Pipe Line Industry Advancement Fund

“Form 990 review the form 990 is reviewed by the chief legal counsel and comptroller. Draft copies of the form 990 are provided to the governing board before filing. If further review is needed, it would depend on the advice from the independent auditor firm.”

“Written conflict of interest policy the organization currently does not have a written conflict of interest policy in place. However, the organization is managed by an attorney who monitors all organizational activities to ensure there are no conflicts.”

“Determination of compensation as reported in the footnotes of the organization's audited financial statements, pliaf and plca had a three-year employment agreement with their former managing director and general counsel, beginning january 1, 2016. The agreement provides for productivity bonus for purchase of an annuity. During january 2019, pliaf and plca paid the employee an additional productivity bonus based upon a prescribed formula involving the number of united association man hours worked under the national pipe line agreement between the united association and the pipe line contractors association for the previous 12 months. During january of 2019, pliaf and plca purchased for and on behalf of the employee, a non-qualified immediate deferred annuity contract for an aggregate premium equal to the amount of the productivity bonus for the previous twelve months. Payment of annuity benefits under the contract shall commence on the deferred annuity date specified in the annuity contract, which shall be seven years after the date of purchase. The employee is the owner of the annuity contract, subject to a risk of forfeiture. The employee retired on december 31, 2017.”

“Documents available to the public the organization's documents pertaining to governance, conflicts of interest, and financial statements are made to the public upon request.”

“Number of employees the organization does not have any employees who receive form w-2. Instead, the organization reimburses the managing director's compensation paid by the pipe line contractors association, a related organization, as reported on schedule r, part ii. During the first half of 2019 the organization also reimbursed compensation of the executive director, chief legal counsel and staff paid by akin gump strauss hauer & feld, llp, an unrelated taxable organization.”