Holstein Friesian Association of America

“Holstein association usa, inc. Is a membership organization. Life membership and one-year membership have voting privileges and elect delegates to represent them at the association's annual meeting.”

“The lifetime and one-year members of the association elect delegates from among themselves who are responsible for the election of directors at the organization's annual meeting.”

“The delegate body approves any changes to the organization's bylaws and elects the board of directors.”

“At the november 2017 board of directors meeting, the chief financial officer made the form 990 available to all directors and reviewed the form 990 with those directors in attendance.”

“All officers and directors are required to complete a conflict of interest policy disclosure statement annually. Officers of the organization carefully review the statement for potential conflicts of interest. The president and vice-president are notified of any potential conflicts identified on the disclosure statement. If a conflict of interest arises, those individuals are not allowed to vote or have input on the subject matter and must excuse themselves from deliberations and decision-making. If the individual does not immediately excuse himself or herself, any member of the board of directors can request that person to be removed before any discussions or voting occurs. In addition, at every board meeting the directors review the director's pledge, a copy of which is in each directors board book. The director's pledge outlines the responsibilities of being a board member and reiterates many of the items discussed in the conflict of interest policy statement.”

“The board of directors meets annually in november to give the ceo of the organization his annual review, determine his compensation for the following calendar year, and initiate a new written employment contract. Compensation is determined by meeting the organization's goals and objectives for the year and by comparing compensation of other ceo's through review of form 990 of other organizations and compensation studies. The ceo of the organization determines compensation for the cfo annually in july. The ceo completes the annual review form and determines compensation based on the previous years performance, as well as, comparing compensation of other cfo's through review of form 990 of other organizations.”

“The holstein association's constitution and bylaws are available for public inspection on the association's website: www.holsteinusa.com. A copy of the association's annual report is given to delegates and members at the organization's annual meeting each year. Copies are also mailed to industry contacts and are available upon request.”

“Asc 715 - change in pension liability -413,805. Rounding adjustment 5.”

“Providing breed, herd improvement and data processing services; and marketing or selling products, programs or services related to holstein cattle.”