American Benefits Council

“There are members only and no stockholders.”

“The officers are authorized to act on behalf of the governing body. They document their decisions in writing, however minutes are not kept at all meetings.”

“Upon preparation by the accounting firm responsible for preparing the organizations financial statements,the 990 form is reviewed by the top management official (the president).”

“The councils effectiveness depends on its record of accomplishment and its reputation. The councils success results directly from maintaining the confidence of the individuals, groups, and organizations with whom it works. The policy and procedure is to help council staff and executive board members identify and avoid or resolve conflicts of interest with the council. This policy and procedure is discussed at all orientation sessions for new employees and members of the executive board. In addition, there may be certain volunteers who, because of the level of their involvement in coucil business and their access to inside information are covered by this conflict of interest policy and procedure and must be fully informed of its contents. This procedure provides guidance in three areas - understanding conflict of interest concepts and definitions; - memorializing the councils administration and procedure for reviewing and managing conflicts; and - providing illustrative key questions to be used to evaluate typical conflicts and potential conflicts. To identify possible conflicts of interest, all officers and members of the executive board must disclose the existence of any financial interest in any entity with which the council or any legally related organization has or is negotiating a transaction or arrangement, and all material facts related to that interest. Financial interests includes any direct or indirect relationship, through business, investment, or family. Executive board members regularly sign a statement attesting to the absence of a conflict of interest. All staff and other insiders must read, understand and comply with this policy and procedure.”

“THE OFFICERS OF THE EXECUTIVE BOARD OF DIRECTORS (OTHER THAN THE PRESIDENT WHO IS AN EX-OFFICIO MEMBER) PERIODICALLY REVIEW COMPENSATION STUDIES COMPARING SALARY RANGES FOR CEOs/EXECUTIVE DIRECTORS IN THE NON-PROFIT SECTOR. USING THIS INFORMATION THEY DETERMINE THE SALARY FOR THE PRESIDENT.”

“The officers of the executive board of directors, including the president, periodically review compensation studies comparing salary ranges for various employee positions in the non-profit sector. Using this information, the executive board of directors approves a total salary budget for all employees (including the president). The president then determines compensation for employees other than himself.”

“The organization considers all requests from the public for documents. Upon request they are made available if applicable.”

“Section B. Independent Contractors addresses:-Davis&Harman LLP: 1455 Pennsylvania Ave NW Ste 1200 Washington, DC 20004-Groom Law Group Chartered:1701 Pennsylvania Ave NW Suite 1200 Washington DC 20006-Spangler Strategies LLC:2001 L Street NW Washington, DC 20036-Seyfarth Shaw LLP:233 S Wacker DriveChicago, IL 60606”

“The prior period adjustment in net assets (part xi)relates to a lease agreement correction identified during the audit, which was not reported in the 2023 form 990.”