American Bakers Association

“Form 990 will be presented to the aba audit and finance committee and board of directors for a period of review prior to submission to the irs. To meet this requirement, aba will send an email to both groups to offer a period of review and opportunity to ask questions regarding the 990 before it is filed with the irs. The 990 will be uploaded to the aba board web portal for ease of access.”

“Officers, directors, and staff are annually required to complete a conflict of interest disclosure form, to be reviewed by the chairman. Potential conflicts are handled at the option of the chairman, including taking no action, disclosing the conflict to the full board, asking the affected parties to recuse themselves from related deliberation and discussion, and removal from position.”

“Aba staff and executive compensation is reviewed in a process which includes comparability data made available by the american society of association executives (asae). Overall compensation is reviewed by the audit and finance committee, which offers its recommendation of approval to the executive committee. Deliberations and decisions relating to compensation are contemporaneously documented. The president's compensation was last reviewed in june 2014.”

“Our governing documents, conflict of interest policy, and financial statements are available to the public to persons demonstrating a need to know the information. Aba strives to balance public access to required financial and administrative information with organizational privacy for best practice.”

“As a trade association, aba has volunteer members serving on the board of directors. These volunteers may have ordinary business transactions with the companies that employ other volunteers serving on the aba board of directors. These business transactions occur outside the meetings of the aba board of directors.”

“Net adjustment - schedule k-1 -5,214,167.”