Federation of Exchange Accommodators

“The organization has a contract with amplify management company for management services, including planning and executing the financial operations and exempt functions of the organization. Amplify management company employs kimberly steenhoek, who serves as the executive director for federation of exchange accommodators.”

“The organization consists of five classes of members. The rights and privileges of each member within each class shall be equal to the rights and privileges of each other member of that class. No person shall hold more than one membership, regardless of class, in the corporation. The first class of members of the corporation shall be known as members and shall be limited to accommodators in exchange transactions and their primary advisors. The second class of members of the corporation shall be known as affiliates and shall be limited to such affiliate criteria as adopted by the board of directors. The third class of members of the corporation shall be known as individual members and shall be limited to natural persons who are employees of, or independent contractors providing services to, (i) an accommodator in exchange transactions or (ii) their primary advisors. The fourth class of members of the corporation shall be known as life members. A life member shall be a former member retired from the profession and recognized by the corporation for previous contributions to the organization and profession. The fifth category of members of the corporation shall be known as professional advisor members and shall be limited to such professional advisor criteria as is adopted by the board of directors. This category of members is intended to include credentialed professionals who provide tax or legal advice to exchangers, rather than providing or advertising their services to qualified intermediaries. A professional advisor member may be a natural person or a professional firm, such as a law firm or accounting firm. If a firm, each professional advisor member shall designate a professional advisor representative.”

“The board of directors establishes the policies governing the conduct of elections. At the annual meetings a majority of the voting members present and voting shall elect such number of directors as necessary to fill vacancies of directors whose terms expire as of such meeting.”

“Electronic draft copies are sent to the executive director of the association for dissemination to the board of directors with written instructions to review and approve the form in accordance with irs regulations. Written comments and questions by the board, if any, are sent to the accountant for responses. Otherwise, each board member signs off on the written instruction sheet that they approve of form 990 as prepared.”

“Each member of the board of directors are required to sign an annual statement, which confirms that such person has received a copy of the conflict of interest policy, has read and understands the policy, and has agreed to comply with the policy. Any possible conflicts of interest are reviewed at each board meeting.”

“Federation of exchange accommodators does not compensate any individual. However, the board of directors entered into a management agreement with amplify association management to manage the daily operations and employ an individual to serve as the executive director of the organization. The agreement is approved by the board of directors before it is offered to amplify association management.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request for the same period of disclosure as set forth in section 6104(d).”