The MRC is a 501(c)6 non-profit professional membership organization incorporated in New York but based in Seattle, Washington. The MRC was granted its 501(c)6 status by the IRS in 2002. It is the principal not-for-profit, global forum for eCommerce fraud and payments professionals. The MRC is not a 501(c)3, so neither you nor your company are able to receive a tax deduction for a donation to the MRC.
In 2015 the MRC established a wholly owned subsidiary in Dublin, Ireland to coordinate its European operations.
The MRC has a Global Board of Directors (GB), consisting of nine members and three advisory boards: the Americas Advisory Board(AAB), European Advisory Board (EAB) and Asia Pacific Board (APAC AB). Advisory boards have up to sixteen Advisors, and half of those must be merchants.
The Account Manager from each merchant member elects at least three Global Board Directors each year in June.
MRC Organizational Structure
The MRC GB ensures the MRC operates ethically and legally. Individuals on that body act as "trustees" of the public for the MRC actions.
The MRC is run by a CEO who is managed by the GB. The CEO manages the day-to-day operations and, when appropriate, seeks input from the GB and Advisory Boards. The CEO is ultimately responsible for meeting strategic goals and managing MRC staff.
The MRC has all the required financial reporting systems in place and has functioning financial overview from the MRC Finance Committee. The MRC has an annual audit. The MRC fiscal year runs from July 1 - June 30, which is in-line with board terms.
The MRC carries the necessary and appropriate insurance, including Directors and Officers liability insurance, and haspersonnel policies and financial controls in place.
The MRC has a Board Conflict of Interest Policy which all Directors and Advisors are required to complete.
Global Board Roles and Responsibilities
As an MRC Global Board Director, you have three primary legal duties:
Duty of Care: Take care of the non-profit organization by ensuring prudent use of all assets, including facility, people, and good will.
Duty of Loyalty: Ensure that the non-profit organization's activities and transactions are, first and foremost, advancing its mission; recognize and disclose conflicts of interest; and make decisions that are in the best interest of the non-profit organization, not in the best interests of the individual board member (or any individual or for-profit entity).
Duty of Obedience: Ensure the non-profit organization obeys applicable laws and regulations, follows its own by-laws, and adheres to its stated corporate purpose/mission.
The MRC GB is primarily responsible for setting the strategic direction of the organization, hiring/firing and directing the CEO, and encouraging collaboration with all of the MRC constituents to achieve the mission of the organization.
As an MRC GB Director, you are a volunteer.
The MRC GB meets 6 times per year usually virtually, with at least one in-person meeting held per year.
The MRC GB Directors are encouraged to participate in at least one other MRC Committee or working group and to include other members of their company for other programs or committees as needed.
GB Directors spend up to five hours per month on MRC matters such as attending meetings, working groups, task forces, etc.
GB Directors are asked to attend all MRC flagship conferences and to at least commit to those held in their region of residence.
Both Merchant and Solution Provider Directors are encouraged to recruit merchants to join the MRC.