1.00 X 0 0 0 LISA STEFFEN DIRECTOR 1.00 X 0 0 0 BRETT STRASSEL DIRECTOR 1.00 X 0 0 0 MATTHEW SUSIN DIRECTOR 1.00 X 0 0 0 TODD SUTHERLAND DIRECTOR 1.00 X 0 0 0 RICH D SUTTER DIRECTOR 1.00 X 0 0 0 TONY TALIANCICH DIRECTOR 1.00 X 0 0 0 AL TAYLOR DIRECTOR 1.00 X 0 0 0 CHRISTINE THOMPSON DIRECTOR 1.00 X 0 0 0 EMMANUEL TORMES DIRECTOR 1.00 X 0 0 0 ESTEBAN VALENTIN DIRECTOR 1.00 X 0 0 0 DAVID J VOLK DIRECTOR 1.00 X 0 0 0 ABRAM WALTON DIRECTOR 1.00 X 0 0 0 BRADLEY WHITE DIRECTOR 1.00 X 0 0 0 LISA WILDER DIRECTOR 1.00 X 0 0 0 BILL WILLIAMS DIRECTOR 1.00 X 0 0 0 MICHAEL WILLIAMS DIRECTOR 1.00 X 0 0 0 PETE WOODS DIRECTOR 1.00 X 0 0 0 LAURA YOUNG DIRECTOR 1.00 X 0 0 0 MATTHEW ABER DIRECTOR UNTIL 2/2020 1.00 X 0 0 0 JOSHUA ADAMS DIRECTOR UNTIL 3/2020 1.00 X 0 0 0 DENNIS BASILE DIRECTOR UNTIL 1/2020 1.00 X 0 0 0 ARTHUR BECKER DIRECTOR UNTIL 12/2019 1.00 X 0 0 0 JEAN ANN BOWMAN DIRECTOR UNTIL 6/2020 1.00 X 0 0 0 ADAM BROADWAY DIRECTOR UNTIL 2/2020 1.00 X 0 0 0 SANDRA BURGE DIRECTOR UNTIL 10/2020 1.00 X 0 0 0 WILLIAM CAPOTE DIRECTOR UMTIL 11/2019 1.00 X 0 0 0 WAYNE COOPER DIRECTOR UNTIL 12/2019 1.00 X 0 0 0 ZACHARY A COTNER DIRECTOR UNTIL 4/2020 1.00 X 0 0 0 SCOTT ELLER DIRECTOR UNTIL 11/2019 1.00 X 0 0 0 DON E GUST DIRECTOR UNTIL 3/2020 1.00 X 0 0 0 TREVOR HOWARD DIRECTOR UNTIL 3/2020 1.00 X 0 0 0 ROBERT KLEIN DIRECTOR UNTIL 3/2020 1.00 X 0 0 0 ELISABETH LOGAN DIRECTOR UNTIL 12/2019 1.00 X 0 0 0 LINDA MIEDEMA DIRECTOR UNTIL 2/2020 1.00 X 0 0 0 LUKE MIORELLI DIRECTOR UNTIL 1/2020 1.00 X 0 0 0 ANGELICA MORRISSEY DIRECTOR UNTIL 9/2020 1.00 X 0 0 0 JOHN COLE OLIVER DIRECTOR UNTIL 1/2020 1.00 X 0 0 0 CORDELL ROLLE DIRECTOR UNTIL 3/2020 1.00 X 0 0 0 ANTHONY M ROMERO DIRECTOR UNTIL 7/2020 1.00 X 0 0 0 MIKE RUGGIERO DIRECTOR UNTIL 11/2019 1.00 X 0 0 0 ROBERT SALONEN DIRECTOR UNTIL 6/2020 1.00 X 0 0 0 LINDA STOUT DIRECTOR UNTIL 3/2020 1.00 X 0 0 0 ERIC WRIGHT DIRECTOR UNTIL 3/2020 1.00 X 0 0 0 KRISTINE ZONKA DIRECTOR UNTIL 12/2019 1.00 X 0 0 0 560906 0 135161 3 0 1 0 0 515040 1738528 44340 2297908 MEETINGS AND FUNCTIONS 900099 41689 41689 PROGRAM SPONSORSHIPS 900099 28435 28435 PUBLICATIONS/STUDIES 900099 3000 3000 73124 3975 3975 2895 -2895 -2895 -2895 MISCELLANEOUS INCOME 900099 747 747 747 2372859 73124 0 1827 388751 681398 81469 118396 64906 3322 58244 88314 228181 36421 59530 121080 3408 57852 5099 5537 EXPENSES UNDER GRANTS 324077 EDUCATION & TRAINING 4507 ASSOCIATION DUES 3490 9185 2343167 239807 364054 1598369 1393652 114263 104660 83238 114593 40686 63593 116878 74852 34266 42026 10128 10128 2120757 2092706 183453 169075 477925 463685 661378 632760 X 1459379 1459946 1459379 1459946 2120757 2092706 X 29692 -29125 X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 34987 9330 25657 64966 54375 10591 16925 11147 5778 42026 X 2395919 23060 23060 2372859 0 2372859 2395352 23060 29125 52185 2343167 0 2343167 PART X, LINE 2: THE COMMISSION HAS REVIEWED AND EVALUATED THE RELEVANT TECHNICAL MERITS OF EACH OF ITS TAX POSITIONS IN ACCORDANCE WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA FOR ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, AND DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS THAT WOULD HAVE A MATERIAL IMPACT ON THE FINANCIAL STATEMENTS. PART XII, LINE 2D - OTHER ADJUSTMENTS: BAD DEBT EXPENSE 29,125. X X X X 0 0 0 LYNDA WEATHERMAN PRESIDENT 261220 0 38000 0 13377 0 41190 0 10117 0 363904 0 0 0 TRUDY MCCARTHY SR DIRECTOR OF MARKETING 119986 0 6000 0 1252 0 19718 0 23372 0 170328 0 0 0 GREGORY WEINER SR DIRECTOR BUSINESS DEVEL 112671 0 3000 0 5400 0 18002 0 22762 0 161835 0 0 0 BRANDT RONAT & COMPANY ENTITY MORE THAN 35% OWNED BY BOARD MEMBER LINDA BRANDT 18000 IMAGE AND ATTRACTION CAMPAIGN 0 FORM 990, PART VI, SECTION A, LINE 1 AN EXECUTIVE COMMITTEE, A SUBSET OF THE BOARD OF DIRECTORS HAS CHARGE OF THE ROUTINE BUSINESS AFFAIRS OF THE EDC DURING THE INTERIM BETWEEN MEETINGS OF THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE SHALL DELIBERATE UPON AND MAKE RECOMMENDATIONS TO THE BOARD OF DIRECTORS ON ALL MAJOR MATTERS CONCERNING THE EDC'S BUSINESS AND OPERATION. ACTIVITIES OF THE EXECUTIVE COMMITTEE SHALL BE REPORTED TO AND RATIFIED BY THE BOARD OF DIRECTORS AT THEIR NEXT REGULARLY SCHEDULED MEETING. THE EXECUTIVE COMMITTEE MEMBERSHIP AND APPOINTMENTS ARE GUIDED BY THE CORPORATE BY-LAWS. A BI-ANNUAL ELECTION PROCESS ENABLES REPRESENTATIVES FROM THE INVESTOR BASE TO BE APPOINTED TO THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION A, LINE 6 THE EDC SHALL HAVE SEVEN (7) CLASSES OF MEMBERSHIP AS FOLLOWS: GOVERNOR'S LEVEL; LEADERSHIP LEVEL; BOARD OF ADVISOR LEVEL; CORPORATE LEVEL; CHAIRMAN LEVEL; AMBASSADOR LEVEL; PATRON LEVEL. ANY INDIVIDUAL OR ORGANIZATION THAT PAYS DUES AND AGREES TO BE BOUND BY THE ARTICLES OF INCORPORATION, THE BYLAWS, AND SUCH RULES AND REGULATIONS AS THE BOARD OF DIRECTORS MAY FROM TIME TO TIME ADOPT IS ELIGIBLE FOR MEMBERSHIP IN THE EDC. ONLY INDIVIDUALS, SOLE PROPRIETORS, LOCAL CHAMBERS OF COMMERCE AND NOT-FOR-PROFIT ORGANIZATIONS MAY BE PATRON LEVEL MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS MEMBERSHIP AND APPOINTMENTS ARE GUIDED BY THE CORPORATE BY-LAWS. A BI-ANNUAL ELECTION PROCESS ENABLES REPRESENTATIVES FROM THE INVESTOR BASE TO BE APPOINTED TO THE BORAD OF DIRECTORS. GOVERNING DOCUMENTS, CORPORATE POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AT THE EDC'S OFFICE. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT OF THE FORM 990 AND REQUIRED ATTACHMENTS IS PRESENTED TO THE FINANCE COUNCIL AND SENIOR EDC STAFF BY THE CPA PREPARING THE RETURN, PRIOR TO FILING. THE FINANCE COUNCIL APPROVES THE RETURN FOR THE FILING. FORM 990, PART VI, SECTION B, LINE 12C ANY DIRECTOR VOTING UPON A MEASURE BEFORE THE BOARD OF DIRECTORS IN WHICH HE OR SHE HAS A PERSONAL, PRIVATE OR PROFESSIONAL INTEREST AND WHICH INURES TO HIS OR HER SPECIAL PRIVATE GAIN, OR THE SPECIAL GAIN OF ANY PRINCIPAL BY WHOM HE OR SHE IS RETANED, SHALL PRIOR TO SUCH VOTE DISCLOSE THE NATURE OF HIS INTEREST TO THE BOARD OF DIRECTORS AND WITH THE PERSON RESPONSIBLE FOR RECORDING THE MINUTES, WHO SHALL INCORPORATE THE DISCLOSURE IN THE MINUTES. AN INTERESTED DIRECTOR MAY BE COUNTED IN DETERMINING THE PRESENCE OF A QUORUM AT A MEETING OF THE BOARD OF DIRECTORS. IN THE EVENT A BOARD MEMBER BECOMES AWARE OF AN UNDECLARED CONFLICT OF INTEREST UPON A MATTER PREVIOUSLY VOTED UPON BY THE BOARD MEMBER, THEY SHOULD IMMEDIATELY FILE WITH THE SECRETARY OF THE EDC A WRITTEN STATEMENT REGARDING THE NATURE OF THE CONFLICT FORM 990, PART VI, SECTION B, LINE 15A EACH YEAR, A COMMITTEE OF AT LEAST FOUR SHALL BE SELECTED BY THE IMMEDIATE PAST CHAIRMAN OF THE BOARD TO REVIEW THE PRESIDENTS PERFORMANCE AND RECOMMEND ADJUSTMENTS TO THE PRESIDENTS COMPENSATION PACKAGE. THE COMMITTEE SHALL BE CHAIRED BY THE IMMEDIATE PAST CHAIRMAN OF THE BOARD OF THE EDC AND SHALL INCLUDE THE CURRENT CHAIRMAN OF THE BOARD. THE REMAINDER SHALL BE COMPOSED OF PREVIOUS CHAIRPERSONS OF THE EDC. A SALARY COMPARISON/BENCHMARK WILL BE CONDUCTED AT MINIMUM, EVERY THREE YEARS (LAST COMPLETED IN SEPTEMBER 2020). A PERFORMANCE QUESTIONNAIRE SHALL BE DISTRIBUTED TO THE EXECUTIVE COMMITTEE MEMBERS REQUESTING FEEDBACK REGARDING THE PRESIDENTS PERFORMANCE FOR THE YEAR. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CORPORATE POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AT THE EDC'S OFFICE. FORM 990, PART XI, LINE 9: BAD DEBT EXPENSE -29,125.