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 | AAM HAS ONE CLASS OF REGULAR VOTING MEMBERS THAT MUST MEET THE FOLLOWING CRITERIA. A REGULAR MEMBER SHALL BE A CORPORATION, PARTNERSHIP OR OTHER LEGAL ENTITY THAT DERIVES MORE THAN FIFTY PERCENT (50%) OF ITS NET REVENUES IN THE UNITED STATES FROM THE DEVELOPMENT, COMMERCIALIZATION, MANUFACTURE, SALE AND/OR MARKETINGS OF FINISHED DOSE PRODUCTS THAT ARE (1) PRODUCTS DESCRIBED IN ABBREVIATED NEW DRUG APPLICATIONS FILED WITH THE U.S. FOOD & DRUG ADMINISTRATION; (2) PRODUCTS SOLD AS AUTHORIZED GENERIC DRUGS IN THE U.S., (3) BIOSIMILAR AND BIOGENERIC PRODUCTS, AS DESCRIBED IN SECTION 351(K) OF THE PUBLIC HEALTH SERVICE ACT, AS AMENDED; AND/OR (4) DRUG EFFICACY STUDY IMPLEMENTATION (DESI) PRODUCTS. REGULAR MEMBERS HAVE FULL VOTING RIGHTS ON A "ONE COMPANY, ONE VOTE" BASIS. EACH REGULAR MEMBER SHALL DESIGNATE IN WRITING ONE PERSON TO EXERCISE THE RIGHTS OF THE REGULAR MEMBER IN THIS ASSOCIATION. |
| FORM 990, PART VI, SECTION A, LINE 7A | AAM'S VOTING MEMBERS ELECT THE DIRECTORS OF AAM'S BOARD OF DIRECTORS. |
| FORM 990, PART VI, SECTION A, LINE 7B | PURSUANT TO AAM'S BYLAWS, THE VOTING MEMBERS HAVE THE AUTHORITY TO AMEND THE BYLAWS. FURTHER, PURSUANT TO THE D.C. NOT-FOR-PROFIT CORPORATION ACT, EXTRAORDINARY ACTIONS MUST BE APPROVED BY THE VOTING MEMBERS. |
| FORM 990, PART VI, SECTION B, LINE 11B | AAM STAFF AND LEGAL COUNSEL PROVIDE INITIAL REVIEW OF THE FORM 990. THE FORM 990 IS THEN REVIEWED BY THE AUDIT & FINANCE COMMITTEE. FINALLY IT IS FORWARDED TO ALL THE DIRECTORS OF THE BOARD BEFORE FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C | AAM REGULARLY AND CONSISTENTLY MONITORS COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY BY REMINDING DIRECTORS AND OTHERS SUBJECT TO THE POLICY PERIODICALLY OF THE APPLICABILITY OF THE POLICY AND THE APPROPRIATE MANNER OF COMPLYING WITH THE POLICY. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE COMPENSATION OF THE PRESIDENT IS DETERMINED BASED ON THE PERFORMANCE OF THE PRESIDENT AND COMPARABLE SALARIES OF EXECUTIVES OF SIMILARLY SITUATED AND COMPETING TRADE ASSOCIATIONS IN THE WASHINGTON, DC METROPOLITAN AREA. FINAL APPROVAL OF THE PRESIDENT'S COMPENSATION IS MADE BY THE EXECUTIVE COMMITTEE OF THE BOARD, ALL OF WHOM ARE INDEPENDENT DIRECTORS. COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES IS DETERMINED BY THE PRESIDENT BASED ON COMPENSATION DATA OF SIMILARLY SITUATED EMPLOYEES AT SIMILARLY SITUATED AND COMPETING TRADE ASSOCIATIONS IN THE WASHINGTON, DC METROPOLITAN AREA. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. |
| FORM 990, PART IX, LINE 11G | CONSULTANTS 2,977,954. PAYROLL PROCESSING FEES 8,766. EXECUTIVE SEARCH EXPENSE 422,809. |
| FORM 990, PART XII, LINE 2C: | THE AUDIT & FINANCE COMMITTEE OF THE BOARD OVERSEES THE AUDIT AND RECOMMENDS SELECTION OF AN INDEPENDENT AUDITOR BY THE BOARD. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. |
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