Direct Marketing Association Inc

“The organization has merged with association of national advertisers.”

“The association was established as a membership organization. Any organization, whether incorporated or not, which uses, creates, produces, services or supplies materials for direct marketing, any individual who is a general member, was eligible for membership in this association. The membership of the association was classified as follows: company membership of the association consisted of companies of corporations that are users, creators, suppliers, services, or producers of any form of direct marketing. Within company membership there were three types of members voting, regular and service. Regular membership consisted of employees of a company member who are certified in writing by the company member to the association to receive the benefits described in section 4 of the article of by-laws other than the rights to vote and to hold office, and who were included in the basic dues paid by the company. The number of regular members that a company member were entitled to were determined by the formula contained in the then current dues schedule maintained by the association. Service membership consisted of employees of a company member who were, upon notice to the voting member, to receive the benefits described in section 4 of the article of by-laws other than the rights to vote and to hold office, for the extra service membership was paid. Voting membership, one of the members (regular or service) from each company were designated as the voting member, certified by the company member to the association to be its official representative in all the affairs of the association including the holding of office therein during the term of such certification. Any change by a company member of such a certification was effective upon the receipt by the association of a written notice thereof from the company member at least ten (10) days prior to any regular or special meeting. Educational membership included trade associations whose membership included a substantial segment of members having an interest in direct mail or direct marketing, who received the benefits outlined in section 4 of the article of by-laws other than the rights to vote and to hold office. General membership included all other forms of membership not contained in these by-laws, whether organizations or individuals, including different subclasses of members as determined by the association, however denominated. Such members will receive benefits as determined by association, other than the rights to vote and to hold office.”

“One of the members (regular or service) from each company was designated as the voting member and had the right to vote. The vote of the voting member may have been cast personally or by a duly designated proxy in accordance with the procedures reasonably prescribed by the association.”

“No governign body is in existence as of the filing of this form 990.”

“Each officer, key employee and member of the board of directors was required to complete and file with the president of the association a disclosure statement regarding potential conflicts of interest and annually file a statement of continued accuracy thereof. In the event of a conflict, the individual with such conflict was prohibited from participating in the deliberation and decision related to the transaction.”

“Compensation of the president of the association was determined by the compensation committee of the board of directors. The committee was comprised of independent members of the governing board. Compensation for the president is stated in their contract once an agreement is initiated. Other officers and key employee compensation was determined by the ceo in collaboration with the chairman of the board of directors. Other officers and key employee compensation was calculated based on the position and comparable industry standards. The association also used data of comparable compensation for similarly qualified persons in functionally comparable positions at similarly situated organizations and contemporaneous documents and recordkeeping with respect to deliberations and decisions regarding the compensation arrangement.”

“The governing documents, conflict of interest policy and financial statements were not made available to the public.”

“The organization has been liquidated.”

“Decrease in pension liability -116,899. Net liquidation adjustment -353,771.”