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 1A | THE OFFICERS OF THE BOARD OF DIRECTORS SHALL CONSTITUTE AN EXECUTIVE COMMITTEE. TO THE EXTENT DETERMINED BY THE BOARD, THE EXECUTIVE COMMITTEE HAS THE AUTHORITY OF THE BOARD IN THE MANAGEMENT OF THE BUSINESS OF THE CORPORATION. THE EXECUTIVE COMMITTEE SHALL ACT ONLY IN THE INTERVAL BETWEEN MEETINGS OF THE BOARD AND AT ALL TIMES SHALL BE SUBJECT TO THE CONTROL AND DIRECTION OF THE BOARD. |
| FORM 990, PART VI, SECTION A, LINE 6 | THE ORGANIZAITON HAS MEMBERS WHO ELECT BOARD MEMBERS ANNUALLY. |
| FORM 990, PART VI, SECTION A, LINE 7A | MEMBERS ELECT BOARD MEMBERS ANNUALLY. |
| FORM 990, PART VI, SECTION A, LINE 7B | BYLAW CHANGES ARE RESERVED TO (OR SUBJECT TO APPROVAL BY) MEMBERS. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE DRAFT FORM 990 WILL BE REVIEWED BY THE ASSOCIATION'S MANAGEMENT. MANAGEMENT WILL INTERNALLY APPROVE THE FORM 990 BEFORE PROVIDING A COPY TO THE BOARD ELECTRONICALLY. THE BOARD WILL RECEIVE A COPY ROUGHLY ONE WEEK PRIOR TO THE MEETING. AT THE MEETING, THE BOARD WILL CONDUCT A DETAILED REVIEW, ASK NECESSARY QUESTIONS TO MANAGEMENT AND THE INDEPENDENT PUBLIC ACCOUNTING FIRM BEFORE FINAL APPROVAL. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE ASSOCIATION'S CONFLICT OF INTEREST POLICY COVERS DIRECTORS, OFFICERS, EMPLOYEES, OR MEMBERS OF COMMITTEES WITH BOARD DELEGATED POWERS WHO HAVE EITHER (A) A DIRECT OR INDIRECT FINANCIAL INTEREST OR (B) A FIDUCIARY RESPONSIBILITY TO ANOTHER ORGANIZATION. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF AND NATURE OF HIS OR HER FINANCIAL INTEREST OR FIDUCIARY RESPONSIBILITY AND MUST BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS RELATING TO HIS OR HER FINANCIAL INTEREST OR FIDUCIARY RESPONSIBILITY TO THE INSTITUTE'S BOARD OF DIRECTORS OR A COMMITTEE WITH BOARD DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL INTEREST OR FIDUCIARY RESPONSIBILITY AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, THE INTERESTED PERSON MUST LEAVE THE BOARD (OR COMMITTEE) MEETING WHILE THE FINANCIAL INTEREST OR FIDUCIARY RESPONSIBILITY IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD (OR COMMITTEE) MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. ALL PROCEEDINGS RELATED TO CONFLICTS OF INTEREST ARE DOCUMENTED IN THE MEETING MINUTES. |
| FORM 990, PART VI, SECTION B, LINE 15A | THE PRESIDENT OF THE BOARD DISCUSSED WITH THE ORGANIZATION'S OUTSOURCED ACCOUNTING FIRM WHO PROVIDED INFORMATION ABOUT SIMILAR POSITIONS IN SIMILAR ORGANIZATIONS. THE COMPENSATION PACKAGE WAS REVIEWED IN EXECUTIVE SESSION. THE COMPENSATION REVIEW WAS LAST CONDUCTED IN 2019. |
| 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 | OTHER PROFESSIONAL FEES 2,756. AD COMMISSIONS 2,182,309. |
| FORM 990, PART XI, LINE 9: | PROVISION FOR INCOME TAXES (PREVIOUSLY TAXED AS A CORPORATION) 30,719. BEGINNING RETAINED EARNINGS (PREVIOUSLY TAXED AS A CORPORATION) 629,586. |
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