Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
| Return Reference | Explanation |
|---|---|
| FORM 990, PART I, LINE 6, DESCRIPTION OF VOLUNTEERS: | VOLUNTEERS ARE EQUAL TO THE TOTAL NUMBER OF DIRECTORS WHO SERVED ON THE BOARD OF DIRECTORS AT SOME POINT IN 2022. PLIB HAS NO OTHER VOLUNTEERS. DIRECTORS GIVE ANYWHERE FROM 4 TO 24 HOURS A YEAR OF THEIR TIME. |
| FORM 990, PART VI, SECTION A, LINE 2 | KEN THORLAKSON AND GREG SMITH HAVE A BUSINESS RELATIONSHIP. |
| FORM 990, PART VI, SECTION A, LINE 6 | MEMBERS ARE BUSINESS ORGANIZATIONS ENGAGED IN THE MANUFACTURE OR REMANUFACTURE OF LUMBER OR TIMBER PRODUCTS WHO HAVE SIGNED A GRADE STAMP LICENSING AGREEMENT OR AN AITC QUALITY MARK LICENSING AGREEMENT. MEMBERSHIP SHALL CONSIST OF FOUR CLASSES, NAMELY ACTIVE FULL MEMBERS, INACTIVE FULL MEMBERS, AND TWO CATEGORIES OF ASSOCIATE MEMBERS. ACTIVE FULL MEMBERS ARE THOSE WHO USE THE SERVICES OF THE CORPORATION, AND INACTIVE FULL MEMBERS ARE THOSE WHO DO NOT FOR AT LEAST A YEAR. ASSOCIATE CATEGORY 1 MEMBERS SHALL BE INDIVIDUALS AND FIRMS THAT PARTICIPATE IN ONE OF THE CORPORATION'S QUALITY SERVICE PROGRAMS BUT HAVE NOT SIGNED EITHER A GRADE STAMP LICENSING AGREEMENT OR AN AITC QUALITY MARK LICENSING AGREEMENT. ASSOCIATE CATEGORY 2 MEMBERS SHALL BE INDIVIDUALS OR FIRMS INTERESTED BUT NOT ENGAGED IN THE MANUFACTURE OR PROCESSING OF WOOD PRODUCTS. ONLY ACTIVE FULL MEMBERS SHALL BE ENTITLED TO VOTE ON MATTERS THAT COME BEFORE THE MEMBERSHIP. OTHER THAN VOTING, ALL MEMBERS SHALL HAVE EQUAL RIGHTS, PRIVILEGES AND OBLIGATIONS OF MEMBERSHIP. COMPANIES WITH MULTIPLE GRADING LOCATIONS SHALL OBTAIN ONE MEMBERSHIP FOR EACH LOCATION PROVIDED EACH LOCATION HAS SIGNED A GRADE STAMP LICENSING AGREEMENT, OR AITC QUALITY MARK LICENSING AGREEMENT. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE GOVERNING BODY IS THE BOARD OF DIRECTORS AND IS ELECTED ANNUALLY BY THE MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7B | APPROVAL OF THE AUDITORS AND ANNUAL FINANCIAL STATEMENTS IS RESERVED FOR THE MEMBERS. APPROVAL OF CHANGES TO THE ARTICLES OF INCORPORATION IS RESERVED FOR THE MEMBERS. MEMBERS ALSO ELECT THE GOVERNING BODY. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE DRAFT 990 IS SENT TO THE EXECUTIVE COMMITTEE FOR COMMENT AND APPROVAL ON BEHALF OF THE BOARD OF DIRECTORS. IT IS SENT AS SOON AS IT IS AVAILABLE AND COMMENTS ARE REQUIRED WITHIN A WEEK OF RECEIPT. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE CONFLICT OF INTEREST POLICY COVERS THE BOARD OF DIRECTORS, MEMBERS OF THE COMMITTEES, OFFICERS, AND KEY EMPLOYEES. THE POLICY IS REVIEWD ANNUALLY AT THE DECEMBER BOARD MEETING AND ALL PARTIES ARE REQUIRED TO DISCLOSE ANY CONFLICTS, RELATED PARTIES, ETC. IF A CONFLICT EXISTS, THEN THE BOARD OF DIRECTORS SELF REPORT AND IF A MEMBER OF THE BOARD HAS A CONFLICT, THEY ARE TO RECUSE THEMSELVES FROM THE DISCUSSION. |
| FORM 990, PART VI, SECTION B, LINE 15 | COMPENSATION FOR THE TOP MANAGEMENT OFFICIAL AND ALL OTHER OFFICERS OR KEY EMPLOYEES IS DONE BY A COMMITTEE AS DETERMINED BY THE BOARD OF DIRECTORS USING THE PLIB EXECUTIVE COMPENSATION POLICY. |
| FORM 990, PART VI, SECTION C, LINE 19 | ALL GOVERNING DOCUMENTS, ANNUAL FINANCIAL STATEMENTS, AND THE CONFLICT OF INTEREST POLICY ARE AVAILABLE ON REQUEST. |
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