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 | EXECUTIVE COMMITTEE CONSISTS OF 9 MEMBERS. ONLY ELECTED MEMBERS OF THE INCOMING BOARD OR EX-OFFICIO VOTING MEMBERS OF THE INCOMING BOARD MAY SERVE ON THE EXECUTIVE COMMITTEE. THE INCOMING BOARD SHALL CONSIDER THE RECOMMENDATIONS OF THE NOMINATING COMMITTEE AND MAY CONSIDER NOMINATIONS BY ANY ELECTED OR EX-OFFICIO VOTING MEMBER OF THE INCOMING BOARD FOR MEMBERSHIP ON THE EXECUTIVE COMMITTEE. THE MEMBERS OF THE EXECUTIVE COMMITTEE SHALL BE ELECTED BY A MAJORITY OF THE DULY ELECTED AND EX-OFFICIO VOTING MEMBERS OF THE INCOMING BOARD. THE EXECUTIVE COMMITTEE SHALL BE VESTED WITH ALL THE POWERS AND DUTIES OF THE BOARD OF DIRECTORS IN THE INTERIM BETWEEN MEETINGS OF THE BOARD. THE CHAIRMAN OF THE BOARD SHALL BE EX-OFFICIO CHAIRMAN OF THE EXECUTIVE COMMITTEE. |
| FORM 990, PART VI, SECTION B, LINE 11 | THE FORM 990 IS PREPARED BY THE ORGANIZATION'S PUBLIC ACCOUNTING FIRM BASED ON INFORMATION SUPPLIED BY MANAGEMENT. AFTER A THOROUGH REVIEW OF THE FORM 990 BY MANAGEMENT, THE 990 IS REVIEWED BY THE AUDIT COMMITTEE PRIOR TO BEING FILED WITH THE IRS. THE 990 IS DISCUSSED WITH THE FULL BOARD DURING THE MID YEAR MEETING AFTER IT IS FILED WITH THE IRS. |
| FORM 990, PART VI, SECTION B, LINE 11 | THE EXECUTIVE COMMITTEE IS PROVIDED A COPY OF THE 990 FOR REVIEW PRIOR TO FILING. PER THE BYLAWS, THE EXECUTIVE COMMITTEE HAS THE ABILITY TO ACT ON BEHALF OF THE BOARD AND APPROVE THE 990. |
| FORM 990, PART VI, SECTION B, LINE 15 | FIRST A REVIEW OF THE COMPENSATION OF THE EXECUTIVE DIRECTOR IS PERFORMED BY THE BUDGET COMMITTEE OF THE PARENT (NATIONAL COTTON COUNCIL) COMPANY'S BOARD OF DIRECTORS TO DETERMINE THE AMOUNT AVAILABLE FOR COMPENSATION INCREASES. THE SPECIFIC AMOUNT IS THEN COMMUNICATED TO THE EXECUTIVE DIRECTOR OF COTTON COUNCIL INTERNATIONAL TO ALLOCATE AMONG ALL STAFF INCLUDING HIMSELF. THIS WAS LAST CONDUCTED IN 2014. |
| FORM 990, PART VI, SECTION C, LINE 19 | GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST. |
| FORM 990, PART XI, LINE 9: | UNREALIZED CURRENCY GAINS/LOSSES -4,261. |
| FORM 990, PART XII, LINE 2C: | THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. |
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