National Cargo Bureau Inc

“The membership of the national cargo bureau, inc. Is composed of persons who are prominently identified with steamship management or marine insurance underwriting organizations, persons in or officially connected with the us government or a branch or department thereof, and persons in civil life prominent in branches of science appertaining to or affecting the carriage of cargo in the maritime commerce of the us.”

“The national cargo bureau, inc. Has members who serve on the membership committee which will meet and determine those to be elected for the board members of the governing body.”

“National cargo bureau, inc. Has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. When the form 990 has been prepared, it is provided to the bureau from the outside accountants. It is initially reviewed by the chief financial officer of the organization and then provided to the president for final review and approval. The board receives a copy of the form 990 after it has been filed at the next scheduled meeting following the irs filing.”

“The organization has a conflict of interest policy that applies to all members of the board of directors, officers and key employees. The board of directors shall be responsible for the adoption, implementation of and compliance with the conflict of interest policy. Upon initial appointment, election or employment, each key person (including members of the board of directors, officers and key employees) shall complete the conflict of interest questionnaire and provide it to ncb's president and chairman of board to be reviewed by the board. In addition, annually every director shall complete the required conflict of interest questionnaire and disclose any potential conflict of interest. The chairman of the board will review in advance the agenda of each annual, regular and special meeting of the board and of any committees and identify, to the extent possible, potential conflict of interest. If a potential conflict of interest is identified, the chairman of the board will notify and advise the individual with the potential conflict prior to the applicable meeting. In addition, each key person attending a meeting of the board or committee who believe there is or may be a potential or actual conflict of interest either for himself or herself or any other key person shall identify the issue for consideration by the board if the chairman of the board has not done so. If a key person may have a conflict of interest, the key person shall, if applicable, leave the meeting of the board or committee deliberating and voting on the matter giving rise to the conflict of interest after providing all material information relevant to the existence of a conflict. The minutes of each meeting of the board or committee shall contain the name(s) of key parties, the nature of the interest, and the decision as to whether a conflict of interest in fact existed.”

“Officers of the company are independently evaluated by the board of directors. Previous year's performance is evaluated and similar positions within the industry and other 501(c)(6) organizations with similar asset/revenue structures are used as a guide in order to arrive at a satisfactory level of compensation. In the prior year, an outside party conducted an independent study which evaluated the compensation levels of each position against the current marketplace. The officer's compensation review portion of the board of directors meeting is held without the officer's presence and conclusions are recorded in the minutes of the meeting. This process is used in determining the compensation for the president, chief financial officer, and corporate secretary. The evaluation for all officers and employees was last undertaken in 2017. There is a three step process in determining compensation for employees (except officers) in the organization: 1) the finance committee recommends an average annual increase based on corporate performance, industry conditions and economic outlook. 2) result is discussed by the board of directors who concurs or overrides decision based on their analysis. 3) employees are subject to a written mid-year evaluation by their immediate supervisor. Performance is quantified based on a numeric system. Increases are rewarded based on a percentage above or below the mean. The average raise would be that which is recommended by the board.”

“National cargo bureau makes its tax returns, audited financial statements and governing documents available to all interested parties. A booklet which details the directory of members, officers, committees, by-laws statement is distributed annually. The tax returns appear on the guidestar.org website and have been verified for accuracy and availability. The corporate financial statements are also provided upon request.”

“Pension-related changes other than net periodic pension costs 6,820,484. Net periodic pension cost -250,642.”

“The organization has an audit committee that assumes responsibility for oversight of the audit of its financial statements. The board of directors is responsible for the selection of an independent accountant. This process did not change from the prior year.”