Secondary Materials and Recycled Textiles

“Smart is managed by the association management company of king management group, inc. Smart maintains its offices at kmg's headquarters at 3465 box hill corporate center dr., suite h, abingdon, md 21009. All regular smart staff members are employees of kmg and are provided to smart on an as-needed basis. Kmg and smart have a letter of agreement that defines the responsibilities of the management firm. A management fee is negotiated that covers the cost of the smart executive director, support staff, office equipment, and office space.”

“The organization elected to revise its bylaws to add an additional class of membership. A secondary member company is owned wholly or partially by a s.m.a.r.t. Member and meets the eligiblity requirements, as stated in article iii of the bylaws.”

“Smart's bylaws provide for four classes of membership: (1) industry members (2) international members,(3) associate members, and (4) secondary member company.”

“Industry and international members are voting members of the association.”

“A final draft of form 990 is emailed to all board members.”

“If the governing board or committee has reasonable cause to believe a member has failed to disclose actual or possible conflicts of interest, it shall inform the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose. If, after hearing the member's response and after making further investigation as warranted by the circumstances, the governing board or committee determines the member has failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action.”

“Available upon request made to association headquarters.”

“The financial statement review process has not changed.”