Gasket Fabricators Association

“The executive committee is comprised of the board president, vice president, secretary-treasurer and one additional board member. The executive committee shall have and exercise all of the powers and authority of the board of directors in the management of the business and affairs of the association, and shall represent the association in all contacts with the united states government, except that the executive committee shall not have the power or authority to: 1. Fill vacancies in the board of directors 2. Adopt, amend or repeal the bylaws 3. Amend or repeal any resolutions of the board”

“Gfa delegates management functions to multiservice management company (mmco), an unrelated professional management entity. Management services provided by mmco include, planning and executing budgets and financial operations as well as supervising exempt operations. Mmco is directly supervised and reports to the board of directors. Peter lance is a key employee at mmco and acts as the top management official for gfa. During 2024, gfa paid mmco $80,290 management services rendered. Peter lance receives compensation through mmco for his services rendered to gfa.”

“Regular members are defined as: (a) any business entity (whether a person, firm, corporation, or operating division of a corporation) engaged in the gasket fabricating industry and meeting the qualifications of this corporation set forth in paragraph (b) below, is eligible to be elected to regular membership in the association. (b) to qualify for regular membership, an applicant must: (1) have been engaged in the gasket fabricating industry a minimum of one year; and (2) manufacture and sell an annual volume of at least one million dollars ($1,000,000 u.s.) of fabricated gaskets and converted materials, including metallic gaskets and gaskets which 3 are perforated, encased, or enveloped. Verification of the above criteria will be aided by the inclusion of three raw material suppliers for references by the gfa office; and (3) not more than twenty-percent (20%) of the applicant's annual sales were made to other fabricators or converters. For an applicant whose sales to fabricators or converters exceeds an average of twenty-percent (20%) of its annual sales during the three (3) year period preceding the application, the applicant may be considered for status as a gfa associate member. (c) a gasket fabricator meeting the above requirements may be admitted to regular membership only upon the approval of two-thirds (2/3rds) of the members of the board of directors then in office. (d) regular members shall, upon election to membership, agree to abide by the association's bylaws, articles of incorporation, and policies and procedures, and as a condition of continued membershop, to pay such membership dues and assessments as may be prescribed by the board of directors from time to time. (e) the secretary-treasurer will assess and bill each regular member on or before january 1 for one (1) full year, dues payable by february 1 for the calendar year. (f) any regular member may resign from the association at any time on payment of its dues for the current year as determined on the basis of the dues requirement in effect at the time of resignation. (g) a regular member shall have the right to vote on matters appropriately placed before the association's membership for a vote; to hold office, and to serve as a director on the board of directors.”

“Regular members in good standing are responsible for the election of the board of directors. No person may be elected, be appointed or serve as a director who is not a regular member in good standing.”

“The amendment, adoption or repeal of the bylaws requires approval of at least two-thirds of the quorum of regular members in good standing.”

“The form 990 is prepared by an independent accounting firm and then a draft is provided to the management company for review. A complete copy is provided to all voting board members prior to filing with the internal revenue service.”

“Gfa does not have any compensated individuals that meet the internal revenue service definition of officer or key employee.”

“The governing documents are available to the public upon request. The financial statements are not made available to the public. At this time there is no written conflict of interest policy.”

“CLERICAL FEES 72,778.”