| Return Reference | Explanation |
|---|---|
| Form 990, Part VI, Section A, line 2 | COLOM-PEQ's officers or Board of Directors may have business relationships with other officers or directors due to the nature of COLOM-PEQ's operations. COLOM-PEQ administers open tender processes in which U.S. based companies bid for the rights for chicken leg quarter quotas to be imported duty free into Colombia by importers. The U.S. and Colombian industries are represented by the Board of Directors from companies in the poultry business. COLOM-PEQ's officers and directors must act in accordance with COLOM-PEQ's export trade certificate of review (ETCR) issued by the U.S. Department of Commerce and reviewed by the U.S. Department of Justice. COLOM-PEQ must also comply with U.S. Internal Revenue Service provisions governing 501(c)(6) entities as well as its corporate bylaws and articles of incorporation. COLOM-PEQ's open tender mechanism ensures the transparency of the bid process since the system is administered by an independent third party and auction results are audited externally. The complete audit results are sent to the participating governments and consolidated results are made available to the member poultry associations, and to the public on the COLOM-PEQ website. |
| Form 990, Part VI, Section A, line 3 | The Board of Directors retained DTB Associates, LLP to conduct the entity's daily operations under their supervision. These operations include conducting open tender auctions, cash management of auction proceeds, coordination of Board meetings and financial recordkeeping. |
| Form 990, Part VI, Section A, line 6 | The entity is a non-stock corporation and therefore has members. |
| Form 990, Part VI, Section A, line 7a | The entity has two members: (1) the USA Poultry & Egg Export Council (USAPEEC), and (2) Federacion Nacional de Avicultores (FENAVI). The United States holds three seats on the Board and Colombia holds three seats on the Board. |
| Form 990, Part VI, Section A, line 7b | The members elect a board of directors and officers annually. Following these elections all decisions regarding company issues are made by the Board of Directors. |
| Form 990, Part VI, Section A, line 8b | There are no committees with the authority to act on behalf of the governing body. |
| Form 990, Part VI, Section B, line 11b | Two of the entity's current elected officers will review this Form 990 to ensure it accurately reflects the audited financial statements of the corporation. |
| Form 990, Part VI, Section B, line 12c | Management has distributed the written Conflict of Interest policy to all and regularly and consistently monitors enforcement. |
| Form 990, Part VI, Section C, line 18 | The entity makes the 990 available to the public upon request. |
| Form 990, Part VI, Section C, line 19 | The entity makes available to the public its governing documents and financial statements upon request. |
| Form 990, Part XII, Line 2C: | As directed by the Board of Directors the Administrator assumes responsibility for oversight of the audit of the financial statements. The Board of Directors approves selection of the independent accountant. |
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