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 1 | THE ASSOCIATION'S EXECUTIVE COMMITTEE IS COMPRISED OF THE CHAIR, THE VICE CHAIR, THE SECRETARY/TREASURER, THE IMMEDIATE PAST CHAIR, AND THE VICE PRESIDENTS OF THE FIVE REGIONS. THE EXECUTIVE COMMITTEE HAS ALL THE POWERS OF THE BOARD OF DIRECTORS IN THE MANAGEMENT AND AFFAIRS OF THE ASSOCIATION EXCEPT TO AMEND, ALTER, OR RESCIND ANY BASIC POLICY ADOPTED BY THE BOARD OF DIRECTORS. ALL ACTIONS BY THE EXECUTIVE COMMITTEE ARE REPORTED TO THE BOARD OF DIRECTORS AT ITS MEETING NEXT SUCCEEDING SUCH ACTION, AND IS SUBJECT TO REVISION AND ALTERATION BY THE BOARD OF DIRECTORS, PROVIDED THAT NO RIGHTS OF THIRD PARTIES ARE ADVERSELY AFFECTED BY ANY SUCH REVISION OR ALTERATION. |
| FORM 990, PART VI, SECTION A, LINE 6 | MEMBERSHIP IN THE ASSOCIATION INCLUDES DEALER MEMBERS, LEGACY DEALER MEMBERS, AND ASSOCIATE MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7A | AN AUTHORIZED REPRESENTATIVE OF AN ELIGIBLE MEMBER CAN NOMINATE A DEALER IN THEIR REGION. AN AUTHORIZED REPRESENTATIVE OF AN ELIGIBLE DEALER IS ELIGIBLE TO VOTE ON ALL NOMINATIONS IN THAT DEALER'S REGION. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 WILL BE EMAILED OUT TO ALL BOARD MEMBERS BEFORE IT IS FILED. BOARD MEMBERS WILL BE ASKED TO REVIEW THE RETURN, ESPECIALLY THE QUESTIONS ON GOVERNANCE AND POLICIES. THE BOARD MEMBERS WILL BE ENCOURAGED TO ASK QUESTIONS. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE ASSOCIATION'S CONFLICT OF INTEREST POLICY COVERS ANY DIRECTOR, PRINCIPAL OFFICER, OR MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS. EACH COVERED PERSON SHALL ANNUALLY PROVIDE DISCLOSURES AS TO ANY POTENTIAL FINANCIAL INTERESTS AND SIGN A STATEMENT WHICH AFFIRMS THEY HAVE RECEIVED A COPY OF THE POLICY, HAS READ AND UNDERSTANDS THE POLICY, HAS AGREED TO COMPLY WITH THE POLICY, AND UNDERSTANDS THAT THE ASSOCIATION MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE BOARD OR EXECUTIVE COMMITTEE. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE BOARD OR EXECUTIVE COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR EXECUTIVE COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE BOARD OR EXECUTIVE COMMITTEE MEETING, BUT AFTER THE PRESENTATION, HE/SHE SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT OF INTEREST. ALL PROCEEDINGS ARE DOCUMENTED IN THE MINUTES OF THE BOARD. |
| FORM 990, PART VI, SECTION B, LINE 15A | ANNUALLY, A COMMITTEE COMPRISED OF FIVE INDEPENDENT BOARD MEMBERS DETERMINE THE COMPENSATION FOR THE PRESIDENT AND CHIEF EXECUTIVE OFFICER. THE COMMITTEE REVIEWS AND APPROVES THE PRESIDENT AND CHIEF EXECUTIVE OFFICER'S ANNUAL SALARY INCREASE AND BONUS (IF APPLICABLE) WHICH IS DOCUMENTED IN AN ANNUAL REVIEW DOCUMENT SIGNED BY THE CHAIRMAN. THIS PROCESS WAS LAST UNDERTAKEN IN 2020. THE PRESIDENT AND CHIEF EXECUTIVE OFFICER AND THE CHAIRMAN REVIEW AND APPROVE SALARY INCREASES FOR ALL OTHER EMPLOYEES BASED ON EMPLOYEE PERFORMANCE AND LONGEVITY. THE ANNUAL SALARY INCREASES AND BONUSES (IF APPLICABLE) FOR ALL OTHER EMPLOYEES ARE REVIEWED AND APPROVED BY THE CHAIRMAN AND DOCUMENTED IN A SIGNED ANNUAL REVIEW DOCUMENT. THIS PROCESS WAS LAST UNDERTAKEN IN 2020. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ASSOCIATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. THE ASSOCIATION DOES MAKE ITS FINANCIAL STATEMENTS AVAILABLE UPON REQUEST TO ALL DEALER MEMBERS OF THE ASSOCIATION. |
| FORM 990, PART XI, LINE 9: | CHANGE IN INVESTMENT IN SUBSIDIARY -63,428. |
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