Media Financial Management Association

“The organization transitioned to a full service management company which is responsible for administering all of the organization's activities under the direction of its volunteer board of directors.”

“The Active, Associate and Corporate members of the organization are eligible to participate in the governance of the organization by electing the govering body, however, members are not entitled to profits, dues or funds upon dissolution. These members are defined as follows:(a) The class of active members shall be open to controllers, chief accountants, auditors, business managers, human resources managers, management information system and data processing personnel, corporate officers, owners, general managers and other executives who perform or supervise the commonly accepted duties of financial officers, controllers, treasurers, personnel management, management information systems and data processing functions of business entities which operate any media or other related businesses.(b) The class of associate members shall be open to individuals connected with firms, corporations, or organizations whose business, profession, or general interest, is concerned with products, services or goods of interest to the media industry and who do not qualify for active membership.(c) The class of corporate members shall be open to all business entities which qualify for membership under sections (a) or (b) above. Such entities may initiate all company employees who qualify for membership under sections (a) or (b) above.”

“Active, Associate and Corporate memebers, at the annual meeting, elect the upcoming slate of the Board of Directors and Executive Committee for the year starting July 1. The annual meeting is usually held in May at the annual conference. This year it was held in virtual meeting in June.”

“At the annual meeting, any by-law changes are approved by the general membership. All are of equal class.”

“Form 990 is distributed in full in electronic copy to the entire Board prior to the May Board meeting. This action was noted in the minutes. The Board was asked for comments.”

“Conflict of interest statements are required of Board members as they join the Board for a three year term. As part of that statement, members are required to disclose any potential conflicts and act as described.Conflict of interest is discussed annually at the Board meetings, and in the event a situation were to arise, that is further reviewed by the Board and Executive Committee. Any conflict issues would be taken to the Association counsel, if needed. Further, the Board has at least one attorney as a member who serves as a first line reviewer in case an issue arises.”

“As of October 1,2023, all staff including President, are employees of the management company, Associations International. The management company (AI), in contract with the association, has the full power, authority and responsibility to employ, train, supervise, evaluate, and discharge staff. All wages, compensation and benefits provided to staff are determined by AI and are based on qualifications and job performance assessed annually. AI monitors American Society of Association Executives Industry medians for trade association compensation.”

“Minutes, tax returns, audited financial statements and other documents are made available upon request and for the same period of disclosure as set forth in IRC section 6104(d).”