Investment Casting Institute

“The executive committee is comprised of the president, vice president and immediate past president. The president has authority and fully discretion to add additional persons to the executive committee, however, this discretion was not exercised in 2024.”

“The institute has seven classes of members as follows: 1. Regular (casting) member this category consists of manufacturers of investment castings with manufacturing operations based in north america. Regular members vote on articles of incorporation, all matters and motions proposed at membership meetings, and for directors who are regular members. 2. Affiliate (supplier) member this category consists of suppliers of equipment, products and services to the industry with manufacturing operations and/or business offices based in north america. Affiliate members vote only in relation to special assessments brought before the general assembly, and for directors who are affiliate members. 3. Associate regular (casting) member this category consists of manufacturers of investment castings with manufacturing operations based outside of north america. Associate regular members may not attend management meetings, but may vote on special assessments brought before the general assembly. Associate members may have representatives to act as full members of committees but shall not be eligible to serve as a member of the board of directors or as an officer of the institute. 4. Associate affiliate (supplier) member this category consists of suppliers of equipment, products and services to the industry with manufacturing operations and/or business offices based outside of north america. Associate affiliate members may not attend management meetings, but may vote on special assessments brought before the general assembly. Associate members may have representatives to act as full members of committees but shall not be eligible to serve as a member of the board of directors or as an officer of the institute. 5. Individual member this category is currently available to individuals that are not employed by a member eligible company. Eligibility for individual membership is determined by the executive director on a case by case basis. Individual members may not attend management meetings, but may participate as full members of committees. Individual members may not serve as a member of the board of directors or as an officer of the institute. 6. Member emeritus this category is currently available to retired persons with exceptional qualifications who would be a valuable asset to the institute. Honorary membership shall be by invitation of the board of directors only. Honorary members may not vote, serve as a member of the board of directors or hold office. 7. Allied member this category is currently available to universities and organizations that are inelligible for membership under another category but whose affiliation with the company is of mutual benefit. Allied members may not vote nor may they hold office and are exempt from the payment of dues.”

“Regular and affiliate members elect the board of directors. See above for description and explanation of classes of members.”

“See above description and explanation of classes of members.”

“The executive director reviews and approves the form 990 before it is filed with the internal revenue service”

“The institute's conflict of interest policy currently governs the activities of the board of directors and the executive director. The executive director and board of directors are required to disclose annualy interests that could give rise to conflicts. For each interest disclosed, the president, or the board, as appropriate, shall determine whether the institute should take no action, or disclose the situation more broadly and invite discussion/resolution by the full board. When the conflict involves a decision maker, the person with the conflict must fully disclose the conflict to all other decision makers, and may not be involved in the decision of what action to take (e.g. May not participate in a vote), but may serve as a resource to provide other decision makers with needed information. In some cases, the person with the conflict may be asked to recuse himself from sensitive discussions so as not to unduly influence the discussion of the conflict. In all cases, decisions involving a conflict will be made only by disinterested person. The executive director shall document that a conflict was managed and the outcome in the minutes of board of directors. The president, with the assistance of the executive director, shall monitor proposed or ongoing transactions of the institute (e. G. Contracts with vendors and collaborations with third parties) for conflicts of interest and disclose them to the board and staff, as appropriate, whether discovered before or after the transaction has occurred.”

“The executive committee (who are also members of the board of directors) are responsible for determining the total compensation package of the executive director. The executive committee is independent from the executive director. The executive committee utilized data as to comparable compensation from similar organizations when determining the executive director's package. The current executive director signed an employment contract that became effective august 5, 2013. He was acting as co-executive director until the former executive director retired at december 31, 2013. On november 29, 2017, the executive director's employment contract was amended to extend the contract term until december 31, 2026. The board of directors, on an annual basis, reviews the executive director's performance against established criteria and determine appropriate adjustments to compensation as warranted. There are no other officers or key employees that would require this process for determining compensation.”

“The institute makes its governing documents, conflict of interest policy, and audited financial statements available to the general public upon request for inspection at the institute's office.”

“The organization has an executive committee which has authority to act on behalf of the governing body.”

“Bad debt recovery 18,133.”

“Investment casting institute's finance committee assumes responsiblity for the review and oversight of the audit and financial statements.”