American Foundry Society

“Membership in the organization shall be available to all individuals and corporations in the metalcasting industry, its supplier industries, related academia and OEM/customers of the industry. Qualifications for admission as members shall be as follows: a. Corporate Member. 1. Regular - Any firm or corporation that is a metal casting producer and/or a supplier of goods and services to the industry interested in participating in the stated activities of AFS and benefiting from the privileges of corporate membership. 2. OEM Affiliate - Any firm or corporation that is a designer, buyer, or specifier (OEM) of components, excluding casting brokers, interested in participating in the stated activities of AFS and benefiting from the privileges of corporate membership. b. Corporate Affiliate. Any individual, residing in North America, employed by a corporate member and identified by his employer as a Corporate Affiliate under provisions determined by the board of directors. c. Personal Member. Any individual, residing in North America, who is not eligible for Corporate Affiliate or other individual member status. d. International Technical Member. Any individual residing outside North America interested in participating in the stated programs of the Society. e. Retired Member. An individual, residing in North America, retired and no longer gainfully employed, and not qualifying for the Service Life membership. f. Teaching Associate. Any individual, residing in North America, employed as a secondary or vocational teacher, college professor, or those teachers of institutions and programs offering Associate degrees. g. Student Member. Any individual, residing in North America, interested in participating in and benefiting from the stated activities of AFS who is an enrolled full class schedule student in an accredited educational institution. h. Honorary Life Member. An individual who has served the AFS as its president and has retired from office; recipients of the AFS Gold Medal award, Hoyt Lecturers, or special honorary members appointed by the board of directors. i. Service Life Member. Any individual, residing in North America, fully retired, no longer gainfully employed who has had a minimum of 25 years continuous membership in AFS. j. Others. The board of directors may make provisions for special memberships and shall determine the dues and privileges of such memberships.”

“All individual members, with the exception of student members, and those residing outside of North America, shall have the right to hold office in American Foundry Society and to cast one vote on all questions submitted to the membership by letter or other ballot.”

“Board resolution passed August 2009 delegates this responsibility to the Finance Committee for independent review before filing. The Form 990 is also provided to all members of the governing body before it is filed.”

“All new board members sign the conflict of interest policy at the beginning of their 4 year term. The conflict of interest policy is renewed annually at the August board meeting each year a board member serves. Due to the nature of our industry, there is an awareness of what is happening within to informally monitor throughout the year. If a conflict occurs, the board member would recuse themselves from voting on the matter.”

“At the American Foundry Society, there is an Executive Compensation and Review Committee (ECRC) which shall consist of the President, Vice President, 2nd Vice President and Immediate Past President. The Committee is responsible for establishing executive compensation and further serves as the review authority for the CEO. The CEO's performance is evaluated annually by the ECRC against established goals, through a process that involves consultation with the Board of Directors and other stakeholders. The compensation level is benchmarked periodically using resources including the National Association of Manufacturers Council of Manufacturing Associations Executive Salary Survey and the Association Forum of Chicagoland Association Compensation Benefits Survey. Any changes in salary or incentive bonus payments are communicated in writing from the ECRC to the Director of Accounting & Finance.”

“The governing documents, conflict of interest policy and financial statements are available upon request for the same period of disclosure as set forth in IRC Section 6104(d).”

“The organization's audit of its financial statements for 2023 is not complete as of the filing date of this Form 990. It is expected that the audit report will be issued by June 2025.”