Nicsa Inc.

“The Association utilizes the services of a management firm, Interel US, Inc., to provide management, back-office services, and use of office space and equipment. Management fees totaled $305,000 for the year ended March 31, 2019.”

“The organization has members.”

“Each member organization shall designate one nominee as its representative and may designate one or more alternate nominees. Such nominees shall be employees of the member organization.”

“A draft of the Federal Form 990 is circulated to the Board of Directors for review prior to filing with the IRS. Any questions are collected and resolved. The Audit Committee approves the final Federal Form 990 to be filed.”

“The organization requires an annual written disclosure that all directors must sign confirming that they are in compliance with the Conflict of Interest Policy and must be updated throughout the year as necessary.”

“The compensation of the President and top management positions are determined by the Executive Committee consisting of members of the Board of Directors. The Committee considers performance as well as comparability data when determining compensation. The full Board of Directors approves the President's compensation based upon recommendation from the Executive Committee.”

“The organization makes it governing documents, conflict of interest policy and financial statements available to the public upon request.”

“NICSA forums enable associates of asset managers, distributors, and service providers to: Collaborate to establish standards for operational best practices to assist compliance with regulations and continuously improve operating performance. Stay up-to-date on the latest developments through education and Information sharing. Learn about trends in all types of investment vehicles, including mutual funds, hedge funds, unit investment trusts, UCITS and ETFS. Connect members with peers to network and learn from each other, and foster skills that can help advance careers.”

“The Diversity Project was launched in fiscal year 2019. The program is an initiative focused on increasing diversity within the asset management industry.”

“The organization's Audit Committee is responsible for the oversight of the audit and the selection of the independent accountant. This process has not changed from prior years.”