| Return Reference | Explanation |
|---|---|
| Form 990, Part VI, Section A, line 6 | There are three classes of members of the institute: US producer members, associate members and honorary members. |
| Form 990, Part VI, Section A, line 7a | US producer members are entitled to one vote per member. |
| Form 990, Part VI, Section A, line 7b | Producer members vote at meetings of members and share in the assets of the institute in the event of dissolution; associate members are represented with one seat on the board. |
| Form 990, Part VI, Section B, line 11b | The 990 is prepared by an independent CPA firm, and reviewed by the CEO and CFO prior to filing with the IRS. |
| Form 990, Part VI, Section B, line 12c | Annually directors, officers, and key employees complete a conflict-of-interest disclosure form. In addition, during the year, if a director, officer, or key employee becomes aware of an actual or potential conflict of interest, he or she must promptly notify the chairman of the board of directors. In case of any board member-disclosed conflict of interest, the director may not be counted in determining the presence of a quorum, the director must disclose his or her interest in the matter, the director may answer factual questions and briefly state his or her position on the matter, the director must recuse himself or herself from deliberations on the matter, and the director will abstain from voting on the matter and will not be present during voting. The minutes of the meeting where such a matter is considered will note that a quorum was present without counting the director, the director's disclosure, abstention, and the action that the board of directors or board committee took on the matter. The board of directors is responsible for administering the policy. The board of directors shall periodically review the policy to assess whether changes are appropriate. |
| Form 990, Part VI, Section B, line 15 | The CEO's compensation is reviewed and set by the compensation committee of the board each year using independent surveys in the decision process. Senior staff compensation is reviewed and set by the CEO each year within the constraints of the approved budget for the coming year. |
| 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 XII, Line 2c: | The review process has not changed from the prior year. |
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