SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
MediumBullet Attach to Form 990 or 990-EZ.
MediumBullet Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2019
Open to Public
Inspection
Name of the organization
OAK CLIFF CHAMBER OF COMMERCE
 
Employer identification number

75-0468625
Return Reference Explanation
Pt VI, Line 6 The organization was organized with members, as defined by IRS guidelines.
Pt VI, Line 2 In 2019, the board approved the sale and leaseback of its corporate office to an entity that of partially owned by a member of the Board's Executive Committee. The transaction total was $700,000. The member also served as listing agent but received no commission.
Pt VI, Line 7a Members elect officers of the governing board in accordance with bylaws.
Pt VI, Line 11b Form 990 is reviewed by the Board Directors via email distribution.
Pt VI, Line 12c The conflicts policy covers all "interested persons", defined as any "director, principal officer or member of
Pt VI, Line 12c a committee with governing-board delegated powers." Annually each "interested person" has the duty to disclose a "financial interest" in any proposed transaction, including all pertinent and relevant facts of the conflict of interest, to the govering body. Other board or committee members shall examine each case and render a decision as to whether a conflict or interest exists. Undisclosed conflicts shall be dealt with according to written procedures currently in effect.
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Pt VI, Line 15a The Executive Committee (EC) of the Board of Directors (BOD) is responsible for administering , reviewing and approving the compensation of the President consistent with any employment contracts as follows:
Pt VI, Line 15a 1)The EC shall recommend to the BOD any employment contract or renewal of such contract.
Pt VI, Line 15a 2)The EC shall meet with the President at least annually to evaluate and discuss performance.
Pt VI, Line 15a 3)The EC shall determine any incentive compensation or compensation adjustments for the President consistent with the terms of the employment contract.
Pt VI, Line 15a 4)The BOD shall approve the employment contract for the President and any renewal of such contract.
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Pt VI, Line 15b Currently no other officers or key employees receive compensation.
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Pt VI, Line 19 Governing documents are available upon request.
Pt VI, Line 19 blank
Other The Board of Directors or Executive Committee selects the independent public accountant.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2019


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