Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
| Return Reference | Explanation |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | REGULAR MEMBERS OF THE IMC ANNUALLY ELECT THE ORGANIZATION'S OFFICERS AND BOARD OF DIRECTORS, WHICH ACTS AS THE CONFERENCE'S GOVERNING BODY. THE BOARD OF DIRECTORS HAS SOLE DISCRETION TO SELECT CRITERIA USED IN DETERMINING ELIGIBILITY FOR MEMBERSHIP. |
| FORM 990, PART VI, SECTION A, LINE 7A | ORGANIZATIONS ELIGIBLE FOR MEMBERSHIP WILL BE THOSE THAT ARE ENGAGED PRINCIPALLY IN FINANCIAL SERVICES AND HAVE SIGNIFICANT ROLES IN THE GLOBAL ECONOMY. |
| FORM 990, PART VI, SECTION A, LINE 7B | IN ADDITION TO THE ANNUAL ELECTIONS, THE REGULAR MEMBERS VOTE ON MAJOR CORPORATE ACTIONS AS REQUIRED BY THE MEMBERSHIP AND AMENDMENTS TO THE BYLAWS. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE CFO OF THE AMERICAN BANKERS ASSOCIATION SERVES AS APPOINTED CFO OF THE IMC. A SEPARATE AUDIT OF THE IMC IS CONDUCTED UNDER THE GOVERNANCE OF THE AMERICAN BANKERS ASSOCIATION. ABA'S MANAGEMENT, WHICH INCLUDES CERTIFIED PUBLIC ACCOUNTANTS, CONDUCTED SEVERAL INTERNAL REVIEWS OF THE COMPLETED FORM 990 PREPARED BY OUTSIDE ACCOUNTING FIRM.. |
| FORM 990, PART VI, SECTION B, LINE 12C | IMC MONITORS AND ENFORCES ITS CONFLICTS OF INTEREST POLICY BY, AT LEAST ANNUALLY, HAVING EACH OFFICER, MEMBER OF THE BOARD OF DIRECTORS, AND KEY EMPLOYEES ATTEST BY SIGNATURE THAT THEY HAVE READ, UNDERSTAND, AND ARE IN COMPLIANCE WITH THE POLICY. ON AN ANNUAL BASIS, THE BOARD IS PROVIDED A COPY OF THE POLICY, OFFERED AN OPPORTUNITY TO DISCUSS ITS REQUIREMENTS, AND HAVE ANY QUESTIONS ANSWERED. STAFF ATTENDS THE MEETINGS OF THE BOARD IN ORDER TO MONITOR COMPLIANCE WITH THE REQUIREMENTS AND THAT THE MINUTES OF THE MEETINGS FAIRLY REPRESENT THE DISCUSSIONS OF THE BOARD. |
| FORM 990, PART VI, SECTION C, LINE 19 | IMC DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. THE ORGANIZATION'S FORM 990 IS AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST. |
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