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 | THE ASSOCIATION'S VOTING MEMBERSHIP CONSISTS OF 82 COMPANIES IN THE GENERAL AVIATION INDUSTRY. EACH MEMBER COMPANY DESIGNATES ONE INDIVIDUAL TO SERVE ON THE BOARD OF DIRECTORS. EVERY BOARD MEMBER IS ELECTED BY THE FULL BOARD OF DIRECTORS. MEMBERS OF THE BOARD OF DIRECTORS SERVE WITHOUT COMPENSATION. THE ASSOCIATION ALSO HAS A MEMBERSHIP CLASS CALLED ASSOCIATE MEMBERSHIP EPIC. EACH ASSOCIATE EPIC CLASS MEMBER COMPANY IS NOT ELIGIBLE TO APPOINT A MEMBER TO THE BOARD OF DIRECTORS. HOWEVER, AS A GROUP, THE ASSOCIATE EPIC CLASS MEMBER COMPANIES CAN APPOINT ONE REPRESENTATIVE TO THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS IS THE GOVERNING BODY OF THE ASSOCIATION. ALL DIRECTORS ARE VOTING MEMBERS OF THE BOARD OF DIRECTORS. |
| FORM 990, PART VI, SECTION A, LINE 7A | ALL MEMBER COMPANIES, OTHER THAN ASSOCIATE EPIC CLASS MEMBER COMPANIES, HAVE A SEAT ON THE BOARD OF DIRECTORS. EACH OF THESE MEMBER COMPANIES APPOINT AN EXECUTIVE TO REPRESENT THE COMPANY ON THE BOARD OF DIRECTORS. ANY CHANGE IN THE MEMBER'S REPRESENTATIVE REQUIRES UNANIMOUS APPROVAL OF THE BOARD OF DIRECTORS. ALL COMPANIES SEEKING TO JOIN THE ASSOCIATION REQUIRE UNANIMOUS APPROVAL OF THE BOARD OF DIRECTORS BEFORE THEY BECOME A MEMBER. UNANIMOUS APPROVAL IS ALSO REQUIRED OF THE EXECUTIVE TO REPRESENT THE NEW MEMBER. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE MEMBERS OF THE ASSOCIATION'S BOARD OF DIRECTORS ARE HIGHER ECHELON OFFICERS OF MEMBER COMPANIES. THE BOARD MEMBERS DO NOT HAVE THE TIME AND/OR EXPERTISE TO REVIEW THE FORM 990. THE BOARD OF DIRECTORS HAVE AUTHORIZED THE ASSOCIATION TO PROVIDE A COPY OF THE FORM 990 TO THE MEMBERS OF THE FINANCE COMMITTEE BEFORE FILING THE TAX RETURN. A COMPLETE COPY OF THE FORM 990 WAS E-MAILED TO ALL MEMBERS OF THE FINANCE COMMITTEE BEFORE FILING. THIS RETURN WAS REVIEWED BY THE FORMER DIRECTOR OF ACCOUNTING AND THE CORPORATE SECRETARY, AS WELL AS BY THE ASSOCIATION'S PRESIDENT & CEO. |
| FORM 990, PART VI, SECTION B, LINE 12C | ALL BOARD MEMBERS, OFFICERS, AND KEY EMPLOYEES ARE REQUIRED TO SUBMIT ANNUALLY SIGNED CONFLICT OF INTEREST DISCLOSURE STATEMENTS TO THE ASSOCIATION'S DIRECTOR OF ADMINISTRATION. |
| FORM 990, PART VI, SECTION B, LINE 15A | COMPENSATION FOR THE ASSOCIATION'S PRESIDENT & CEO IS REVIEWED AND APPROVED ANNUALLY BY THE CHAIRMAN AND VICE CHAIRMAN OF THE BOARD OF DIRECTORS. |
| FORM 990, PART VI, SECTION C, LINE 18 | AVAILABLE UPON REQUEST |
| FORM 990, PART VI, SECTION C, LINE 19 | AVAILABLE UPON REQUEST |
| FORM 990 PART XII LINE 1 | THE FINANCIAL STATEMENTS ARE PRESENTED ON THE MODIFIED CASH BASIS OF ACCOUNTING, WHICH IS A COMPREHENSIVE BASIS OF ACCOUNTING OTHER THAN ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA (GAAP). ACCORDINGLY, THE FINANCIAL STATEMENTS INCLUDE ONLY THE ASSETS AND LIABILITIES ARISING FROM CASH TRANSACTIONS AND DO NOT REFLECT ACCRUALS FOR INCOME EARNED OR LIABILITIES INCURRED, OTHER THAN AMOUNTS DUE FROM EMPLOYEES AND LIABILITIES FOR PAYROLL WITHHOLDINGS. FURTHERMORE, PROPERTY AND EQUIPMENT WITH ESTIMATED USEFUL LIVES OF MORE THAN ONE YEAR ARE CAPITALIZED AND THEIR COST IS DEPRECIATED OR AMORTIZED OVER THEIR ESTIMATED USEFUL LIVES. |
| FORM 990, PART XII, LINE 2C | PROCESS HAS NOT CHANGED. |
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