Auxiliaries Multiple Employer Veba

“The board of trustees consists of employees of contributing employers and as such the board members are compensated by the contributing employers for the services they provide as employees of their respective employer. As these entities are considered related entities, these members are not considered independent trustees.”

“Service enhancement technologies (setech), a division of keenan & associates, provides financial management and reporting to the board. Budgetary control is provided by verification of budgeted amounts prior to expenditures and analysis of all account totals compared to budgeted amounts. Detailed financial statements and treasurer's reports include budget-to-actual comparisons and are provided to the trust board.”

“There is one class of members. The members consist of any auxiliary that, with the consent of the board, partcipates in the veba pursuant to a participation agreement.”

“The employers may appoint or dismiss trustees by majority vote.”

“The veba may be amended at any time, in whole or part, by a majority vote of all members”

“There are no committees with authority to act on the organization's behalf”

“At least (2) weeks prior to filing the annual form 990, the final draft of the form is distributed to all the trustees for their review and comment. Comments or changes suggested by the trustees shall be forwarded to the chair who shall review and discuss with the cpa. The cpa shall revise the form if necessary and thereafter submit the form to the internal revenue service for electronic filing.”

“Each board member signs a conflict of interest policy disclaimer annually, the trustee reviews the disclaimer. If a conflict of interest arises, the board member is asked to excuse himself/herself from all discussion and voting in the issue.”

“The organization makes it governing documents and financial statements available by providing copies to the general public upon request.”