Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
| Return Reference | Explanation |
|---|---|
| Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder | The Association has two membership types: (1) Real Estate Member and (2) Allied Member.The term Real Estate Member Entity shall mean either an individual or other legal entity that is admitted to the Association upon approval of the Board and by paying any necessary fees set by the Board. A Real Estate Member Entitys primary business function must contain at least one of the following: (1) managing commercial real estate, (2) supervising commercial real estate managers or management firms, (3) owning or operating commercial real estate, and/or (4) developing, selling, acquiring or leasing commercial real estate.The term Government Agency Member shall mean any qualified agency (as determined by the Board) of the United States, the State of Texas, county, city/municipality, or any political subdivision thereof that owns or manages any commercial real estate, and is approved as a Government Agency Member by the Board.The term Principal Member, as used in these Bylaws, may either be a Real Estate Principal Member, an Allied Principal Member, or a Government Agency Principal Member.The term Additional Member, may either be a Real Estate Additional Member, an Allied Additional Member, or a Government Agency Additional Member.B. Types of Real Estate Members. There are five (5) types of Real Estate Members: (1) Real Estate Principal Member, (2) Real Estate Additional Member, (3) Government Agency Principal Member, (4) Government Agency Additional Member, and (5) Member in Transition. These are described below:1. Real Estate Principal Member. A Real Estate Principal Member is a designated individual of each Real Estate Member Entity. Each Real Estate Principal Member in good standing is entitled to one (1) vote on all matters that the Association is entitled to decide. A Real Estate Member Entity may appoint one (1) Real Estate Principal Member from time to time.2. Real Estate Additional Member. A Real Estate Additional Member is an additional designated individual of a Real Estate Member Entity. Each Real Estate Additional Member shall have the same privileges and duties of a Real Estate Principal Member, except that the Real Estate Additional Member cannot vote on Association matters unless he/she is in good standing and has been designated (in writing, in advance) by a Real Estate Principal Member (and if he/she is properly designated and entitled to vote, then he/she is entitled to one (1) vote on all matters that the Association is entitled to decide). Upon the written consent of a Real Estate Principal Member, a Real Estate Additional Member (of that same Real Estate Member Entity) may become an Officer (if duly elected pursuant to these Bylaws). A Real Estate Member Entity may appoint one (1) or more Real Estate Additional Members from time to time.3. Government Agency Principal Member: A Government Agency Principal Member is a designated individual of each Government Agency Member. Each Government Agency Principal Member in good standing is entitled to one (1) vote on all matters that the Association is entitled to decide. From time to time, a Government Agency Member Entity may appoint one (1) Government Agency Principal Member. From time to time, the Board may determine: (1) a maximum number of Government Agency Members, (2) requirements for an entity to become and remain a Government Agency Member, (3) the rights, privileges and obligations of Government Agency Members, and (4) all other terms and conditions related to Government Agency Members (and their membership).4. Government Agency Additional Member: A Government Agency Additional Member is an additional designated individual of a Government Agency Member. Each Government Agency Additional Member shall have the same privileges and duties of a Government Agency Principal Member, except that the Government Agency Additional Member cannot vote on Association matters unless he/she is in good standing and has been designated (in writing, in advance) by a Government Agency Principal Member (and if he/she is properly designated and entitled to vote, then he/she is entitled to one (1) vote on all matters that the Association is entitled to decide). Upon the written consent of a Government Agency Principal Member, a Government Agency Additional Member (of that same Government Agency Member) may become an Officer (if duly elected pursuant to these Bylaws). A Government Agency Member may appoint one (1) or more Government Agency Additional Members from time to time.5. Member in Transition: A Member in Transition is a Principal Member or Additional Member in good standing, who is no longer employed or affiliated with a Real Estate Member Entity, a Government Agency Member (as the case may be), but is allowed to enjoy certain Member benefits for a period of time up to six (6) consecutive months while such Member is unemployed, and for an additional three (3) months after obtaining employment/affiliation with either a Real Estate Member Entity or a Government Agency Member. The Board may determine: (1) which individuals may be a Member in Transition, (2) requirements for an entity or individual to become and remain a Member in Transition, (3) the rights, privileges and obligations of Member in Transition (including the local Member benefits), and (4) all other terms and conditions related to Member in Transition (and their membership). the local Member benefits that a Member in Transition may enjoy are as follows: (1) the right to attend Association meetings/events, (2) serving on a committee, (3) serving on the Board, and (4) the right to maintain his/her volunteer status. A Member in Transition may not vote as a Real Estate Principal Member, but may vote as a Director if he/she is properly qualified as a Director pursuant to the terms herein.C. Allied Member: An Allied Member is an individual, firm, corporation, or other type of legal entity that provides products and/or services to the commercial real estate industry. Allied Members are not entitled to vote on Association matters. An Allied Member may serve industries other than commercial real estate. From time to time, the Board may determine: (1) a maximum number of Allied Members, (2) requirements for an entity to become and remain an Allied Member, (3) the number of Allied Principal Members and Allied Additional Members that each Allied Member can appoint, (4) the rights, privileges and obligations of Allied Members, (5) the number of individuals who may represent an Allied Member at the Associations meetings and activities, and (6) all other terms and conditions related to Allied Members (and their membership). |
| Form 990, Part VI, Line 11b: Form 990 Review Process | FORM 990 IS EMAILED TO ALL BOARD MEMBERS BEFORE THE RETURN IS FILED. |
| Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts | ALL MEMBERS ARE REQUIRED TO SIGN A "CONFLICT OF INTEREST & DISCLOSURE FORM" IN FEBRUARY, EVEN IF THEY ARE RETURNING BOARD MEMBERS. |
| Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management | KEY EMPLOYEE COMPENSATION IS DETERMINED AND AGREED UPON BY OFFICERS OF THE BOARD AND EVP OF DALLAS BOMA. |
| Form 990, Part VI, Line 19: Other Organization Documents Publicly Available | THE ORGANIZATION'S GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST. |
| Software ID: | 19009920 |
| Software Version: | 2019v5.0 |