Attach to Form 990 or 990-EZ.| Identifier | Return Reference | Explanation |
|---|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | THE ASSOCIATION HAS MEMBERS. THE ASSOCIATION'S BYLAWS PROVIDE THAT THE MANAGEMENT OF THE ASSOCIATION SHALL BE VESTED IN A BOARD OF GOVERNORS. SINCE THE BOARD OF GOVERNORS ONLY MEETS SEVERAL TIMES A YEAR, IT DELEGATES AUTHORITY TO AN EXECUTIVE COMMITTEE THAT EXERCISES ALL OF THE POWERS OF THE BOARD IN BETWEEN BOARD OF GOVERNOR MEETINGS. THE EXECUTIVE COMMMITTEE CONSISTS OF AT LEAST 5 OF THE FOLLWOING MEMBERS: PRESIDENT, VICE PRESIDENT, TREASURER, SECRETARY, ASSISTANT TREASURER, OR PAST PRESIDENTS. THE BOARD OF GOVERNORS, OR THE EXECUTIVE COMMITTEE IN THEIR ABSENCE, VOTES TO APPROVE OR REJECT A MEMBERSHIP APPLICATION. APPLICATIONS MUST BE DONE ON A FORM PROVIDED BY THE BOARD OF GOVERNORS AND EACH APPLICANT MUST BE ENDORSED BY AT LEAST ONE MEMBER IN GOOD STANDING. APPROVAL REQUIRES A TWO-THIRDS VOTE. | |
| FORM 990, PART VI, SECTION A, LINE 7A | THE BOARD OF GOVERNORS, OR THE EXECUTIVE COMMITTEE IN THEIR ABSENCE, SHALL VOTE ON ANY MATTER UNDER THE BYLAWS. THIS INCLUDES VACANCIES AND NEWLY CREATED POSITIONS RESULTING FROM ANY INCREASE IN THE AUTHORIZED NUMBER OF GOVERNORS, WHICH MAY BE FILLED BY PERSONNEL ELECTED BY A THREE-FOURTH VOTE. THE BOARD OF GOVERNORS ALSO APPOINTS AN ELECTION COMMITTEE EACH YEAR, WHICH ACCEPTS NOMINATIONS FROM EVERY MEMBER COMPANY IN THE ASSOCIATION. THE BOARD OF GOVERNORS MAY ALSO ELECT, WITH A THREE-FOURTH VOTE, A QULIFIED INDIVIDUAL TO AN HONORARY POSITION ON THE BOARD. THIS HONORARY POSITION IS NON-VOTING. | |
| FORM 990, PART VI, SECTION B, LINE 11 | ELECTRONIC DRAFT COPIES ARE SENT TO THE EXECUTIVE DIRECTOR OF THE ASSOCIATION FOR DISSEMINATION TO THE BOARD OF DIRECTORS WITH WRITTEN INSTRUCTIONS TO REVIEW AND APPROVE THE FORM IN ACCORDANCE WITH IRS REGULATIONS. WRITTEN COMMENTS AND QUESTIONS BY THE BOARD, IF ANY, ARE SENT TO THE ACCOUNTANT FOR RESPONSES. OTHERWISE EACH BOARD MEMBER SIGNS OFF IN THE WRITTEN INSTRUCTION SHEET THAT THEY APPROVE OF FORM 990 AS PREPARED. | |
| FORM 990, PART VI, SECTION B, LINE 12C | ALL OFFICERS AND DIRECTORS MUST COMPLETE AND SUBMIT A CONFLICT OF INTEREST STATEMENT ANNUALY. | |
| FORM 990, PART VI, SECTION C, LINE 19 | ANY MEMBER OF THE GENERAL PUBLIC MAY APPEAR AT THE OFFICE OF THE ASSOCIATION AND REQUEST TO INSPECT COPIES OF THE ASSOCIATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FINANCIAL STATEMENTS, FORM 990. | |
| CHANGES IN NET ASSETS OR FUND BALANCES: | FORM 990, PART XI, LINE 5: | NET UNREALIZED GAINS ON INVESTMENTS: 140,917. |
| THE ORGANIZATION UTILIZES THE MODIFIED CASH BASIS OF ACCOUNTING, WHICH IS A COMPREHENSIVE BASIS OF ACCOUNTING OTHER THAN GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. UNDER THIS BASIS, GENERALLY, REVENUES ARE RECOGNIZED WHEN CASH IS RECEIVED AND EXPENSES ARE RECORDED WHEN PAID. |
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