Power Tool Institute Inc

“The institute is managed by thomas associates, inc., who provides all supporting and management duties.”

“Membership in the power tool institute shall be open to any business organized under the laws of the united states that has and continues to design, engineer, and manufacture at least three categories of electric or battery operated professional or consumer portable tools, or stationary/bench top tools or lawn and garden tools for at least three continuous years with a total annual sales volume of at least 20,000 units.”

“Each member shall be entitled to one vote on each matter submitted to a vote of the members. A member owning, controlling, or operating an affiliated or subsidiary company shall be entitled to only one (1) regular membership and one (1) vote. Each member shall be entitled to one director.”

“The form 990 is prepared by an independent accountant and reviewed by staff and the executive manager.”

“An interested person may make a presentation at the governing board or committee meeting, but after the presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. The chairperson of the governing board or committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the governing board or committee shall determine whether the organization can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the governing board or committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the organization's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination it shall make its decision as to whether to enter into the transaction or arrangement. If the governing board or committee has reasonable cause to believe a member has failed to disclose actual or possible conflicts of interest, it shall inform the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose. If, after hearing the member's response and after making further investigation as warranted by the circumstances, the governing board or committee determines the member has failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action.”

“The fees for independent contractors are determined by and approved by the board of directors.”

“The governing documents, policies and financial statements (form 990) are available upon request.”