Attach to Form 990 or 990-EZ.
Information about Schedule O (Form 990 or 990-EZ) and its instructions is at| Return Reference | Explanation |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 1 | AT THE FIRST REGULAR MEETING OF THE BOARD OF DIRECTORS FOLLOWING EACH ANNUAL CONVENTION, THE BOARD APPOINTS AN EXECUTIVE COMMITTEE, WHICH IS COMPOSED OF: THE CHAIRMAN OF THE BOARD; THE CHAIRMAN AND THE FIRST AND SECOND VICE CHAIRMEN OF THE RADIO BOARD; THE CHAIRMAN AND THE FIRST AND SECOND VICE CHAIRMEN OF THE TELEVISION BOARD; A TELEVISION NETWORK REPRESENTATIVE; A MAJOR GROUP RADIO REPRESENTATIVE; AND THE PRESIDENT; ADDITIONALLY, THERE ARE NONVOTING MEMBERS AS DETERMINED BY THE BOARD. NO MORE THAN ONE PERSON OF EACH MEMBER STATION OR GROUP OF STATIONS MAY SERVE ON THE EXECUTIVE COMMITTEE SIMULTANEOUSLY. THE EXECUTIVE COMMITTEE SHALL BE EMPOWERED TO ACT FOR THE BOARD OF DIRECTORS BETWEEN MEETINGS OF THE BOARD. EXPENDITURES ON ANY ITEM OR ISSUE, NOT CONTAINED IN THE APPROVED BUDGET FOR THE CURRENT FISCAL YEAR, SHALL NOT EXCEED, WITHOUT THE PRIOR APPROVAL OF THE BOARD, AN AMOUNT TO BE SET ANNUALLY BY THE BOARD AS PART OF THE REGULAR BUDGETING PROCESS. A REPORT ON ALL ACTIONS TAKEN BY THE EXECUTIVE COMMITTEE IS FORWARDED PROMPTLY TO ALL MEMBERS OF THE BOARD. |
| FORM 990, PART VI, SECTION A, LINE 6 | NAB IS A MEMBERSHIP ORGANIZATION FOR THE BROADCASTING INDUSTRY. THERE ARE TWO CLASSES OF MEMBERS: ACTIVE (RADIO AND TV) AND ASSOCIATE. |
| FORM 990, PART VI, SECTION A, LINE 7A | NAB HAS A RADIO BOARD AND TELEVISION BOARD. THE RADIO BOARD MAY HAVE NO MORE THAN 35 MEMBERS, TEN OF WHOM ARE APPOINTED BY THE BOARD AND THE REMAINDER OF WHOM ARE ELECTED FROM EACH RADIO DISTRICT BY BALLOT. THE TELEVISION BOARD MAY HAVE NO MORE THAN 26 MEMBERS: SIX SEATS ARE APPOINTED BY THE EXECUTIVE COMMITTEE, TWO ARE APPOINTED BY THE TELEVISION BOARD, AND THE REMAINDER ARE ELECTED BY THE MEMBERSHIP. |
| FORM 990, PART VI, SECTION B, LINE 11 | THE 990 IS PREPARED AND REVIEWED BY THE OFFICE OF THE CONTROLLER AND REVIEWED BY THE CHIEF FINANCIAL OFFICER,PRESIDENT, AND THE AUDIT & EXECUTIVE COMMITTEES. |
| FORM 990, PART VI, SECTION B, LINE 12C | ANNUALLY, NAB STAFF REVIEW AND SIGN A CONFLICT OF INTEREST/BUSINESS ETHICS POLICY THAT PROVIDES GUIDANCE ON AVOIDING CONFLICTS OF INTEREST AND UNDUE INFLUENCE, AS WELL AS SPELLING OUT LIMITATIONS ON THE ACCEPTANCE OF GIFTS. CORPORATE COUNSEL PROVIDES QUARTERLY REPORTS TO THE CHIEF OPERATING OFFICER ON ANY KNOWN CONFLICTS OF INTEREST, AND ALSO ADDRESSES STAFF INQUIRIES REGARDING CONFLICTS OF INTEREST. ANY CONFLICTS NOT RESOLVED ARE BROUGHT TO THE ATTENTION OF THE AUDIT COMMITTEE AND/OR EXECUTIVE COMMITTEE. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE CEO'S COMPENSATION IS DETERMINED BY THE COMPENSATION COMMITTEE AFTER A REVIEW OF THE CEO'S ACTIVITIES AND ACCOMPLISHMENTS FOR THE YEAR. THERE IS DISCUSSION AND DELIBERATION, AND THE PARTIES ARE PROVIDED WITH COMPARABLE DATA, AS AVAILABLE. THE DETERMINATION IS PROVIDED TO THE CFO FOR IMPLEMENTATION. |
| FORM 990, PART VI, SECTION C, LINE 19 | NAB DOES NOT MAKE ITS GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC EXCEPT AT ITS DISCRETION ON A CASE BY CASE BASIS. |
| FORM 990, PART X, LINE 14: | ACQUISITION OF TRADE SHOW AND INVESTMENT IN RELATED ENTITY. |
| FORM 990, PART XII, LINE 2C: | THE AUDIT OVERSIGHT PROCESS HAS REMAINED UNCHANGED FROM THE PRIOR YEAR. |
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