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 6 | THERE SHALL BE TWO CLASSES OF VOTING MEMBERS IN THE ASSOCIATION: INDIVIDUAL AND CORPORATE. INDIVIDUAL MEMBERS SHALL HAVE THE RIGHT TO VOTE AS PROVIDED IN THE BY LAWS OF THE INSTITUTE. CORPORATE MEMBERS SHALL NOT HAVE THE RIGHT TO VOTE. |
| FORM 990, PART VI, SECTION A, LINE 7A | ALL BUSINESS OF THE ASSOCIATION REQUIRING APPROVAL OF THE MEMBERS, INCLUDING THE ELECTION OF GOVERNORS, SHALL BE VOTED ON IN PERSON OR BY PROXY BY THE INDIVIDUAL MEMBERS. |
| FORM 990, PART VI, SECTION B, LINE 11 | THE FORM 990 IS PREPARED BY AN OUTSIDE FIRM. THE FORM 990 IS THEN REVIEWED BY THE DIRECTOR OF FINANCE AND THE CEO PRIOR TO ITS FILING WITH THE IRS. |
| FORM 990, PART VI, SECTION B, LINE 12C | MEMBERS OF THE BOARD OF GOVERNORS ARE REQUIRED TO REFRAIN FROM COMMENTS OR VOTING ON SUBJECT MATTERS IN WHICH A CONFLICT OF INTEREST HAS BEEN IDENTIFIED. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE OFFICERS OF THE BOARD OF GOVERNORS REVIEW THE EXECUTIVE DIRECTOR'S COMPENSATION ON AN ANNUAL BASIS AS PART OF THE CEO CONTRACT PROCESS. AT THE TIME OF CONTRACT RENEWAL, THE COMMITTEE REVIEWS MARKET SURVEY INFORMATION FROM THE ASAE (BLUE CHIP) AND SALARY REVIEW FOR THE EXECUTIVE DIRECTOR'S POSITION. AT THE CONCLUSION OF THE PROCESS, A SALARY DETERMINATION WAS MADE BY THE OFFICERS, AND PROVIDED TO THE ADMINISTRATION DEPARTMENT AND DIRECTOR OF FINANCE FOR INCLUSION IN THE NEXT PAY CYCLE. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS ARE NOT GENERALLY MADE AVAILABLE TO THE GENERAL PUBLIC, BUT IF REQUESTS FOR COPIES OF THESE DOCUMENTS WERE TO BE RECEIVED, THE ORGANIZATION WOULD CONSIDER MAKING THEM AVAILABLE TO THE REQUESTOR. |
| FORM 990, PART XII, LINE 2C: | THE AUDIT OVERSIGHT PROCESS HAS REMAINED UNCHANGED FROM THE PREVIOUS YEAR. |
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